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European stocks mixed to lower, eyes on Draghi; Dax down 0.05%

European stocks were mixed to lower on Tuesday, as the U.K. FTSE re-opened after a public holiday, while investors eyed further comments by European Central Bank President Mario Draghi later in the day.

European stocks mixed to lower, eyes on Draghi; Dax down 0.05%Frankfurt Stock Exchange
During European morning trade, the DJ Euro Stoxx 50 slipped 0.21%, France’s CAC 40 fell 0.31%, while Germany’s DAX dipped 0.06%.

On Monday, ECB President Draghi said the bank saw a risk of a deflationary cycle taking hold in the euro zone.

Draghi said the ECB is ready to act should it see signs of a negative inflation spiral taking hold, and indicated that the bank is weighing a wide range of policy options, including interest rate cuts, and liquidity injections or broad-based asset purchases to help shore up the fragile recovery in the euro area.

The comments were made at the new ECB annual conference in Sintra, Portugal.
Financial stocks were mixed, as French lenders BNP Paribas (PARIS:BNPP) slid 0.34% and Societe Generale (PARIS:SOGN) gained 0.80%, while Germany's Deutsche Bank (XETRA:DBKGn) edged up 0.08%.

Among peripheral lenders, Italy's Unicredit (MILAN:CRDI) and Intesa Sanpaolo (MILAN:ISP) added 0.04% and 0.12% respectively, while Spain's Banco Santander (MADRID:SAN) and BBVA (MADRID:BBVA) slipped 0.09% and 0.35%.

Elsewhere, Accor (PARIS:ACCP) rallied 2.16% after agreeing to buy hotels in Germany and the Netherlands for about €900 million. The hotel operator added that is in exclusive talks to buy another 11 hotels in Switzerland.

In London, FTSE 100 rose 0.26%, supported by gains in the financial sector.

Shares in the Royal Bank of Scotland (LONDON:RBS) added 0.30% and Barclays (LONDON:BARC) climbed 0.55%, while Lloyds Banking (LONDON:LLOY) and HSBC Holdings (LONDON:HSBA) advanced 0.95% and 1.08% respectively.

Lloyds Banking earlier said that it will sell a 25% stake in its TSB consumer bank in an initial public offering next month. The decision came as the European Commission ruled in 2009 that the lender should have to sell part of its business in response to its U.K. government bailout.

Mining stocks were also broadly higher, as Vedanta Resources (LONDON:VED) and Glencore Xstrata (LONDON:GLEN) gained 0.56% and 0.60% while Bhp Billiton (LONDON:BLT) and Rio Tinto (LONDON:RIO) slid 0.38% and 0.48%.

On the downside, Astrazeneca (LONDON:AZN) plummeted 2.35% after Pfizer (NYSE:PFE) ended its six-month effort to buy the U.K. drugmaker after offering £69.4 billion, saying the rejected public bid represented “full value.”

In the U.S., equity markets pointed to a higher open. The Dow 30 futures pointed to a 0.26% rise, S&P 500 futures signaled a 0.31% gain, while the Nasdaq 100 futures indicated a 0.35% increase.

Later in the day, the U.S. was to produce data on durable goods orders, house price inflation and consumer confidence.
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Asia stocks mixed in quiet trade; Nikkei ends up 0.2%

Asian stock markets were mixed in subdued trade on Tuesday, as investors weighed growing geopolitical tensions between China and Vietnam.

Asia stocks mixed in quiet trade; Nikkei ends up 0.2%Asia stocks end mixed in thin trade
During late Asian trade, Hong Kong's Hang Seng dipped 0.2%, China’s Shanghai Composite inched down 0.2%, Australia’s S&P/ASX 200 closed 0.02% lower, while Japan’s Nikkei 225 ended up 0.23%.

Sentiment was dampened as Vietnam's coastguard accused China of sinking one of its fishing vessels in the disputed waters of the South China Sea.

In Tokyo, the Nikkei ended at a seven-week high as a weaker yen lifted sentiment. The yen traded at ¥101.98 against the U.S. dollar, compared to the previous session’s high of ¥101.83 (USD/JPY).
Meanwhile, in Australia, the ASX/200 Index swung between small gains and losses, while the Australian dollar rose to a one-week high against the greenback.

The Aussie (AUD/USD) strengthened to 92.76 U.S. cents from 92.55 U.S. cents in the prior session.
Suncorp Group (ASX:SUN) lost 2% after the insurance firm announced a writedown on its life-insurance business of about A$460 million.

Elsewhere, shares in mainland China and Hong Kong edged lower amid ongoing concerns over the health of China’s economy.

Property shares were lower amid signs of slowing demand. Wharf Holdings (HK:0004) was the biggest decliner, down 3.7%.
Looking ahead, European stock market futures pointed to a mixed open. The Euro Stoxx 50 futures pointed to a loss of 0.1%, France’s CAC 40 inched down 0.25%, Germany's DAX pointed to a flat open, while London’s FTSE 100 indicated a gain of 0.35%.

Markets eyed a second day of remarks by European Central Bank President Mario Draghi. On Monday, ECB President Draghi said the bank saw a risk of a deflationary cycle taking hold in the euro zone.

Draghi said the ECB is ready to act should it see signs of a negative inflation spiral taking hold, and indicated that the bank is weighing a wide range of policy options, including interest rate cuts, and liquidity injections or broad-based asset purchases to help shore up the fragile recovery in the euro area.

Across the Atlantic, U.S. equity markets pointed to a firm open. The Dow 30 futures pointed to a gain of 0.3%, the S&P 500 added 0.25%, while the Nasdaq 100 indicated a rise of 0.3%.

The U.S. is to produce data on durable goods orders, house price inflation and consumer confidence.
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Asian shares mixed in thin trade, Nikkei 225 hits 7-week high

Asian shares were mixed on Tuesday with Tokyo hitting a seven-week high, but Hong Kong and Shanghai dented by real estate.
Asian shares mixed in thin trade, Nikkei 225 hits 7-week highAsian shares mixed

The Nikkei 225 rose 0.87% in the morning with traders bullish.
But Hong Kong's Hang Seng Index fell 0.2% as investors continued to steer clear of property shares amid signs of slowing demand.

Wharf Holdings (HK:0004) was the biggest decliner, down 2.6%. Sino Land (HK:0083) fell 0.5% and China Resources Land declined 0.7%. The Shanghai Composite fell 0.22%

The rest of the region was little changed after market holidays in the U.S. and U.K. on Monday. Australia's S&P/ASX 200 was flat and South Korea's KOSPI fell 0.3% to 2003.75.

