US Market closed Lower, Small caps lead the move, Russel was down 1.7%, US market followed weak action in Euorpe after -ve German Industrial Production (-1.8% vs 0.2% expected)...most of action in the US was Profit taking ahead of Earning Season Kick off, counter cyclical did better with Telco (+0.3%) & utilities (+0.4%)...VIX @ 11.43 +10.76%... volumes were below average @ 600mil shares...no much action on big names after hours...Asian markets are trading lower following US action and because of JPU streghtened against USD...investors are now focus on US Earnings, the Fed's position on monetary policy, as well as Chinese economic data...Japan's current account balance had a surplus for the fourth consecutive at ¥523B; imports sliding for the first time in 19 months with the consumption tax increase cooling domestic demand....Samsung released preliminary Q2 results with operating profits declining to a two-year low, Despite the weak results share price initially jumped by over 2%before settling to 0.5% in early trading as a drop in profits were widely expected and as it cautiously expects a more positive outlook for the next quarter with the release of its new smartphone lineup and improving mobile business....Nikkei -0.35% Hang Seng -0.08% Shanghai +0.06%
Eur$ 1.3603 S&P -0.08% EuroStoxx +0.12% FTSE Unch Dax +0.14% SMI +0.14%
Macro
- Japan’s May Current-Account Surplus Beats Estimates as Imports Decline {NSN N8DKRZ6JIJV7 <go>}
- Japan Investors Dump German Bunds to Buy Record $18 Billion of French Debt {NSN N8DM4W6S972T <go>}
- Mobius Pays Premium for India Stocks as Foreign Inflows Test Market Limits
Keep an eye on :
- AF FP : Air France-KLM Sees 2014 Ebitda EU2.2b-EU2.3b, Saw About EU2.5b
- AIR FP : Airbus CEO Says 2014 to Be a Good, Not Flamboyant, Year: Echos
- AIR FP : Airbus’s Bregier Says ECB Should Push Down ‘Crazy’ Euro, FT Says
- STS IM : Siemens CEO Says Doors Always Open for Ansaldo Energia: Corriere
- SAB SM :Banco Sabadell attracts 10 initial offers for its debt recovery business - Expansion
- BNP FP : BNP Paribas Apologizes to Clients in Letter After Fine: Figaro
- CBK GY : MORE: U.S. Scrutiny on Iran Dealings Shifts to German Banks: NYT
- CGG FP : CGG Says 2Q Vessel Availability Rate 94%, Production Rate 92%
- DUGN SW : Dufry Raises ~CHF810m Selling Shares at CHF162 Apiece
- I3M GY : Aalberts Offers to Buy Impreglon for About EU119m (€14/share)
- LOGN SW : Logitech Says to Report Prelim 1Q Fiscal 2015 Results July 23
- MS IM : Mediaset Deals Raise Number of Questions on Strategy: Bernstein
- QIA GY : Qiagen Is Next Candidate for Health-Care Tax Deal Wave: Real M&A
- SAN FP : Sanofi Says FDA Accepts NDA for Basal Insulin Toujeo
- SIE GY : Siemens CEO Says Doors Always Open for Ansaldo Energia: Corriere
- SZG GY : Steel Workers Reach New Wage Agreement, IG Metall NRW Says
- TEL2B SS : Tele2 could grow via acquisitions - Dagens Industri