Ukraine downplayed the border crossing and subsequent altercation with Russian military vehicles that sent the markets reeling on Friday. Instead, investors are more enthused by reports of an agreement between Russia and Ukraine authorities on processing humanitarian aid across the border under direct supervision of the Red Cross. Meanwhile, foreign ministers from the two countries joined their counterparts from Germany and France in Berlin on Sunday for talks to set out a roadmap toward a ceasefire. While the progress is reportedly slow, more meetings are scheduled for Monday. Markets are taking
comfort in more genuine indication of efforts to end hostilities by Moscow, sending S&P futures modestly higher. - Several notable developments in China indicate more turbulence in the property market and declining investor confidence. July home prices in all 70 cities fell for the 3rd straight month and by a larger margin of 1.2% m/m. Prices were also down in 64 out of 70 cities, a record high and up from lastmonth's 52. China's largest property developer Vanke also posted a 1% drop in H1.
Nikkei +0.05% Hang Seng -0.34% Shanghai +0.29%
Eur$ 1.3391 S&P +0.37% EurosToxx +1.49% FTSE +0.50% DAX +1.57% SMI +0.31%
Macro
- China July New Home Prices Fall M/m in 64 Cities; 55 in June {NSN NAHBJF6TTDS5 <go>}
- *ITALY MAY NEED EU20B BUDGET ADJUSTMENT IN 2015, STAMPA REPORTS
- *FRANCE'S SAPIN SAYS HE WANTS TO EXTEND TAX CUTS
Keep an eye on :
- ABI BB : AB InBev to Open Vietnam Brewery in 2015, Nguoi Lao Dong Says
- DAI GY : China Finds Evidence of Mercedes Price Manipulation: Xinhua
- DTE GY : Deutsche Telekom considers cable TV buys in Germany
- LXS GY : Lanxess CEO hopes for speedy turnaround to avoid vulnerability to takeover - FT
- NOBN SW : Nobel Biocare suitors Danaher and Straumann submit non-binding offers to gain access to books
- ROG VX : Chugai (4519 JP) +16%, was +21% on open on Rumor Roche could buy the Co. Chugai denies report of Roche bid
- TIT IM : Telecom Italia Prepares GVT Offer; Fondazione MPS
- TUI1 GY : will restructure, close or sell more than 100 of the roughly 650 subsidiaries (c. 15% of sales/earnings), if the proposed merger goes through. Handelsblatt {http://bit.ly/1pE2pOJ}
- VIV FP : Vivendi may take 20% stake in Telecom Italia in exchange for GVT -
- VOLVB SS : Volvo Cars to Exceed 2014 Growth Target After China Sales Soar
- VTW GY : United Internet CEO has not decided whether to make offer for Versatel