Dow +0.73% S&P +0.58% Nasdaq +0.77% Russell +1.14%
US Market Closed Higher on Reversal on Brexit Polls, US mkt closed off their highs due to a sell off in the fnal hour. Nine sectors ended in the green with energy (+0.9%), industrials (+0.9%), and consumer discretionary, (+0.9%) leading the pack. On the flipside, the countercyclical utilities sector (-0.4%) ended with the only loss while telecom services (+0.2%) finished with the slimmest gain. Oil prices benefited from the dollar's weakness and improved market sentiment, jumping 2.9% ($49.40/bbl; +$1.38) for the session. US After Hours IMPV +9% after Elliott Associates enter into discussions with Co; WERN -9% on weak guidance Asian equity markets are mixed with little outside of the Brexit waiting game to drive sentiment. Just after the US close, another poll by ORB/Telegraph saw the Stay camp momentum building with a 53% for remain, 46% for leave breakdown vs 48% to remain, 49% to leave last week. GBP/USD hit a 3-week high above 1.47, though minutes later, a YouGov poll saw a 44% to 42% preference for the Leave camp, sending GBP/USD below 1.4640. Famed investor George Soros remarked that if Brexit vote succeeds, there will be an immediate GBP drop of at least 15% and possibly 20% below $1.15, cautioning that voters are "grossly underestimating" the true costs of the exit. China's former PBoC adviser Li Daokui offered more of his downbeat projections, stating economy likely has not seen bottom yet as import/export decline may not subside until H2 of next year.
Nikkei +1.44% Hang Seng +0.60% CSI +0.21% Shanghai +0.07%
Eur$ 1.1332 CNH 6.5844 CNY 6.5733 JPY 104.36 GBP 1.4703 CHF 0.9610 RUB 64.1640 WTI$ 49.56(-0.80%) Aug contract
S&P +0.34% EuroStoxx +0.07% DAx +0.16% SMI +0.17%
Macro :
- World Stocks May Rally 14%, ‘Global Wave’ Signals Suggest: BofA
- A Vote for Brexit Unlikely to Hurt U.K. Stocks: Fidelity’s Rossi
- Roubini: Brexit Would Cause ’Significant Damage’ to U.K. Economy
Keep an eye on :
- ANIM IM : Anima Raised at UBS; Loss of Both Main Distributors Unlikely
- CS FP : Axa Targets EU1B M&A Annual Spending Through 2020
- CS FP : Axa Seeks EU2.1b Pre-Tax Cost Savings by 2020, Earnings Growth
- BRK/A US : California Probes Berkshire for Duping Client on Insurance Cost
- BWO NO : BW Offshore Says All Lending Banks Support L-T Financial Plan
- CF US : Yara could eye CF Industries or OCI NA in attempt to revisit US expansion
- CSGN VX : Credit Suisse CEO Said to Tell Staff Shorts Wrong on Capital
- EDF FP : EDF U.K. CEO: Nation Must Remain in EU, Will Still Need Hinkley
- FB US : Facebook Says All Directors Re-Elected at Annual Meeting
- GLEN LN : Glencore-Led Group Said to Be Out of Anglo American Sale: AFR
- INVCORP BI : *INVESTCORP BUYS LUXURY ITALIAN MENSWEAR MAKER CORNELIANI
- KGX GY : Kion to Buy Dematic for $2.1b; Initial Funding Via Bridge Loan
- LSE LN : Six Sees Clearing Concentration Risk in Deutsche Boerse-LSE: BZ
- MCK US : McKesson Said to Mull Merger of IT Unit, Change Healthcare: Rtrs
- COX FP : Nicox Says U.S. FDA Grants Priority Review for AC-170 NDA
- OCI NA : Yara could eye CF Industries or OCI NA in attempt to revisit US expansion
- SAND SS : Sandvik, Weir Top Picks to Play Resource Industry Rebound: Exane
- SAZ GY : Stada Commissions Investment Bank to Strengthen Position: FAZ
- SCYR SM : Sacyr to Use EU317M to Amortize Debt Associated W/ Repsol Stake
- TDC DC : TDC Divests Swedish Unit to Tele2 for SEK2.9b
- VIV FP : Vivendi Owns More Than 95% of Gameloft, May Seek Squeeze-Out
- VIV FP : Bollore Owns More Than 15% of Vivendi, Says Doesn’t Plan Bid
- VOW3 GY : VW Brand Chief Diess Probed by German Prosecutors, DPA Says
- VOW3 GY : VW’s Poetsch Rejects Shareholder Vote on Probe, RND Reports
- WBMD US : WebMD Puts Active After Google Announcement
- WBMD US : Google Introduces Medical Symptom Search; WedMD Shares Fall
- WEIR LN : Sandvik, Weir Top Picks to Play Resource Industry Rebound: Exane
- YARA NO : Yara could eye CF Industries or OCI NA in attempt to revisit US expansion