Breaking news
SOURCE: MF - DJ NEWS
22:5518-12-2018
G7 Political, Economic Calendar - Week Ahead
20:0318-12-2018
Italy Reached Budget Agreement With European Union: Reports -- MarketWatch
18:0518-12-2018
Milan Most Actives
19:1118-12-2018
Europe Tackles Chinese Competition With Multibillion Investment in Microelectronics -- Update
10:0018-12-2018
Leonardo, Siemens Win Rome Airport Baggage-Handling Contract
08:3218-12-2018
League Takes Another Shot at Indoor Lacrosse -- WSJ
07:1618-12-2018
Italy Calendar of Corporate Events - Month Ahead
15:3018-12-2018
Europe Tackles Chinese Competition With Multibillion Investment in Microelectronics -- Update
09:0118-12-2018
Italy's FTSE MIB Falls 0.7% in Opening Trade
22:5518-12-2018
G7 Political, Economic Calendar - Week Ahead -2-
22:5518-12-2018
G7 Political, Economic Calendar - Week Ahead
07:5518-12-2018
G7 Political, Economic Calendar - Week Ahead -3-
22:5518-12-2018
G7 Political, Economic Calendar - Week Ahead -2-
14:3718-12-2018
Europe Tackles Chinese Competition With Multibillion Investment in Microelectronics
10:5018-12-2018
Tod's Target Cut to EUR44 From EUR56 by Bryan Garnier
22:5518-12-2018
G7 Political, Economic Calendar - Week Ahead -3-
07:5518-12-2018
G7 Political, Economic Calendar - Week Ahead -2-
20:0418-12-2018
Update: Italy Reaches Budget Agreement With European Union: Reports -- MarketWatch
22:5518-12-2018
G7 Political, Economic Calendar - Week Ahead
All dates are in Eastern Time. 
 
Tuesday, December 18, 2018                                     Exp        Prev 
 ET 
1850  JPN  Nov      Provisional Trade Statistics for the Month 
                       Trade Balance (JPY)                     -589.8B    -449.3B 
                       Exports, Y/Y%                                      +8.2% 
                       Imports, Y/Y%                                      +19.9% 
                       Exports To Asia, Y/Y%                              +7.3% 
                       Exports To China, Y/Y%                             +9.0% 
                       Exports To US, Y/Y%                                +11.6% 
                       Exports To Europe, Y/Y%                            +7.7% 
1901  UK   Dec      REC JobsOutlook survey 
1901  UK   Nov      Hometrack UK Cities House Price Index 
N/A   UK            MPs debate bill to reverse Brexit unless Parliament approves 
                    and new referendum held 
N/A   FRA           Final data on 2017 aid flows from OECD donor countries launch 
N/A   UK            CBI / Pertemps Network Group Employment Trends Survey 
N/A   US            U.S. Federal Open Market Committee meeting 
 
Wednesday, December 19, 2018                                   Exp        Prev 
 ET 
0200  GER  Nov      PPI 
0355  UK            House of Commons General Committees 
0415  UK            'The progress of the UK's negotiations on EU withdrawal' 
                    evidence session 
0430  UK   Dec      Forecasts for the UK economy statistical release 
0430  UK            Westminster Hall debates 
0430  UK   Oct      UK House Price Index 
0430  UK   Nov      UK monthly inflation figures 
                       CPI, M/M%                               +0.2%      +0.1% 
                       CPI, Y/Y%                               +2.3%      +2.4% 
                       Core CPI, M/M%                                     +0.0% 
                       Core CPI, Y/Y%                          +1.85%     +1.9% 
                       Retail Price Idx, M/M%                  +0.2%      +0.1% 
                       Retail Price Idx, Y/Y%                  +3.3%      +3.3% 
0430  UK   Nov      UK producer prices 
                       Core Output PPI, M/M%                              +0.3% 
                       Core Output PPI, Y/Y%                              +2.4% 
                       Input PPI, M/M%                         -2.7%      +0.8% 
                       Input PPI, Y/Y%                         +5.4%      +10.0% 
                       Output PPI, M/M%                        +0.0%      +0.3% 
                       Output PPI, Y/Y%                        +3.0%      +3.3% 
0430  UK   Q3       Scottish GDP: First Estimate 
0500  EU   Oct      Construction output 
0500  UK            Financial Conduct Authority publishes policy statements 
0600  UK   Dec      CBI Monthly Industrial Trends Survey 
0700  US   12/15    MBA Weekly Mortgage Applications Survey 
                       Composite Idx                                      346 
                       Composite Idx, W/W%                                +1.6% 
                       Purchase Idx-SA                                    256.1 
                       Purchase Idx-SA, W/W%                              +2.5% 
                       Refinance Idx                                      851.6 
                       Refinance Idx, W/W%                                +1.8% 
0830  CAN  Nov      CPI 
                       CPI-Common, Y/Y%                                   +1.9% 
                       CPI-Median, Y/Y%                                   +2.0% 
                       CPI-Trim, Y/Y%                                     +2.1% 
                       All Items CPI, Y/Y%                                +2.4% 
                       All Items CPI, M/M%                                +0.3% 
0830  US   Q3       International Transactions 
                       Current Account (USD)                   -126.2B    -101.46B 
0900  US            SEC Open Meeting 
1000  UK            House of Lords sitting 
1000  US   Nov      Existing Home Sales 
                       Existing Sales                          5.17M      5.22M 
                       Existing Sales, M/M%                    -1.0%      +1.4% 
                       Unsold Homes Month's Supply                        4.3 
                       Median Price (USD)                                 255400 
                       Median Home Price, Y/Y%                            +3.8% 
1030  US   12/15    EIA Weekly Petroleum Status Report 
                       Crude Oil Stocks (Bbl)                             441.954M 
                       Crude Oil Stocks, Net Chg (Bbl)         -3.1M      -1.208M 
                       Gasoline Stocks (Bbl)                              228.337M 
                       Gasoline Stocks, Net Chg (Bbl)          +1.0M      +2.087M 
                       Distillate Stocks (Bbl)                            124.137M 
                       Distillate Stocks, Net Chg (Bbl)        +0.3M      -1.475M 
                       Refinery Usage                          95.4%      95.1% 
                       Total Prod Supplied (Bbl/day)                      21.481M 
                       Total Prod Supplied, Net Chg (Bbl/day)             +0.951M 
1400  US            U.S. interest rate decision, followed by Jerome Powell press 
                    briefing 
                       Federal Funds Rate 
                       Federal Funds Rate Change (Pts) 
                       Fed Funds Rate-Range High                          2.25 
                       Fed Funds Rate-Range Low                           2.00 
                       FOMC Vote For Action                               9 
                       FOMC Vote Against Action                           0 
                       Discount Rate                                      2.75 
                       Discount Rate Change (Pts)                         +0.00 
                       Discount Rate-Range High 
                       Discount Rate-Range Low 
1400  US            Federal Reserve economic projections 
                       Median Fed Funds Rate - 2018                       2.4% 
                       Median Fed Funds Rate - 2019                       3.1% 
                       Median Fed Funds Rate - 2020                       3.4% 
                       Median Fed Funds Rate - 2021                       3.4% 
1800  UK            100 days until Brexit 
2330  JPN  Oct      All Industry Index 
N/A   UK            CMA deadline for views on Experian / ClearScore provisional 
                    findings 
N/A   JPN           Bank of Japan Monetary Policy Meeting 
N/A   EU            Brussels publishes information on no-deal Brexit preparations 
N/A   UK            Immigration white paper expected 
N/A   UK            'Majority of business leaders believe the government is not 
                    negotiating the best Brexit deal for business', says BDO 
N/A   UK            Business groups call on politicians to avoid 'disorderly 
                    no-deal Brexit' 
N/A   FRA           OECD Safe Pathways for Refugees report launch 
N/A   UK            'Fisheries Bill' inquiry deadline 
N/A   UK            'Financial sustainability of health and social care a serious 
                    and ongoing concern' say MPs 
N/A   US            Financial Stability Oversight Council latest meeting 
 
Thursday, December 20, 2018                                    Exp        Prev 
 ET 
0100  JPN  Nov      Revised Machine Tool Orders 
0200  JPN  Nov      Convenience Store Sales 
0400  EU   Oct      Euro area balance of payments 
0400  ITA  Nov      PPI 
0430  UK   Nov      UK monthly retail sales figures 
                       Retail Sales, M/M%                      +0.5%      -0.5% 
                       Retail Sales, Y/Y%                      +2.1%      +2.2% 
0430  UK   Nov      Capital issuance 
0430  UK            Liam Fox takes International Trade questions from MPs 
0430  UK            House of Commons sitting 
0500  ITA  Oct      Balance of Payments 
                       Current Account (EUR)                              3.154B 
0600  UK            House of Lords sitting 
0600  UK   Nov      Aluminium Production report 
0600  UK   Dec      CBI Monthly Distributive Trades Survey 
0630  UK            House of Commons General Committees 
0700  UK            UK interest rate decision 
                       Bank Rate                               0.75       0.75 
                       Bank Rate-Range High 
                       Bank Rate-Range Low 
0700  UK            Agents' Summary of Business Conditions 
0700  UK            Bank of England MPC meeting minutes 
                       Votes Against Rate Decision             0          0 
                       Votes For Rate Decision                 9          9 
0830  US            U.S. Weekly Export Sales 
                       Corn (Metric Tons)                                 1064.6K 
                       Soybeans (Metric Tons)                             795.3K 
                       Wheat (Metric Tons)                                754.1K 
0830  US   Dec      Philadelphia Fed Business Outlook Survey 
                       Business Activity                       15.0       12.9 
                       Prices Paid                                        39.3 
                       Employment                                         16.3 
                       New Orders                                         9.1 
                       Prices Received                                    21.9 
                       Delivery Times                                     5.0 
                       Inventories                                        9.5 
                       Shipments                                          21.6 
0830  CAN  Oct      Wholesale trade 
                       Wholesale Inventories, M/M%                        +0.6% 
                       Wholesale Trade, M/M%                              -0.5% 

