European markets advanced while the US and most Asian markets were closed.
United States
US markets were closed Monday for the long New Year’s weekend.
Europe
European markets advanced in the first trading session of the new year. The markets overcame early weakness and finished the day in positive territory. Trading activity was on the light side, with markets in the UK, Switzerland and the US closed for the long New Year’s Day holiday. The CAC was up 0.4 percent, the DAX added 1.0 percent and the MIB jumped 1.7 percent.
Economic data was on the light side. December manufacturing PMI reading for the Eurozone was the highest since April 2011. The December reading rose to 54.9 from 53.7 in November.
Wirecard advanced after it announced that Star Global Currency Exchange Private Limited, a group company, got an upgrade of its license issued by Reserve Bank of India to be an authorized dealer in foreign exchange (category II). Both Commerzbank and Deutsche Bank were higher. Utility RWE and E.ON also climbed. In Paris, insurer AXA gained after announcing that it had completed the sale of Bluefin Insurance Group, its P&C commercial broker in the UK, to Marsh. Sanofi was higher after the pharmaceutical firm and its vaccines global business unit Sanofi Pasteur confirmed the end of their vaccine joint-venture with MSD (Merck in the United States and Canada).
Asia Pacific
Most markets were closed Monday with the exception of those in India and South Korea. The Sensex declined 0.1 percent after the December manufacturing PMI contracted amid a cash crunch following the demonetization move. The manufacturing PMI dropped to 49.6 from 52.3 in November. The Kospi was virtually unchanged on the day (down 0.30 point).
Looking Forward

The following indicators will be released this week…

Central Bank activities

Jan 4

United States

FOMC Minutes Published

Europe

Jan 3

Germany

Unemployment (December)

UK

Manufacturing PMI (December)

Jan 4

Eurozone

Composite & Services PMI (December)

Germany

Composite & Services PMI (December)

France

Composite & Services PMI (December)

Italy

Composite & Services PMI (December)

Spain

Composite & Services PMI (December)

Jan 5

UK

Services PMI (December)

Jan 6

Eurozone

Retail Sales (November)

Germany

Manufacturing Orders (November)

Asia Pacific

Jan 4

Japan

Manufacturing PMI (December)

Jan 5

Japan

Composite & Services PMI (December)

Jan 6

Australia

Merchandise Trade Balance (November)

Americas

Jan 3

United States

Manufacturing PMI (December)

ISM Manufacturing Survey (December)

Construction Spending (November)

Jan 5

Canada

Industrial Product Price Index (December)

United States

ADP Private Employment (December)

Initial Unemployment Claims (week ending prior Saturday)

ISM Nonmanufacturing Survey (December)

Services PMI (December)

Jan 6

Canada

Labour Force Survey (December)

International Trade (November)

United States

Employment Situation Report (December)

International Trade (November)

Factory Orders (November

Global Stock Markets

*Note — all releases are listed in local time.

Source: Fidelity

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