Dow-0.42% S&P-0.30% Nasdaq-0.20% Russell-0.05% VIX 14.01 (+5.66%)
US Market Closed Lower, S&P slide below its 50d MA. Stocks began the day with slim gains, but retreated from their opening levels during the initial hour amid reports today's Eurogroup meeting was suspended to give the Greek delegation time to submit a better proposal to the creditors. insurer Humana (HUM 197.37, +13.14) spiked during the afternoon and ended higher by 7.1% after Bloomberg reported the company received a takeover offer from Aetna. Volume were in line with average @ 750mil shares. Potash confirmed to have made a offer for K&S. Zoetis +11.4% during the session, 2.5% in after Hours after WSJ Reported Valeant made approach. US After Hours NKE +3.8%, MCZ +1.1%, MU -11.9%, SNX -8.9% following earnings/guidance. US Mkt weakness put pressure on asian Market, Shanghai Composite hit particularly hard in another Friday rout. Recall last Friday marked the crescendo of a 13% weekly decline with a 6% slump, and today the index was down as much as 6% in the morning session, falling within 30pts away of a 1-month low below 4,300. Analysts continue to hold active IPO process partially responsible for the heavy selling, with 28 companies having been approved to IPO this week estimated to freeze up some CNY1.5T in investment funds. Economic data out of Japan were mixed, with 18-year low in unemployment and bigger than expected household spending increase offset by 2-year lows in CPI. Nikkei225 was down slightly, but JPY was stronger across the board. Greek headlines, which did not give way to optimism overnight, remained just as downbeat in Asia and heading into the weekend. German chancellor Merker comments from Brussels indicated she would not commit to expecting a positive outcome, only stating that time for Athens is running out. French Pres Hollande also added that Greece needs better proposals to facilitate the process, and EU Pres Tusk stated there is no need for another euro summit over the weekend, deferring to Eurogroup summit expected to conclude deliberations on Saturday.
Nikkei -0.15% Hang Seng -1.63% Shanghai -6.13%
Eur$ 1.1189 JPY 123.37 GBP 1.5739 EURCHF 1.0487 RUB $54.70 WTI $59.82 (+0.18%)
S&P -0.02% EuroStoxx-0.91% Dax-0.76% SMI -0.80%
Macro :
- What Are Next Steps in Greece as Bailout Deal Remains Elusive
Keep an eye on :
- ADS GY : NKE +3.8% on better numbers
- ATC NA : Altice to Merge Entities to Boost Expansion Through Takeovers
- ATC NA : Altice Says Bouygues Rejected Phone Bid Without Seeking Details, Altice Says Offer Valued Bouygues Telecom at Minimum of EU10b
- ENEL IM : Enel Sees Chilean Ruling Next Month on Corporate Restructuring
- EUCAR FP : Europcar Groupe Offer Price EU12.25/Shr
- LG FP : Lafarge Sees Early Retirement for 200 French Workers: Agefi
- MT NA : Lakshmi Mittal Says Steel Market Doing Better Than Last Year
- POP SM : Spain’s Banco Popular Plans to Buy a Bank in US: Cinco Dias
- RCS IM : Mondadori to Present EU135m Offer to Buy RCS Libri: Messaggero
- SDF GY : K+S Said Likely to Reject Potash Corp. Takeover Proposal
- SDF GY : Potash/K+S Potential Deal Could Be Positive for Sector: Citi
- SDF GY : K+S Takeover Would Make Potash Corp. Largest Producer: Goldman
- GLE FP : Societe Generale Sells 1.4m Sopra Steria Shrs for About EU111m
- SPI LN : Cinven Sells 33.9m Spire Shrs at 340p Each for GBP115.2m
- VK FP : Vallourec Creates 3.09m New Shrs to Pay Dividend
- MF FP : Wendel Said to Get PE Interest For Stahl, May Refinance:Reuters