Weekly Performance
Dow -1.06% S&P -1.19% Nasdaq -1.92% Russell -1.65% Brazil +0.23% Nikkei -6.03% Hang Seng -4.15% CSI -1.69% Shanghai -1.44% EuroStoxx-2.13% FTSE -1.55% CAC -2.62% Dax -2.07% Ibex -1.51% MIB -1.15% SMI -2.64%
Brexit fever gripped global markets this week, as uncertainty about the June 23rd referendum on the UK's continued membership in the European Union inspired a big rotation into safer sovereign paper. Four major central banks - US Federal Reserve, the Bank of Japan, the Bank of England and the Swiss National Bank - left policy unchanged at meetings this week, however their most impactful moves appeared to be jawboning about Brexit, largely via warnings about the chaos that would follow the UK seceding from the EU. Meanwhile, the US presidential campaign and the nation at large was rocked by the worst mass shooting incident in US history at an Orlando, Florida gay nightclub a lone-wolf terrorist, with a death toll of over four dozen people. Brexit fears eased temporarily in the latter half of the week after another shooting death: the murder of a British MP by a nationalistic extremist led to a three-day suspension in campaigning on the referendum and delayed the release of new polls. Sovereign bond yields see-sawed through the week, with European benchmark paper dipping into and then out of negative territory, while the 10-year UST yield tested three-and-a-half year lows below 1.60%. Gold hit its highest mark since August 2014 and then pulled back on Friday. Stocks mostly trended lower, and for the week the DJIA lost 1.1%, the S&P500 dipped 1.2%, and the Nasdaq fell 1.9%.
Macro :
- ECB Ready to Act on Brexit, Italy’s Visco Says in Repubblica
- UK Phone Poll on EU Shows About 7 Pt Lead for Remain: BMG/Herald
- IMF Says Brexit Could Push U.K. Economy Into a Recession - http://bit.ly/28MvbSM
- Egypt May Refrain From Devaluing After Rate Increase: EFG-Hermes
Keep an eye on :
- ADS GY : Mentioned +vely in Barrons :
- BAYN GY : Bayer Said to Explore Sale of Radiology Business: Reuters
- BLOH GY : Blohm & Voss Shipyard Close to Winning Luxury Yacht Deal: WamS
- BT/A LN : BT Pension Deficit Widened to GBP9.9b in June 2015: FT
- CSGN VX : Credit Suisse Puts Five on Leave Amid Internal Investigation
- EDF FP : EDF Managers Tell U.K. Panel Plant Should Be Delayed: Guardian
- ENEL IM : Enel Green Power and F2i bid for First Reserve Italian solar energy assets - Il Sole 24 Ore
- ENST LN : Essentra shares gain on talk of takeover interest - Daily Mail
- ERICB SS : Ericsson Workers Summoned in Greek Probe Into Contract From 1999
- IT IM : FTC Requires HeidelbergCement, Italcementi to Sell U.S. Assets
- LSE LN : Brexit May Derail LSE, Deutsche Boerse Merger, WSJ Says - http://on.wsj.com/1Y2pYTy
- NMG US : Neiman Marcus is looking for a buyer (Chinese) - NY Post - http://nyp.st/1UFX6JQ
- POP SM : Popular Chairman Says Bank Isn’t Seeking a Merger: Economista
- RCS IM : Cairo Communications improves public offer for RCS by 33%, from 0.12 to 0.16
- RCS IM : Cairo Could Partner With Sovereign Fund in RCS Bid: Sole
- SGL GY : SGL Carbon's graphite electrodes business draws Vekselberg interest
- GLE FP : Socgen ‘Surprised’ by Prosecutors’ Position at Kerviel Trial
- FP FP : CFDT Union Says Vessel Loadings Resume at Fos-Lavera Terminal
- UBI FP : Ubisoft Stake Held by Vivendi at 20.1%: AMF
- VALE US : Vale Said in Talks With Asia Buyers for Stake in Brazil Iron Ore
- VIV FP : Vivendi Says It Isn’t Planning Public Offer for Ubisoft
- VOW3 GY : Volkswagen to Cut More Than 40 Model Variants: Handelsblatt