(MORE TO FOLLOW) Dow Jones Newswires

December 18, 2018 16:55 ET (21:55 GMT)

20:0318-12-2018
Italy Reached Budget Agreement With European Union: Reports -- MarketWatch

Italy's government has reached an accord with the European Union regarding its controversial budget proposal for 2019, which may avert a clash with officials of Europe's trade bloc, according to reports. Rome's draft budget proposal earlier this year drew a swift rebuke from Brussels because it would have resulted in a budget deficit of 2.4% of gross domestic product, running afoul of EU membership rules. This led to the EU launching a so-called "excessive deficit procedure" against Italy in November, and caused investors to fret about the health of the eurozone's third-largest economy and the stability of the EU more broadly.

-Anneken Tappe

 For more from MarketWatch: http://www.marketwatch.com/newsviewer 

(END) Dow Jones Newswires

December 18, 2018 14:03 ET (19:03 GMT)

18:0518-12-2018
Milan Most Actives
 
                                     Volume        Close       Change     % Change 
 
  Banca Carige                  796,780,096        0.001        0.000       -13.33 
  Telecom Italia                102,924,041        0.549       -0.010        -1.72 
  Intesa Sanpaolo                95,631,383        1.985       +0.012        +0.61 
  Enel                           40,944,651        5.012       -0.002        -0.04 
  Tiscali                        25,711,151        0.015        0.000        -2.67 
  Saipem                         19,780,909        3.289       +0.009        +0.27 
  Banco BPM                      19,534,528        1.990       -0.015        -0.75 
  Snam SpA                       15,109,106        4.000       -0.015        -0.37 
  ENI                            14,898,615       13.814       -0.146        -1.05 
  Telecom Italia RNC             14,219,424        0.470       -0.008        -1.57 
  UniCredit                      11,905,889       10.468       -0.080        -0.76 
  TERNA                           9,544,815        5.106       -0.042        -0.82 
  Fincantieri                     9,277,067        0.928       -0.004        -0.43 
  Fiat Chrysler Automobiles       7,064,707       13.758       -0.012        -0.09 
  A2A SpA                         7,061,591        1.590       -0.011        -0.66 
  Unione di Banche Italiane       6,289,950        2.517       -0.003        -0.12 
  Beni Stabili                    6,253,104        0.687       -0.018        -2.55 
  OVS                             6,247,142        0.844       +0.002        +0.24 
  Mediaset                        5,899,305        2.616       +0.024        +0.93 
  Tenaris                         5,558,381        9.644       -0.224        -2.27 
  Mediobanca                      4,939,114        7.570       +0.066        +0.88 
  STMicroelectronics              4,339,992       12.115       +0.005        +0.04 
  Assicurazioni Generali          4,297,319       14.345       +0.030        +0.21 
  Visibilia Editore               3,736,600        0.022       -0.002       -10.00 
  Mondo TV France                 3,575,000        0.031       +0.002        +8.45 
  Saras                           3,568,291        1.687       -0.002        -0.12 
  Salini Impregilo                3,318,339        1.250       -0.020        -1.57 
  Italgas                         3,139,338        5.108       -0.028        -0.55 
  Azimut Holding                  2,759,770       10.085       -0.670        -6.23 
  Poste Italiane                  2,734,701        6.886       -0.010        -0.15 
  Iren SpA                        2,571,288        2.000       -0.006        -0.30 
  UnipolSAI Assicurazioni         2,509,975        1.939       +0.002        +0.10 
  Leonardo                        2,303,762        8.142       +0.122        +1.52 
  Pirelli                         2,277,365        5.668       -0.058        -1.01 
  Hera                            2,203,736        2.668       +0.038        +1.44 
  Davide Campari-Milano           2,194,665        7.445       -0.135        -1.78 
  Juventus Football Club          2,189,318        1.118       -0.019        -1.67 
  BPER Banca                      2,098,730        3.346       -0.016        -0.48 
  CNH Industrial                  1,941,411        8.198       -0.114        -1.37 
  Prysmian                        1,820,981       16.825       +0.275        +1.66 
  Banca Mediolanum                1,757,034        5.150       +0.065        +1.28 
  Astaldi                         1,724,126        0.470       -0.033        -6.56 
  Moncler S.p.A.                  1,620,255       27.600       +0.580        +2.15 
  Unipol Gruppo                   1,494,865        3.419       -0.019        -0.55 
  Retelit                         1,256,117        1.350       -0.070        -4.93 
  Anima Holding                   1,225,150        3.248       -0.074        -2.23 
  FinecoBank                      1,205,149        8.926       -0.058        -0.65 
  RCS MediaGroup                  1,125,375        1.164       -0.072        -5.83 
  Atlantia                        1,052,097       18.000       +0.015        +0.08 
  Risanamento                     1,020,983        0.018        0.000        -1.09 
 
Prices in Euros 
Source: SIX Financial Information 
 

(END) Dow Jones Newswires

December 18, 2018 12:05 ET (17:05 GMT)

19:1118-12-2018
Europe Tackles Chinese Competition With Multibillion Investment in Microelectronics -- Update
By Valentina Pop 

BRUSSELS -- The European Union added ammunition to its battle against Chinese domination of technology industries by approving plans from France, Germany, Italy and the U.K. to fund a multibillion research project in microelectronics.

Tuesday's assent from the EU's antitrust watchdog will allow the four countries to allocate up to EUR8 billion ($9.1 billion) in public and private funding by 2024 for research centers and companies to jointly work on smarter and more energy-efficient microchips and sensors.

The move comes as the EU its and member states are tightening rules on foreign investments -- aimed at limiting Chinese purchases of strategic technologies -- and restricting business activities of Chinese technology companies such as telecommunications giant Huawei.

Many Europeans have blamed China for allegedly mixing state-backed capitalism and policies aimed at expropriating intellectual property for Europe's decline globally in high-tech industries such as solar-panels, wind-power, electric bikes and high-speed rail. China's government denies such moves.

"This can help Europe leap in innovation to benefit its economy and citizens," said competition commissioner Margrethe Vestager, announcing the approval.

She said it was the first since 2014, when the bloc's strict state aid rules were relaxed to allow for cross-border, private-public funding of "important projects of common European interest" that the market considers too risky to fund. Ms. Vestager said that competition distortions still have to be kept at bay, that the investment must generate benefits for the public and that companies that are funded need to share their gained knowledge across the bloc.

The bloc wants to promote Europe's ability to take on Chinese competitors, gain more transparency on how China uses subsidies to promote its companies abroad.

"The decision is an important signal that the European Commission is strengthening Europe as a digital and high-tech location and that Europe will not let itself be pushed off the pitch in strategically important future industries," said a senior EU diplomat. "For the EU, this is also about compensating unfair competitive advantages of Chinese suppliers who can rely on almost unlimited financial support from Beijing in the system of the Chinese state capitalism."

The European Commission, the EU's executive arm, earlier this year drew the ire of French and German officials after it raised antitrust objections to the planned merger of two railway giants -- Germany's Siemens and France's Alstom -- a project actively promoted by French President Emmanuel Macron to compete against China's rail behemoths.

German Chancellor Angela Merkel in June said publicly that EU competition law "does not help us sufficiently" to create global champions.

Ms. Vestager dismissed that claim and said EU competition law in recent years allowed the creation of global giants in industries such as cement, beer and dairy. "This is all to show that you can have both amazing companies that have a European home and a European market that benefits from competition," she said.

On the Siemens- Alstom merger, she said companies have submitted concessions, but that it was still up to the marketplace to respond before the commission will give its final say on the merger.

German electronics makers Robert Bosch and Infineon are included in the project approved Tuesday, according to the commission. Other companies include Franco-Italian microchip maker STMicroelectronics and U.K.'s microchip maker IQE.

Germany in recent years has become wary of Chinese purchases of European high-tech companies, after a Chinese company bought a strategically important robotics company, Kuka, in 2016.

Largely in response to that acquisition, which took German authorities by surprise, Berlin has pushed for an investment screening system at European level whereby countries need to notify each other whenever companies from outside the bloc purchase strategic infrastructure or technologies. A political agreement on that investment screening notification system was reached last month, and should enter into force next year.

A recent scandal surrounding Chinese smartphone maker Huawei, which the U.S. has urged allies -- including Germany and Italy -- to avoid using because of its alleged spying attempts, also is contributing to Europe's attempts to grow more independent from Chinese chip makers. Huawei denies spying.