Trade volumes were thin on Monday with U.K. markets closed for a public holiday and markets in the U.S. remaining shut for the Memorial Day holiday.
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European stocks remain higher on Draghi comments; Dax up 0.90%

European stocks remained higher on Monday, as expectations for further easing measures by the European Central Bank strengthened after ECB President Mario Draghi said the bank saw a risk of a deflationary cycle taking hold in the euro zone.

European stocks remain higher on Draghi comments; Dax up 0.90%European stocks hold gains on easing speculation
During European afternoon trade, the DJ Euro Stoxx 50 gained 0.82%, France’s CAC 40 rose 0.34%, while Germany’s DAX jumped 0.90%.

Draghi said the ECB is ready to act should it see signs of a negative inflation spiral taking hold, and indicated that the bank is weighing a wide range of policy options, including interest rate cuts, and liquidity injections or broad-based asset purchases to help shore up the fragile recovery in the euro area.

"What we need to be particularly watchful for at the moment is the potential for a negative spiral to take hold between low inflation, falling inflation expectations and credit, in particular in stressed countries," Draghi said.

"There is a risk that disinflationary expectations take hold," prompting consumers and businesses to delay spending. "We are not resigned to allowing inflation to remain too low for too long," he added.

The comments were made at the new ECB annual conference in Sintra, Portugal.

European equities have been gaining ground since the ECB indicated at its May 5 meeting that it is comfortable with easing monetary policy as soon as its next meeting in June, to tackle low levels of inflation in the region.

Financial stocks were mixed, as BNP Paribas (PARIS:BNPP) dipped 0.02% and Societe Generale (PARIS:SOGN) rose 0.22% in France, while Germany's Deutsche Bank (XETRA:DBKGn) slipped 0.13%.

Peripheral lenders remained broadly higher however, Italy's Intesa Sanpaolo (MILAN:ISP) and Unicredit (MILAN:CRDI) surged 3.50% and 3.62% respectively, while Spain's Banco Santander (MADRID:SAN) and BBVA (MADRID:BBVA) gained 0.64% and 0.67%.

Elsewhere, French technology services company Atos (PARIS:ATOS) rallied 5.08% after it offered to buy rival Bull (PARIS:BUL) for about €620 million to create a European leader in cybersecurity and cloud computing.

Alstom (PARIS:ALSO) added to gains, up 0.40%, as General Electric (NYSE:GE) pledged to keep the power-equipment maker’s nuclear operations in France, if it gets the French government's approval for its $17 billion bid to buy the company's energy division.

Trade volumes were expected to remain thin on Monday with U.K. markets closed for a public holiday and markets in the U.S. remaining shut for the Memorial Day holiday.
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European stocks rise ahead of Draghi speech; Dax up 0.97%

European stocks were higher on Monday, as investors awaited a speech by European Central Bank President Mario Draghi and as growing expectations for further easing measures by the ECB continued to support.

European stocks rise ahead of Draghi speech; Dax up 0.97%European stocks open higher, eyes on Draghi
During European morning trade, the DJ Euro Stoxx 50 gained 0.86%, France’s CAC 40 rose 0.34%, while Germany’s DAX jumped 0.97%.
Draghi was to speak at the ECB Forum in Portugal later Monday, with investors watching for any indications on the future direction of monetary policy.

European equities have been gaining ground since the ECB indicated at its May 5 meeting that it is comfortable with easing monetary policy as soon as its next meeting in June, to tackle low levels of inflation in the region.

Meanwhile, anti-European Union and far-right parties performed strongly in elections to the European Parliament in some countries over the weekend, amid voter anger over austerity and high unemployment.

Financial stocks were broadly higher, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) climbed 0.86% and 0.84%, while Germany's Deutsche Bank (XETRA:DBKGn) advanced 0.43%.

Among peripheral lenders, Italy's Unicredit (MILAN:CRDI) and Intesa Sanpaolo (MILAN:ISP) surged 4.28% and 4.97% respectively, while Spain's BBVA (MADRID:BBVA) and Banco Santander (MADRID:SAN) gained 0.56% and 0.63%.

Elsewhere, French technology services company Atos (PARIS:ATOS) rallied 4.15% after it offered to buy rival Bull (PARIS:BUL) for about €620 million to create a European leader in cybersecurity and cloud computing.

Alstom (PARIS:ALSO) added to gains, up 0.38%, as General Electric (NYSE:GE) pledged to keep the power-equipment maker’s nuclear operations in France, if it gets the French government's approval for its $17 billion bid to buy the company's energy division.

Trade volumes were expected to remain thin on Monday with U.K. markets closed for a public holiday and markets in the U.S. remaining shut for the Memorial Day holiday.
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U.S. futures edge higher ahead of data; Dow Jones up 0.08%

U.S. stock futures pointed to a moderately higher open on Friday, after mostly positive U.S. data released on Thursday continued to support and as markets awaited a report on U.S. home sales later in the day.

U.S. futures edge higher ahead of data; Dow Jones up 0.08%U.S. futures point to slightly higher open with data in focus
Ahead of the open, the Dow 30 futures pointed to a 0.08% gain, S&P 500 futures signaled a 0.12% rise, while the Nasdaq 100 futures indicated a 0.18% increase.

The outlook for U.S. economic growth improved after the National Association of Realtors on Thursday said existing home sales increased 1.3% in April to an annual rate of 4.65 million units, indicating that the housing market is regaining momentum.

A separate report showed that U.S. manufacturing activity expanded at a faster rate than expected this month.

However, the Labor Department reported that the number of people filing for initial jobless benefits last week increased by 28,000 to 326,000 from the previous week’s revised total of 298,000.

General Electric (NYSE:GE) was set to be in the spotlight once again, after the company agreed to a French government request to extend by three weeks the deadline for its planned $17 billion purchase of Alstom (PARIS:ALSO)'s energy units.

Reynolds American (NYSE:RAI), the maker of Camel cigarettes, was also likely to be in focus amid reports it has been considering the purchase of Lorillard for several months but found its efforts were stymied by the complexity of a potential agreement.

In the tech sector, Hewlett-Packard (NYSE:HPQ) rose 0.22% in pre-market trade after Chief Executive Officer Meg Whitman announced more job cuts ahead after 11 consecutive quarters of declining sales.

On Thursday, the computer hardware and services reported second-quarter revenue of $27.3 billion, versus estimates of $27.4 billion.
Elsewhere, Aeropostale (NYSE:ARO) saw shares dive 15.49% in extended trade after the retailer late Thursday forecast a bigger loss than estimated.

Other stocks likely to be in focus included Foot Locker (NYSE:FL), scheduled to report quarterly earnings later in the day.

Across the Atlantic, European stock markets were mixed to higher. The DJ Euro Stoxx 50 edged up 0.07%, France’s CAC 40 added 0.10%, Germany's DAX rose 0.25%, while Britain's FTSE 100 fell 0.23%.

