Investors are alarmed going into this week's key Fed meeting this Thursday, with expectations of a rate hike overshadowed by heightened volatility in the tech space on Friday when the Nasdaq plunged over 100 points. Ahead of Monday open, US equity futures are slightly lower while Asian indices start the week under pressure. Hang Seng is particularly vulnerable, falling over 1% to a 1-week low. French President Macron secured well over 400 seats in the first round of National Assembly elections - well above 330-360 expected - giving him the mandate to govern toward labor reform promised on campaign trail. In Italy too, the euroskeptic 5-Star faction was dealt a blow politically, failing to make the run-off vote in all 7 major cities holding local elections this weekend. Recall Italy presidential elections are expected early next year, but may be called sooner. EUR/USD firmed up marginally above 1.12. GBP/USD was also slightly higher as PM May has survived the first few days of her election disappointment, though there were more reports of Conservative lawmakers looking at a No Confidence vote coup.
Nikkei -0.60% Hang Seng -1.16% CSI +0.08% Shanghai -0.28%
Eur$ 1.1215 CNH 6.7868 CNY 6.7971 JPY 110.25 GBP 1.2769 CHF 0.9686 RUB$ 57.0251 WTI $46.11 +0.61%
S&P -0.13% EuroStoxx -0.25% Dax -0.30% FTSE -0.43% SMI -0.25%
Macro :
- Spain Weighs Suspending Short Positions, Cinco Dias Reports
- ETF That Focuses on Europe Ex-U.K. Starts Trading Monday
- Qatar Denounces Saudi-led Bloc’s Terror List, QNA says
- May Limits Cabinet Changes as Chaos Hangs Over Bid to Cling On
- Macron Set for Majority in Assembly After First Round of Voting
Keep an eye on :
- AAPL US : Apple Cut to Neutral at Mizuho, PT $150
- AB1 GY : Air Berlin Purchased Tickets ’Safe,’ COO Tells Rheinische Post
- AIR FP : Airbus Making Preparations for Future Combat Jet: Handelsblatt
- AF FP : Air France, Deutsche in Derivatives Contract on Amadeus Shares
- AKZA NA : Elliott Advisors has increased its stake in Akzo to over 5% (from 3.25%) - Dutch filing - Spokesperson for Elliott declined to comment on the reason for the stake increase - press
- AMS SM : Air France, Deutsche in Derivatives Contract on Amadeus Shares
- AMZN US : Amazon Plans to Sell Cars in Europe, Automobilwoche Reports
- CS FP : Axa Seeks India Reinsurance License, Press Trust of India Says
- BONE SUPORT IPO : Bonesupport Plans to Raise as Much as SEK575m in Stockholm IPO
- BP/ LN : BP, Sirius Petroleum Said In Talks On Nigeria Oil Deal: S. Times
- CALT IM : Caltagirone Family Plans Buyout Offer, Milan Delisting
- CRG IM : Carige Chairman Expects New CEO Appointment Soon: Il Sole
- DBK GY : Deutsche Bank Wealth Management Said Hiring 100 Managers: FT
- ENI IM : Eni Not Planning to Sell Chemical or Retail Divisions, CEO Says
- EVK GY : M&A to Stay Part of Evonik Strategy, CEO Kullmann Tells FAZ
- IAG LN : British Airways Cabin Crew Suspends Strike to Allow Talks: PA
- GLEN LN : Glencore Seeking Rio’s Coal & Allied Stake for $2.55 Billion
- MAC LAREN IPO : McLaren Automotive May Seek IPO by 2022, Sunday Times Says
- 1999 HK : Man Wah Holdings Bought Back 18.3m Shares for HK$123.7m June 9 (Muddy Waters Short )
- MS IM : Mediaset Won’t Make Offer for 2018-2021 Serie A Soccer TV Rights
- NOVN VX : Novartis Treatment Granted Orphan Drug Status by FDA
- NOVOB DC : Novo Nordisk Says Tresiba Cuts Blood Glucose Levels
- NOVOB DC : Novo to Be More Flexible on Biopharm Options, CEO Tells Borsen
- ORA FP : Orange Excludes Taking Stake in Canal Plus for the Moment: JDD
- PHA3 GY : Porsche Says Emission-Tests Results Are Within Legal Limits
- RIO LN : Glencore Seeking Rio’s Coal & Allied Stake for $2.55 Billion
- ROG VX : Roche ’Confident’ of Reaching Targets in 2017, CEO Tells SoZ
- ROG VX : Roche’s Cancer Immunotherapy Tecentriq Approved in Switzerland
- SAF FP : Safran to Drop Zodiac Deal If Share Issue Rejected: Investir
- SCVB SS : Dutch Defense Ministry Buys About 2,000 Scania Trucks: Telegraaf
- SSABA SS : SSAB Open to Sell Building Systems, DI Reports
- STL NO : Statoil Says Cap-X Injunction May Cost It More Than NOK700m: DN
- UBI IM : UBI Names Banca IMI, Santander, Mediobanca as Underwriters
- UBSN VX : UBS’s Weber Doesn’t See Broad-Based Deregulation in U.S.: Welt
- VOW3 GY : VW Is Considering Rehiring Opel’s Neumann, Reuters Reports, VW’s Osterloh Says Firing of Audi’s Stadler ‘Not Planned’: Bild
- VIV FP : Orange Excludes Taking Stake in Canal Plus for the Moment: JDD
- VOW3 GY : VW’s Ducati Targets 2018 Motorcycle Sales of 60,000: Corriere
- YNAP IM : U.K. Online Retailer Farfetch Said to Seek N.Y. Listing: Sky
- ZC FP : Safran to Drop Zodiac Deal If Share Issue Rejected: Investir