European Commission Vice President Andrus Ansip, who covers digital issues, said earlier this month that "I think we have to be worried about" Huawei and other Chinese companies who, he said, have been ordered to cooperate with Chinese intelligence services. He said this is partly about "chips they can put somewhere to get some...of our secrets."

In a statement, Huawei Europe said it was "surprised and disappointed" by Mr. Ansip's remarks.

Laurence Norman contributed to this article.

Write to Valentina Pop at valentina.pop@wsj.com

 

(END) Dow Jones Newswires

December 18, 2018 13:11 ET (18:11 GMT)

10:0018-12-2018
Leonardo, Siemens Win Rome Airport Baggage-Handling Contract
 
   By Alberto Delclaux 
 

Leonardo SpA (LDO.MI) said Tuesday that it won a 96 million-euro ($108.8 million) contract to maintain baggage-handling systems in Rome's Ciampino and Fiumicino airports, in partnership with Siemens AG (SIE.XE).

Leonardo holds 84% of the partnership, while Siemens owns the remaining 16%.

The contract will run for four years and includes an option for an additional four, the Italian company said.

 

Write to Alberto Delclaux at alberto.delclaux@dowjones.com

 

(END) Dow Jones Newswires

December 18, 2018 04:00 ET (09:00 GMT)

08:3218-12-2018
League Takes Another Shot at Indoor Lacrosse -- WSJ

Organizers say enough has changed to make a new franchise stick on Long Island

By Andrew Beaton 

This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (December 18, 2018).

The National Lacrosse League has dabbled in the New York area before. It didn't go so well. Those teams either moved, folded or moved and then folded.

The NLL announced this week that an expansion franchise will return indoor lacrosse to Long Island -- a noted hotbed for the sport -- in 2019. And the organizers believe that, unlike the previous failed iterations, a confluence of changes from a rise in grass-roots interest to stronger leaguewide ownership will make this version successful.

"It's natural for the New York market to be part of this," said Gary Fuhrman, managing partner of GF Capital, a private-equity firm, and part of the team's ownership group. "It's very different than it ever has been. I think now's really the moment for this sport."

When Nick Sakiewicz joined the NLL as the commissioner in 2016, he realized the league held a peculiar spot in the sports cosmos. A longtime executive in Major League Soccer since its founding, Mr. Sakiewicz didn't see the NLL anything like something that had already been in existence for three decades.

That is because sports leagues typically go one of two ways: A select few of them become financial behemoths, and many more fizzle.

The NLL hasn't gone either of those directions. The pro men's indoor lacrosse league was founded in 1986 and has never gone boom or bust. In many respects, for periods of time, it simply stayed afloat. To Mr. Sakiewicz, the league was both established but also in its infant stages -- it had existed for a while, but never really grown.

"I call this my 30-year-old startup," he said.

But after decades that have included numerous failed franchises, Mr. Sakiewicz is encouraged because he believes ownership in the league is stronger than ever. Those include the Pegula family, owners of the National Football League's Buffalo Bills and National Hockey League's Buffalo Sabres, and other new partners who have shown a willingness to invest in box lacrosse, the indoor version of the sport played on a smaller field that its proponents say can be livelier than the outdoor version.

Among those new league owners: Joseph Tsai, the billionaire and co-founder of Alibaba Group Holding Ltd. Mr. Tsai, who played lacrosse at Yale, purchased the NLL's expansion franchise in San Diego, which is beginning play this season, for about $5 million, a person familiar with the matter said.

And GF Sports, a live event and sports company that also runs other events in the New York area where Mr. Fuhrman is a board member, became owners of the NLL's 13th franchise in Long Island. The group paid nearly $10 million for the team, the person said.

The NLL has been in the region before. The New Jersey Storm played in East Rutherford from 2002-03 before moving to Anaheim, Calif., and later going defunct. The New York Titans bounced around venues from 2007-09, moved to Orlando, Fla., and eventually folded, too. The New Jersey Saints moved to New York in 1989 and lasted until 2003, playing their games at Nassau Coliseum, after which they also closed shop.

The new and yet-to-be-named Long Island team will also play at Nassau Coliseum, which welcomed back the NHL's New York Islanders this season. Part of the problem in the past with many of the failed franchises, Mr. Sakiewicz said, was rooted in unfavorable stadium deals that made it nearly impossible for teams to profit. That isn't the case with the new franchise and the Nassau Coliseum, he said.

The organizers said enough has changed with the league in recent years -- new owners willing to invest in the operations, growing interest in the game and a coherent long-term plan -- that this latest franchise will thrive.

"It's a really unique caliber of owners for an emerging sport," Mr. Fuhrman said. "There's very long-term thinking."

Write to Andrew Beaton at andrew.beaton@wsj.com

 

(END) Dow Jones Newswires

December 18, 2018 02:32 ET (07:32 GMT)

07:1618-12-2018
Italy Calendar of Corporate Events - Month Ahead
Companies marked * display an estimated release date based on last year's report. An update is planned. 
 
Tuesday, December 18, 2018 
Company                        Event 
Koninklijke Wessanen (WES.AE)* Capital Markets Day 
 
Wednesday, December 19, 2018 
Company                        Event 
Alerion Cleanpower (ARN.MI)    EGM re increase of share capital 
Sesa (SES.MI)                  Interim 2019 Results 
Beni Stabili (BNS.MI)          Interim 2018 Dividend payment date - 
                               proposed (seen 0.02136) 
 
Thursday, December 20, 2018 
Company                        Event 
Gruppo Ceramiche Ricchetti     Interim 2018 Results 
      (RIC.MI)* 
 
Friday, December 21, 2018 
Company                        Event 
Damiani (DMN.MI)               Interim 2019 Results 
 
Saturday, December 22, 2018 
Company                        Event 
Banca Carige - Ord (CRG.MI)    EGM re audit election 
 
Thursday, December 27, 2018 
Company                        Event 
Diasorin (DIA.MI)              Special ex-dividend date - proposed (seen 
                               1.80) 
 
Monday, December 31, 2018 
Company                        Event 
Diasorin (DIA.MI)              Special dividend payment date - proposed 
                               (seen 1.80) 
 
Thursday, January 3, 2019 
Company                        Event 
axelero Spa (AXEL.MI)*         Full year 2017 AGM - 1st call 
 
Friday, January 4, 2019 
Company                        Event 
axelero Spa (AXEL.MI)*         Full year 2017 AGM - 2nd call [if required] 
 
Monday, January 7, 2019 
Company                        Event 
Brunello Cucinelli (BC.MI)     Full year 2018 Sales [prelims] 
 
Wednesday, January 9, 2019 
Company                        Event 
El.En. (ELN.MI)                General meeting re purchase of our shares 
                               - 1st call 
 
Thursday, January 10, 2019 
Company                        Event 
Unieuro (UNIR.MI)              Q3 2018 Results 
 
 
 

(END) Dow Jones Newswires

December 18, 2018 01:16 ET (06:16 GMT)

15:3018-12-2018
Europe Tackles Chinese Competition With Multibillion Investment in Microelectronics -- Update
By Valentina Pop 

BRUSSELS -- The European Union's antitrust watchdog on Tuesday approved plans by France, Germany, Italy and the U.K. to fund a multibillion research project in microelectronics, as the bloc seeks to keep up with Chinese competitors.

The decision -- the first under rules that came into force in 2014 -- allows the four countries to allocate up to EUR8 billion ($9.11 billion) in public and private funding by 2024 for research centers and companies to jointly work on microchips and sensors becoming smarter and more energy-efficient.

"This can help Europe leap in innovation to benefit its economy and citizens," said competition commissioner Margrethe Vestager.

The bloc that seeks to promote the capability of European corporate giants to take on Chinese competitors, gain more transparency on how China uses subsidies to promote its companies abroad and screen Chinese and other foreign investments in Europe.

The European Commission earlier this year had drawn the ire of French and German officials after it raised antitrust objections to the planned merger of two railway giants -- Germany's Siemens and France's Alstom -- a project actively promoted by French President Emmanuel Macron to compete against China's rail behemoths.

German Chancellor Angela Merkel in June said publicly that EU competition law "does not help us sufficiently" to create global champions.

Ms. Vestager refuted that claim and said EU competition law in recent years allowed the creation of global giants in industries such as cement, beer and dairy. "This is all to show that you can have both amazing companies that have a European home and a European market that benefits from competition," she said.

On the Siemens-Alstom merger, she said companies have submitted concessions, but that it was still up to the marketplace to decide whether those concessions are sufficient for the merger to go ahead.

German electronics makers Robert Bosch and Infineon are included in the project approved Tuesday, according to the commission. Germany in recent years has become wary of Chinese purchases of European high-tech companies, after its robotics company Kuka was taken over by a Chinese company in 2016.

Largely in response to that acquisition, which took German authorities by surprise, Berlin has pushed for an investment screening system at European level whereby countries need to notify each other whenever companies from outside the bloc purchase strategic infrastructure or technologies. A political agreement on that investment screening notification system was reached last month, and should enter into force next year.

