On Monday, Shares of Credit Suisse Group AG (ADR) (NYSE:CS), lost -2.16% to $26.27.
Commodity performance in August was relatively flat and largely driven by macroeconomic headlines, according to Credit Suisse Asset Management.
The Bloomberg Commodity Index Total Return performance was negative for the month, with 17 out of 22 Index constituents trading lower.
Credit Suisse Asset Administration observed the following:
- Agriculture was the worst performing sector, down 3.85%, as raised concerns over economic growth in China, the largest importer of Soybeans, weighed on demand expectations. In addition, favorable weather in the U.S. Midwest continued to improve crop conditions, raising production estimates for both Corn and Soybeans. Soybean Oil and Soybeans reduced after the U.S. Department of Agriculture (“USDA”) projected larger-than-predictable production levels for the 2015/2016 season.
- Industrial Metals reduced 2.80%, with all constituents posting negative returns, as continued weakness in Chinese manufacturing data lowered the demand outlook for the world’s biggest consumer of base metals. Nickel declined the most amid raised concerns over the Chinese government’s ability to reverse their economic slowdown.
- Energy raised 0.75%, led by Heating Oil, due to continued strong demand for petroleum products. In addition, WTI Crude Oil and Brent Crude Oil raised into month-end, after initially falling significantly, as macro-risk pressures eased. Crude oil output for the first half of 2015 was revised lower after the U.S. Energy Information Administration (“EIA”) altered its methodology for assessing production.
- Livestock ended the month 1.13% higher, led by Lean Hogs, amid rising expectations that China would improvement imports of U.S. pork to assist offset domestic low production due to its smaller inventory of hogs.
- Precious Metals was the best performing sector, up 2.16%, as safe haven demand raised when global growth expectations were lowered due to China’s slowdown, which also weighed on global equity markets. Gold was higher amid reduced expectations of an interest rate improvement at the U.S. Federal Reserve’s September meeting.
Credit Suisse Group AG, together with its auxiliaries, provides various financial services to private, corporate, institutional, government clients, and high-net-worth individuals, in addition to affluent and retail clients worldwide.
Shares of Douglas Emmett, Inc. (NYSE:DEI), declined -0.41% to $28.93, during its last trading session.
Douglas Emmett, declared that its Board of Directors has declared a quarterly cash dividend on each share of its common stock of $0.21, or $0.84 on an annualized basis. The dividend will be paid on October 15, 2015 to shareholders of record as of September 30, 2015.
Douglas Emmett, Inc., a real estate investment trust, owns and operates office and multifamily properties in California and Hawaii. As of December 31, 2007, the company’s office portfolio comprised of 48 properties and multifamily portfolio comprised of 9 properties.
At the end of Monday’s trade, Shares of Ecolab Inc. (NYSE:ECL), lost -0.97% to $108.92.
Ecolab Inc. Chairman and Chief Executive Officer Douglas M. Baker, Jr., will address financial analysts at the Credit Suisse Basic Materials Conference on Wednesday, September 16 in New York. Ecolab will host a live webcast of Mr. Baker’s presentation.
Ecolab Inc. provides water, hygiene, and energy technologies and services for customers worldwide. The company operates in four segments: Global Industrial, Global Institutional, Global Energy, and Other.
Finally, Platform Specialty Products Corp (NYSE:PAH), ended its last trade with -0.23% loss, and closed at $17.16.
Platform Specialty Products Corporation, declared that it had received antitrust clearance from the Federal Cartel Office in Germany in connection with its formerly-declared recommended offer to acquire all of the issued and outstanding shares of Alent plc in a cash and stock transaction for about $2.1 billion by way of a court-sanctioned scheme of arrangement under the U.K. Companies Act 2006.
The Alent Acquisition remains subject to the sanction of the U.K. court and certain other closing conditions and approvals set forth in the Scheme, counting, among others, regulatory approvals in certain other foreign jurisdictions. As of recently, in addition to the approval in Germany, Platform has received notice of the early termination of the antitrust waiting period under the U.S. Hart-Scott Rodino Antitrust Improvements Act and approval from the South Korean regulatory authorities. The Alent Acquisition is predictable to close in late 2015 or early 2016. Following closing of the Alent Acquisition, Platform will remain a New York Stock Exchange listed company domiciled in the United States.
Platform Specialty Products Corporation produces and sells specialty chemical products in the Americas, Asia, and Europe. The company’s Performance Materials segment manufactures and markets plating products that are used to plate holes; final finishes, which are used on printed circuit boards; circuit formation products to promote adhesion and form circuit patterns; oxides that are used in the fabrication of multilayer circuit boards; and pre-treatment and cleaning solutions.
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