Dow +1% S&P +0.98% Nasdaq +1.22% Russell +1.25%
US Market closed higher, closed above its 50d MA. Today's trade featured an upswing in the oil pit, weakness in the dollar, an uptick in M&A activity, and a rebound in the heavyweight technology (+1.4%), health care (+1.4%), and industrial (+1.1%) sectors. WTI crude ended its day higher by 3.3% at $47.72/bbl. AAPL gained 3.7% after BRKB disclosed that it acquired 9.8 million shares of the tech company. Warren Buffett's Berkshire Hathaway also added to its position in IBM and offered financing to a consortium of investors looking to bid on YHOO. health care space rebounded 1.4%, trimming its May loss to 2.9%. Volume were below average at 860mil shares. US After Hours GALT +19% following 'positive' interim clinical data; LC -8% after disclosing receipt of a grand jury subpoena from the DOJ.
Asia is mixed today. The Nikkei is off its highs with the yen holding inside its recent range. Despite an apparent push by Japan PM Abe for a coordinated response, press have highlighted differences among G7 officials on the yen and fiscal policy leading into this week’s meetings. Abe also stated he is yet to decide on a consumption tax hike delay. Greater China is weaker with mainland media clarifying a recent article (which subsequently got lot of traction) on an "authoritative" figure who warned against excessive leverage. There have also been reports China will tighten trading halt rules in a bid to ease A-share passage into MSCI indexes. ASX energy stocks are outperforming amid higher oil prices. Japan Steel -7% Psco -2.9% (Nippon Steel to sell stake in Posco) Sony -4% on Numbers
Nikkei +1.02% Hang Seng +0.32% CSI -0.32% Shanghai -0.23%
Eur$ 1.1316 CNH 6.5402 CNY 6.5195 JPY 109.02 GBP 1.4483 CHF 0.9778 RUB $ 0.9777 WTI $48.15 (+0.90%)
S&P +0.07% EuroStoxx +0.48% Dax +0.59% SMI +0.37%
Macro :
- U.S. Discloses Saudi Holdings of Treasuries for First Time
- ECB’s Latest Interest Cut Not Justified, Ifo’s Fuest Tells WAZ
- France Plans to Sell Some Listed Investments, Vial Tells Echos
Keep an eye on :
- AGR AV : Agrana Sales, Profit Fall on Sugar; Proposes EU4/Share Dividend
- BP IM : Banco Popolare, BPM Asset Quality Won’t Be Best in Class: KBW
- GBB FP : Bourbon Can’t Get Financing to Buy Gas Activities From Jaccar
- EN FP : Bouygues Telecom Can Go It Alone, CEO Tells Echos
- CSGN VX : Credit Suisse Said to Offer Bond Against Large Losses: WSJ
- EZJ LN : Norwegian Sees Possible Co-Op With Easyjet, Wizz Air: Berlingske
- FAGR BB : Fagron Says Last Condition Met for Capital Increase Re Bellevue
- FCA IM : Fiat Chrysler Exposed to Downturn, Cut to Underperform: Exane
- GCY GY : Grand City Properties 1Q Rental and Op. Income Up 54% Y/y
- BOSS GY : Hugo Boss Names CFO Mark Langer as Chief Executive Officer
- ILD FP : Iliad 1Q Rev. Grows; Adds Mobile, Broadband Subscribers
- NOKIA FH : Alcatel-Lucent ADS Holders Selling 59.3m Shares in Nokia, Sold at E4.47
- NOVN VX : Novartis Most Likely Competing Bidder for Anacor: JMP
- PBR US : Brazil May Name Pedro Parente New Petrobras CEO: O Globo
- RECIB SS : Recipharm Now Sees Rights Issue of SEK805m vs Earlier SEK850m
- SYNN VX : ChemChina Extends Main Offer Period for Syngenta Until July 18
- TEVA IT : Teva in ‘No Rush’ for Another Big Generics Deal: Wells Fargo
- TNTE NA : Syquant Capital Reports 3.03% Holdings in TNT, AFM Filing Shows
- UTDI GY : United Internet Says Continued Growth in 1Q, Confirms FY Outlook
- VIV FP : Canal+ to Reduce Free Content to Cut Costs, Les Echos Says
- VIV FP : Amazon, Netflix May Face Local-Content Rules in Europe: Echos
- VOD LN : Vodafone 4Q Organic Service Revenue Growth Beats Ests.
- WBA US : Goldman Selling 6m Walgreens Shrs at $77.65/Shr for Holder: CNBC