Weekly Update
Dow+2.13% S&P+2.28% Nasdaq+3.44% Russell+3.43% Nikkei+0.59% Hang Seng +3.65% CSI -0.51% Shanghai -0.16% EuroStoxx+3.93% FTSE+1.86% CAC+3.69% Dax+3.73% Ibex +3.83% MIB+2.10% SMI+3.69%
The S&P500 notched its second consecutive week of gains neared the key 2100 area, where broader equity rallies have stalled again and again over the last 15 months. Most global equity markets in Europe and Asia also saw modest gains. While equities ground higher, crude prices briefly tested above $50 for the first time since last fall. May corporate bond issuance continued on at a historic pace while US Treasury supply found buyers eager to take advantage the recent declines in prices. The Fed campaign to redirect the markets' interest rate policy expectations was capped by remarks from Chair Yellen on Friday. The G7 produced another tepid statement and plenty of hot rumors of conflict between the US and Japan on clashing visions of how to cope with the global economic slowdown. The Europeans reached yet another deal to keep Greece afloat on borrowed money, while in the UK polling numbers suggested the "remain" camp was gaining ground with only a month to go to the referendum. With some of those global risks starting to fade, equities rebounded and for the week the DJIA gained 2.1%, the S&P500 added 2.3%, and the Nasdaq rose 3.4%.
Macro :
- Bond Traders Say Don’t Count Out June Hike After Yellen Remarks
- Japan PM Abe planning to propose a ¥5-10T stimulus package during a special legislative session after the upper House elections in July - Nikkei - just two months into FY16, Abe will propose a supplementary budget of ¥5-10T
- Japan PM Abe said to delay the planned sales tax increase by 2.5 years to Oct 2019 - Nikkei citing govt official - Abe said to have expressed his intentions to senior LDP party officials on Saturday night.
Keep an eye on :
- AC FP : Considering sale of $1.1B European hotel portfolio, looking to sell hotel properties in London, Dublin, and Amsterdam that operate under Hilton's DoubleTree brand
- AIR FP : U.K. Poised to Pick Boeing for New Apache Helicopters: Telegraph
- AA US : Alcoa Says Venture Partner Seeking to Block Business Split
- AAPL US : Apple Mulls Adding Facial-Recognition Technology in Device: CNET
- BAYN GY : Bayer May Table Improved Monsanto Bid This Week: Sunday Times
- CRG IM : Carige Considers EU300m-to-EU400m Capital Increase: Repubblica
- CRG IM : Carige Says Report on Possible Capital Increase Is Groundless
- EDF FP : Hinkley Point C’s future threatened by continued union opposition - Guardian
- ENI IM : Eni says militants attacked the Agip trunk pipeline in the Niger Delta - however, it was not the Bonny Light Nembe 1,2 and 3 pipelines that the militants claimed they had attacked.
- GOOGL US : France’s Sapin Rules Out Google Tax Deal, Reuters Says
- SKB GY : Koenig & Bauer May Raise Capital for More Deals: Euro am Sonntag
- LIGHT NA : Philips Lighting's balance sheet allows for potential takeovers - Het Financieele Dagblad
- MKTO US : Microsoft Said Prepared to Bid for Marketo: StreetInsider
- PNL NA : BPost working on PostNL acquisition
- PNL NA : Bpost / PostNL: an expected announcement Monday - echo.be - http://bit.ly/1XGHkn7
- PUMA Energy : IPO : Trafigura’s Puma Energy Said to List GBP4b IPO, Sky Says
- RBS LN : RBS to Cut 450 Services Positions Across U.K., FT Reports
- RCS IM : Bonomi’s RCS Offer Deadline Suspended by Italian Regulator
- SCMN VX : Swisscom Chair Says State Co. Vote May ‘Poison’ Market Cap: T-A
- TSCO LN : Philip Day Makes Bid for Tesco’s Dobbies Unit: Sunday Times
- TWTR US : Alphabet Acquisition of Twitter ’Makes Sense’, Says Axiom
- UCG IM : UniCredit Outgoing CEO Rules Out Becoming Bank’s Chairman
- VIV FP : Subsidiary Universal Music Group acquires digital agency Fame House; no terms disclosed Acquired Fame House, an award-winning, innovative digital marketing agency whose clients include artists, brands and festivals including Eminem, Pearl Jam, Mitchell & Ness and Electric Zoo.
- VOW3 GY : VW Seeks 50% Electric-Car Market Share by 2030: Automobilwoche
- VOw3 GY : VW Paid Pischetsrieder EU50m for Post-CEO Work: Bild am Sonntag