Dow-0.55% S&P-0.53% Nasdaq-0.31% Russell-0.01%
US Market closed lower before the week end and Today decision on greece. the entire week passed without a deal between Greece and its creditors. That lack of progress caused more than EUR3.00 billion in outflows from the Greek banking system last week alone, which prompted the European Central Bank to increase Greece's Emergency Liquidity Assistance by EUR1.80 billion to EUR84.90 billion. energy sector (-0.9%) trailed throughout the session with crude oil contributing to the weakness. The energy component lost 1.3%, ending the pit session at $59.64/bbl. Similar to the energy sector, financials (-1.0%) struggled throughout the session. trading volume was well above average, which was due to quadruple witching. As a result, nearly two billion shares changed hands at the NYSE floor. Asian indices are mixed as caution related to the impact of a potential breakdown in Greek negotiations persists. US equity futures are trading up 0.4% and EUR/USD did rise about 40pips above $1.1380 on some weekend chatter that PM Tsipras has offered new proposals to creditors ahead of the Monday summit consisting of reduction of tax breaks leading to smaller pension payments. Separate reports also indicating Germany's Merkel, France's Hollande, and Greek PM Tsipras held phone talks on Sunday and could be approaching an "imminent agreement". On the flip side, Bank of Greece is said to have called for another emergency ECB session to secure more ELA funding for the banking system enduring rapidly increasing withdrawals by panicked depositors. German Fin Min Schaeuble has also demonstrated few signs of willingness to compromise, calling on Athens to carry out promised reforms to maintain trust in Europe. Shanghai closed today...Nikkei225 outperformed the regional indices, financial press citing a draft fiscal blueprint seeking a more flexible approach vs a rigid cap on spending for the next 3 years to help cushion the economy ahead of the expected 2nd round of sales tax increase to 10% in Apr 2017.
Nikkei +1.3% Hang Seng +0.055 Shanghai closed
Eur$ 1.1398 JPY 122.71 GBP 1.5899 EURCHF 1.0458 RUB $53.6089 WTI $59.66 (+0.08%)
S&P +0.49% EuroStoxx +1.90 Dax+1.83% SMI+0.55%
Macro :
- Tsipras Government Must Rise to Its Responsibility: EU’s Schulz
- EU Commission’s New Plan Sees Extending Greek Aid to Sept: FAS
- Greece Is a Special Case, ZEW’s Clemens Fuest Tells Handelsblatt
- Gabriel Urges Merkel to Protect Ordinary Greeks, Germans: Bild
- Juncker Aide Calls Greek Proposal ‘Good Basis for Progress’:Rtrs http://reut.rs/1Lokn38
- *GERMAN POLITICIANS SEEK TO STOP ELA FOR GREEK BANKS: SPIEGEL
Keep an eye on :
- AF FP : Air France, Delta to Operate Nice-New York Flights All Year
- AFR LN : Afren Sees Added $148m in Net Cash Proceeds in Restructuring
- AIR FP : Airbus to Build U.S. Factory to Fulfill Satellites Contract: JD
- ALV GY : German Insurers Have EU26b for Infrastructure, Tagesspiegel Says
- BIM IM : BIM Says Investor Group to Make New Offer Post ECB Remarks
- BMPS IM : Monte Paschi Says Bank’s Rights Offering Fully Subscribed
- EN FP : Numericable-SFR to Bid ~EU10b for Bouygues Telecom: France Info
- EN FP : French Finance Minister Opposes Telecoms Consolidation, AFP Says
- CI US : Anthem Raises Offer for Cigna to $54 Billion ($184/share +18,3% vs friday close $155.26,, +5% vs last offer @ $175) - WSJ
- COLT LN : Colt Group had been on radar of US rivals including L-3 Communications prior to Fidelity’s takeover bid
- ANN GY : Deutsche Annington looking to acquire residential portfolios with more than 1,000 units - Welt am Sonntag
- DTE GY : German Auction Outcome May Be Slightly Negative for Shrs: UBS
- DBHN GY : Deutsche Bahn Wage Battle Has Cost EU489M, Bild am Sonntag Says
- ERF FP : Eurofins Scientific Agrees to Buy Biomnis Group for About EU220m
- HSBA LN : HSBC Said to Plan $300m Brazil Corporate Bank After Sale
- IAG LN : IAG Considering Offering Concessions to EU Regulators: Reuters
- ILLY IPO : Illy Said to Consider Market Listing, Hires Roland Berger: FT
- BAER VX : Julius Baer Sees No Major M&A Before U.S. Tax Accord: Basler Z.
- LSE LN : London Stock Exchange Group Raised to Baa1 by Moody’s
- MRL SM : Merlin Props Weighs Alternatives to Sale of New Shares: Filing
- MONC IM : Moncler’s Ruffini Sees Major Impact If Greece Exits Euro
- NG/ LN : National Grid’s CEO Holliday Set to Step Down: Sunday Times
- NUM FP : Numericable-SFR to Bid ~EU10b for Bouygues Telecom: France Info
- ORA FP : Orange Says It Isn’t Part of Bouygues Telecom Talks, Deal
- RR/ LN : Rolls-Royce’s Aflatt, Marine Unit CFO, Leaves by Mutual Consent
- SGO FP : Saint-Gobain CEO Says French Industrial Decline Halted: Figaro
- SCVB SS : Scania Gets Columbian Order for 147 Gas Buses
- SKY LN : Murdoch family rejects approaches from Vodafone and Vivendi for 39% stake in Sky - The telegraph
- SKYD GY : New Sky Deutschland CEO Aims at Fast Subscriber Growth: Welt
- GLE FP : Societe Generale Double Downgraded on Dividend Risk, RBC Says
- SVT LN : Borealis Weighs £5b Takeover Bid for Severn Trent: Sunday Times
- SIK VX : Sika Says Schenker-Winkler No Longer Seeks to Replace Chairman
- SYNN VX : Monsanto could refine offer for Syngenta - Basler Zeitung
- SYNN VX : Monsanto continues to seek constructive talks with Syngenta, would not rule out price increase - Schweiz am Sonntag
- TEC FP : Algeria’s Sonatrach Ends Technip Refinery Contract: El Watan
- TIT IM : Vivendi May Announce Telecom Italia Stake Deal by June 24: Rtrs
- FP FP : Total Cut Investment Budget by 10% in 2015, CEO Tells Investir
- URKA LI : Uralkali May Go Private This Yr, Merge With Uralchem: Vedomosti
- VIE FP : France’s SNCF to Expand Bus Services, CEO Pepy Tells Europe1
- VIV FP : Vivendi May Announce Telecom Italia Stake Deal by June 24: Rtrs http://reut.rs/1IsJwU0
- WPP LN : Grupo ABC in negotiations to sell control to WPP - Veja