REAL ESTATE: DIGITAL REALTY (DLR: Baa2/BBB/BBB): Q4 & FY24
Feb-14 07:17
Guidance was below expectations
- FY Op Revenue $5.55bn +1.4% yoy; Q4 $1.43BN +4.8% yoy
- Q4 Adj EBITDA $751m +7% yoy
- NetDebt/Adj EBITDA 4.8x; ICR 4.2x
- Guiding for 2025 Total Revenue $5.8-$5.9bn vs $6.11bn expected
- 2025 Adj EBITDA $3.1-$3.2bn vs $3.17bn expected
- Next 2 Maturities are EUR - July 25 & Jan 26; issued €850m 10yr in Jan
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UK DATA: Volatile categories contribute to the negative surprise in UK CPI
Jan-15 07:15
Looking through the details here we have services notably softer than expected at 4.37%Y/Y. Core goods and food/alcohol a little higher than expected (so less of a surprise in core / headline).
- Air fares are soft. Only rising 16.2%M/M in December - the expectations we had seen for that were around 40-45%M/M (remember this is NSA data). They alone contributed to headline CPI falling 0.14ppt and around double that for services CPI.
- Accommodation services also soft - contributing -0.07ppt to headline CPI.
- Cultural services -0.04ppt contribution.
- Other than that clothing and tobacco (both expected to contribute negatively).
- At first glance this doesn't look very broad-based at all and is largely the most volatile components contributing almost entirely to the downside in services / core / headline CPI.
- GBPUSD hit a low of 1.2163 but is around 20 pips higher at the time of writing.
MNI: UK DEC CPI +0.3% M/M, +2.5% Y/Y
Jan-15 07:07
- MNI: UK DEC CPI +0.3% M/M, +2.5% Y/Y
EURJPY TECHS: Monitoring Support
Jan-15 07:05
- RES 4: 165.43 High Nov 8
- RES 3: 164.90 THigh Dec 30 and a key short-term resistance
- RES 2: 164.55 High Jan 7
- RES 1: 163.19 High Jan 10
- PRICE: 161.89 @ 07:04 GMT Jan 15
- SUP 1: 160.04 Low Jan 13
- SUP 2: 160.54 50.0% retracement of the Dec 3 - 30 bull cycle
- SUP 3: 159.51 61.8% retracement of the Dec 3 - 30 bull cycle
- SUP 4: 158.67 Low Dec 11
The recent move down in EURJPY appears corrective. The recovery from Monday’s low highlights a potential short-term reversal and the end of the corrective cycle. A continuation higher would open 164.90, the Dec 30 high. Clearance of 164.90 would confirm a resumption of the uptrend. On the downside, key short-term support has been defined at 160.04, the Jan 13 low. A breach of this level would be a bearish development.
