US Close Dow+0.58% S&P+0.61% Nasdaq+0.72% Russell+0.60%
US Market Closed higher on greece news of new proposal, even if not all protagonist are positive. Over on the cyclical side, three of six sectors—energy (+1.0%), financials (+0.8%), and technology (+0.7%)—settled ahead of the broader market with energy boosted by a 26.0% spike in the shares ofWilliams Companies (WMB 60.93, +12.59) after the company rejected an offer to merge with Energy Transfer Equity (ETE 65.06, -3.33) as part of an all-stock transaction valued at $64/share. For its part, crude oil erased its overnight loss to end higher by 0.6% at $60.01/bbl. US After Hours SONC -5.5% following earnings/guidance. European negotiators have seemingly made substantive progress with Athens, announcing the two sides have come to terms on the principles of Greek debt program. While there were few details announced in the press conference and European side stated there is still a lot of work that needs to be done over the next 48 hours, EC president Juncker said today's set of proposals from Greece "represents a major step", expressing confidence the process could be finalized this week. Juncker added capital controls and debt relief were not discussed. Separately, Germany's Merkel said EU leaders support commitments toward the deal which does not contain extension of the bailout. Greek PM Tsipras also spoke, stating the solution needs to include economic viability and growth measures. Shanghai Composite trading resumed where it left off the week - with another selloff in spite of strength everywhere else. After a volatile morning, bears exerted more control, sending the A-shares to a 1-month low below 4,300 despite China's CICC anticipating a 2nd half recovery in China economy. China June flash manufacturing PMI data were also mixed - although the gauge remains in contraction for the 4th straight month. Japan's prelim manufacturing PMI slid back into marginal contraction, as production growth slowed and new order demand contract for the 3rd time this year. Similar to China, Japan PMI employment component was also soft, even though Japan's more favorable exchange rate translated into an upbeat exports view
Nikkei +1.62% Hang Seng +0.55% Shanghai -0.23%
Eur$ 1.1268 EURCHF 1.0456 GBP 1.5787 JPY 123.67 RUB $53.94 WTI $60.30 (-0.13%)
S&P +0.34$ EuroStoxx +0.92% Da +0.87% SMI
Macro :
- EU’s Dombrovskis Sees Likely Need of Extension of Greek Program
- Varoufakis Says Working on Deal That ‘Keeps Europe Intact’
- Greek Govt Says It’s Ready To Increase Minimum Wage
- HSBC China June Flash Manufacturing PMI 49.6; Est. 49.4
Keep an eye on :
- ABI BB : Anheuser-Busch InBev Completes $1 Bln Share Buyback Program
- AENA SM : Aena Talks With Japan Airlines Over Tokyo Flight: Confidencial
- BPI PL : Banco BPI Outlook Negative by S&P, Rating Affirmed
- CCL LN : Carnival Plans to Spin Off Golden Jaguar Brand by 2017: Standard
- EN FP : France’s Macron Wants to Avoid ‘Too Big to Fail’ Telecom Co.
- EN FP : Bouygues Telecom: Numericable-SFR EUR 10bn cash offer already financed: resale of assets to Free valued at EUR 2bn - Le Figaro
- EDPR PL : EDP Renovaveis Considers Expanding Asset Rotation Program
- ILD FP : Bouygues Telecom: Numericable-SFR EUR 10bn cash offer already financed: resale of assets to Free valued at EUR 2bn - Le Figaro
- IMPN SW : Implenia Launches CHF150m Subordinated Convertible Bonds Offer
- LAD LN : Ladbrokes Confirms Talks With Gala Coral on Merger
- NUM FP : Valls Sets Conditions for Numericable-SFR Bid: AFP
- RKET GY : Rocket Shareholders to Vote on Convertible Bond: Manager Magazin
- SYNN GY : Syngenta Confident to Deliver on Targets, Rejects Monsanto Offer
- TEL NO : EU May Warn Telenor, TeliaSonera About Danish Deal: Reuters
- TEN IM : Awarded contract for Statoil's Mariner Project, supply of casing, tubing and all related services for Statoil's
- TLW LN : Tullow Oil Didn’t Find Hydrocarbons in Norwegian Sea PL591 Area