News Headline Summary

RANsquawk - Today's trading edge

TIME:1900GMT
NEWS: Dow Chemical (DOW) to sell units generating USD 1bln sales next year
REACTION: In the 2 mins following the news shares moved 0.70% to the downside.

TIME:1832GMT
NEWS: Federal Signal (FSS) raised to buy vs. hold at KeyBanc
REACTION: In reaction to this broker move co. shares popped 3.3% to the upside to print a session high.

TIME: 1600GMT
NEWS: Sun Hydraulics (SNHY) board OKs year-end special dividend of USD 1.00 per share
REACTION: SNHY shares immediately moved 1.7% higher.

TIME: 1500GMT
NEWS: General Motors (GM) US Vehicle sales up 3.4% vs. Exp. up 7.6%
REACTION: GM shares dropped 2.4% following this headline.

TIME:1242GMT
NEWS: Market talk that a major Swiss bank could begin to charge negative interest on CHF accounts – Unconfirmed
The news was confirmed at 1308GMT: Credit Suisse (CSGN VX) sets negative rates on short-term deposits, negative rates to apply from Dec-10th
REACTION: EUR/CHF popped to fresh highs with a move to the upside of 33 pips, with CHF weakness across the board.

TIME: 1249GMT
NEWS: Spain makes formal request for EU bank bailout funds, expects funds for bank recapitalization around Dec-12th
REACTION: Despite this being a formality and expected from Spain, the initial knee jerk reaction seen in several asset classes can be attributed to a mis-interpretation with some seeing this as a formal request for aid for the sovereign as opposed to just the banking system. In an immediate reaction: Dec-Dax spiked higher from 7467 to 7489, Dec-Bunds fell from 142.40 to 142.07, EUR/USD spiked higher from 1.3053 to 1.3075.

TIME: 1133GMT
NEWS: BRL has strengthened after the Brazilian Central Bank calls a swap auction to sell 40,000 contracts due January 2nd
REACTION: USD/BRL moved 212 pips lower in immediate reaction.

TIME:0931GMT
NEWS: Ukrainian President dismisses Cabinet
REACTION: USD/UAH immediately moved 569 pips to session highs.

TIME:0901GMT
NEWS: AkzoNobel (AKZA NA) CEO to return on Dec-7th following a full recovery
REACTION: Shares increased 3.22% in reaction to the news from EUR 43.81 to EUR 45.22.

03 Dec 2012 - 21:27 - Fixed Income Rumour - Source: RANsquawk

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