"The decision is an important signal that the European Commission is strengthening Europe as a digital and high-tech location and that Europe will not let itself be pushed off the pitch in strategically important future industries," said a senior EU diplomat. "For the EU, this is also about compensating unfair competitive advantages of Chinese suppliers who can rely on almost unlimited financial support from Beijing in the system of the Chinese state capitalism," the diplomat added.

The recent scandal surrounding Chinese smartphone maker Huawei, which the U.S. has urged allies -- including Germany and Italy -- to avoid using, also is contributing to Europe's attempts to grow more independent from Chinese chip makers.

European Commission Vice President Andrus Ansip, who covers digital issues, said earlier this month that "I think we have to be worried about" Huawei and other Chinese companies who, he said, have been ordered to cooperate with Chinese intelligence services. He said this is partly about "chips they can put somewhere to get some...of our secrets."

In a statement, Huawei Europe said it was "surprised and disappointed" by Mr. Ansip's remarks.

Laurence Norman contributed to this article.

Write to Valentina Pop at valentina.pop@wsj.com

 

(END) Dow Jones Newswires

December 18, 2018 09:30 ET (14:30 GMT)

09:0118-12-2018
Italy's FTSE MIB Falls 0.7% in Opening Trade
 

(END) Dow Jones Newswires

December 18, 2018 03:01 ET (08:01 GMT)

22:5518-12-2018
G7 Political, Economic Calendar - Week Ahead -2-
                       Prices Received                                    21.9 
                       Delivery Times                                     5.0 
                       Inventories                                        9.5 
                       Shipments                                          21.6 
1330  CAN  Oct      Wholesale trade 
                       Wholesale Inventories, M/M%                        +0.6% 
                       Wholesale Trade, M/M%                              -0.5% 
1330  CAN  Oct      Payroll employment, earnings & hours 
1445  US            Bloomberg Consumer Comfort Index 
1500  US   Nov      Leading Indicators 
                       Leading Index, M/M%                     +0.0%      +0.1% 
                       Leading Index                                      112.1 
                       Coincident Index, M/M%                             +0.2% 
                       Lagging Index, M/M%                                +0.4% 
1530  US   12/14    EIA Weekly Natural Gas Storage Report 
                       Working Gas In Storage (Cbf)                       2914B 
                       Working Gas In Storage, Net Chg (Cbf)              -77B 
1900  US            SEC Closed Meeting 
2130  US            Federal Discount Window Borrowings 
2130  US            Foreign Central Bank Holdings 
2130  US            Money Stock Measures 
2330  JPN  Nov      CPI (Nation), CPI ex-food (Nation) 
                       Japan Core CPI, Y/Y%                    +1.0%      +1.0% 
                       National Overall CPI, Y/Y%                         +1.4% 
                       National Overall CPI, M/M%                         +0.2% 
N/A   JPN  Dec      Monthly Economic Report 
N/A   JPN           OECD Working better with age: Japan report launch 
N/A   JPN           Japan Monetary Policy Meeting decision 
                       Deposit Rate                                       -0.1% 
                       10-Yr Yield Target                                 0% 
                       Asset Purchase Target (JPY) 
N/A   UK            Scottish politicians have Brexit revoking confirmed 
 
Friday, December 21, 2018                                      Exp        Prev 
 GMT 
0001  UK   Nov      UK monthly automotive manufacturing figures 
0001  UK   Dec      UK Consumer Confidence Survey 
                       Consumer Conf Idx                       -14        -13 
0500  JPN  Nov      Supermarket sales 
0530  JPN  Nov      Nationwide department store sales 
                       Sales, Y/Y%                                        +1.6% 
0530  JPN  Nov      Tokyo area department store sales 
0700  GER  Jan      GfK consumer climate survey 
                       Consumer Conf Idx                       10.3       10.4 
0700  GER  Nov      Foreign trade price indices 
0700  EU   Nov      New Commercial Vehicle Registrations in Europe statistics 
                    (EU27 + EFTA3) 
0745  FRA  Q3       GDP - detailed figures 
0745  FRA  Nov      Household consumption expenditure in manufactured goods 
                       Consumer Spending M/M%                  +0.2%      +0.8% 
                       Consumer Spending Y/Y%                  -1.8%      +0.9% 
0745  FRA  Dec      Monthly business survey (goods-producing industries) 
                       Business Sent Idx                       103        105 
0745  FRA  Nov      PPI 
0830  EU   Dec      EuroCOIN indicator of euro area economic activity 
0900  ITA  Dec      Consumer Confidence Survey 
0900  ITA  Dec      Business Confidence Survey 
0930  UK   Q3       Balance of Payments 
                       Current Account (GBP)                   -23.3B     -20.3B 
0930  UK   Q3       Business investment revised results 
                       Business Invest, Q/Q%                              -0.7% 
                       Business Invest, Y/Y%                              -0.2% 
                       Business Invest, Q/Q% 
                       Business Invest, Y/Y% 
0930  UK   Q3       UK quarterly national accounts 
                       GDP, Q/Q%                               +0.6%      +0.4% 
                       GDP, Y/Y%                               +1.5%      +1.2% 
0930  UK   Q3       Bank of England statistics on UK banks' external claims 
0930  UK   Nov      Public sector finances 
                       PSNB ex (GBP)                           7.8B       8.8B 
                       PSNB ex, Yr Ago (GBP)                              7.2B 
                       PSNCR (GBP)                                        -4.0B 
                       PSNCR ex Yr Ago (GBP)                              -1.6B 
1000  ITA  Nov      Foreign Trade non-EU 
1200  UK   Q4       Bank of England Quarterly Bulletin 
1330  US   Q3       3rd estimate GDP 
                       Annual Rate, Q/Q%                       +3.5%      +3.5% 
                       Chain-Weighted Price Idx, Q/Q%          +1.7%      +1.7% 
                       Corporate Profits, Q/Q%                            +0.7% 
                       PCE Price Idx, Q/Q%                                +1.5% 
                       Purchase Price Idx, Q/Q%                           +1.7% 
                       Real Final Sales, Q/Q%                             +1.2% 
                       Core PCE Price Idx, Ex Food/Energy,                +1.5% 
                       Q/Q% 
                       Personal Consumption, Q/Q%                         +3.6% 
1330  US   Nov      Advance Report on Durable Goods 
                       Durable Goods-SA, M/M%                  +1.3%      -4.4% 
                       Dur Goods, Ex-Defense, M/M%                        -1.2% 
                       Dur Goods, Ex-Transport, M/M%                      +0.1% 
                       Orders: Cap Gds, Non-Def, Ex-Air, M/M%             +0.0% 
                       Shipmnts: Cap Gds, Non-Def, Ex-Air,                +0.3% 
                       M/M% 
1330  US   Q3       Revised Corporate Profits 
1330  CAN  Oct      Retail trade 
                       Total Retail Sales, M/M%                           +0.2% 
                       Retail Sales Ex-Autos, M/M%                        +0.1% 
1330  CAN  Oct      GDP 
                       GDP, M/M%                                          -0.1% 
                       Qtrly Annualized % Chg 
                       Imports, Q/Q% 
                       Exports, Q/Q% 
                       Business Inventories (CAD) 
                       Domestic Demand, Q/Q% 
1500  US   Nov      Regional & State Employment & Unemployment 
1500  US   Dec      University of Michigan Survey of Consumers - final 
                       End-Mo Sentiment Idx                    97.0       97.5 
                       End-Mo Expectations Idx                            88.1 
                       12-Month Inflation Forecast                        2.8% 
                       5-Year Inflation Forecast                          2.6% 
                       End-Mo Current Idx                                 112.3 
1500  US   Nov      Personal Income & Outlays 
                       Personal Income, M/M%                   +0.3%      +0.5% 
                       Consumer Spending, M/M%                 +0.4%      +0.6% 
                       PCE Price Idx, M/M%                                +0.2% 
                       PCE Price Idx, Y/Y%                                +2.0% 
                       PCE Core Price Idx, M/M%                +0.2%      +0.1% 
                       PCE Core Price Idx, Y/Y%                +1.9%      +1.8% 
1500  CAN           Bank of Canada Business Outlook Survey 
1500  EU   Dec      FCCI Flash Consumer Confidence Indicator 
                       Consumer Conf Idx                       -4.2       -3.9 
1600  US   Dec      Federal Reserve Bank of Kansas City Survey of Tenth District 
                    Manufacturing 
                       Mfg Activity Idx                                   24 
                       6-Mo Exp Prod Idx                                  27 
                       Mfg Composite Idx                       12         15 
                       6-Mo Exp Composite Idx                             16 
N/A   JPN  Oct      Final Labour Survey - Earnings, Employment & Hours Worked 
N/A   US            Deadline for new funding deal to avert partial U.S. Govt 
                    shutdown 
N/A   UK            CMA deadline to comment on PepsiCo / Pipers Crisps merger 
                    inquiry 
N/A   UK            FCA consultations close 
 
Sunday, December 23, 2018                                      Exp        Prev 
 GMT 
0001  UK   Dec      CBI Growth Indicator Survey 
N/A   JPN           Japan: Emperor's Birthday. Financial markets closed 
 
Monday, December 24, 2018                                      Exp        Prev 
 GMT 
1230  UK            UK: Financial markets close early on Christmas Eve 
1330  US   Nov      CFNAI Chicago Fed National Activity Index 
                       NAI                                                0.24 
                       NAI, 3-mo Moving Avg                               0.31 
1800  US            U.S. financial markets close early on Christmas Eve. Markets 
                    close at 13:00 EST 
2350  JPN  Nov      Services Producer Price Index 
N/A   ITA           Italy: Financial markets closed for Christmas Eve 
N/A   CAN           Canada: Financial markets close early on Christmas Eve 
N/A   JPN           Japan: Emperor's Birthday observed. Financial markets closed 
N/A   UK            Channel Islands: Financial markets close early for Christmas 
                    Eve 
N/A   FRA           France: Financial markets close early on Christmas Eve 
N/A   GER           Germany: Financial markets closed for Christmas Eve 
 
Tuesday, December 25, 2018                                     Exp        Prev 
 GMT 
0500  JPN  Oct      Indexes of Business Conditions - Revision 
2350  JPN           Bank of Japan Monetary Policy Meeting Minutes 
N/A   ITA           Italy: Christmas Day. Financial markets closed 

(MORE TO FOLLOW) Dow Jones Newswires

December 18, 2018 16:55 ET (21:55 GMT)

22:5518-12-2018
G7 Political, Economic Calendar - Week Ahead
All dates are in GMT. 
 
