US Market Closed Lower, the World Bank cut its 2014 global growth outlook to 2.8% from 3.2%, while also revising projections for several major economies. For instance, the growth forecast for the U.S. was lowered to 2.1% from 2.8%, while China's GDP expectations were taken down to 7.6% from 7.7% appear to be the main driver f oer the retreat, Participation remained well below average and today's 520 million shares represented the lowest NYSE floor volume of the year...VIX @ 11.60 +5.55%...Ahead of tomorrow's BOJ decision, local press speculated the central bank
would raise its outlook on foreign economies (mainly due to strength in US jobs) while once again maintaining economic assessment for Japan. Also of note tomorrow, Japan govt will unveil draft economic policy guidelines speculated to a formal commitment to lower corporate tax rates of as low as in the 20pct. USD/JPY retested above the ¥102 handle, up about 15pips on the day....Nikkei -0.64% HS -0.30%...Shanghai -0.14%
Eur$ 1.3537 S&P Fut +0.10% European Fut. +0.15%
Macro
- Dijsselbloem’s Bank Bonus Plan Must Be Adjusted, Telegraaf Says
Keep an eye on :
- AERL ID : Aer Lingus Sees 2014 Op Profit 10%-20% Below Last Year
- ALO FP : CDC Would Intervene in Alstom If Asked, Lemas Tell Les Echos
- BALSN SW : Basilea Starts Phase 1 Combo Study With BAL30072, Meropenem
- BNP FP : Fitch Expects BNP Paribas to Plead Guilty to U.S. Probes {NSN N7182S6TTDS9 <go>}
- EN FP : Orange discussions for the sell of Bouyggues telco not over according to Orange
- BWO NO : BW Offshore Has 100% Contract Coverage for 2014, 86% for 2015
- CRG IM : Banca Carige Says Regulator Approves EU800m Capital Raise Plan
- CU FP : Club Med: Investindustrial nominates advisors for public offer
- FCC SM : George Soros May Take Majority Stake in FCC, Confidencial Says
- HOME LN : Home Retail 1Q LFL Sales Beat, Sees FY Profit In Line With Ests.
- MOR GY : MorphoSys, Merck Serono Enter Strategic Immuno-Oncology Pact
- MUL LN : Mulberry Retail Rev. Down 9% in 1st 10 Wks of New FY
- NOVN VX : Novartis Says Tokyo Office Being Searched by Tokyo Prosecutors
- NUO NA : *NUTRECO TO START BUYBACK OF 1.4M SHARES TODAY
- PMO LN : Premier Oil Receives U.K. Government Approval of Catcher
- SBMO NA : SBM Won’t Participate in Tartaruga Verde, Libra Field Tenders
- GLE FP : SocGen Plans Test Closures of Some French Branches Aug.: Echos
- UNA NA : Could be a takeover target by PE consortium to be break-up