US MARKETS:

S&P 500 futures down 0.3% to 3,037.75

Brent futures down 0.1% to $60.55/bbl

Gold spot up 0.7% to $1,505.41

US Dollar Index down 0.4% to 97.27

 

GLOBAL NEWS:

Earnings season. Royal Dutch Shell, Sanofi, American Tower, Bristol-Myers Squibb, Altria, Celgene, Estée Lauder, Safran, BNP Paribas and Lloyds Banking Group are among companies reporting earnings today.

Apple rises. Shares in the Californian group were up after publishing strong results that topped analysts’ estimates and forecasting a return to growth for the holiday period. The only low for Apple is that iPhone revenue dipped compared to last year.  

Facebook also shines. Facebook posted better-than-expected sales, while EPS also topped consensus.

And Samsung… Samsung Electronics’ net income topped expectations thanks to strong demand for its smartphones and displays, reaching $5.2 billion.

"PFC" on track. Peugeot and Fiat Chrysler confirmed a proposed merger to create a group 50/50 owned by the shareholders of both companies, which would be the 4th largest player in the world. The parent company would be located in the Netherlands (here, here). The teams have been mandated to produce a memorandum of understanding in the coming weeks.  The project provides for the payment of an exceptional coupon to Transalpin shareholders (€5.5 billion plus Comau shares) and the distribution of Faurecia shares to French shareholders. Carlos Tavares would take over operational control. Peugeot dropped out heavily while FCA climbed 10%.

Reverse engine. According to information from the Financial Times, China is abandoning its plans to merge Sinochem and Chemchina. Apparently, the managers of the two companies had difficulty reaching an agreement.

In other news. Bombardier is reportedly negotiating the sale of plants to Spirit Aerosystems for about $1 billion, Reuters reported. Unlike Facebook, Twitter will totally ban political advertising. Boeing has immobilized about 50 aircraft worldwide, according to AFP, after structural cracks were discovered on B737NGs, the MAX's predecessor.