Tuesday, December 18, 2018                                     Exp        Prev 
 GMT 
2350  JPN  Nov      Provisional Trade Statistics for the Month 
                       Trade Balance (JPY)                     -589.8B    -449.3B 
                       Exports, Y/Y%                                      +8.2% 
                       Imports, Y/Y%                                      +19.9% 
                       Exports To Asia, Y/Y%                              +7.3% 
                       Exports To China, Y/Y%                             +9.0% 
                       Exports To US, Y/Y%                                +11.6% 
                       Exports To Europe, Y/Y%                            +7.7% 
N/A   UK            MPs debate bill to reverse Brexit unless Parliament approves 
                    and new referendum held 
N/A   FRA           Final data on 2017 aid flows from OECD donor countries launch 
N/A   UK            CBI / Pertemps Network Group Employment Trends Survey 
N/A   US            U.S. Federal Open Market Committee meeting 
 
Wednesday, December 19, 2018                                   Exp        Prev 
 GMT 
0001  UK   Dec      REC JobsOutlook survey 
0001  UK   Nov      Hometrack UK Cities House Price Index 
0700  GER  Nov      PPI 
0855  UK            House of Commons General Committees 
0915  UK            'The progress of the UK's negotiations on EU withdrawal' 
                    evidence session 
0930  UK   Nov      UK monthly inflation figures 
                       CPI, M/M%                               +0.2%      +0.1% 
                       CPI, Y/Y%                               +2.3%      +2.4% 
                       Core CPI, M/M%                                     +0.0% 
                       Core CPI, Y/Y%                          +1.85%     +1.9% 
                       Retail Price Idx, M/M%                  +0.2%      +0.1% 
                       Retail Price Idx, Y/Y%                  +3.3%      +3.3% 
0930  UK   Nov      UK producer prices 
                       Core Output PPI, M/M%                              +0.3% 
                       Core Output PPI, Y/Y%                              +2.4% 
                       Input PPI, M/M%                         -2.7%      +0.8% 
                       Input PPI, Y/Y%                         +5.4%      +10.0% 
                       Output PPI, M/M%                        +0.0%      +0.3% 
                       Output PPI, Y/Y%                        +3.0%      +3.3% 
0930  UK   Q3       Scottish GDP: First Estimate 
0930  UK   Dec      Forecasts for the UK economy statistical release 
0930  UK            Westminster Hall debates 
0930  UK   Oct      UK House Price Index 
1000  UK            Financial Conduct Authority publishes policy statements 
1000  EU   Oct      Construction output 
1100  UK   Dec      CBI Monthly Industrial Trends Survey 
1200  US   12/15    MBA Weekly Mortgage Applications Survey 
                       Composite Idx                                      346 
                       Composite Idx, W/W%                                +1.6% 
                       Purchase Idx-SA                                    256.1 
                       Purchase Idx-SA, W/W%                              +2.5% 
                       Refinance Idx                                      851.6 
                       Refinance Idx, W/W%                                +1.8% 
1330  US   Q3       International Transactions 
                       Current Account (USD)                   -126.2B    -101.46B 
1330  CAN  Nov      CPI 
                       CPI-Common, Y/Y%                                   +1.9% 
                       CPI-Median, Y/Y%                                   +2.0% 
                       CPI-Trim, Y/Y%                                     +2.1% 
                       All Items CPI, Y/Y%                                +2.4% 
                       All Items CPI, M/M%                                +0.3% 
1400  US            SEC Open Meeting 
1500  US   Nov      Existing Home Sales 
                       Existing Sales                          5.17M      5.22M 
                       Existing Sales, M/M%                    -1.0%      +1.4% 
                       Unsold Homes Month's Supply                        4.3 
                       Median Price (USD)                                 255400 
                       Median Home Price, Y/Y%                            +3.8% 
1500  UK            House of Lords sitting 
1530  US   12/15    EIA Weekly Petroleum Status Report 
                       Crude Oil Stocks (Bbl)                             441.954M 
                       Crude Oil Stocks, Net Chg (Bbl)         -3.1M      -1.208M 
                       Gasoline Stocks (Bbl)                              228.337M 
                       Gasoline Stocks, Net Chg (Bbl)          +1.0M      +2.087M 
                       Distillate Stocks (Bbl)                            124.137M 
                       Distillate Stocks, Net Chg (Bbl)        +0.3M      -1.475M 
                       Refinery Usage                          95.4%      95.1% 
                       Total Prod Supplied (Bbl/day)                      21.481M 
                       Total Prod Supplied, Net Chg (Bbl/day)             +0.951M 
1900  US            Federal Reserve economic projections 
                       Median Fed Funds Rate - 2018                       2.4% 
                       Median Fed Funds Rate - 2019                       3.1% 
                       Median Fed Funds Rate - 2020                       3.4% 
                       Median Fed Funds Rate - 2021                       3.4% 
1900  US            U.S. interest rate decision, followed by Jerome Powell press 
                    briefing 
                       Federal Funds Rate 
                       Federal Funds Rate Change (Pts) 
                       Fed Funds Rate-Range High                          2.25 
                       Fed Funds Rate-Range Low                           2.00 
                       FOMC Vote For Action                               9 
                       FOMC Vote Against Action                           0 
                       Discount Rate                                      2.75 
                       Discount Rate Change (Pts)                         +0.00 
                       Discount Rate-Range High 
                       Discount Rate-Range Low 
2300  UK            100 days until Brexit 
N/A   FRA           OECD Safe Pathways for Refugees report launch 
N/A   UK            Business groups call on politicians to avoid 'disorderly 
                    no-deal Brexit' 
N/A   UK            'Fisheries Bill' inquiry deadline 
N/A   US            Financial Stability Oversight Council latest meeting 
N/A   UK            'Financial sustainability of health and social care a serious 
                    and ongoing concern' say MPs 
N/A   UK            'Majority of business leaders believe the government is not 
                    negotiating the best Brexit deal for business', says BDO 
N/A   JPN           Bank of Japan Monetary Policy Meeting 
N/A   UK            CMA deadline for views on Experian / ClearScore provisional 
                    findings 
N/A   UK            Immigration white paper expected 
N/A   EU            Brussels publishes information on no-deal Brexit preparations 
 
Thursday, December 20, 2018                                    Exp        Prev 
 GMT 
0430  JPN  Oct      All Industry Index 
0500  JPN  Nov      Steel Production 
0600  JPN  Nov      Revised Machine Tool Orders 
0700  JPN  Nov      Convenience Store Sales 
0900  ITA  Nov      PPI 
0900  EU   Oct      Euro area balance of payments 
0930  UK            House of Commons sitting 
0930  UK   Nov      UK monthly retail sales figures 
                       Retail Sales, M/M%                      +0.5%      -0.5% 
                       Retail Sales, Y/Y%                      +2.1%      +2.2% 
0930  UK   Nov      Capital issuance 
0930  UK            Liam Fox takes International Trade questions from MPs 
1000  ITA  Oct      Balance of Payments 
                       Current Account (EUR)                              3.154B 
1100  UK   Nov      Aluminium Production report 
1100  UK            House of Lords sitting 
1100  UK   Dec      CBI Monthly Distributive Trades Survey 
1130  UK            House of Commons General Committees 
1200  UK            Agents' Summary of Business Conditions 
1200  UK            Bank of England MPC meeting minutes 
                       Votes Against Rate Decision             0          0 
                       Votes For Rate Decision                 9          9 
1200  UK            UK interest rate decision 
                       Bank Rate                               0.75       0.75 
                       Bank Rate-Range High 
                       Bank Rate-Range Low 
1330  US   Q3       State Quarterly Personal Income 
1330  US   12/15    Unemployment Insurance Weekly Claims Report - Initial Claims 
                       Jobless Claims                          215K       206K 
                       Jobless Claims, Net Chg                            -27K 
                       Continuing Claims                                  1661000 
                       Continuing Claims, Net Chg                         +25K 
1330  US            U.S. Weekly Export Sales 
                       Corn (Metric Tons)                                 1064.6K 
                       Soybeans (Metric Tons)                             795.3K 
                       Wheat (Metric Tons)                                754.1K 
1330  US   Dec      Philadelphia Fed Business Outlook Survey 
                       Business Activity                       15.0       12.9 
                       Prices Paid                                        39.3 
                       Employment                                         16.3 
                       New Orders                                         9.1 

