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Reports

Indian stock market and companies daily report (August 20, 2014, Wednesday)

August 20, 2014, Wednesday
 Indian markets expected to open on flat note tracking SGX Nifty and Asian markets. US markets turned in another strong performance during trading on Tuesday, extending the upward trend seen over the past several sessions. The continued strength on Markets came following the release of two closely watched reports on consumer price inflation and new residential construction.

European stock market, economy and companies update (August 20, 2014)

August 20, 2014, Wednesday
BOE Aug Minutes shows first dissent since July 2011 (Vote was 7-2 to keep rates steady with Weale and Mccafferty dissenting. Japan posted its 25th consecutive month of trade deficit and the shortfall was wider than expected (-¥964.0B vs. -¥713.9Be). FOMC Minutes likely to be mixed bag of dovish and hawkish commentary with focus on any further insight on the exit strategy

Russian stock market daily morning report (August 20, 2014, Wednesday)

August 20, 2014, Wednesday
We expect the domestic market ti proceed with positive dynamics of Tuesday. An upside trend is indicated at the global markets. American exchange grounds showed growth yesterday, despite the mixed stats. Exchange ATP indices did not change much in course of Wednesday trade. European exchange indices grew yesterday basing on the European companies reports and the positive data on the real estate market in the US.

UK stock market morning note (August 20, 2014)

August 20, 2014, Wednesday
 The FTSE 100 is called to open lower this morning after the gains in the previous sessions as investors look ahead to the release of meeting minutes from both the Bank of England MPC and FOMC, the latter at 7.00pm UK time. The economic diary today also sees the publication of the CBI industrial trends survey data. Commodity prices are flat to firmer and on the foreign exchanges, the dollar is higher against the pound, euro and yen but all are within narrow trading ranges ahead of these central bank announcements.

Asian stock market, economy and companies update (August 20, 2014)

August 20, 2014, Wednesday
Japan posted its 25th consecutive month of trade deficit and the shortfall was wider than expected, even though exports rose for the first time in 3 months. Rising imports contributed to continued shortfall -- despite the falling prices, imports of crude oil rose to 16.4M kls from 15.1M kls prior. Exports to Asia, China, and US were all up in low-single digits, while Europe shipments rose 10%. Japanese Yen sold off amid overall USD strength in the afternoon session, with USD/JPY pair hitting fresh 4-month highs above ¥103.15.

Indian stock market daily morning report (August 20, 2014, Wednesday)

August 20, 2014, Wednesday
 Benchmark share indices gained for the sixth straight session, amid firm global cues, to end at fresh record closing highs on the back of agrressive buying by instiutional investors. The 30-share Sensex ended up 30 points at 26,421 after hitting a record intra-day high of 26,531 and the 50-share Nifty ended 23 points higher at 7,89- after touching a fresh high of 7,919. Three PSU OMCs rose 1.99% to 3.28% on BSE on recent downtrend in crude oil prices amid geopolitical tensions.

News

Global Outlook

Lucid Dreaming!

August 19, 2014, Tuesday
Experts in the phenomenon known as lucid dreaming, where sleeping people are aware that they’re in a dream, say dreamers should look for reality checks, or details that look different in dreams than in real life. . . . Some lucid dreamers are able to control elements of their dreams once they realize they’re dreaming. They do what’s impossible or unlikely in real life, like fly or meet famous people. ... Others use the technique to solve problems, spur creativity, overcome nightmares or practice physical skills, says Daniel Eracher, a professor at the University of Bern’s Institute for Sport Science, who has conducted surveys of lucid dreamers. ... [Researchers] found that people with frequent lucid dreams are better at cognitive tasks that involve insight, like problem-solving.

Ukraine's Next Crisis? Economic Disaster

August 19, 2014, Tuesday
Ukraine's next crisis will be a devastatingly economic one, as violent conflict destroys critical infrastructure in the east and brings key industry to a halt, furthering weakening the energy sector by crippling coal-based electricity production. The Ukrainian military's showdown with separatists in the industrial east has forced coal mines to severely cut production or close down entirely.

Weak Demand from China and India Makes Sustained Gold Rally Difficult

August 18, 2014, Monday
No good news for gold prices out of India or China. Gold demand in India, the second largest consumer after China, could fall by as much s 13% in 2014 as a 10% duty on imports restricts demand, according to the World Gold Council. Consumption could fall by as much as 13% in 2014 to 850 metric tons from 975 metric tons in 2013. Official imports fell 43% in the first half of 2014 from the first half of 2013.

How Stiff Is Resistance?

August 15, 2014, Friday
On July 31st, stocks broke below the 50-day moving average in violent fashion. Since then, we have swung as low as 1905. From that darkest hour, stocks have bounced solidly and are right back to testing this key technical level. Thursday's action showed there was some resistance taking place as stocks rose, but came up short of the mark.

Recommendations

Dishman Pharmaceuticals and Chemicals 1QFY2015 performance highlights and results update

August 18, 2014, Monday
For 1QFY2015, Dishman Pharmaceuticals and Chemicals (Dishman) announced better-than-expected numbers on the sales front, but lower-than-expected OPM and net profit. The company posted a revenue of Rs.362cr (V/s an expected Rs.332cr), up 18.1% yoy. The OPM came in at 20.5% (V/s an expected 23.0%), a yoy dip of 730bp. The dip in the margin is on account of the 431bp dip in the gross margin and a 21.3% and 32.8% yoy growth in staff and other expenditure, respectively.

Cipla 1QFY2015 performance highlights and results update

August 18, 2014, Monday
Cipla’s 1QFY2015 results came in below our expectations. For the quarter, the company posted consolidated sales of Rs.2,647cr V/s an expected Rs.2,720cr and V/s Rs.2,331cr in 1QFY2014 (a yoy growth of 13.6%). On the operating front, the EBDITA margin came in at 17.7% V/s an expected 24.5% and V/s 23% during the corresponding period of last year.