Dow+0.79% S&P+0.70% Nasdaq+0.53% Russell+0.21 VIX 16.11
US MArket Closed higher. US is all about Greece...Equities surged out of the gate amid reports from Europe indicating Greece is now ready to accept all conditions in order to secure a bailout. GErman reiterated that talks will not resume until after Sunday's referendum, adding that "a compromise at any price" is not worthwhile. Similarly, Eurogroup Chief Jeroen Dijsselbloem said he does not see the need for a resumption of talks ahead of Sunday's referendum. Greek Prime Minister Alexis Tsipras reiterated his call for a ‘no' vote during Sunday's referendum. Nine sectors were able to end the day with gains while energy (-1.3%) struggled. WTI crude settled lower by 4.2% at $56.94/bbl, Near Iranian settlement put more pressure on Oil. Airlines were not boost by oil price trading down, Sector traded down after the Department of Justice confirmed a probe into potential collusion in the industry. Volume were ahead of average @ 840mil shares...US After Hours PRGS +6.6%, FC -0.3%, FDO -0.2% following earnings/guidance...XOOM +21.3% to be acquire by payapl @$25/sh{NSN NQTVTCMEQTXC<Go>}...Asian indices are trading mixed ahead of a key US non-farm payrolls report following Wednesday's 6-month high in ADP jobs earlier, along with marginal improvement in US ISM manufacturing. Shanghai Composite was once again the notable decliner, falling as much as 3% before a rebound and down again. Chinese press reported Shanghai Exchange could allow real estate to be used as collateral in margin call. Another local press report suggested China govt could announce new fiscal stabilizing measures based on economic conditions. In Japan, BOJ Q2 Tankan survey for CPI saw expectations for 1-year remaining at 1.4%, 3-year was lowered to 1.5% from 1.6% and 5-year unchanged at 1.6%. Note that these forecasts are still well below the 2% target anticipated to be achieved by H1 of 2016... IMF's Lagarde said she was hopeful the voting will bring more clarity, and it is increasingly evident that creditors are clamoring for referedum to weaken Syriza with the likely YES vote and potentially bring about a change in govt toward a more pro-austerity one. Greek press polls saw expectations for the YES vote at 47.1% vs 43.2% for a NO vote. Moody's also cut Greek sovereign by one notch to CAA3 and placed it on review for a further downgrade.
Nikkei +1.12% Hang Seng +0.53% Shanghai -2.15%
Eur$ 1.1070 JPY 123.38 GBP 1.5609 CHFEUR 0.9555 RUB $55.8367 WTI $57.09 (+0.21%) GOLDS 1,167.72 (not Far from lows)
S&P -0.08% EuroStoxx +0.08% DAx+0.12% SMI+0.02%
Macro :
- Dijsselbloem Says No Grounds for More Talks Ahead of Greek Vote
- Dijsselbloem Reminds Tsipras of Greek Pledge to Honor Debts
- Iceland Raises Aviation Alert Level Citing Seismic Activity
- Greek ‘Yes’ Has 47.1% Support, ‘No’ 43.2%: GPO Poll in Euro2day
- EU, Greece Were EU60m Apart, Juncker Tells Allies: Politico
- Greece Cut to Caa3 From Caa2 by Moody’s, May Be Cut Further
Keep an eye on :
- A2A IM : A2A to Appeal Arbitration Ruling Requiring EU37.9m Payment
- AC FP : Added to top Underperforme at CS
- AIR FP : Airbus Considers Manufacturing Airplane Parts in Vietnam: Govt
- ALO FP : Alstom Wins EU170M Rhone-Alpes Train Contract, Echos Says
- AMS SM : Amadeus to Buy Accenture’s Navitaire for $830m
- ASSAB SS : Assa Abloy, Babcock Added to Credit Suisse Europe Top Picks
- BAB LN : Assa Abloy, Babcock Added to Credit Suisse Europe Top Picks
- BRBY LN : Added to top Underperforme at CS
- DTE GY : Dish Waiting for DTV/T Approval Before Pursuing TMUS: Gasparino
- ELUXB SS : GE Unit Sale to Electrolux Said to Be Opposed by Antitrust Staff
- ELUXB SS : Electrolux Contests U.S. Effort to Block Purchase of GE Unit
- EOAN GY : Eon Says Uniper Won’t Be German Energy Industry’s Bad Bank: HB
- FNC IM : Finmeccanica, Fincantieri Gets EU1.1b Italian Navy Contract
- GLJ GY : Grenkeleasing 1H Leasing’s New Business Rises 15%
- IBE SM : Iberdrola, UIL Ask Connecticut to Extend Merger Review
- IHG LN : InterContinental Hotels Group shares gain on bid hopes
- ISP IM : Intesa Sanpaolo Said to Get Interest in A4 Holding Stake:Reuters
- LONN VX : Lonza Reports Added Long-Term Product Supply Pact With Alexion
- MS IM : Sky Offered EU1.1b for Mediaset Premium Pay-TV Unit: Radiocor
- MYRN SW : Gotham City Discussed Myriad Group as Short Idea at FT Conf
- NUM FP : Numericable in Dispute With City of Paris, Les Echos Says --> See Le Monde Artcile sent Yest. night
- EGL PL : Mota-Engil to Announce New Building Projects Soon, CEO Says
- PC IM : Pirelli bidder ChemChina seeks to convince hedge funds it will not boost public offer - Il Sole 24 Ore
- GLE FP : SocGen CEO Oudea Says Euro Region Can Handle Any Greece Scenario