(MORE TO FOLLOW) Dow Jones Newswires

December 18, 2018 16:55 ET (21:55 GMT)

07:5518-12-2018
G7 Political, Economic Calendar - Week Ahead -3-
N/A   UK            FCA consultations close 
N/A   JPN  Oct      Final Labour Survey - Earnings, Employment & Hours Worked 
N/A   US            Deadline for new funding deal to avert partial U.S. Govt 
                    shutdown 
 
Saturday, December 22, 2018                                    Exp        Prev 
 ET 
1901  UK   Dec      CBI Growth Indicator Survey 
 
Sunday, December 23, 2018                                      Exp        Prev 
 ET 
N/A   JPN           Japan: Emperor's Birthday. Financial markets closed 
 
Monday, December 24, 2018                                      Exp        Prev 
 ET 
0730  UK            UK: Financial markets close early on Christmas Eve 
0830  US   Nov      CFNAI Chicago Fed National Activity Index 
                       NAI                                                0.24 
                       NAI, 3-mo Moving Avg                               0.31 
1300  US            U.S. financial markets close early on Christmas Eve. Markets 
                    close at 13:00 EST 
1850  JPN  Nov      Services Producer Price Index 
N/A   UK            Channel Islands: Financial markets close early for Christmas 
                    Eve 
N/A   FRA           France: Financial markets close early on Christmas Eve 
N/A   GER           Germany: Financial markets closed for Christmas Eve 
N/A   ITA           Italy: Financial markets closed for Christmas Eve 
N/A   CAN           Canada: Financial markets close early on Christmas Eve 
N/A   JPN           Japan: Emperor's Birthday observed. Financial markets closed 
 
Tuesday, December 25, 2018                                     Exp        Prev 
 ET 
N/A   US            Marianas: Christmas Day 
N/A   US            U.S.: Christmas Day. Financial markets closed 
N/A   UK            Channel Islands: Christmas Day. Financial markets closed 
N/A   CAN           Canada: Christmas Day. Financial markets closed 
N/A   FRA           France: Christmas Day. Financial markets closed 
0000  JPN  Oct      Indexes of Business Conditions - Revision 
1850  JPN           Bank of Japan Monetary Policy Meeting Minutes 
N/A   ITA           Italy: Christmas Day. Financial markets closed 
N/A   UK            UK: Christmas Day. Financial markets closed 
N/A   GER           Germany: Christmas Day. Financial markets closed 
 
 

(END) Dow Jones Newswires

December 18, 2018 01:55 ET (06:55 GMT)

22:5518-12-2018
G7 Political, Economic Calendar - Week Ahead -2-
0830  CAN  Oct      Payroll employment, earnings & hours 
0830  US   Q3       State Quarterly Personal Income 
0830  US   12/15    Unemployment Insurance Weekly Claims Report - Initial Claims 
                       Jobless Claims                          215K       206K 
                       Jobless Claims, Net Chg                            -27K 
                       Continuing Claims                                  1661000 
                       Continuing Claims, Net Chg                         +25K 
0945  US            Bloomberg Consumer Comfort Index 
1000  US   Nov      Leading Indicators 
                       Leading Index, M/M%                     +0.0%      +0.1% 
                       Leading Index                                      112.1 
                       Coincident Index, M/M%                             +0.2% 
                       Lagging Index, M/M%                                +0.4% 
1030  US   12/14    EIA Weekly Natural Gas Storage Report 
                       Working Gas In Storage (Cbf)                       2914B 
                       Working Gas In Storage, Net Chg (Cbf)              -77B 
1400  US            SEC Closed Meeting 
1630  US            Foreign Central Bank Holdings 
1630  US            Money Stock Measures 
1630  US            Federal Discount Window Borrowings 
1830  JPN  Nov      CPI (Nation), CPI ex-food (Nation) 
                       Japan Core CPI, Y/Y%                    +1.0%      +1.0% 
                       National Overall CPI, Y/Y%                         +1.4% 
                       National Overall CPI, M/M%                         +0.2% 
1901  UK   Nov      UK monthly automotive manufacturing figures 
1901  UK   Dec      UK Consumer Confidence Survey 
                       Consumer Conf Idx                       -14        -13 
N/A   UK            Scottish politicians have Brexit revoking confirmed 
N/A   JPN           Japan Monetary Policy Meeting decision 
                       Deposit Rate                                       -0.1% 
                       10-Yr Yield Target                                 0% 
                       Asset Purchase Target (JPY) 
0000  JPN  Nov      Steel Production 
N/A   JPN  Dec      Monthly Economic Report 
N/A   JPN           OECD Working better with age: Japan report launch 
 
Friday, December 21, 2018                                      Exp        Prev 
 ET 
0030  JPN  Nov      Nationwide department store sales 
                       Sales, Y/Y%                                        +1.6% 
0030  JPN  Nov      Tokyo area department store sales 
0200  GER  Nov      Foreign trade price indices 
0200  EU   Nov      New Commercial Vehicle Registrations in Europe statistics 
                    (EU27 + EFTA3) 
0200  GER  Jan      GfK consumer climate survey 
                       Consumer Conf Idx                       10.3       10.4 
0245  FRA  Dec      Monthly business survey (goods-producing industries) 
                       Business Sent Idx                       103        105 
0245  FRA  Nov      PPI 
0245  FRA  Nov      Household consumption expenditure in manufactured goods 
                       Consumer Spending M/M%                  +0.2%      +0.8% 
                       Consumer Spending Y/Y%                  -1.8%      +0.9% 
0245  FRA  Q3       GDP - detailed figures 
0330  EU   Dec      EuroCOIN indicator of euro area economic activity 
0400  ITA  Dec      Business Confidence Survey 
0400  ITA  Dec      Consumer Confidence Survey 
0430  UK   Q3       UK quarterly national accounts 
                       GDP, Q/Q%                               +0.6%      +0.4% 
                       GDP, Y/Y%                               +1.5%      +1.2% 
0430  UK   Q3       Bank of England statistics on UK banks' external claims 
0430  UK   Nov      Public sector finances 
                       PSNB ex (GBP)                           7.8B       8.8B 
                       PSNB ex, Yr Ago (GBP)                              7.2B 
                       PSNCR (GBP)                                        -4.0B 
                       PSNCR ex Yr Ago (GBP)                              -1.6B 
0430  UK   Q3       Balance of Payments 
                       Current Account (GBP)                   -23.3B     -20.3B 
0430  UK   Q3       Business investment revised results 
                       Business Invest, Q/Q%                              -0.7% 
                       Business Invest, Y/Y%                              -0.2% 
                       Business Invest, Q/Q% 
                       Business Invest, Y/Y% 
0500  ITA  Nov      Foreign Trade non-EU 
0700  UK   Q4       Bank of England Quarterly Bulletin 
0830  US   Q3       Revised Corporate Profits 
0830  CAN  Oct      Retail trade 
                       Total Retail Sales, M/M%                           +0.2% 
                       Retail Sales Ex-Autos, M/M%                        +0.1% 
0830  CAN  Oct      GDP 
                       GDP, M/M%                                          -0.1% 
                       Qtrly Annualized % Chg 
                       Imports, Q/Q% 
                       Exports, Q/Q% 
                       Business Inventories (CAD) 
                       Domestic Demand, Q/Q% 
0830  US   Q3       3rd estimate GDP 
                       Annual Rate, Q/Q%                       +3.5%      +3.5% 
                       Chain-Weighted Price Idx, Q/Q%          +1.7%      +1.7% 
                       Corporate Profits, Q/Q%                            +0.7% 
                       PCE Price Idx, Q/Q%                                +1.5% 
                       Purchase Price Idx, Q/Q%                           +1.7% 
                       Real Final Sales, Q/Q%                             +1.2% 
                       Core PCE Price Idx, Ex Food/Energy,                +1.5% 
                       Q/Q% 
                       Personal Consumption, Q/Q%                         +3.6% 
0830  US   Nov      Advance Report on Durable Goods 
                       Durable Goods-SA, M/M%                  +1.3%      -4.4% 
                       Dur Goods, Ex-Defense, M/M%                        -1.2% 
                       Dur Goods, Ex-Transport, M/M%                      +0.1% 
                       Orders: Cap Gds, Non-Def, Ex-Air, M/M%             +0.0% 
                       Shipmnts: Cap Gds, Non-Def, Ex-Air,                +0.3% 
                       M/M% 
1000  US   Nov      Personal Income & Outlays 
                       Personal Income, M/M%                   +0.3%      +0.5% 
                       Consumer Spending, M/M%                 +0.4%      +0.6% 
                       PCE Price Idx, M/M%                                +0.2% 
                       PCE Price Idx, Y/Y%                                +2.0% 
                       PCE Core Price Idx, M/M%                +0.2%      +0.1% 
                       PCE Core Price Idx, Y/Y%                +1.9%      +1.8% 
1000  CAN           Bank of Canada Business Outlook Survey 
1000  EU   Dec      FCCI Flash Consumer Confidence Indicator 
                       Consumer Conf Idx                       -4.2       -3.9 
1000  US   Nov      Regional & State Employment & Unemployment 
1000  US   Dec      University of Michigan Survey of Consumers - final 
                       End-Mo Sentiment Idx                    97.0       97.5 
                       End-Mo Expectations Idx                            88.1 
                       12-Month Inflation Forecast                        2.8% 
                       5-Year Inflation Forecast                          2.6% 
                       End-Mo Current Idx                                 112.3 
1100  US   Dec      Federal Reserve Bank of Kansas City Survey of Tenth District 
                    Manufacturing 
                       Mfg Activity Idx                                   24 
                       6-Mo Exp Prod Idx                                  27 
                       Mfg Composite Idx                       12         15 
                       6-Mo Exp Composite Idx                             16 
N/A   UK            CMA deadline to comment on PepsiCo / Pipers Crisps merger 
                    inquiry 
N/A   UK            FCA consultations close 
N/A   US            Deadline for new funding deal to avert partial U.S. Govt 
                    shutdown 
0000  JPN  Nov      Supermarket sales 
N/A   JPN  Oct      Final Labour Survey - Earnings, Employment & Hours Worked 
 
