US MArket Closed slightly higher, but small cap continue to to underperformed, Stock weak after ISM but try to rebound with news suggesting that ISM did not contain the originak season adjustement, hearing should have been 56...volume were low @ 537mil shares...AAPL didn't really react to WWDC AAPL -0.7%...GOOGL -1.3% on business dev. head departure annoucmeent...VIX @11.58 +1.65...- China PMIs were mixed and hardly swayed sentiment in either direction. The
official non-manufacturing PMI improved to a 6-month high, while the HSBC final manufacturing slowed from the stronger Flash figure and remains in contraction. HSBC chief economist noted that "the final PMI reading for May confirmed that
the economy is stabilizing, but it is too early to say that it has bottomed out...Japan continues to make steady progress in achievement of policymakers' objectives as latest wage inflation data hit a 2-year high, suggesting that
higher prices are translating into rising wages. BOJ Gov Kuroda reiterated he expects Japan inflation to reach 2% around FY15, while Fin Min Aso remains flexible on the possibility of lower corporate tax rates...Nikkei +0.8% HS+0.66% Shanghai+0.33%...
Eur$1.3604 S&P Fut 0.10% European Fut. -0.10%
Macro
- HSBC China May Manufacturing PMI 49.4; Est. 49.7
- Obama Said to Unveil $1 Billion European Security Fund in Poland
- Goldman Sees Rise in EU Consumer Staples M&A, Lists 10 Targets {NSN N6KW6Y6TTDSA<Go>}
- ECB Rate Cut Would Be ‘Rather Cosmetic,’ Stark Writes in FAZ {NSN N6KHI66JIJVQ <go>}
Keep an eye on :
- AF FP : Etihad to not become shareholder at Air France-KLM for now
- AZA IM : Etihad Alitalia Investment Would Cancel a Third of Debt: Echos
- AZN LN : AstraZeneca May Seek U.K. Fast Track for 2 Drugs: Telegraph Link
- BMW GY : BMW Plans to Cut EU100m/Yr in Personnel Costs: Muenchner Merkur
- BNP FP : BNP to Pay EU140M-EU180M for Cofinoga Stake, Echos Says
- CU FP : Club Med to Allow Counsels of Investindustrial Access to Data
- DIA SM : Carrefour, Casino Make Non-Binding Bids for Dia France: Figaro
- EZJ LN : Rumours of easyJet takeover by Middle Eastern airline - FT ( from dealers - low probability)
- FIS1V FH : Fiskars Cuts Outlook: Sales, Op. Profit Seen Below 2013 Levels
- GDS FP : Attia Plans to Bid for Generale De Sante, Le Figaro Says {NSN N6KUF56K50XZ <go>}
- GPX LN : Gulfsands Petroleum shareholder Waterford said to be eyeing buyout at GBP 1.20-1.50 per share - The Times
- RMS FP : Hermes Says Sales Haven’t Dropped in China, Figaro Says
- JUN£ GY : Jungheinrich may make complementary acquisitions but no large takeovers
- MS IM : Mediaset May Seek to Boost Stake in DTS, La Stampa Reports
- TEF SM : Telefonica Closes Purchase of DTS From Prisa For EU750m
- FP FP : Total Targets 10% Share of German Gas Station Market: Superillu