Weekly Update
Dow +1.21% S&P +1.48% NAsdaq +2.36% Russell +2.21% Brazil +1.74% Nikkei -3.67% Hang Seng -1.11% CSI +1.21% Shanghai +1.90% EuroStoxx -1.56% Dax -1.50% FTSE +0.19% CAC -1.95% Ibex -1% MIB -1.41% SMI -0.58%
Global financial markets remained volatile under the continuing influence of the UK Brexit vote two weeks ago. The 10-year UST yield sank to fresh record lows below 1.35%, and buyers of 50-year Swiss government bonds got ready to accept a negative yield this week as malaise settled over the entire global economy. The pound, which hit a 31-year low against the dollar of 1.2800 on July 6th, gave up recent gains and sank back below 1.3000, while the dollar and yen remained strong. Crude prices sank lower, with WTI back in the $45 handle and Brent back around $46. In the UK, various investment firms suspended redemptions in open-ended property funds as investors rushed to take out their cash, while investors eyed the Italian banking system with deepening concern. On Friday, the very strong June US jobs report lifted stocks broadly to flirt with all-time highs in the S&P. US Treasury yields stayed stubbornly low, as global demand for assets that offer any kind of relative yield remains unwavering. For the week, the DJIA +1.1%, the S&P500 +1.3% and the Nasdaq +1.9%.
Macro :
- Kazakhstan Beats Soros After Dumping Pounds on Brexit’s Eve
- El-Erian Recommends U.K. Real Estate Wager, With Patience
- Europe Needs EU150 Billion Bank Bailout, Economist Tells Welt
- German Companies Have Record Goodwill in Balance Sheets: WiWo
Keep an eye on :
- ABI BB : Investor unease about £77bn SABMiller takeover mounts http://bit.ly/29FsoTh
- AIR FP : Airbus Is Running Out of Buyers for Its Enormous A380s
- AIR FP : Germania May Order 25 Airbus A320-Family Jets, Reuters Says
- AIR FP : Airbus Said to Be Poised to Win $7.5 Billion GoAir A320neo Order
- AIR FP : Boeing Said Close to Order for 20 737 Max Jets From Air Europa
- AIR FP : Boeing Said Set to Announce $1.3b Order From TUI for 11 Aircraft
- AF FP : Transavia Wants to Expand to Dutch Lelystad Airport: De Stentor
- AZN LN : AstraZeneca Considers Bid for Medivation, Sunday Times Says
- BN FP : Danone Cut to BBB+ by S&P, May Be Cut Further
- CSGN VX : Credit Suisse Is ‘Safer Than Ever’, CEO Thiam Tells NZZ
- BN FP : Pepsi sticks with soda after passing on milk company - NY Post - http://nyp.st/29qE0s2
- HPE LN : Hewlett Packard Enterprise Said to Mull Selling Software Assets
- HMB SS : H&M’s Persson Buys Debenhams’s Oxford St Store: Sunday Times
- JUN3 GY : Jungheinrich Confirms 2016 Forecast Amid Brexit, Euro Says
- LAT FP : Latecoere Main Shareholders Want CEO Ousted: Tribune
- LLOY LN : Lloyds Said to Speed Cost-Cutting Plan, Boost Savings Goal: FT
- LSE LN : LSE/Deutsche Boerse: Tender offer prospects still bullish, sources say - MergerMarket
- LSE LN : Deutsche Boerse Said to Consider Lower LSE Approval Limit: WSJ
- MDVN US : AstraZeneca Considers Bid for Medivation, Sunday Times Says
- UG FP : France Has No Plan to ‘Exit’ PSA Shareholding in Near Future
- TPEIR GA : Piraeus Bank Agrees Sale of Piraeus Bank Cyprus: Statement
- PLND LN : Steinhoff to make new Poundland bid within days. Analysts had previously expected Steinhoff would need to increase its offer to between GBP 2.20 and GBP 2.30 per share.
- REP SM : Repsol 2Q Refining Margin $6.5/Barrel vs $9.1 Year Ago
- RCS IM : RCS Bid by International Media Holding Raised to EU1/Shr
- SAB LN : Investor unease about £77bn SABMiller takeover mounts http://bit.ly/29FsoTh
- SAN FP : AstraZeneca Considers Bid for Medivation, Sunday Times Says
- TEF SM : Telefonica Selling China Unicom Stake, Valued at $367 Mln: Terms
- TEF SM : Telefonica Sells 1.51% China Unicom Stake for About EU322M
- TLG GY : TLG Immobilien Portfolio Value May Reach EU2B Early, Welt Says
- UCG IM : Regulators Oppose UniCredit Bank Austria’s East Europe Split: WZ
- UTDI GY : United Internet Offers Fiber Optic Lines for SMEs: Handelsblatt
- DG FP : France to Hold Final Bid Round for Nice, Lyon Airports: Tribune
- VOW3 GY : German Prosecutor Starts Proceedings for Possible VW Fine: SZ
- VOW3 GY : Volkswagen Plans Procurement Savings, Automobilwoche Says
- VOW3 GY : Audi Strategy to Focus on Car Sharing, E-Cars: Automobilwoche