News Headline Summary

RANsquawk - Today's Trading Edge

TIME: 1806GMT
NEWS: The Street Insider reports that Plug (PLUG) may be about to announce a deal with Volkswagen imminently
REACTION: In an immediate reaction PLUG shares rose 4.1% from USD 5.65 to USD 5.88

TIME: 1753GMT
NEWS: Celgene (CELG) wins FDA approval for OTEZLA to treat Psoriatic Arthritis
REACTION: In an immediate reaction, CELG shares rose 1.4% from USD 146.97 to USD 149.00

TIME: 0659GMT
NEWS: Russian foreign ministry are to respond to sanctions with retaliatory measures. Analysts immediately added that the US President Obama unveiled sanctions against Russia yesterday, specifically targeting high net worth individuals, but left the door open to potential trade and economic sanctions. Analysts explained throughout the morning that palladium (Russia holds >40% of the global market) and Brent crude futures have high exposure to Russia
REACTION: Commodities sensitive to Russia remained supported for the entirety of the session, with spot palladium prices rising throughout the morning and hitting 2014 highs at USD 799.00 as of 1316GMT, a gain of 3.5% from USD 772.11 at the point of coverage. Brent crude futures also rose, adding USD 0.63 from USD 106.41 at the point of coverage to USD 107.04, the European morning high

TIME: 0045GMT
NEWS: RANsquawk’s Twitter scanner immediately picked up the tweet “#ChinaBanks ‘ICBC CCB stop or halt Trust consignment sales to third parties’” and the headline was immediately posted on the website, but was not covered by major newswires for a full 43 minutes after initially being squawked. Our analysts identified that there have been worries that trust defaults could pose a systemic risk to the Chinese financial system
REACTION: This was the key stories noted overnight, which market commentators said was responsible for the Shanghai closing up 2.72%, the largest one day gain in 2014

21 Mar 2014 - 20:35 - Energy Geopolitical - Source: RANsquawk

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