Dow+0.67% S&P+0.92% Nasdaq+1.47% Russell+1.26% Vix 2 13.27 (-5.62%)
US Market closed higher. Mkt rallied on news of Greek officials & Eurogroup members have started crafting a staff-level agreement to secure funds for the country. Reports are saying that two sides have yet to begin working on joint statement. Jeweler Tiffany & Co (TIF 94.54, +9.01) surged 10.5% following better than expected results while Michael Kors (KORS 45.93, -14.66) plunged 24.2% after reporting a one-cent miss and guiding Q1 results below analyst expectations. Also of note, homebuilder Toll Brothers (TOL 36.16, -0.83) lost 2.2% after reporting a two-cent beat on light revenue and narrowing its guidance. energy sector (-0.1%) lagged throughout the session as crude oil struggled, falling 0.8% to $57.57/bbl. Volume were in line with average @ 707mil shares. US After Hours, Broadcom is in Advanced Talks to be Bought by Avago Technologies... NEPT +3.6%, PLKI +3.0%, KMPH +1.7%, TLYS -8.5%, SMTC -7.0%, ANW -1.2% following earnings/guidance, RALY +42.5% (to be acquired by CA Technologies (CA) for $19.50 per share)...Asian indices are mixed despite the broad-based gains on Wall street. Sentiment in China is particularly fragile, as more brokers followed suit with higher margin requirements on growing worries of runaway credit bubble fuelling the equity market. Shanghai Composite entered midday break at its lows down 1.4% on margin adjustments by Guosen Securities and Southwest Securities among others despite fresh fiscal plans from policymakers. China vice Premier Zhang announced the govt will boost transport investment to stabilize economic growth, while CBRC head noted the regulators could allow extending maturities on construction loans to developers to help keep credit lines in the property market open... BOJ Gov Kuroda reiterated Japan is on track to achieving 2% inflation target in H1, adding there were not asset or stock market bubbles. On currency, Kuroda said the market reflects fundamentals of US being the most robust economy at this time. USD/JPY hit new 12-year highs on the passive stance by the central bank despite the recent parabolic yen selloff, rising some 70pips from the lows above ¥124.20. Separately, Japan retail sales were sharply higher, rising 5% y/y due to the rolloff of consumption tax hike last April. Sequentially, retail trade was up 0.4% - below expectations.
Nikkei +0.19% Hang Seng -1.80% Shanghai -2%
Eur$ 1.0914 JPY 123.84 EURCHF 1.0350 GBP 1.5360 RUB $51.9254 WTI $ 57.76 (+0.43%)
S&P -0.13% EuroStoxx -0.35% Dax -0.26% SMI -0.10%
Macro :
- Greece Said to Owe Intl Drugmakers Over EU1.1b: Reuters
- China to Become Germany’s Largest Trade Partner by 2030: HB
- Nowotny Sees No Flexibility on Greece Financing, CNBC Reports
Keep an eye on :
- ADS GY : Nike’s Deal Seems to Track U.S. Claim of FIFA Bribery in Brazil
- AIR FP : Boeing Isn’t Seeing Fluctuation in Demand From Oil Prices
- CAI AV : CA Immobilien 1Q FFO I EU21.8m vs EU16m Y/y; Target Raised
- DTE GY : German Mobile Spectrum Auction Reaches EU1.6b After 11th Round
- DWNI GY : Deutsche Wohnen Capital Increase Price Set at EU21.50
- EOAN GY : E.ON Cut to BBB+ from A- by S&P, Outlook Stable
- ERICB SS : Ericsson Unlikely to Acquire Juniper or Ciena, Citi Says
- LEY FP : Faiveley Transport Targets Sales of EU1.3B in 2017-18
- DEC FP : JCDecaux Files Plan to Buyback Shares at 40 Euros Per Share: AMF
- PTC PL : P. Telecom Board to File Legal Action vs Prior External Auditor
- SRP LN : Serco to Name Centrica Ex-CEO Gardner Chairman, Sky Says
- SOI FP : Soitec Says Refocusing Plan on Core Business Progressing Well
- PC IM : UniCredit CEO Says Counterbid for Pirelli Unlikely: Reuters
- YPSN SW :