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Daily Market Update - 22/08/2017

US: S&P closed +0.12%, +0.08% from the London close, on volumes -15% vs the 30 day average. U.S. equities chopped higher after an early-morning selloff reminiscent of recent market weakness. Active futures opened close to unchanged but sold off 10 points within the first 30 minutes, recuperating those losses by noon. The afternoon session was comparatively range-bound, with futures hovering in a 2422-2427 range to finish tiny higher on the session. SPX +0.12%, RTY -0.07%, NDX -0.08%. Other asset classes slumbered; the 10y yield compressed 1bp to 2.18%, and the dollar index depreciated 37bps to 93.09. Real Estate, Telcos and Health Care the best performing sectors. Energy the greatest laggard, followed by Financials and Tech.
Qatari banks are facing funding pressure as foreign customers worried about Doha’s intensifying spat with its Arab neighbours withdraw deposits.
Mnuchin, US Treasury Secretary aims to raise Debt Limit, Tax companies on their US Income.
EU-Insists on orderly Brexit as UK battles for upper hand.
FORD-Offers UK drivers £4k-£7k to scrap diesel cars & vans.
Swiss watch exports for July at + 3.6%
BHP Billiton is in talks with potential buyers of its U.S. shale assets - acquired in a contentious $20 billion deals spree in 2011 - and will delay a move into potash after months of public skirmishes with activist investors led by Paul Singer’s Elliott Management Corp.
The $1.45 billion Quantedge Global Fund gained 21% this year, ranking it as the top performer in its category as similar strategies have posted losses. The fund, which uses quantitative models to bet on global macro themes, added 6.8% in July, helped by bets on commodities, equities and currencies. 
Autonomous Research ( UK specialist financial house) is offering a pay-as-you-go model for its European equity product in the run-up to the MiFID II rules. The London-based firm’s prices start at $1,000 for a single stock report and climb to $5,000 for high-end industry research, also charges a single user $5,000 for access to its daily round-up of news and analysis, with the price per client falling as more sign up, the people said.
Kenmare Resources - Strong H1 - Rev $102m (+82% yoy), with sales vols +21%, prices +50%
Hostelworld - H1 in line, reiterates FY outlook
Provident Financial, UK consumer finance provider falls 45% after numbers, dividend scrapped and CEO resigns.
ASIA – thin day of trading across APAC. HK is outperforming on strong corporate earnings
Markets better early on, Europe trades + 60 BPs