Weekly Performance
Dow +0.28% S&P+0.06% Nasdaq-0.34% Russell+0.32% EuroStoxx-0.21% Cac -0.40% Dax -0.01% Ibex -0.28% MIB+0.13% FTSE -0.29% Nikkei-0.26% Hang Seng +0.07% shanghai+2.85%
Hopes for a final Greece deal rose and then slid back again this week, talking equities, FX and bonds along for the ride. The feeling that a deal was imminent plus solid advanced retail sales and job openings data in the US generated positive sentiment for most of the week. But hopes for a Greek deal were dashed on Thursday as the two sides couldn't overcome the final political roadblocks and negotiators left Brussels to regroup. Chinese stocks continued to run up, walking the Goldie Locks path between good-enough data and hopes for more stimulus efforts. Central banks in South Korea and New Zealand threw more logs on the fire with fresh rate cuts. Bonds remained volatile all week, with most benchmark government bond yields surging to YTD highs on Wednesday. For the week, the DJIA added 0.3%, the S&P500 edged up 0.1%, and the Nasdaq fell 0.3%.
Macro :
- EU Says Greece Talks End With No Deal, ‘Significant Gaps’: AFP
- Gross Suggests China Short; Cohen Likes GM: Barron’s Roundtable
- S&P warns of UK downgrade amid ‘Brexit’ fears - FT http://on.ft.com/1JMieOi
- Eurozone Raises Specter of Default as Pressure Mounts in Greek Bailout Tal - WSJ http://on.wsj.com/1cSIZC2
- Tsipras seeks debt relief as Greeks take offer to Brussels - Reuters http://reut.rs/1L5HkVC
- London Fund Managers May Leave If Britain Exits EU: Times http://thetim.es/1HFpYjl
- Greece Can't Stay in Eurozone at All Costs, Says BDI President http://bit.ly/1TkZ7xu
- Former Greek Rep to IMF Panaritis Says Country ‘Close to a Deal’
- U.K. Watchdog Won’t Propose Break Up of Big Six Energy Cos: Mail
Keep an eye on :
- AFR LN : Afren: Thomas Named COO, Comyn to Resign as Finance Director
- AIR FP : Boeing Said Near Deal to Sell 100 737 Max to AerCap: Reuters
- AIR FP : Airbus Seeks Multi-Million-Pound British Taxpayer Loan: Times
- AAL LN : Anglo American Mulls Leaving London HQ in Bid to Cut Cost: Times
- AVV LN : Aveva Working With Lazard to Evaluate Takeover Options: Times
- AV/ LN : Aviva Starts Sale of GBP2.5 Billion of Property Loans: Times
- CS FP : AXA CEO Sees Risks in Both Asia and Europe, FuW Reports
- BMW GY : BMW Made 2.2 Million Cars Susceptible to Hacking, Spiegel Says
- ACA FP : Credit Agricole Won’t Exit Switzerland, Hocher Tells Le Temps
- DAI GY : Daimler Produced 40,000 Vans That Need New Airbags: NHTSA
- AM FP : Dassault CEO ’Convinced’ 4th Rafale Contract Coming This Yr: FT
- DFT GY : Deutsche Forfait: Up to 6.8m Shrs to Be Issued, Price EU1.30
- FGR FP : Eiffage Employee Group Dissolves, Distributes Shrs to Holders
- ERICB SS : Ericsson CEO does not rule out M&A - Helsingin Sanomat
- FCA IM : Fiat Chrysler Unions Urge Meeting With Co. on M&A Plan
- FM CN / FQM LN : First Quantum Minerals a takeover candidate - Ottawa Citizen
- GKP LN : Ex-U.K. Defense Chief Guthrie to Quit Gulf Keystone Board: Sky
- HEN3 GY : Henkel Doesn’t Need Deals to Meet Growth Goals, CEO Tells Welt
- LHA GY : Lufthansa to Monetize Passenger Data to Boost Valuation: FAS
- MEO GY : Metro Said to Prefer Kaufhof Sale to Hudson’s Bay: Der Spiegel
- NKE US : U.S. Probes Nike Payments Under Brazil Deal - WSJ http://on.wsj.com/1IRxusW
- NOVN VX : Novartis Blood-Cancer Drug Achieves Disease Control in Majority
- REE SM : Red Electrica to Name Lasala CEO; Folgado to Remain Chairman
- SIK VX : Sika’s Haelg Calls Zug Court Ruling ‘Milestone:’ SonntagsZeitung
- SoundClound IPO : SoundCloud Owner German Startups Group Preparing IPO: FAS
- STL NO : Statoil to Start More Cost Cutting Measures in Autumn: Aftenblad
- UBER IPO : Uber Hires Former French Government Advisor, AFP Reports
- UBSN VX : UBS to Invest Hundreds of Millions More in Restructuring: SZ
- UBSN VX : UBS Reports Successful Implementation of UBS Switzerland AG
- VOW3 GY : Volkswagen Group January-May Sales Reach 4.2 Million Units