COMMUNICATIONS: Equity Move Headlines
”*NESTE DROPS 12% AFTER 4Q PROFIT MISS, PERFORMANCE PROGRAM
*TELECOM ITALIA GAINS 3.1%, PLANS TO RETURN CASH TO SHAREHOLDERS” -BBG
“*Swisscom Shares Fall 2.7% After 2024 Results”- DJ
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
EU-BOND SYNDICATION: New 3-year / 30-year tap: Books open
New 3-year:
- Tranche Size: E5bln (MNI expected E5-7bln)
- Maturity: 4 July 2028
- Short first coupon | 108 days accrued
- Guidance: MS + 19 bps area
- ISIN: EU000A4D5QM6
3.375% Oct-54 Tap:
- Tranche Size: E5bln (MNI expected E4-6bln)
- Guidance: MS + 130 bps area
- ISIN: EU000A3K4EY2 (Immediately fungible)
For both:
- Settlement: 21 January 2025 (T+5)
- JLMs: Barclays, BNP Paribas, J.P. Morgan (B&D/DM), LBBW, NatWest Markets
- Timing: Books open, today’s business
Note that the sizes are not WNG yet, so could increase on strong demand
AUDUSD TECHS: MA Studies Highlight A Clear Downtrend
- RES 4: 0.6429 High Dec 12
- RES 3: 0.6384 High Dec 13
- RES 2: 0.6358 50-day EMA
- RES 1: 0.6240/0.6302 20-day EMA / High Jan 6
- PRICE: 0.6197 @ 08:00 GMT Jan 14
- SUP 1: 0.6131 Low Jan 13
- SUP 3: 0.6100 Round number support
- SUP 3: 0.6045 1.500 proj of the Sep 30 - Nov 6 - 7 price swing
- SUP 4: 0.5994 1.618proj of the Sep 30 - Nov 6 - 7 price swing
A bearish trend condition in AUDUSD remains intact and last Friday’s sell-off plus Monday’s trend low, reinforces this theme. The pair has breached support at 0.6179, the Dec 31 low, maintaining the price sequence of lower lows and lower highs. Note that MA studies are in a bear-mode position too. Scope is seen for an extension towards the 0.6100 handle next. Initial firm resistance to monitor is 0.6240, 20-day EMA. The 50-day EMA is at 0.6358.
GILTS: Opening calls
Gilt calls, 89.54/89.56.