During the Asian trading session, Hong Kong's Hang Seng inched up 0.05%, while Japan’s Nikkei 225 advanced 0.87%.
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European stocks decline, eyes on German data; Dax down 0.13%

European stocks were lower on Friday, as the release of disappointing euro zone data on Thursday continued to weigh and as investors eyed an upcoming report on German business climate.
European stocks decline, eyes on German data; Dax down 0.13%European stocks open lower on Thursday's data, German report ahead

During European morning trade, the DJ Euro Stoxx 50 shed 0.31%, France’s CAC 40 fell 0.20%, while Germany’s DAX slipped 0.13%.
Markets were jittery after data on Thursday showed that manufacturing activity in the euro zone expanded at the slowest rate in six months in May, although the region’s service sector expanded at the fastest rate in almost three years.

Separately, Germany’s private sector continued to grow strongly this month but the French private sector fell back into contraction territory.

Market participants also continued to focus on developments in Ukraine, where presidential elections were scheduled to take place on Sunday May 25. U.S. and European officials have already warned that Russia would face additional sanctions if Moscow disrupts the upcoming elections.

Financial stocks were mixed, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) rose 0.31% and 0.42%, while Germany's Deutsche Bank (XETRA:DBKGn) tumbled 1.59%.

Among peripheral lenders, Italy's Unicredit (MILAN:CRDI) and Intesa Sanpaolo (MILAN:ISP) added 0.13% and 0.31%% respectively, while Spain's BBVA (MADRID:BBVA) and Banco Santander (MADRID:SAN) slipped 0.07% and 0.27%.

Elsewhere, Alstom (PARIS:ALSO) retreated 0.96% after General Electric (NYSE:GE) agreed to a French government request to extend by three weeks the deadline for its planned $17 billion purchase of the company's energy units.

In London, FTSE 100 slid 0.33%, weighed by Smiths Group (LONDON:SMIN), down 3.76%, after the producer of security scanners forecast a decline in profitability at its Smiths Detection unit.

Sabmiller (LONDON:SAB) also remained under pressure for the second consecutive session, dropping 0.88%, after after the brewer on Thursday predicted little change in business conditions this year and reported full-year earnings in line with analysts’ estimates.

Mining stocks added to losses, as Glencore Xstrata 
(LONDON:GLEN) edged down 0.15% and Rio Tinto (LONDON:RIO) declined 0.50%, while rivals Bhp Billiton (LONDON:BLT) and Fresnillo (LONDON:FRES) retreated 0.57% and 0.77% respectively.

In the financial sector, stocks were mixed. Shares in the Royal Bank of Scotland (LONDON:RBS) edged up 0.15% and Lloyds Banking (LONDON:LLOY) added 0.21%, while Barclays (LONDON:BARC) and HSBC Holdings (LONDON:HSBA) dipped 0.02% and 0.04%.

In the U.S., equity markets pointed to a steady. The Dow 30 futures pointed to a 0.01% dip, S&P 500 futures signaled a 0.01% uptick, while the Nasdaq 100 futures indicated a 0.03% gain.

Later in the day, the Ifo Institute was to publish data on German business climate, while the U.S. was to release data on new homes sales.
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Zinc may witness down at 121, support at 120.5

Technically market is under Fresh Selling as market has witnessed gain in open interest by 11.03% to settled at 2194 while prices down -0.35 rupee, now Zinc is getting support at 120.5 and below same could see a test of 119.9 level, and resistance is now likely to be seen at 121.8, a move above could see prices testing 122.5.

Trading Ideas:
--Zinc Trading Range for the day is 119.9-122.5.
--Zinc ended with losses as firmness in rupee weighed despite both China's and US manufacturing data in May topped expectations.
--In US, the preliminary Markit manufacturing PMI rose to 56.2 in May, while the existing home sales for April grew for the first time this year to 4.65 million.
--China Zinc Demand Growth to Slow to 3% in 2014.
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Silver may witness gains at 40976, trading range 40467-41709

Technically market is under Short and Getting Support at 40722 and below same could see a test of 40467 level, and resistance is now likely to be seen at 41343, a move above could see prices testing 41709.

Trading Ideas:
--Silver Trading Range for the day is 40467-41709.
--Silver prices seen supported after the U.S. Federal Reserve indicated no intention to raise interest rates soon.
--Fes’s minutes revealed U.S. central bank plans to continue tapering its monthly bond-buying program and rely on other tools to normalize monetary policy.
--Holdings at ishares silver trust dropped by 0.35% i.e. 35.86 tonnes to 10284.40 tonnes from 10320.26 tonnes.
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Asian stocks mostly higher, led by gains on Nikkei

Asian shares were led higher by Japan on Friday with tentative signs of a more upbeat outlook for the region with China's maufacturing on a slight upswing and India's new government poised to focus on the economy.

Asian stocks mostly higher, led by gains on NikkeiNikkei leads Asia higher
Still, the potential impact of a military coup in Thailand weighs on regional sentiment even as Thai stocks have proved resilient with the SET 100 flat week-to-date and one of Asia's best performing markets so far in 2014.

The Nikkei 225 was up 0.94% on the morning and on track to complete its best week in over a month, with the index up 2.6% week-to-date.

Sony Corp Ord (TOKYO:6758) fell 2.3% in Tokyo after the market was left unimpressed by its chief executive's ambitious target to increase the company's operating profit by threefold by next fiscal year.

Australia's S&P/ASX 200 was up 0.4% and South Korea's KOSPI added less than 0.1%.

But Hong Kong's Hang Seng Index inched down 0.08% and the Shanghai Composite fell 0.03%.

Overnight, U.S. stocks rose on the coattails of solid economic indicators coupled with ongoing expectations for the Federal Reserve to keep benchmark interest rates at rock-bottom levels for a considerable time period after monetary stimulus programs wrap up.
The Dow 30 rose 0.06%, the S&P 500 index rose 0.24%, while the NASDAQ Composite Composite index rose 0.55%.

The National Association of Realtors reported earlier that U.S. existing home sales increased 1.3% in April to an annual rate of 4.65 million units.

Analysts were expecting existing home sales to rise 2.2% to 4.68 million last month, however, April's increase indicated that the housing market continues to improve and drew applause on Wall Street.

A separate report showed that U.S. manufacturing activity expanded at a faster rate than expected this month. London-based Markit Economics reported earlier that its preliminary U.S. manufacturing purchasing managers' index rose to 56.2 from a final reading of 55.4 in April, beating expectations of 55.5.

The data came after the Labor Department reported that the number of individuals filing for initial jobless benefits last week increased by 28,000 to 326,000 from the previous week’s revised total of 298,000. Analysts had expected jobless claims to rise by 12,000 to 310,000, though markets shrugged off the data.

