Weekly Performance
Dow +0.31% S&P -0.30% Nasdaq -1.55% Russell +1.16% Mexico -0.48% (+2.31% in $) BRazil -0.48% (-2.02% in $) Nikkei -0.81% Hang Seng +0.30% CSI+2.57& Shanghai +1.70% EuroStoxx -0.16% (-0.94% in $) FTSE -0.27% (-1.41% in $) CAC-0.82% Dax +1.19% Ibex +0.66% MIB +0.93% SMI -1.98%
US stock markets digested a host of headline risk late in the week, with the Dow remaining at lofty levels while the Nasdaq sold off into Friday afternoon. Geopolitics largely ruled the roost, with terrorist attacks in London and Tehran, a Saudi rift with Qatar, former FBI Director Comey's testimony, and a surprise result in the UK election all registering on traders' radar screens. The ECB boosted its economic growth outlook for the Eurozone midweek, but kept interest rates on hold, though Mario Draghi said the ECB would continue its bond-buying program and will remain in the market for 'a long time.' The EUR/USD fell below 1.1200 on Thursday to hit its lowest point in June, and later that evening the pound weakened sharply when it became clear the UK election would result in a hung parliament. Crude was down ~3% on the week, hurt by US inventory builds, despite diplomatic turmoil between the Gulf states. Treasury yields lifted marginally and gold pared back its recent gains as safe haven assets came under pressure.Stocks were mostly higher, but large cap tech sold off on heavy volume on Friday, with profit-taking apparently triggered by a short seller note on Nvidia. The late drop in stocks lifted the VIX volatility index off of a two-decade low.For the week, the DJIA gained 0.3%, while the S&P slipped 0.3% and the Nasdaq lost 1.6%.
Macro :
- ETF That Focuses on Europe Ex-U.K. Starts Trading Monday
- Qatar Denounces Saudi-led Bloc’s Terror List, QNA says
- May Limits Cabinet Changes as Chaos Hangs Over Bid to Cling On
- Macron Set for Majority in Assembly After First Round of Voting
Keep an eye on :
- AB1 GY : Air Berlin Purchased Tickets ’Safe,’ COO Tells Rheinische Post
- AIR FP : Airbus Making Preparations for Future Combat Jet: Handelsblatt
- AF FP : Air France, Deutsche in Derivatives Contract on Amadeus Shares
- AKZA NA : Elliott Advisors has increased its stake in Akzo to over 5% (from 3.25%) - Dutch filing - Spokesperson for Elliott declined to comment on the reason for the stake increase - press
- AMS SM : Air France, Deutsche in Derivatives Contract on Amadeus Shares
- AMZN US : Amazon Plans to Sell Cars in Europe, Automobilwoche Reports
- BONE SUPORT IPO : Bonesupport Plans to Raise as Much as SEK575m in Stockholm IPO
- BP/ LN : BP, Sirius Petroleum Said In Talks On Nigeria Oil Deal: S. Times
- CALT IM : Caltagirone Family Plans Buyout Offer, Milan Delisting
- CRG IM : Carige Chairman Expects New CEO Appointment Soon: Il Sole
- DBK GY : Deutsche Bank Wealth Management Said Hiring 100 Managers: FT
- ENI IM : Eni Not Planning to Sell Chemical or Retail Divisions, CEO Says
- EVK GY : M&A to Stay Part of Evonik Strategy, CEO Kullmann Tells FAZ
- IAG LN : British Airways Cabin Crew Suspends Strike to Allow Talks: PA
- GLEN LN : Glencore Seeking Rio’s Coal & Allied Stake for $2.55 Billion
- MAC LAREN IPO : McLaren Automotive May Seek IPO by 2022, Sunday Times Says
- MS IM : Mediaset Won’t Make Offer for 2018-2021 Serie A Soccer TV Rights
- NOVN VX : Novartis Treatment Granted Orphan Drug Status by FDA
- NOVOB DC : Novo Nordisk Says Tresiba Cuts Blood Glucose Levels
- ORA FP : Orange Excludes Taking Stake in Canal Plus for the Moment: JDD
- PHA3 GY : Porsche Says Emission-Tests Results Are Within Legal Limits
- RIO LN : Glencore Seeking Rio’s Coal & Allied Stake for $2.55 Billion
- ROG VX : Roche ’Confident’ of Reaching Targets in 2017, CEO Tells SoZ
- SAF FP : Safran to Drop Zodiac Deal If Share Issue Rejected: Investir
- SCVB SS : Dutch Defense Ministry Buys About 2,000 Scania Trucks: Telegraaf
- STL NO : Statoil Says Cap-X Injunction May Cost It More Than NOK700m: DN
- UBI IM : UBI Names Banca IMI, Santander, Mediobanca as Underwriters
- UBSN VX : UBS’s Weber Doesn’t See Broad-Based Deregulation in U.S.: Welt
- VOW3 GY : VW Is Considering Rehiring Opel’s Neumann, Reuters Reports, VW’s Osterloh Says Firing of Audi’s Stadler ‘Not Planned’: Bild
- VIV FP : Orange Excludes Taking Stake in Canal Plus for the Moment: JDD
- VOW3 GY : VW’s Ducati Targets 2018 Motorcycle Sales of 60,000: Corriere
- YNAP IM : U.K. Online Retailer Farfetch Said to Seek N.Y. Listing: Sky
- ZC FP : Safran to Drop Zodiac Deal If Share Issue Rejected: Investir