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20:31 Update

RANSQUAWK AUDIO CLOSED FOR THE WEEK; THE DESK WILL REOPEN SUNDAY 2200BST (LONDON TIME)

20:24 Update

RANsquawk - Today's Trading Edge

TIME: 19:08BST
NEWS: Amarin (AMRN) Vascepa NCE status is not in FDA Orange Book for April
REACTION: In reaction co. shares moved lower by 1.63%

TIME: 18:11BST
NEWS: Market talk that Actavis (ACT) and Warner Chilcot (WCRX) cancelled from UBS conference next week - Unconfirmed
REACTION: In immediate reaction co. shares moved 1.10% higher from USD 19.02 to USD 19.23

TIME: 16:06BST
NEWS: Positive article for Acura Pharmaceuticals (ACUR) on Seeking Alpha saying that the Co. is grossly undervalued
REACTION: In an immediate reaction, Co. shares moved 4.13% higher from USD 2.29 to USD 2.38

TIME: 1519BST
NEWS: Market talk of IBM (IBM) considering buying Fusion-IO (FIO) - Unconfirmed
REACTION: In reaction co. share moved 1.70% higher from USD 14.53 to USD 14.78

TIME: 1501BST
NEWS: ENRC Group (ENRC LN) said likely to seek longer deadline for formal offer; bidding group said to propose offer below GBP 3.00 per share
REACTION: In immediate reaction co. shares moved lower by 7.63% from GBP 2.99 to GBP 2.76

TIME: 1305BST
NEWS: : Kazakhmys (KAZ LN) chairman Heale says government showed interest to buy Kazakhmys out of Ekibastuz
REACTION: In immediate reaction co. shares traded higher by 2.14% from GBP 3.55 to GBP 3.63

TIME: 1241BST
NEWS: Kazakhmys (KAZ LN) chairman reiterates there is no definite bid for ENRC (ENRC LN)
REACTION: In a delayed reaction ENRC shares moved higher by 1.09% from GBP 3.04 to GBP 3.07

20:09 US Equities

As a reminder, Regular NASDAQ/S&P500 May options expiry (2115BST/1515CDT)

20:02 US Equities

US EQUITY WRAP

Despite a quiet session with light news flow US equities rebounded from yesterday’s losses to again print record highs. This was in part driven by positive macro economic data from the University of Michigan. The best performing sector was oil and gas which was supported by Tesoro who gained 6% after news that they had bought a refinery from BP. All sectors fared well in today’s session and the all three major indices finished in positive territory. Finally, the DJIA finished up 0.8% at 15354.79, the S&P 500 finished up 0.99% at 1666.78 and the NASDAQ 100 finished up 0.99% at 3028.96.

20:01 Economic commentary

US Treasury Secretary Lew says sees US economic growth exceeding 3% next year

19:56 US Equities

Moody's says Northrop Grumman's (NOC) target share repurchases should be accommodated in current ratings

19:51 US Equities

NYSE closing imbalance - 22/30 to buy in the DJIA

19:51 US Equities

NYSE closing imbalance - USD 1.0bln to the buyside

19:43 FX Flows

Mexican finance minister Videgaray says Peso appreciation will have a stronger effect in Q2

19:36 Commodities

CFTC says Comex gold speculators cut net long position by 10,043 contracts to 39,260 in week to May 14th

- Comex silver speculators cut net long position by 3,710 contracts to 1,413 in week to May 14th.
- Comex copper speculators trim net short position by 3,682 contracts to 13,115 in week to May 14th.

19:32 FX Flows

CFTC says the net EUR short position increases by 41% to USD 7.6bln

- CFTC says the net JPY short position increases by 3.8% to USD 10.8bln
- CFTC says investors turn net AUD short for first time since June 2012.
- CFTC says the net USD long position increases by 23% to USD 30.4bln

19:30 US Equities

BGR writes: "Apple’s (AAPL) ‘iRadio’ hits another roadblock, WWDC launch might be delayed"

19:25 US Equities

DirectV (DTV) considering acquisition of online video site Hulu according to sources

19:24 US Equities

Credit Suisse (CS) CEO Dougan says dividend increase depends on progress 'but that is our hope@

19:16 US Equities

Credit Suisse (CSGN VX) CEO dougan says still room for cash into equities

19:16 Fixed Income

US FIXED INCOME WRAP

US T-notes trended lower throughout the day as stronger than expected data out of the US weighed on core fixed income. Firstly, University of Michigan confidence came in at 83.7 vs. Exp. 77.9, T-notes pared the move higher seen yesterday after the weak data seen, including worse than expected weekly jobs data and housing starts and building permits. Today’s POMO was relatively large with the Fed injecting almost USD 5.5bln although this has not supported prices. At the pit close T-notes settled down 19+ ticks at 131.27+.

19:15 Economic commentary

California revenue USD 3.2bln above Brown estimate according to an legislative analyst report

19:11 DAX

The DAX future spiked 80 ticks printing all time highs at 8477.50 after tripping stops through 8400; it has now retraced some of the move and trades 8447 last

19:06 US Equities

Dexia's MBS suit against JP Morgan (JPM) revived by judge

19:03 Geopolitical

Defense Secretary Hagel says Syria disintegrating could spark a Middle Eastern war

19:03 US Equities

Yahoo (YHOO) to hold product-related event in NYC on Monday according to CNBC

- CEO Marissa Mayer to speak at event.

18:59 Market Analysis

With S&P pushing higher in recent trade, Dax future tripped stops to the upside moving 30 ticks higher to print a high at 8429

18:55 Other Data

Argentina Activity Index NSA (Mar) Y/Y 2.6% vs. Exp. 2.7% (Prev. 2.3%)

Argentina Activity Index SA (Mar) M/M 0.7% (Prev. 0.3%)

18:49 Economic commentary

Deputy governor of the South African reserve bank says South Africa's 2013 outlook not much better than 2012

18:44 US Equities

Negative piece out for Solarcity (SCTY)