Expectations for monetary policy to transition from ultra-loose to accommodative over the long term also boosted stock prices.

On Wednesday, the Federal Reserve released the minutes of its April policy meeting, which revealed the U.S. central bank plans to continue tapering its monthly bond-buying program and rely on other tools to normalize monetary policy, though actual rate hikes won't come for a considerable amount of time.

On Friday, the U.S. is to round up the week with data on new homes sales.
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European stocks remain mixed E.Z. PMI reports; Dax up 0.09%

European stocks remained mixed on Thursday, after the release of mostly disappointing manufacturing and service sector data from the euro zone.

European stocks remain mixed E.Z. PMI reports; Dax up 0.09%European stocks still mixed after mostly disappointing data
During European afternoon trade, the DJ Euro Stoxx 50 slipped 0.18%, France’s CAC 40 fell 0.23%, while Germany’s DAX edged up 0.09%.

Markit said the euro zone flash manufacturing purchasing managers’ index slid to 52.5 in May, from 53.4 in April, expanding at the slowest rate in six months and compared to expectations of 53.2.

The bloc’s services PMI rose to a 35-month high of 53.5 up from 53.1 in April, expanding at the fastest rate in almost three years. Analysts had expected the index to tick down to 53.0.

Germany’s manufacturing PMI slowed to a six month low of 52.9 this month from 54.1 in April, while the services PMI improved to 56.4 from 54.7 last month, growing at the fastest rate in nearly three years.

The French private sector fell back into contraction territory this month, with its manufacturing PMI down to a three month low of 49.3 from 51.2 in April and its services PMI falling to 49.2 from 50.4 last month.

Financial stocks were mixed, as BNP Paribas (PARIS:BNPP) added 0.10% and Societe Generale (PARIS:SOGN) declined 0.65% in France, while Germany's Deutsche Bank (XETRA:DBKGn) edged up 0.15%.

Among peripheral lenders, Italy's Unicredit (MILAN:CRDI) and Intesa Sanpaolo (MILAN:ISP) tumbled 1.55% and 1.78% respectively, while BBVA (MADRID:BBVA) inched up 0.02% and Banco Santander (MADRID:SAN) retreated 0.91% in Spain.

Elsewhere, Vivendi (PARIS:VIV) advanced 0.40% after saying it plans to sell about half of its remaining stake in video-game maker Activision Blizzard (NASDAQ:ATVI) in an offering valued at $866 million. The sale is expected to be completed by May 28.

Peugeot (PARIS:PEUP) added to gains, surging 2.42%, after the French carmaker completed the sale of 289 million new shares as part of a €3 billion capital increase.

In London, FTSE 100 edged up 0.07%, still led by Sabmiller (LONDON:SAB), up 3.43%, after the world’s second-biggest brewer predicted little change in business conditions this year and reported full-year earnings in line with analysts’ estimates.

Mining stocks also remained on the upside, as Glencore Xstrata (LONDON:GLEN) climbed 0.71% and Rio Tinto (LONDON:RIO) rallied 1.12%, while Fresnillo (LONDON:FRES) and Vedanta Resources (LONDON:VED) surged 2.38% and 3.45% respectively.

On the downside, Unilever (LONDON:ULVR) declined 0.72% after the maker of Magnum ice cream agreed to sell the Ragu and Bertolli North America pasta sauces business to Japanese food manufacturer Mizkan Group for about $2.15 billion in cash.

Financial stocks remained mixed. Shares in the Royal Bank of Scotland (LONDON:RBS) and HSBC Holdings (LONDON:HSBA) dropped 0.42% and 0.57%, while Lloyds Banking (LONDON:LLOY) added 0.07% and Barclays (LONDON:BARC) gained 0.89%.

Also in the U.K., data confirmed that the U.K. economy grew 0.8% in the first three months of the year, disappointing some market expectations for an upward revision.

In the U.S., equity markets pointed to a moderately higher open. The Dow 30 futures pointed to a 0.13% rise, S&P 500 futures signaled a 0.09% gain, while the Nasdaq 100 futures indicated a 0.10% increase.

Later in the day, the U.S. was to produce its weekly report on initial jobless claims and private sector data on existing home sales.
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European stocks mixed after French, German PMIs; Dax up 0.20%

European stocks were mixed on Thursday, after the release of disappointing French and German data, as a positive Chinese manufacturing report lent support and as investors awaited economic reports from the euro zone.

European stocks mixed after French, German PMIs; Dax up 0.20%European stocks turn mixed after disappointing PMI data
During European morning trade, the DJ Euro Stoxx 50 eased 0.02%, France’s CAC 40 dipped 0.01%, while Germany’s DAX rose 0.20%.

Markit research group said France's flash manufacturing purchasing managers' index fell to 49.3 this month, from a reading of 51.2 in April, compared to expectations for a downtick to 51.0.
France's flash services PMI fell to 49.2 in May, from a reading of 50.4 the previous month, confounding expectations for a fall to 50.2.

Markit also said that Germany's manufacturing PMI fell to 52.9 this month, from 54.1 in April, disappointing expectations for a slip to 54.0.

Germany's services PMI rose to 56.4 in May, from a reading of 54.7 in April, compared to expectations for a fall to 54.5.

Market sentiment found some support after data earlier showed that the preliminary reading of China’s HSBC manufacturing index rose to a five month high of 49.7 this month, up from a final reading 49.4 in April, but still remained below the 50 level separating contraction from expansion.

Financial stocks were mostly higher, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) added 0.24% and 0.12%, while Germany's Deutsche Bank (XETRA:DBKGn) rose 0.35%.

Among peripheral lenders, Intesa Sanpaolo (MILAN:ISP) edged up 0.09% and Unicredit (MILAN:CRDI) dropped 0.54% in Italy, while Spain's BBVA (MADRID:BBVA) climbed 0.48%.

Elsewhere, Vivendi (PARIS:VIV) advanced 0.50% after saying it plans to sell about half of its remaining stake in video-game maker Activision Blizzard (NASDAQ:ATVI) in an offering valued at $866 million. The sale is expected to be completed by May 28.

Peugeot (PARIS:PEUP) added to gains, surging 3.49%, after the French carmaker completed the sale of 289 million new shares as part of a €3 billion capital increase.

In London, FTSE 100 rose 0.31%, led by Sabmiller (LONDON:SAB), up 3.69%, after the world’s second-biggest brewer predicted little change in business conditions this year and reported full-year earnings in line with analysts’ estimates.

Mining stocks were also on the upside, as Glencore Xstrata (LONDON:GLEN) jumped 1.29% and Rio Tinto (LONDON:RIO) rallied 1.61%, while Bhp Billiton (LONDON:BLT) gained 1.25% and Vedanta Resources (LONDON:VED) surged 3.16%.

