US Market Closed lower but rebound from low levels, The early stumble was not brought upon by any specific headline, but rather a series of developments that caused investors to reduce their exposure to equities. In Asia, China reported below-consensus exports (7.2% versus expected 10.6%) and imports (5.5% versus expected 5.8%), while Japan's Core Machinery Orders tumbled 19.5% against the expectations of an uptick of 0.7%, worries about Portugal banking system didn't helped the mkt also, With the second-quarter earnings season set to heat up next week, two consumer discretionary components primed the market for disappointing results. Shares of Potbelly(PBPB 10.97, -3.68) plunged 25.1% to a new record low after the company said it expects its revenue to come in below estimates, while also guiding for a 1.6% decline in comparable store sales...Volume was below average with 640m shares...VIX @ 12,64 +8,50%...
Asian Markets are trading in line with US & Europe...European concerns appears to be the main focus, JPY is holding...Nikkei -0.48% Hang Seng -0.35% Shanghai +0.45%
Eur$1.3600 S&P +0.03% EuroStoxx +0.35% FTSE +0.18% Dax +0.29% SMI+0.15%
Macro
- Nowotny Says ECB Should Agree or Drop ABS Plan by End of Year
Keep an eye on :
- AIR FP : SMBC Said in Airbus Talks for Potential A320 Order ($10b): Reuters
- BATS LN : Reynolds Said to Be Near Deal to Buy Lorillard With BAT Blessing
- BES PL : Portugal’s CMVM Bans Naked Short Selling of BES Shares
- BES PL : BES Has Large Enough Capital for Possible Defaults: Reuters
- BES PL : Banco Espirito Santo Has EU1.18b Exposure to E.S. Group
- Braccialini IPO : Braccialini moves toward selling to Chinese or Singapore investor; IPO becomes less likely
- BMW GY : 1114 HK +1.68%
- BRBY LN : Burberry Shareholder Sells ~GBP69m of Shares, Reuters Says
- AM FP : India to Delay Rafale Contract Until Next Year: Les Echos
- DSY FP : Dassault Systemes Buys Simpack; Purchase Price Not Disclosed
- EDF FP : France to Close Experimental Nuclear Reactor end-2015: Les Echos
- EMSN SW : EMS-Chemie 1H Net Sales Rise to CHF999m, Confirms 2014 Forecast
- IND IM : Whirlpool Agrees to Buy $1b Majority Stake in Indesit
- LLOY LN : Lloyds CEO Says Co. Ready for Full Privatization: Expansion
- MC FP : Russian Luxury Market to Drop 4%-6% This Yr, Vedomosti Says
- MTX GY : MTU Aero Takes Stake in GE’s Boeing 777X Power Plant
- NOVN VX : Novartis’s Siponimod Gets FDA Orphan Status for Dermatomyositis
- UG FP : Peugeot Auto-Finance Unit, Santander to Set Up Partnership
- RHM GY : Rheinmetall Wants to Merge With Krauss-Maffei, Handelsblatt Says
- RI FP : Pernod takes a $100M gulp of Tequila Avion - NY Post
- SAF FP : Safran to Partner GE on New Engine for Boeing 777x
- SAP GY : Infosys 1Q Net Income Beats Estimates, Keeps Sales Outlook (Info IM +1.2%)
- SHP LN : More talks about Allergan bid on Shire
- SIE GY : Siemens to Sell BSH Joint Venture Stake to Bosch: Handelsblatt
- GLE FP : Societe Generale to Relocate Tokyo Office to Marunouchi
- UNA NA : Unilever Sells Slim-Fast Brand to Kainos Capital; No Terms
- VIV FP : Sony May Bypass Licensing Agencies Over Royalties: NYT
- VOW3 GY : Volkswagen Group China 1H Sales Rise 17.5% YoY