Weekly Index Performance
Dow -0.90% S&P -0.69% Nasdaq -0.03% Russell +1.16% EuorStoxx-1.70% CAC-2.57% DAX-1.90% MIB-2.76% IBEX-1.39% FTSE -2.76% Nikkei -0.50% Hang Seng -0.60% Shanghai +8.92%
Choppy trading in stocks, bonds, and currency whipped the markets around this week. At his post rate-decision press conference, ECB President Draghi warned that people need to get used to heightened volatility, adding more instability to an already unpredictable market. Greece crept closer to the edge, as leaders in Athens held out from agreeing to their creditors' "final offer" and pushed back repayments of IMF debt until the end of June. The US May jobs data was very strong, keeping alive the prospect of a September Fed hike, rekindling jitters that higher rates are in sight. The Atlanta Fed raised its tracking estimate for Q2 GDP by three-tenths to 1.1% after the trade deficit narrowed to $40.9 billion in April from March's six-year high of $51.4 billion, a steeper decline than expected. More breathtaking volatility on the Shanghai Composite ended in a nearly 9% rally on the week after official PMI numbers missed expectations and sustained hopes for more PBoC easing. In the same timeframe, US stocks mostly lost ground: the DJIA slipped 0.9%, the S&P500 fell 0.7%, while the Nasdaq was flat on the week.
Macro :
- Greece Euro Exit Would Be ‘Worst Catastrophe’ for Greeks: Sapin
- Nouy Says ECB to Stress Test Banks in 2016: Welt am Sonntag
- ECB’s Nouy Says Greek Banks Are Solvent: Welt am Sonntag
- Greece to Seek Piraeus Port Binding Bids in Sept.: Kathimerini
- Russian Economy Minister Says GDP to Fall 2.5-2.8% in 2015: RIA
Keep an eye on :
- AC FP : Accorhotels Has Had Hard Time in 2015: CEO Tells France Inter
- ADS GY : Shareholders Say Adidas Should Weigh Ending FIFA Contract: Welt
- AIR FP : Airbus May End GKN Contract as A320 Parts Supplier: Sunday Times
- AIR FP : To develop reusable space rocket launcher that should be ready in 2025
- AREVA FP : Areva Will Need Recapitalization, French Finance Minister Says
- ATLN VX : Actelion Declines to Comment on Shire Approach Report http://reut.rs/1Qg3oDA
- AZM IM : Azimut CEO Says No Buyers in Sight for Co.: Milano Finanza
- BAS GY : BASF bid for Syngenta could require leverage jump to avoid dilution
- CRG IM : Carige to Decide on Ponti, Creditis Sale End June: Repubblica
- CA FP : Carrefour CEO Says Diniz Hasn’t Asked For Board Seat: JDD
- DGE LN : Brazil Billionaire Lemann Said to Consider Buying Diageo: Veja -->DEO US +7.96%
- DGE LN : Diageo Bid ‘Highly Unlikely’ N-T; Buy TAP on Pullback: Evercore
- DBK GY : Deutsche Bank’s Jain, Fitschen Said to Forgo Remaining Pay
- FCA IM : Fiat CEO: Ferrari IPO Can’t Be Done Before Oct. 12
- FCA IM : Fiat’s Marchionne Sees Auto Industry Investors Interested in M&A
- GEA GY : GEA CFO Sees Two to Three Acquisitions in 2015: Boersen Zeitung
- GKN LN : Airbus May End GKN Contract as A320 Parts Supplier: Sunday Times
- JPM US : JPMorgan Planning $9b Bid for Worldpay, Sunday Times Says
- SGO FP : Apollo Said to Make Preferred Bid for Saint-Gobain’s Verallia
- SHP LN : Shire Approached Actelion in Recent Weeks: Sunday Times http://reut.rs/1Qg3oDA
- UHR VX : Swatch CEO Says SNB Has Wrong Leadership Team at Work: NZZ
- TATE LN : Tate & Lyle Wants EU Exit Unless Sugar Rules Changed: Telegraph
- TEVA IT : Teva Held 2.15% in Mylan as of June 4, According to RNS Filing
- TIT IM : Tel. Italia Should Play Role in Broadband Plan: Official to Sole
- WLT US : Could enter bankruptcy within the month - financial press
- VOW3 GY : VW’s Piech Successor Choice Needs Time, State Minister Says: FAZ
- WPP LN : Standard Life to Protest Over WPP Boss Sorrell’s Pay: Times