On the downside, Unilever (LONDON:ULVR) slipped 0.19% after the maker of Magnum ice cream agreed to sell the Ragu and Bertolli North America pasta sauces business to Japanese food manufacturer Mizkan Group for about $2.15 billion in cash.

Meanwhile, financial stocks were mixed. Shares in HSBC Holdings (LONDON:HSBA) edged down 0.11% and the Royal Bank of Scotland (LONDON:RBS) declined 0.46%, while Lloyds Banking (LONDON:LLOY) and Barclays (LONDON:BARC) advanced 0.45% and 0.52% respectively.

In the U.S., equity markets pointed to a moderately higher open. The Dow 30 futures pointed to a 0.16% rise, S&P 500 futures signaled a 0.09% gain, while the Nasdaq 100 futures indicated a 0.07% uptick.

Later in the day, the euro zone was to release data on manufacturing and service sector activity. The U.S. was to produce its weekly report on initial jobless claims and private sector data on existing home sales.
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Asian shares gain on HSBC China PMI recovery, Hang Seng up 0.74%

Asian markets were higher on Thursday as China's manufacturing sector showed surprising strength and helped the region build on Wall Street gains overnight.

Asian shares gain on HSBC China PMI recovery, Hang Seng up 0.74%Asian shares gain on strong HSBC China PMI
Hong Kong's Hang Seng Index was up 0.74% and the Shanghai Composite gained 0.41% after HSBC's China preliminary manufacturing Purchasing Managers Index came out 49.7 for May, a sharp increase from a final reading of 48.1 in April.

The improvement was broad-based with both new orders and new export orders back in expansionary territory," said HSBC chief China economist Qu Hongbin.

"Disinflationary pressures also eased over the month and output prices increased for the first time since November 2013. However, the employment index fell further to 47.3, which implies that this month's uptick in sentiment has not yet filtered through to the labour market. 

Some tentative signs of stabilization are emerging, partly as a result of the recent mini-stimulus measures and lower borrowing costs. But downside risks to growth remain, particularly as the property market continues to cool. We think more policy easing is needed to put a floor under growth in the coming months."

Although the measure remains just below 50, indicating manufacturing is still contracting, the latest number points to stabilization in activity among China's factories after a string of larger declines in the reading.

In Japan, the Nikkei 225 added 1.6%, outperforming the rest of the region as the market was helped by a softer local currency.

Overnight, U.S. stocks shot up after the minutes from the Federal Reserve's April meeting revealed monetary authorities are working on ways to wind down ultra-loose policy though rate hikes aren't on the drawing board as of yet.

The Dow 30 rose 0.97%, the S&P 500 index rose 0.81%, while the NASDAQ Composite Composite index rose 0.85%.

The Federal Reserve Board of Governors agreed at their April policy meeting that the time has come to discuss ways to wrap up monetary stimulus programs, though rate hikes aren't on the drawing board yet, as no inflationary risks have become evident due to ultra-loose policies.

Stocks rose on the somewhat dovish report.
The Fed is currently purchasing $45 billion in Treasury and mortgage debt a month to spur recovery, a monetary policy tool known as quantitative easing that suppresses long-term interest rates, weakening the dollar while boosting stock prices on hopes investing and hiring will follow suit.

Monetary authorities agreed at their April meeting to seek out a mix of tools to normalize monetary policy and wind down the bond-buying program, which came as little surprise, though the U.S. central bank didn't spell out exactly when benchmark interest-rate hikes would begin, which drew applause on Wall Street.

On Thursday, the U.S. is to release its weekly report on initial jobless claims and private sector data on existing home sales.
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European stocks mixed, Fed minutes ahead; Dax down up 0.16%

European stocks were mixed on Wednesday, as investors eyed the minutes of the Federal Reserve's latest policy meeting and as markets awaited more information on the future of the European Central Bank's next policy moves.

European stocks mixed, Fed minutes ahead; Dax down up 0.16%Frankfurt Stock Exchange
During European afternoon trade, the DJ Euro Stoxx 50 edged up 0.10%, France’s CAC 40 fell 0.25%, while Germany’s DAX added 0.16%.

European equities strengthened recently amid mounting expectations for monetary easing by the ECB at its next meeting in June and data last week showing that the euro zone economy grew at a slower than forecast rate in the first quarter.

But markets were jittery ahead of the minutes from the Fed’s latest monetary policy meeting due later on Wednesday, as investors awaited further indications on the central bank's view of the economy.

Financial stocks turned broadly higher, as French lender Societe Generale (PARIS:SOGN) jumped 1.12%, while Germany's Deutsche Bank (XETRA:DBKGn) and Commerzbank (XETRA:CBKG) climbed 0.38% and 1.41%.

BNP Paribas (PARIS:BNPP) was still hit however, down 1.45%, following earlier news the U.S. will seek more than $5 billion from the French bank to settle a probe into alleged violations of U.S. sanctions.

Among peripheral lenders, Italy's Intesa Sanpaolo (MILAN:ISP) and Unicredit (MILAN:CRDI) gained 0.61% and 1.08% respectively, while Spain's Banco Santander (MADRID:SAN) and BBVA (MADRID:BBVA) rose 0.34% and 0.50%.

Elsewhere, Alstom (PARIS:ALSO) dropped 0.75% after Chief Executive Officer Patrick Kron called on the French government to back a $17 billion offer by General Electric (NYSE:GE) for its energy units, saying uncertainty about his company’s future is making it difficult to win orders.

In London, FTSE 100 edged down 0.19%, after the minutes of the Bank of England’s May meeting showed that some members believe the decision on when to raise rates is "becoming more balanced," indicating that some policymakers are becoming more hawkish about the argument for hiking borrowing costs.

Financial stocks turned mixed, as the Royal Bank of Scotland (LONDON:RBS) added 0.21% and Barclays (LONDON:BARC) advanced 0.85%, while Lloyds Banking (LONDON:LLOY) retreated 0.74%, and HSBC Holdings (LONDON:HSBA) plummeted 1.67%.

Meanwhile, mining stocks remained broadly lower, as Bhp Billiton (LONDON:BLT) slipped 0.10% and Rio Tinto (LONDON:RIO) declined 0.44%, while Glencore Xstrata (LONDON:GLEN) retreated 0.85%.

Burberry Group (LONDON:BRBY) erased earlier losses on the other hand, rallying 1.19%, after the luxury-goods maker reported full-year profit exceeding analysts’ estimates.

Astrazeneca (LONDON:AZN) added to gains, up 1.22%, after Neil Woodford, a long-time shareholder and one of the group's biggest institutional stockholders, said the drugmaker will earn better returns for shareholders by staying independent and therefore refusing Pfizer (NYSE:PFE)'s £69 billion takeover offer.