Saturday, December 22, 2018                                    Exp        Prev 
 ET 
1901  UK   Dec      CBI Growth Indicator Survey 
 
Sunday, December 23, 2018                                      Exp        Prev 
 ET 
N/A   JPN           Japan: Emperor's Birthday. Financial markets closed 
 
Monday, December 24, 2018                                      Exp        Prev 
 ET 
0730  UK            UK: Financial markets close early on Christmas Eve 
0830  US   Nov      CFNAI Chicago Fed National Activity Index 
                       NAI                                                0.24 
                       NAI, 3-mo Moving Avg                               0.31 
1300  US            U.S. financial markets close early on Christmas Eve. Markets 
                    close at 13:00 EST 
1850  JPN  Nov      Services Producer Price Index 
N/A   UK            Channel Islands: Financial markets close early for Christmas 
                    Eve 
N/A   FRA           France: Financial markets close early on Christmas Eve 
N/A   GER           Germany: Financial markets closed for Christmas Eve 
N/A   ITA           Italy: Financial markets closed for Christmas Eve 
N/A   CAN           Canada: Financial markets close early on Christmas Eve 
N/A   JPN           Japan: Emperor's Birthday observed. Financial markets closed 
 
Tuesday, December 25, 2018                                     Exp        Prev 
 ET 
1850  JPN           Bank of Japan Monetary Policy Meeting Minutes 
N/A   UK            Channel Islands: Christmas Day. Financial markets closed 
N/A   US            Marianas: Christmas Day 

(MORE TO FOLLOW) Dow Jones Newswires

December 18, 2018 16:55 ET (21:55 GMT)

14:3718-12-2018
Europe Tackles Chinese Competition With Multibillion Investment in Microelectronics
By Valentina Pop 

BRUSSELS -- The European Union's antitrust watchdog on Tuesday approved plans by France, Germany, Italy and the U.K. to fund a multibillion research project in microelectronics, as the bloc seeks to keep up with Chinese competitors.

The decision -- the first under rules that came into force in 2014 -- allows the four countries to allocate up to EUR8 billion ($9.11 billion) in public and private funding by 2024 for research centers and companies to jointly work on microchips and sensors becoming smarter and more energy-efficient.

"This can help Europe leap in innovation to benefit its economy and citizens," said competition commissioner Margrethe Vestager.

The bloc that seeks to promote the capability of European corporate giants to take on Chinese competitors, gain more transparency on how China uses subsidies to promote its companies abroad and screen Chinese and other foreign investments in Europe.

The European Commission earlier this year had drawn the ire of French and German officials after it raised antitrust objections to the planned merger of two railway giants -- Germany's Siemens and France's Alstom -- a project actively promoted by French President Emmanuel Macron to compete against China's rail behemoths.

German Chancellor Angela Merkel in June said publicly that EU competition law "does not help us sufficiently" to create global champions.

Ms. Vestager refuted that claim and said EU competition law in recent years allowed the creation of global giants in industries such as cement, beer and dairy. "This is all to show that you can have both amazing companies that have a European home and a European market that benefits from competition," she said.

On the Siemens-Alstom merger, she said companies have submitted concessions, but that it was still up to the marketplace to decide whether those concessions are sufficient for the merger to go ahead.

German companies Infineon, Carl Zeiss and Robert Bosch are included in the project approved Tuesday, according to the commission. Germany in recent years has become wary of Chinese purchases of European high-tech companies, after its robotics company Kuka was taken over by a Chinese company in 2016.

Largely in response to that acquisition, which took German authorities by surprise, Berlin has pushed for an investment screening system at European level whereby countries need to notify each other whenever companies from outside the bloc purchase strategic infrastructure or technologies. A political agreement on that investment screening notification system was reached last month, and should enter into force next year.

The recent scandal surrounding Chinese smartphone maker Huawei, which the U.S. has urged allies -- including Germany and Italy -- to avoid using, also is contributing to Europe's attempts to grow more independent from Chinese chip makers.

European Commission Vice President Andrus Ansip, who covers digital issues, said earlier this month that "I think we have to be worried about" Huawei and other Chinese companies who, he said, have been ordered to cooperate with Chinese intelligence services. He said this is partly about "chips they can put somewhere to get some...of our secrets."

In a statement, Huawei Europe said it was "surprised and disappointed" by Mr. Ansip's remarks.

Laurence Norman contributed to this article.

Write to Valentina Pop at valentina.pop@wsj.com

 

(END) Dow Jones Newswires

December 18, 2018 08:37 ET (13:37 GMT)

10:5018-12-2018
Tod's Target Cut to EUR44 From EUR56 by Bryan Garnier
 

(END) Dow Jones Newswires

December 18, 2018 04:50 ET (09:50 GMT)

22:5518-12-2018
G7 Political, Economic Calendar - Week Ahead -3-
N/A   CAN           Canada: Christmas Day. Financial markets closed 
N/A   FRA           France: Christmas Day. Financial markets closed 
N/A   US            U.S.: Christmas Day. Financial markets closed 
N/A   ITA           Italy: Christmas Day. Financial markets closed 
0000  JPN  Oct      Indexes of Business Conditions - Revision 
N/A   UK            UK: Christmas Day. Financial markets closed 
N/A   GER           Germany: Christmas Day. Financial markets closed 
 
Wednesday, December 26, 2018                                   Exp        Prev 
 ET 
0745  US   12/22    The Retail Economist/Goldman Sachs Weekly Chain Store Sales 
                    Index 
                       Chain Store Sales, W/W%                            +3.9% 
                       Chain Store Sales, M/M%                            +3.3% 
0855  US   12/22    Johnson Redbook Retail Sales Index 
                       Ret Sales Mo-to-Date, M/M%                         -0.3% 
                       Ret Sales Mo-to-Date, Y/Y%                         +6.8% 
                       Latest Wk, Y/Y%                                    +7.1% 
0900  US   Oct      S&P CoreLogic Case-Shiller Indices 
                       10-City Idx, M/M%                                  +0% 
                       10-City Idx, Y/Y%                                  +4.8% 
                       20-City Idx, M/M%                                  +0% 
                       20-City Idx, Y/Y%                                  +5.1% 
                       National Idx, M/M%                                 +0.1% 
                       National Idx, Y/Y%                                 +5.5% 
1000  US   Dec      Richmond Fed Business Activity Survey 
                       Mfg Idx                                            14 
                       Shipments Idx                                      12 
1630  US   12/21    API Weekly Statistical Bulletin 
                       Crude Stocks, Net Chg (Bbls)                       +3.5M 
                       Gasoline Stocks, Net Chg (Bbls)                    +1.8M 
                       Distillate Stocks, Net Chg (Bbls)                  -3.4M 
1850  JPN  Dec      Provisional Trade Statistics for 1st 10 days of Month 
N/A   UK            Channel Islands: Boxing Day. Financial markets closed 
N/A   FRA           France: Financial markets closed for Boxing Day 
N/A   JPN           Bank of Japan Governor Haruhiko Kuroda speaks at a meeting of 
                    Councillors of Nippon Keidanren (Japan Business Federation) 
N/A   CAN           Canada: Boxing Day. Financial markets closed 
N/A   GER           Germany: Boxing Day. Financial markets closed 
N/A   ITA           Italy: St Stephen's Day. Financial markets closed 
N/A   UK            UK: Boxing Day. Financial markets closed 
 
 

(END) Dow Jones Newswires

December 18, 2018 16:55 ET (21:55 GMT)

