Good morning! Here are 10 things you need to know in markets today.
Eurozone consumer confidence is coming. Confidence figures are out at 3 p.m. London time (10 a.m. New York time). In March, confidence rose to -3.7, the highest since July 2007, and analysts expect it to rise to more like -2.75 today.
A UK-based high frequency trader was charged with contributing to a 2010 market crash. Charges against Navinder Singh Sarao for helping to spark the 2010 “flash crash” present a test of US prosecutors’ ability to win a big market manipulation case and may make other traders nervous they may be next.
Yahoo revenues dipped. Yahoo’s first-quarter revenue fell 4% as the internet company struggles to rev up its core online advertising business. Net income attributable to Yahoo fell to $US21.2 million (£14.9 billion), or 2 cents per share, for the quarter ended March 31, from $US311.6 million, or 29 cents per share, a year earlier. Revenue, excluding fees paid to partner websites, fell to $US1.04 billion from $US1.087 billion.
And it looks like Yahoo may be selling its Japanese operation. Yahoo has retained advisers to explore options for its Yahoo Japan stake, and the news appears to have lifted investors’ spirits after the company delivered an underwhelming Q1 earnings report.
Shinzo Abe’s foreign and military policy see a bigger role for Japan in the South China Sea. Prime Minister Shinzo Abe’s plans to expand Japan’s non-combat role in armed conflicts beyond “areas around Japan” could see Tokyo becoming dragged into action in the South China Sea in support of US forces, government and ruling party sources say.
Chinese President Xi Jinping is talking up a $US46 billion (£30.76 billion) investment in Pakistan. Xi Jinping Tuesday hailed a $US46 billion economic corridor as a “historic development opportunity” for Pakistan, but security fears linger over the project which involves major construction in highly unstable areas.
The UK’s Conservative party is one point ahead of Labour in the latest YouGov poll. British Prime Minister David Cameron’s Conservatives have taken a one point lead over the opposition Labour Party in a YouGov poll ahead of a May 7 election, The Sun newspaper reported on Tuesday.
Japan just recorded a trade surplus for the first time since 2012. Japan posted its first trade surplus in nearly three years in March as import bills fell owing to tumbling oil prices while the value of exports to North America soared, data showed on Wednesday. Japan’s overall exports rose 8.5% while imports fell 14.5%.
Saudi Arabia has ended its bombing campaign in Yemen. A Saudi-led coalition declared an end Tuesday to its military campaign nearly a month after launching air strikes against rebels in Yemen, saying their threat to Saudi Arabia and its neighbours had been removed.
Asian markets are up. Hong Kong’s Hang Seng is currently up 0.22%, followed by the Shanghai Composite, which is up 1.75%, with Japan’s Nikkei also up 0.93%.