Also in the U.K., the Office of National Statistics said retail sales jumped 1.3% in April, more than double forecasts for a 0.5% increase, driven by higher food sales over the Easter holiday.

On a year-over-year basis, retail sales climbed 6.9% in April, ahead of expectations for a 5.2% gain after rising by 4.8% in March.

In the U.S., equity markets pointed to a higher open. The Dow 30 futures pointed to a 0.32% rise, S&P 500 futures signaled a 0.33% gain, while the Nasdaq 100 futures indicated a 0.38% increase.
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Dollar at fresh 3-1/2 month lows against yen

The dollar fell to fresh three-and-a-half month lows against the stronger yen on Wednesday after the Bank of Japan said its stimulus program has been working as intended, and refrained from implementing additional easing measures.

Dollar at fresh 3-1/2 month lows against yenDollar falls to fresh 3-1/2 month lows against yen
USD/JPY was down 0.39% to 100.92, the weakest level since February 5.

The BoJ refrained from enlarging its stimulus program as the economy shows signs of weathering the impact of a sales tax increase that came into effect on April 1. The central bank said it will continue to expand the monetary base at a pace of ¥60 trillion to ¥70 trillion per year at the conclusion of its two-day ploicy meeting.

Also Wednesday, official data showed that Japan posted a trade deficit of ¥808.9 billion, compared to a forecast of a deficit of ¥640.0 billion.

Investors were turning their attention to of the minutes from the Fed’s latest monetary policy meeting due out later Wednesday, for insight on the central bank's view of the economy.
Recent U.S. economic reports indicating that the recovery remains uneven have weighed on U.S. Treasury yields, pressuring the dollar lower.

On Tuesday, New York Fed President William Dudley reiterated the central bank’s dovish stance, saying the pace of rate hikes was likely to be “slow”.

The euro was also trading at more than three month lows against the yen, with EUR/JPY down 0.32% to 138.38, the weakest since February 7.

The shared currency edged higher against the dollar, with EUR/USD easing up 0.08% to 1.3711, not far from the two-and-a-half month lows of 1.3647 reached late last week.

The euro remained under pressure from mounting expectations for monetary easing by the European Central Bank at its next meeting in June and data last week showing that the euro zone economy grew at a slower than forecast rate in the first quarter.

The pound pushed higher ahead of U.K. data on retail sales and the latest Bank of England minutes, due out later in the session, with GBP/USD up 0.25% to 1.6879.

The dollar slid against the Swiss franc, with USD/CHF down 0.16% to 0.8905.

The Australian dollar fell to its lowest level in two weeks, with AUD/USD slipping 0.11% to 0.9231, after data showed that consumer sentiment in Australia deteriorated this month.

Elsewhere, the New Zealand and Canadian dollars were almost unchanged, with NZD/USD at 0.8569 and USD/CAD at 1.0902.

The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.16% to 79.97.
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U.S. futures rise ahead of Fed minutes; Dow Jones up 0.23%

U.S. stock futures pointed to a higher open on Wednesday, as markets eyed the minutes of the Federal Reserve's most recent policy meeting, due later in the day.

U.S. futures rise ahead of Fed minutes; Dow Jones up 0.23%U.S. futures point to higher open as markets turn to Fed
Ahead of the open, the Dow 30 futures pointed to a 0.23% gain, S&P 500 futures signaled a 0.25% rise, while the Nasdaq 100 futures indicated a 0.28% increase.

Markets were jittery ahead of the minutes from the Fed’s latest monetary policy meeting due later on Wednesday, as investors awaited further indications on the central bank's view of the economy.

Recent U.S. economic reports indicating that the recovery remains uneven have weighed on U.S. Treasury yields, pressuring the dollar lower.

The tech sector was set to be in focus, after Microsoft (NASDAQ:MSFT) said it is currently working with China’s government to evaluate its Windows 8 operating system after the software was excluded from a government purchasing order. 

Shares in the software maker slipped 0.20% in after-hour trade.
In addition, Microsoft on Tuesday unveiled a larger and lighter version of its Surface Pro tablet, in a move to counter the popularity of Apple (NASDAQ:AAPL)'s iPad and MacBook Air laptop
.
Salesforce.com (NYSE:CRM) climbed 0.57% pre-market, after the maker of customer-management software late Tuesday forecast second-quarter sales that exceeded analysts’ predictions.

General Electric (NYSE:GE) was also slated to move, as Alstom (PARIS:ALSO) Chief Executive Officer Patrick Kron called on the French government to back the U.S. group's $17 billion offer to buy the company's energy units, saying uncertainty about Alstom's future is making it difficult to win orders.

Among Internet-related stocks, Netflix (NASDAQ:NFLX) said it is preparing to launch its online movie and TV subscription service later this year in France, Germany, Austria, Switzerland, Belgium and Luxembourg. Shares were steady, down 0.07%, in extended trade.

Yahoo! Inc (NASDAQ:YHOO), down 0.06% in late trading, was also slated to move amid reports it is in early discussions to acquire startup RayV Inc., with hopes of expanding its array of Internet-video services.

Other stocks likely to be in focus included Target (NYSE:TGT), PetSmart (NASDAQ:PETM), Tiffany & Co (NYSE:TIF), American Eagle Outfitters (NYSE:AEO), NetApp (NASDAQ:NTAP) and Williams-Sonoma (NYSE:WSM), scheduled to report quarterly earnings later in the day.

Across the Atlantic, European stock markets were mixed to higher. The DJ Euro Stoxx 50 rose 0.29%, France’s CAC 40 eased up 0.04%, Germany's DAX added 0.26%, while Britain's FTSE 100 dipped 0.06%.

During the Asian trading session, Hong Kong's Hang Seng inched up 0.01%, while Japan’s Nikkei 225 fell 0.24%.
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Aluminium may trade 100.6-103.4 range,support at 101.4

Technically market is under fresh buying as market has witnessed gain in open interest by 0.09% to settled at 7905 while prices up 0.05 rupee, now Aluminium is getting support at 101.4 and below same could see a test of 100.6 level, and resistance is now likely to be seen at 102.8, a move above could see prices testing 103.4.

Trading Ideas:
--Aluminium trading range for the day is 100.6-103.4.
--Aluminium settled flat as the US dollar index showed limited change given limited economic releases.
--Global demand for primary aluminium is set to rise 7 percent in 2014 on the back of solid growth in China –Alcoa
--Technically market is under fresh buying as market has witnessed gain in open interest by 0.09% to settled at 7905.
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European stocks decline with central banks in focus; Dax down down 0.23%

European stocks were lower on Wednesday, as investors remained cautious ahead of the minutes of the Bank of England and the Federal Reserve's latest policy meetings and as markets awaited more information on the future of the European Central Bank's next policy moves.

