Thursday, 5 March 2015

Financial Orbit wrap 05/03/15

Five sentences or graphics which sum up the Financial Orbit output over the last 24 hours across the website, twitter account and anything else thought about...

1. The ECB meet in Cyprus...


Thoughts?  Raised growth but still way below trend...0% inflation in 2015 (!)...a definitive Greek deal still miles off. 

The euro weakens and markets up...not sure if this combo can be sustained. 

2. China – National People’s Congress thoughts.  7% annual growth target (15 year low) grabs the headlines BUT so much more e.g. ‘deepen reform of SoE…keep yuan at a reasonable, balanced level’, wider budget deficit 2.3% GDP to help economy, 12% M2 growth suggest money supply boost not coming through.  Certainly not as easy a top-down market...but via continued reforms not impossible either.  It could be worse... 


...China could be Brazil where the currency continues to struggle (now c. BRL3 = US$1)...


...and economic growth is not great:


3. I write on ShareProphets how I believe Rexam is a solid (one-sided) merger arb opportunity...

4. ...meanwhile Aggreko is a buy on weakness despite a mixed set of numbers today: 


5. Hmmm... (via @Not_Jim_Cramer):



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