Dow-0.73% S&P-0.61% Nasdaq-0.96% Russell-0.93% VIX
US Market close lower, closing 200d MA...Chinese Market plunge 8.5%, biggest one day decline in more than 8y, Shanghai is down 28% from June highs. Europe followed also chinese market closing lower. Nine sectors finished the day in negative territory with all six cyclical groups ending in the red. energy sector (-1.4%) settled at the bottom of the leaderboard while crude oil fell to early April levels, ending lower by 1.6% at $47.39/bbl. Utilities was the only sector closing higher(+1.3%), healthacre was boosted by TEVA+16,4%. Volume were ahead of average @ 900mil shares...US after Hours KN +10.2%, GIG +7.2%, MSTR +6.6%, AMDA -40.6%, AMKR -12.6%, BIDU -7.0% following earnings/guidance...Shanghai Composite opened down by over 4% and extended those declines above 5% to new 2-week lows in the opening hour, but has pared most of those losses and entered midday break down just 1% but back in negative territory now down almost 3%. Policymakers are looking to relieve the concerns that sent the markets plummeting in the afternoon session overnight, with securities regulator CSRC insisting that its China Securities Finance (CSF) is still present in the market and prepared to increase stock purchases if necessary.PBoC also promised to do its part, reiterating it will maintain "prudent" monetary policy, keep moderate liquidy, and continue supporting economic development. To that end, the PBoC injected another CNY50B via its 7-day reverse repo open market operations. PBoC also maintained that economic indicators are showing some modest improvement. In contrast, the planning body NDRC warned the economy is facing downward pressure, promising to boost construction of key projects in H2. In equities, Baidu beat on the top and bottom lines, but shares traded down by over 6% in extended US session. Analysts remarked that markets are skeptical of China internet giant's continued aggressive spending plans.
Nikkei +0.03% Hang Seng +1% Shanghai -2.75%
Eur$1.1066 JPY 123.58 GBP 1.5570 EURCHF 1.0661 RUB $59.7475 WTI $$&.18 (-0.44%)
S&P +0.42% EuroStoxx +0.40% Dax +0.26% SMI +0.45%
Macro :
- China May Widen Yuan Trading Band ‘Soon’, UBS Wang Tao Says
Keep an eye on :
- ANA SM : Acciona Mulls Merging Renewables With KKR, Confidencial Says
- ALO FP : Alstom to Accept Lower Purchase Price From GE to Get EU Approval
- ALO FP : Alstom Offer to GE Equals EU1 Per Share for French Co.: JPMorgan
- AIXA GY : Aixtron 2Q Sales Miss, Net Loss Exceeds Ests.
- BP/ LN : BP Given 30 Days to Pay $1b in Gulf Coast Settlements: NYT
- DB1 GY : Deutsche Boerse 2Q Net Income Rises to EU583.1m vs EU491.2m y/y, Sees Net Rev. Increases of 5%-10% Annually
- DECB BB : Deceuninck Vice Chairman Van Eeckhout Buys EU820,058 of Stock
- DIA SM : Dia 2Q Adj. Ebitda Beats Ests.
- ELE SM : Endesa 1H Net EU870m, Beating Estimate of EU754.6m
- EIT IM : EI Towers Plans Small Acquisitions Through Unit: Repubblica
- FCA IM : Fiat Chrysler Offering Incentives to Participate in Recall
- GFT GY : GFT to Sell Emagine Unit, Reduces 2015 Forecasts to Reflect Sale
- KER FP : Kering 2Q Gucci, Luxury Unit Comp Sales, 1H Profit Beat Ests.
- LUX IM : Luxottica 2Q Adj. Oper. Income Beats Ests., Confirms Outlook
- MAIL LI : Sony Drops Lawsuit, Reaches Deal With Mail.ru’s VK: Vedomosti
- MAN GY : MAN Cuts FY Forecast, Takes EU170m Restructuring Charge
- MERY FP : Mercialys Raises 2015 FFO Growth Target to 3% From 2%
- ML FP : Michelin 1H Profit EU1.26b, Est. EU1.29b; FY Forecast Confirmed
- MXTV FP : NextRadioTV CEO Weill Offers to Quit Iliad Board: Les Echos
- ORA FP : Orange 2Q Sales, Ebitda Exceed Ests.; Keeps Outlook Unchanged
- ORA FP : Orange Will Be One of Europe’s Consolidators, CFO Says
- RSA LN : Zurich Evaluating Potential Offer for RSA Insurance Group
- SAGA LN : Saga Shares Offered at 205p to Market Price in Block Sale: Terms
- SAN FP : Sanofi Signs $2.2b Pact W/ Regeneron on Immuno Cancer Therapies
- SAN FP : Sanofi Will Recommend Dengue Vaccine For Older Children
- HO FP : Thales Close to Getting EU1B London Metro Contract: Tribune
- VOW3 GY : VW Passes Toyota to Lead Global Sales in First Half of 2015