European stocks decline with central banks in focus; Dax down down 0.23%European stocks open lower ahead of central bank minutes

During European morning trade, the DJ Euro Stoxx 50 fell 0.28%, France’s CAC 40 retreated 0.41%, while Germany’s DAX slipped 0.23%.

European equities had recently strengthened amid mounting expectations for monetary easing by the ECB at its next meeting in June and data last week showing that the euro zone economy grew at a slower than forecast rate in the first quarter.

But markets were jittery ahead of the minutes from the Fed’s latest monetary policy meeting due later on Wednesday, as investors awaited further indications on the central bank's view of the economy.

Financial stocks were broadly lower, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) declined 2.52% and 0.70%, while Germany's Deutsche Bank (XETRA:DBKGn) fell 0.28%.

BNP Paribas was hit by earlier news the U.S. will seek more than $5 billion from the bank to settle a probe into alleged violations of U.S. sanctions.

Among peripheral lenders, Italy's Intesa Sanpaolo (MILAN:ISP) and Unicredit (MILAN:CRDI) tumbled 1.01% and 1.08% respectively, while Spain's BBVA (MADRID:BBVA) and Banco Santander (MADRID:SAN) slid 0.66% and 0.85%.

Elsewhere, Alstom (PARIS:ALSO) edged 0.12% lower after Chief Executive Officer Patrick Kron called on the French government to back a $17 billion offer by General Electric (NYSE:GE) for its energy units, saying uncertainty about his company’s future is making it difficult to win orders.

In London, FTSE 100 fell 0.16%, as U.K. lenders tracked their European counterparts lower.

Shares in the Royal Bank of Scotland (LONDON:RBS) dropped 0.40% and Lloyds Banking (LONDON:LLOY) retreated 0.76%, while HSBC Holdings (LONDON:HSBA) plummeted 1.55%. Barclays (LONDON:BARC) overperformed on the other hand, gaining 0.40%.

Mining stocks were also broadly lower, with Glencore Xstrata (LONDON:GLEN) down 1.18% and Bhp Billiton (LONDON:BLT) declining 0.81%, while Vedanta Resources (LONDON:VED) and Rio Tinto (LONDON:RIO) tumbled 1.04% and 1.36% respectively.

Meanwhile, Burberry Group (LONDON:BRBY) slipped 0.25% after the luxury-goods maker reported full-year profit exceeding analysts’ estimates.

On the upside, Astrazeneca (LONDON:AZN) saw shares climb 0.55% after Neil Woodford, a long-time shareholder and one of the group's biggest institutional stockholders, said the drugmaker will earn better returns for shareholders by staying independent and therefore refusing Pfizer (NYSE:PFE)'s £69 billion takeover offer.

In the U.S., equity markets pointed to a steady open. The Dow 30 futures pointed to a 0.06% gain, S&P 500 futures signaled a 0.05% uptick, while the Nasdaq 100 futures indicated a 0.05% rise.
Later in the day, the U.K. was to release data on retail sales.
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Euro expected to trade positive on back of weak in DX

The Euro traded on a positive note around 0.1 percent yesterday on the back of weakness in the DX. Further, upbeat market sentiments supported an upside in the currency. 

However, sharp upside in the currency was capped due to German Buba President Weidmann statement that central bank will monitor forex moves closely and take appropriate steps if needed. The Euro touched an intra-day high of 1.3734 and closed at 1.3707 on Monday. 

In today’s trade, the Euro is expected to trade on a positive note on the back of weakness in the DX. Further, upbeat market sentiments will support an upside in the currency. 

Expectations of favourable economic data from the region will continue with positive movement in the currency.  
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Japanese Yen may trade lower on Tuesday

The Japanese Yen traded on a flat note and depreciated marginally yesterday on the back of upbeat market sentiments which led to fall in demand for the low yielding currency. The Yen touched an intra-day low of 101.59 and closed at 101.49 on Monday. 

We expect Japanese Yen to trade lower today on account of rise in risk appetite in market sentiments which will lead to fall in demand for the low yielding currency. 

However, estimates of favorable economic data from the country will cushion sharp downside or reversal in the currency. 
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European stocks mostly higher in choppy trade; Dax up 0.23%

European stocks were mostly higher in choppy trade on Tuesday, amid growing expectations for fresh easing measures by the European Central Bank, although markets were jittery ahead of the minutes of the Federal Reserve's most recent policy meeting.

European stocks mostly higher in choppy trade; Dax up 0.23%European stocks edge higher but caution remains
During European morning trade, the DJ Euro Stoxx 50 added 0.16%, France’s CAC 40 inched 0.05% higher, while Germany’s DAX rose 0.23%.

Market participants eyed the minutes from the Fed’s latest monetary policy meeting on Wednesday for further indications on the central bank's view of the economy.

European equities had strengthened last week amid mounting expectations that the ECB will ease monetary policy at its upcoming June meeting to safeguard the recovery in the euro zone and stop inflation from falling too low.

Recent comments by ECB officials have indicated that the bank is open to easing and is prepared to act swiftly if necessary.

Financial stocks were broadly higher, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) gained 0.75% and 0.12%, while Germany's Deutsche Bank (XETRA:DBKGn) rose 0.31%.

Among peripheral lenders, Italy's Unicredit (MILAN:CRDI) and Intesa Sanpaolo (MILAN:ISP) were up 0.04% and 0.77% respectively, while Spain's Banco Santander (MADRID:SAN) climbed 0.54%.

Credit Suisse Group (SIX:CSGN) added to gains, rallying 1.80%, after pleading guilty on Monday to aiding Americans’ tax evasion. Instead of identifying the thousands of customers who cheated the Internal Revenue Service, the lender reportedly promised to point investigators in the right direction.

On the downside, Deutsche Annington Immobilien (XETRA:ANNGn) plunged 3.52% after a number of investors offered to sell a 12.5% stake in the German real-estate company.

In London, FTSE 100 dipped 0.02%, led by Vodafone (LONDON:VOD), down 3.62%, after the telecom company predicted that earnings will fall to as low as £11.4 billion pounds in the year ending March 2015.

Marks & Spencer (LONDON:MKS) was also on the downside, with shares tumbling 2.26%, even as the retailer's earnings exceeded projections.

Meanwhile, financial stocks were broadly higher. Shares in HSBC Holdings (LONDON:HSBA) edged up 0.10% and Barclays (LONDON:BARC) added 0.14%, while Lloyds Banking (LONDON:LLOY) and the Royal Bank of Scotland (LONDON:RBS) advanced 0.61% and 0.74% respectively.

In the mining sector, stocks were also mostly higher as Glencore Xstrata (LONDON:GLEN) rose 0.26% and Rio Tinto (LONDON:RIO) gained 0.22%, while Vedanta Resources (LONDON:VED) jumped 1.27%.

