A slide in Chinese equities and the regional spread of the delta Covid-19 variant weighed on Asia’s stock market Friday, restraining sentiment despite positive vaccine developments and a record U.S. close. Oil climbed.
China’s CSI 300 index tumbled following Thursday’s centennial celebrations for the Communist Party. Some investors viewed the event’s conclusion as increasing market risks. Shares rose in Japan and Australia. S&P 500 contractswere stable after the U.S. index posted its longest winning streak since February, helped by cyclical sectors like energy. Nasdaq 100 futures retreated.
Crude traded above $75 a barrel, around the highest since 2018, after the OPEC+ alliance descended into infighting, casting doubt on an agreement that could ease a surge in prices.
The dollar held a climb and Treasuries were little changed ahead of Friday’s monthly payrolls report, which will help guide views on when the Federal Reserve may start pulling back on stimulus. Philadelphia Fed President Patrick Harker said cutting asset purchases by $10 billion a month might be reasonable and that he favored starting the process this year, according to a report.
US After Hours Quiet after hours; IMF raises GDP view; CRNC +7.7% higher as it will join S&P MidCap 400; HMN +1% ticks higher on raised guidance
Nikkei +0.22% Hang Seng -1.69% CSI -2.62% Shanghai -1.86% Shenzen -1.75%
Eur$ 1.1846 CNH 6.4827 CNY 6.4778 JPY 111.58 GBP 1.3772 CHF 0.9260 RUB 73.3715 TRY 8.6826 WTI$ 75.26 +0.04% Gold 1,778 +0.07% BTC 33,000 +165 ETH 2050 -30
S&P +0.03% Nasdaq -0.19% EuroStoxx +0.31% FTSE +0.31% Dax+0.20% SMI +0.24%
Macro :
- Fed Likely Needs to Raise Rates as Soon as Late 2022, IMF Says
- Global Tax Overhaul Endorsed by 130 Nations as Deal Gets Closer
- Goldman Said to Seek $4 Billion for Newest Infrastructure Fund
- OPEC+ Oil-Supply Hike in Doubt as Key Member Blocks Deal
- Jobless Claims Suggest Downside Risk for Payrolls
- Banker’s Portrait of Racism at HSBC Prompts an Internal Probe
Spacs :
- Abu Dhabi Sovereign Fund Mubadala Prepares Launch of 2 SPACs: FT
- SPAC Falcon Closes Sharecare Merger, Starts Trading Friday
Keep an eye on :
- ABBN SW : ABB Plans $3b IPO of EV Charging Unit Next Year: Reuters
- AKH NO : Aker Horizons’ Mainstream Gets Snr Debt Funds for Chile Project
- AMBU DC : Ambu Cuts FY Ebit Margin Before Items Forecast
- ASMI NA : ASMI Prelim 2Q Orders Above EU500M
- CABK SM : CaixaBank, Unions Agree to 6,452 Job Cuts, Expansion Reports
- COIN US : Robinhood Reveals Dogecoin Powered 34% of Its Crypto Revenue
- COIN US : Robinhood Targets Valuation of at Least $40B in IPO: FT
- DAI GY : Germany to Reach Goal of 1 Million EVs This Month: Tagesspiegel
- DNUT US : Krispy Kreme Jumps 24 % After Opening Below IPO Price
- EDP PL : Portuguese Electricity Demand Rose 6.7% in June, REN Says
- EQT SS : EQT, Goldman Near Deal for Parexel for Nearly $9b Incl. Debt: DJ
- EL FP : Essilorluxottica Completes Purchase of GrandVision Stake
- EUCAR FP : *HERTZ GAINS 23% ON FIRST SESSION AFTER EMERGING FROM BANKRUPTCY
- FTK GY : FlatexDEGIRO Shareholders to Sell About 2.5%-3.0% Stake
- GLJ GY : Grenke 1H Leasing New Business CM2 EU143.6M Vs. EU194.3M Y/y
- GYM LN : Gym Group Seeks GBP31 Million From Share Placing to Fund Growth
- HAL NA : Essilorluxottica Completes Purchase of GrandVision Stake
- ICO SS : Iconovo Considers Directed New Share Issue
- IMB LN : Dart’s Spring Mountain Raises Holding in Imperial Brands to 4%
- ITX SM : France Probes Fashion Brands on Alleged Uyghur Forced Labor: AFP
- JD/ LN : JD Sports Shareholders Vote to Remove Andrew Leslie From Board
- KINDSDB SS : Kindred Acquires Relax at Implied Valuation of up to EU320 Mln
- LEAS BB : Leasinvest Signs 12-Year Monteco Lease With Bank Nagelmackers
- LUN DC : Denovo in-Licenses Alzheimer’s Disease Asset From Lundbeck
- MB IM : Italy’s Billionaire Del Vecchio Raises Mediobanca Stake to 18.9%
- KN FP : BPCE Offer for Natixis Extended Until July 9: AMF
- NELES FH : Valmet and Neles to Merge, Implied Value/Neles Share EU14.22
- PAH3 GY : CNBC: Porsche ramps up its EV roadmap but will still invest in gas cars, North America CEO says https://t.co/XQMlkhubtr
- PSH NA : Pershing Square Holdings June Net Performance -2.2%
- RBREW DC : Royal Unibrew Agrees to Buy Solera for DKK770 Million
- SFER IM : Salvatore Ferragamo Confirms CEO Le Divelec Lemmi to Leave
- SMCP FP : France Probes Fashion Brands on Alleged Uyghur Forced Labor: AFP
- STLA US : FCA US Reports 32% Increase in 2Q Sales Y/y
- UCG IM : UniCredit Expects Higher Provisions in 2H as Moratoria Expires
- VOLVB SS : Volvo, Union in Tentative Pact to End Strike at Virginia Plant
- VOW3 GY : Glass Lewis Urges Vote Against Ratifying VW Boards
- VOW3 GY : Germany to Reach Goal of 1 Million EVs This Month: Tagesspiegel