07:5518-12-2018
G7 Political, Economic Calendar - Week Ahead -2-
1100  UK   Nov      Aluminium Production report 
1100  UK            House of Lords sitting 
1100  UK   Dec      CBI Monthly Distributive Trades Survey 
1130  UK            House of Commons General Committees 
1200  UK            Agents' Summary of Business Conditions 
1200  UK            Bank of England MPC meeting minutes 
                       Votes Against Rate Decision             0          0 
                       Votes For Rate Decision                 9          9 
1200  UK            UK interest rate decision 
                       Bank Rate                               0.75       0.75 
                       Bank Rate-Range High 
                       Bank Rate-Range Low 
1330  US   Q3       State Quarterly Personal Income 
1330  US   12/15    Unemployment Insurance Weekly Claims Report - Initial Claims 
                       Jobless Claims                          215K       206K 
                       Jobless Claims, Net Chg                            -27K 
                       Continuing Claims                                  1661000 
                       Continuing Claims, Net Chg                         +25K 
1330  US            U.S. Weekly Export Sales 
                       Corn (Metric Tons)                                 1064.6K 
                       Soybeans (Metric Tons)                             795.3K 
                       Wheat (Metric Tons)                                754.1K 
1330  US   Dec      Philadelphia Fed Business Outlook Survey 
                       Business Activity                       15.0       12.9 
                       Prices Paid                                        39.3 
                       Employment                                         16.3 
                       New Orders                                         9.1 
                       Prices Received                                    21.9 
                       Delivery Times                                     5.0 
                       Inventories                                        9.5 
                       Shipments                                          21.6 
1330  CAN  Oct      Wholesale trade 
                       Wholesale Inventories, M/M%                        +0.6% 
                       Wholesale Trade, M/M%                              -0.5% 
1330  CAN  Oct      Payroll employment, earnings & hours 
1445  US            Bloomberg Consumer Comfort Index 
1500  US   Nov      Leading Indicators 
                       Leading Index, M/M%                     +0.0%      +0.1% 
                       Leading Index                                      112.1 
                       Coincident Index, M/M%                             +0.2% 
                       Lagging Index, M/M%                                +0.4% 
1530  US   12/14    EIA Weekly Natural Gas Storage Report 
                       Working Gas In Storage (Cbf)                       2914B 
                       Working Gas In Storage, Net Chg (Cbf)              -77B 
1900  US            SEC Closed Meeting 
2130  US            Federal Discount Window Borrowings 
2130  US            Foreign Central Bank Holdings 
2130  US            Money Stock Measures 
2330  JPN  Nov      CPI (Nation), CPI ex-food (Nation) 
                       Japan Core CPI, Y/Y%                    +1.0%      +1.0% 
                       National Overall CPI, Y/Y%                         +1.4% 
                       National Overall CPI, M/M%                         +0.2% 
N/A   JPN  Dec      Monthly Economic Report 
N/A   JPN           OECD Working better with age: Japan report launch 
N/A   JPN           Japan Monetary Policy Meeting decision 
                       Deposit Rate                                       -0.1% 
                       10-Yr Yield Target                                 0% 
                       Asset Purchase Target (JPY) 
N/A   UK            Scottish politicians have Brexit revoking confirmed 
 
Friday, December 21, 2018                                      Exp        Prev 
 GMT 
0001  UK   Nov      UK monthly automotive manufacturing figures 
0001  UK   Dec      UK Consumer Confidence Survey 
                       Consumer Conf Idx                       -14        -13 
0500  JPN  Nov      Supermarket sales 
0530  JPN  Nov      Nationwide department store sales 
                       Sales, Y/Y%                                        +1.6% 
0530  JPN  Nov      Tokyo area department store sales 
0700  GER  Jan      GfK consumer climate survey 
                       Consumer Conf Idx                       10.3       10.4 
0700  GER  Nov      Foreign trade price indices 
0700  EU   Nov      New Commercial Vehicle Registrations in Europe statistics 
                    (EU27 + EFTA3) 
0745  FRA  Nov      Household consumption expenditure in manufactured goods 
                       Consumer Spending M/M%                  +0.2%      +0.8% 
                       Consumer Spending Y/Y%                  -1.8%      +0.9% 
0745  FRA  Dec      Monthly business survey (goods-producing industries) 
                       Business Sent Idx                       103        105 
0745  FRA  Nov      PPI 
0745  FRA  Q3       GDP - detailed figures 
0830  EU   Dec      EuroCOIN indicator of euro area economic activity 
0900  ITA  Dec      Business Confidence Survey 
0900  ITA  Dec      Consumer Confidence Survey 
0930  UK   Q3       Balance of Payments 
                       Current Account (GBP)                   -23.3B     -20.3B 
0930  UK   Q3       Business investment revised results 
                       Business Invest, Q/Q%                              -0.7% 
                       Business Invest, Y/Y%                              -0.2% 
                       Business Invest, Q/Q% 
                       Business Invest, Y/Y% 
0930  UK   Q3       UK quarterly national accounts 
                       GDP, Q/Q%                               +0.6%      +0.4% 
                       GDP, Y/Y%                               +1.5%      +1.2% 
0930  UK   Q3       Bank of England statistics on UK banks' external claims 
0930  UK   Nov      Public sector finances 
                       PSNB ex (GBP)                           7.8B       8.8B 
                       PSNB ex, Yr Ago (GBP)                              7.2B 
                       PSNCR (GBP)                                        -4.0B 
                       PSNCR ex Yr Ago (GBP)                              -1.6B 
1000  ITA  Nov      Foreign Trade non-EU 
1200  UK   Q4       Bank of England Quarterly Bulletin 
1330  US   Q3       3rd estimate GDP 
                       Annual Rate, Q/Q%                       +3.5%      +3.5% 
                       Chain-Weighted Price Idx, Q/Q%          +1.7%      +1.7% 
                       Corporate Profits, Q/Q%                            +0.7% 
                       PCE Price Idx, Q/Q%                                +1.5% 
                       Purchase Price Idx, Q/Q%                           +1.7% 
                       Real Final Sales, Q/Q%                             +1.2% 
                       Core PCE Price Idx, Ex Food/Energy,                +1.5% 
                       Q/Q% 
                       Personal Consumption, Q/Q%                         +3.6% 
1330  US   Nov      Advance Report on Durable Goods 
                       Durable Goods-SA, M/M%                  +1.3%      -4.4% 
                       Dur Goods, Ex-Defense, M/M%                        -1.2% 
                       Dur Goods, Ex-Transport, M/M%                      +0.1% 
                       Orders: Cap Gds, Non-Def, Ex-Air, M/M%             +0.0% 
                       Shipmnts: Cap Gds, Non-Def, Ex-Air,                +0.3% 
                       M/M% 
1330  US   Q3       Revised Corporate Profits 
1330  CAN  Oct      Retail trade 
                       Total Retail Sales, M/M%                           +0.2% 
                       Retail Sales Ex-Autos, M/M%                        +0.1% 
1330  CAN  Oct      GDP 
                       GDP, M/M%                                          -0.1% 
                       Qtrly Annualized % Chg 
                       Imports, Q/Q% 
                       Exports, Q/Q% 
                       Business Inventories (CAD) 
                       Domestic Demand, Q/Q% 
1500  US   Nov      Regional & State Employment & Unemployment 
1500  US   Dec      University of Michigan Survey of Consumers - final 
                       End-Mo Sentiment Idx                    97.0       97.5 
                       End-Mo Expectations Idx                            88.1 
                       12-Month Inflation Forecast                        2.8% 
                       5-Year Inflation Forecast                          2.6% 
                       End-Mo Current Idx                                 112.3 
1500  US   Nov      Personal Income & Outlays 
                       Personal Income, M/M%                   +0.3%      +0.5% 
                       Consumer Spending, M/M%                 +0.4%      +0.6% 
                       PCE Price Idx, M/M%                                +0.2% 
                       PCE Price Idx, Y/Y%                                +2.0% 
                       PCE Core Price Idx, M/M%                +0.2%      +0.1% 
                       PCE Core Price Idx, Y/Y%                +1.9%      +1.8% 
1500  CAN           Bank of Canada Business Outlook Survey 
1500  EU   Dec      FCCI Flash Consumer Confidence Indicator 
                       Consumer Conf Idx                       -4.2       -3.9 
1600  US   Dec      Federal Reserve Bank of Kansas City Survey of Tenth District 
                    Manufacturing 
                       Mfg Activity Idx                                   24 
                       6-Mo Exp Prod Idx                                  27 
                       Mfg Composite Idx                       12         15 
                       6-Mo Exp Composite Idx                             16 
N/A   JPN  Oct      Final Labour Survey - Earnings, Employment & Hours Worked 

(MORE TO FOLLOW) Dow Jones Newswires

December 18, 2018 01:55 ET (06:55 GMT)

20:0418-12-2018
Update: Italy Reaches Budget Agreement With European Union: Reports -- MarketWatch

Italy's government has reached an accord with the European Union regarding its controversial budget proposal for 2019, which may avert a clash with officials of Europe's trade bloc, according to reports. Rome's draft budget proposal earlier this year drew a swift rebuke from Brussels because it would have resulted in a budget deficit of 2.4% of gross domestic product, running afoul of EU membership rules. This led to the EU launching a so-called "excessive deficit procedure" against Italy in November, and caused investors to fret about the health of the eurozone's third-largest economy and the stability of the EU more broadly.

-Anneken Tappe

 For more from MarketWatch: http://www.marketwatch.com/newsviewer 

(END) Dow Jones Newswires

December 18, 2018 14:04 ET (19:04 GMT)

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