In the U.S., equity markets pointed to a moderately higher open. The Dow 30 futures pointed to a 0.14% rise, S&P 500 futures signaled a 0.09% gain, while the Nasdaq 100 futures indicated a 0.18% increase.
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GOLD CALLS 20-MAY-2014

GOLD SELL BLW 28190 TGT 28130 TGT 28080 TGT 28030 SL 28250  PUNJINIVESH CONTACT 9619662404

GOLD SELL BLW 28190 TGT 28130 TGT 28080 TGT 28030 SL 28250  PUNJINIVESH CONTACT 9619662404

GOLD SELL BLW 28190 TGT 28130 TGT 28080 TGT 28030 SL 28250  PUNJINIVESH CONTACT 9619662404

GOLD SELL BLW 28190 TGT 28130 TGT 28080 TGT 28030 SL 28250  PUNJINIVESH CONTACT 9619662404
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Asia stocks mostly higher; Nikkei ends up 0.5%

Asian stock markets were mostly higher on Tuesday, as an upbeat overnight session on Wall Street lifted sentiment.
Asia stocks mostly higher; Nikkei ends up 0.5%Asia stocks mostly higher, tracking U.S. gains

During late Asian trade, Hong Kong's Hang Seng added 0.35%, China’s Shanghai Composite inched up 0.14%, Australia’s S&P/ASX 200 closed 0.21% higher, while Japan’s Nikkei 225 ended up 0.49%.

Asia was given a positive lead from the U.S., where markets ended higher as Internet shares extended a rebound.

In Tokyo, the Nikkei ended higher for the first time in five sessions as traders continued to monitor movements in the currency market. The yen USD/JPY weakened against the dollar, trading at ¥101.59 from ¥101.09 in the previous session.

A weaker yen increases the value of overseas income at Japanese companies when repatriated, boosting the outlook for export earnings.

Yahoo Japan (TOKYO:4689) saw shares jump 11.7% after the company scrapped plans to acquire mobile telecoms provider eAccess from Softbank (TOKYO:9984) in a deal valued at approximately $4.4 billion.

Traders were looking ahead to the conclusion of the Bank of Japan’s two-day policy meeting on Wednesday. The central bank is widely expected to keep policy unchanged.

Meanwhile, in Australia, the ASX/200 Index bounced off a one-month low hit earlier in the session, but sentiment remained shaky after ratings agency Standard & Poor’s warned that Australia’s coveted AAA-rating was at risk unless substantial cuts were made to the budget.

The Australian dollar (AUD/USD) weakened to 92.70 U.S. cents from 93.65 in the prior session.

Treasury Wine Estates (ASX:TWE) surged 18% after the winemaker rejected a $2.9 billion takeover bid from U.S. private-equity firm Kohlberg Kravis Roberts.

Elsewhere, shares in mainland China and Hong Kong edged higher, but gains were limited amid ongoing concerns over the outlook for growth in China.

Index heavyweights Lenovo (HK:0992) and Tencent (HK:0700) rallied 4% and 2% respectively.

In Thailand, the SET 100 benchmark index dropped 1% after the Thai army chief said the military would impose martial law to address a worsening security situation. The country is bitterly divided between supporters of the populist government and their conservative rivals.

Looking ahead, European stock market futures pointed to a mixed open. The Euro Stoxx 50 futures pointed to a loss of 0.15%, France’s CAC 40 declined 0.2%, London’s FTSE 100 indicated a gain of 0.1%, while Germany's DAX pointed to a flat open.

Across the Atlantic, U.S. equity markets pointed to a modestly lower open. The Dow pointed to a drop of 0.1%, the S&P 500 inched down 0.1%, while the Nasdaq 100 indicated a decline of 0.1%.
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NICKEL & LEAD CALLS 20-MAY-2014

LEAD SELL BLW 125.55 TGT 125.10 TGT 124.60 TGT 124
SL 126.20 PUNJINIVESH CONTACT 9619662404

LEAD SELL BLW 125.55 TGT 125.10 TGT 124.60 TGT 124
SL 126.20 PUNJINIVESH CONTACT 9619662404
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NICKEL SELL BLW 1161 TGT 1153 TGT 1143 TGT 1135 
SL 1172  PUNJINIVESH CONTACT 9619662404

NICKEL SELL BLW 1161 TGT 1153 TGT 1143 TGT 1135 
SL 1172  PUNJINIVESH CONTACT 9619662404
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BASE METALS TRADE RANGE

Base metals can open in negative path tracking weak international markets except Nickel which can move higher on supply problems.

Copper may trade in range of 407-416 .

Lead may move in range of 124-126. 

Aluminum may move in range of 101-103. 

Nickel may move in range of 1160-1200 in MCX. 

Zinc may move in range of 121-123. 

The global surplus will drop to a four-year low this year and the market will swing to a deficit next year, OAO GMK Norilsk Nickel, the world’s largest producer of the refined metal, said yesterday. 

Demand for Nickel will exceed output through 2019 as consumers seek to replace supplies from Indonesia after the government barred exports of raw ore in January, Macquarie Group Ltd. said last week. 

Copper in London declined 0.2 percent to $6,914 a ton after touching $6,954 yesterday, the highest price since March 7. 

Stockpiles monitored by the LME have slumped 50 percent this year to 183,050 tons, the lowest since September 2008.
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Rupee may trade on positive on victory for BJP in general election results

On a weekly basis, Indian Rupee hit an eleven month high and appreciated around 2.5 percent. The currency appreciated on the back of victory for Bharatiya Janata Party (BJP) which sweeps the election results. 

Further, sustained inflow of dollars into equities which led to upside in the domestic market sentiments acted as a positive factor. Selling of dollars by corporate companies and exporters along with optimistic wholesale inflation data from the country continued with positive movement in the Indian Rupee. 

However, sharp upside in the currency was capped due to estimates of dollar buying by the Reserve Bank of India (RBI) and dollar demand from oil importers. 

Also, unfavorable retail inflation data and decline in industrial production restricted positive movement in the currency. The Indian Rupee touched a weekly high of 58.57 and closed at same levels on Friday. 

For the month of April 2014, FII inflows totaled at Rs.9423.60 crores ($1573.38 million) as on 16th May 2014. Year to date basis, net capital inflows stood at Rs.41221.60 crores ($6818.30 million) as on 16th May 2014. 

From the intra-day perspective, we expect Indian Rupee to trade on a positive note on the back of victory for BJP with a majority in general election results which was declared last week coupled with selling of dollars by exporters and corporate companies. 

However, sharp upside in the currency will be capped or reversal can be seen due to dollar demand from oil importers and central bank.  
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