Morning MoneyBeat Europe: Asia Leads Way Higher as Markets Chew Over Fed Minutes

        By David Cottle
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        Good Morning Europe
        Local stock markets are expected to be on good terms with themselves as Thursday's trade gets under way.
        The minutes of the Federal Reserve's last policy gathering didn't tell us much we didn't already know, but, markets seem to think, the disappointing labor numbers we've seen since will be enough to give the more hawkish members of the Open Markets Committee pause and make early rate hikes unlikely.
        Asian bourses have set the pace, though, led higher by a rampant Hang Seng. The advent of a new Hong Kong/Shanghai trading link is thought to be behind some of its bullishness, as is the perception that Hong Kong stocks have lagged mainland peers and now represent better value.
        Closer to home Greece looks set to meet its immediate need to repay the International Monetary Fund but a credible, longer-term plan its European creditors can live with remains elusive.
        Market Snapshot: U.S. markets (Wednesday close) DJIA up 0.2%, Nasdaq up 0.8%, S&P 500 up 0.3%. Nikkei now up 0.7%. Brent crude up 56 cents at $57.25. Gold down $6.30 at $1196.80. EUR/USD at $1.0771, USD/JPY at Yen120.23. 10 year Treasury yield 1.91%, Bund 0.16%, Gilt 1.61%.
        Watch For: The now-comforting formality of a U.K. monetary policy decision (steady as she goes, natch), and U.S. weekly jobless claims numbers.
        What You May Have Missed on MoneyBeat:
        Shell's Deal for BG Is Huge, But Adviser Team Is Small : The first few months of the year have seen a flurry of megadeals, and Shell Oil's deal for BG Group PLC is biggest so far. But while the deals have been getting bigger, advisory teams have been getting smaller.
        French Government's Stop Sign for Renault Investors : The French government's attempt to retain double voting rights at Renault could weaken the company's long-term investment case.
        Analysts React to Shell's Big BG Group Deal: 'Will Others Follow?' : Royal Dutch Shell, the Anglo--Dutch oil giant, has agreed to buy oil and gas exploration firm BG Group for just under $70 billion. Here is what analysts and experts are saying about the transaction.
        The Oil Mega-Merger is Back -- Energy Journal : Petroleum giant Royal Dutch Shell PLC has agreed to buy the U.K.'s BG Group PLC for GBP47 billion ($69.6 billion) in a deal that would serve as the latest sign of how tumbling energy prices are shaking up the global oil-and-gas industry.
        Freedom Day Arrives for Europe's Biggest Pensions Market : It's the moment Lamborghini dealers across the U.K. have been waiting for. British pensioners were told last year that they would soon be allowed to take all the cash out of their pension pots without incurring huge tax penalties and Tuesday was the first working day these freedoms took effect.
        From The Wall Street Journal:
        Rising Optimism Fuels Deal Rebound : At the current pace, M&A volume for the full year would exceed $3.7 trillion, making it the second-biggest year in history.
        A Pair of Milestones for Euro Debt : Switzerland on Wednesday sold 10-year bonds that investors are actually paying to hold, while Mexico lined up a rare transaction to borrow euros it promised to repay a century from now.
        Fed Divided on June Rate Move : Federal Reserve officials were divided at their March policy meeting on whether they might raise interest rates in June, and recent soft economic data could make a midyear move even less likely.
        Hong Kong Stocks Rally Sharply : Hong Kong's stock market rose for a sixth session, taking gains this week to over 6% as investors snapped up Chinese shares.
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        Access Investor Kit for Royal Dutch Shell PLC
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        (END) Dow Jones Newswires

        April 09, 2015 01:34 ET (05:34 GMT)

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