Weekly Update
Dow -0.27% S&P +0.54% Nasdaq +1.19% Russell +0.49% Mexico +0.79% Brazil -1.15% (-0.01%in $) Nikkei +0.00% (+1.26% in $) Hang Seng +1.20% CSI +0.69% EuroStoxx -2.11% (-0.43% in $) FTSE+1.01% CAC -2.25% (-0.57 in $) Dax -3.10% Ibex -2.14% MIB -1.35% SMI -1.06% (+0.80% in $)
US equities tested all-time highs yet again this week, with the Nasdaq notching a 10-session winning streak, its longest since Feb 2015. Policy comments from ECB President Draghi and subsequent reports of an ECB tapering decision coming in October sent European bourses lower on the week for the first time since June, while the euro strengthened to its best levels since 2015. Draghi noted that ahead of decisions on QE in the autumn, underlying inflation remains subdued, and this was confirmed by tepid June CPI data. The Trump administration's effort on healthcare went on life support, as his own party's senators balked at GOP repeal plans, while Special Counsel Mueller's Russia investigation widened to Trump's finances and inner circle. The week ended with a shakeup in the White House communications team ahead of the Senate Intelligence Committee hearing testimony next week from key advisors and Donald Trump Jr. The dollar index hit more than a 1-year low, and crude weakened ahead of an OPEC/non-OPEC compliance meeting on Monday. The Shanghai Composite Index finished with a weekly gain of 0.5% as China Q2 GDP growth topped forecasts on strong investment. The S&P500 gained 0.5% and the Nasdaq was up 1.2%, while the DJIA fell 0.3%, weighed on by weak earnings reports from GE and IBM.
Macro :
- China’s Steel Body Wants Beijing to Be Tougher With Trump: SCMP
- Ireland to Hire Custodian to Manage Cash From Apple Tax Case
- Schaeuble Says Portugal Has Made Impressive Progress: Expresso
- VIX Options Volume Spikes on 3-Way Trade
- U.K. Urges Saudi-Led Bloc to Lift Qatar Blockade After Pledges
- Qatar, U.S. Said to Sign Deal to Combat Terror Financing: Rtrs
Keep an eye on :
- ABE SM : ACS Is Said to Hold Talks With Investors for Abertis Counterbid
- ABI BB : AB InBev Plans $250 Million Nigeria Expansion: City Press
- ACS SM : ACS Is Said to Hold Talks With Investors for Abertis Counterbid
- AZA IM : Four Possible Buyers Seek to Keep Alitalia Together: Messaggero
- ASSAB SS : Assa Abloy CEO May Be Potential Ericsson CEO Candidate: DI
- AV/ LN :
- BAYN GY : Bayer Mesothelioma Treatment Misses Main Goal in Phase 2 Study
- BG/ LN : Bunge Takeout Price Likely in $91-$98/Share Range, UFP Says
- WIN GY : Diebold Nixdorf Dragged Down by Peer’s Disappointing 3Q Forecast
- DB1 GY : Deutsche Boerse Must Pay Kengeter Case Fine by End of Aug.:FAS
- GTO NA : Gemalto First Half Operating Profit EU93 Mln
- GIVN VX : Givaudan CEO Expects to Stick With Dividend Policy: FuW
- IMG LN : Canyon Bridge Is Said to Be in Talks for Imagination: Telegraph
- ITX SM : Inditex Founder’s Property Co. Posts 2016 Profit Drop: Expansion
- CHOO LN : Jimmy Choo receives bids from Inter Parfums, Hony Capital and CVC
- MKTX US : MarketAxess Picks Amsterdam as EU Base Post-Brexit, CEO Tells FT
- NESN VX : Ferrara Is Said to Eye Nestle’s Candy Business: Reuters
- ONC US : Berkshire Will Quit Oncor Deal if Approval Delayed, Lawyer Says
- PAH3 GY : Porsche Works Council Head Says Feels ’Cheated’ by Audi: Bild
- SAP GY : SAP Director Cautions Against Split on Industrial Internet: HB
- SEBA SS : SEB CEO Wants Higher Interest Rates to Curb Household Debt: DI
- SIE GY : Siemens Healthineers to Buy Epocal From Alere to Complete Blood
- WAF GY : Semiconductor Pricing Power Returns, Siltronic CEO Tells Welt
- GLE FP : SocGen Fined in France Over Laundering, Terror-Funding Controls
- TIT IM : Telecom Italia Says Directors to Meet Monday on CEO Termination
- TIT IM : Telecom Italia eyed by couple of private equity firms
- TSCO LN : Tesco Supplier Bakkavor Is Said to Mull GBP1B Listing: Telegraph
- TransferWise : TransferWise Said to Be Near Raising $100M in New Capital: Sky
- TKA GY : ThyssenKrupp Could Get EU3.1 Bln Book Gain From Steel Merger: BZ
- VOW3 GY : Volkswagen’s Mueller Calls on Govt to Reject Diesel Ban: RP
- WPG LN : Worldpay Is Said to Mull Keeping Listing in London: S. Times