Dow -0.42% S&P -0.30% Nasdaq -0.05% Russell -0.25%
US Market closed lower, pulling back alongside a sustained downturn in crude oil. The Federal Reserve is set to deliver its latest policy statement on Wednesday while the Bank of Japan is scheduled to conclude its two-day policy meeting on Friday. Additionally, the European Central Bank will release bank stress test results later in the week. The broader market ticked higher in the final hour as nine sectors trimmed their losses. The commodity-sensitive energy sector (-2.0%) ended at the bottom of the leaderboard, following industrials (-0.6%), and telecom services (-0.4%). Volume were below average at 757mil shares. US After Hours CLGX +6%, TXN +6%, CR +5%, LVS +4.4% on earnings/guidance, semi and casino names higher in sympathy... SANM -10.8%, NDLS -6.9%, GILD -4% on earnings/guidance. Asian equity markets are mixed despite the more negative sentiment on Wall St in US hours, though volatility is picking up ahead of the Fed and BOJ policy decisions later this week. Japan markets are especially unsettled with more headlines pertaining to the fiscal / monetary stimulus mix, with Nikkei225 falling over 1.5% and USD/JPY plunging some 150pips below 104.40. A Nikkei report before market open speculated the govt would double planned "extra spending" for 2016 in stimulus package to ¥6T, and Econ Min Ishihara later remarked it was important to take steps wot proceed with fiscal reform given the current situation. However, Fin Min Aso later said the size of economic stimulus is not yet decided and monetary policy is in BOJ's hands.
Nikkei -1.39% Hang Seng +1.16% CSI +0.60% Shanghai +0.60%
Eur$ 1.1011 CNH 6.6800 CNY 6.6760 JPY 104.40 GBP 1.3122 CHF 0.9847 RUB 65.3863 WTI $43.23 (+0.23%)
S&P +0.10% EuroStoxx+0.30% Dax +0.37% SMI +0.27%
Macro :
- Threats to U.S. Financial Stability Are Higher After Brexit: OFR
- Italy’s Adepp Readies Atlante 2 Bank Rescue Fund Investment
Keep an eye on :
- ABI BB : SABMiller board to meet to consider ABI offer recommendation after receipt of formal offer (Increased offer difficult, but not impossible, Bump in cash offer may void Altria and BevCo irrevocables, Attention turns to SABMiller investors Altria/BevCo's eligibility to vote) - Merger Market
- ALM SM : Almirall 1H Net Rises 37% to EU80.5 Million
- AMS SW : AMS Orders Positive, Gross Margin Negative, Baader-Helvea Says
- AUTN SW : Autoneum 1H Sales Rise, Ebit Margin Pre-Items Reaches Record
- COM GY : Comdirect 2Q Profit Jumps on EU41m One-Time Gain From Visa
- CBK GY : Commerzbank 2Q Net Income EU209m vs EU307m Y/y
- 1COV GY : Covestro 2Q Adj. Ebitda Beats Estimates, Raises 2016 Outlook
- DAI GY : Daimler Said to Invest in Hailo, Will Merge With MyTaxi: Sky
- DBHN GY : Dobrindt Says Profit Isn’t Deutsche Bahn’s Top Priority: Welt
- EUCAR FP : Europcar Cuts FY Forecasts Citing Terrorist Attacks, Brexit
- EOAN GY : EON, RWE Mandate Banks for Unit Spin Offs: Boersen-Zeitung
- EXO IM : Exor Board Approves Plan to Incorporate Co. in Exor Holding N.V
- LEY FP : Faiveley Transport 1Q Sales EU260M; Confirms 2016/17 FY Outlook
- EO FP : Faurecia Raises 2016 Targets; Now Seeks Op. Margin at Least 5%
- GEN DC : Genmab’s Daratumumab Gets FDA Breakthrough Therapy Designation
- GS US : Fed Said Preparing Action vs Goldman on Leak Case: NYT
- ICAD FP : Icade Says on Track to Meet Guidance, Raises Cash Flow Outlook
- ITP FP : Interparfums 1H Revenue Rises 10%; Confirms Full Year Guidance
- INW IM : Inwit 2Q Net Income EU25.1m, Up 18% Y/y
- LUX IM : Luxottica Says Assuming More Cautious Outlook for 2H 2016
- ML FP : Michelin 1H Profit Beats Estimate; 2016 Guidance Confirmed
- MITRA BB : Mithra Has Best Selling Month in June With 2.8% Mkt Share: Link
- MU US : Micron Poison Pill: ‘Friendly’ Acquirer May Benefit, Mizuho Says
- ORA FP : Orange 2Q Sales, Ebitda In Line With Ests.; Keeps Outlook
- PHIA NA : Philips CEO Says Medtech Acquisitions Possible: Boersen-Zeitung
- RAND NA : Randstad Says 2Q Europe Growth Continued, Rev. Stablized in U.S., CEO Says Low to Mid-Single Digit Growth Is New Normal
- RBS LN : RBS May Charge Negative Rates If BOE Cuts Below Zero: Sky
- RWE GY : EON, RWE Mandate Banks for Unit Spin Offs: Boersen-Zeitung
- SAZ GY : Activist AOC Proposes 4 Replacements for Stada Supervisory Board
- SO IM : Sogefi 1H Ebitda EU74.7m, Up 19.6% From EU62.4m Y/y
- TIT IM : Telecom Italia to Reduce Managerial Staff by 170
- UN1RV FH : Uponor 2Q Sales Beat Ests.; Keeps 2016 Guidance
- CSS FP : Vivarte Names Agent to Negotiate Debt: Le Figaro
- VOW3 GY : Skoda Mulls Other Markets, Including Iran, South Korea, HN Says
- VONN SW : Vontobel 1H Net Income Rises 6%; Reiterates 2017 Profit Targets
- WES NA : Wessanen 1H Autonomous Revenue Growth 8.6%; Repeats FY Guidance