Asian markets were generally higher, but with little to push the markets, they drifted a bit directionless into mid-day break. USD/JPY started the day with a gap open at 112.06 after PM Abe’s LDP party suffered a blow in the Tokyo Governor elections. Chatter is there will be a re-shuffle of his cabinet by August and he may have to push back planned sales tax hike from Oct of 2019. The Q2 Tankan survey did little to shift the yen, as data came in a bit better than expected and improved from Q1. Japan’s final manufacturing PMI also confirmed expansion. The China/Hong Kong bond connected opened today. China Caixin manufacturing reached a 3-month higher which helped to bring the Shanghai Composite back into positive territory. PBOC again skipped open market operations for the 7th consecutive day. Financial press speculated on the $7.2B in dividends that offshore Chinese companies will payout in July and its impact on the yuan. According to press, Japan PM Abe may reshuffle cabinet as early as August. Casino names all lower after June Macau gaming rev was lower than expected, attributed to China President Xi’s visit to Hong Kong the last week of the month
Nikkei +0.13% Hang Seng +0.06% CSI -0.51% Shanghai -0.09%
Eur$ 1.1408 CNH 6.7813 CNY 6.7861 JPY 112.46 GBP 1.3002 CHF 0.9597 WTI$ 46.20 +0.35%
S&P +0.24% EuroStoxx +0.73% Dax +0.63% SMI +0.64% FTSE +0.31%
Macro :
- Saudi-Led Bloc Extends Qatar Deadline on Demands for 2 Days
- EU’s Vestager Says Received No U.S. Reaction to Google Fine
- Emerging-Market Assets Trim Biggest Rally Since 2009: Inside EM
- Hedge Funds Cut Nasdaq Futures Holdings to 12-Month Low: CFTC
- Caixin China June Manufacturing PMI 50.4; Est. 49.8
- Illinois House Passes Tax Hike as State Tries to Avoid Downgrade
- U.K. Government Now Accepts Painful Brexit Trade-offs: Guardian
- China, Russia Best Positioned to Weather G-10 Hawks, BofAML Says
Keep an eye on :
- AMUN FP : Amundi to Expand Its Business Via ’Organic Growth,’ Sole Reports
- BA/ LN : BAE Systems Wins GBP3.7b Ship Deal From U.K. Defence Ministry
- BAS GY : Triclosan is dangerous for university of Birmingham, brevet bought buy BASF to Novartis in 2008
- BAYN GY : Bayer Warning Has Mosaic, Compass, Agrium Read-Through: Stifel
- BAYN GY : Bayer Expects Brazil Mkt to Remain ‘Volatile,’ Handelsblatt Says
- BBVA SM : BBVA Frances Offers up to 95m Shares; Indicative Price: $6.23
- BOTHE BB : Bone Therapeutics Says Steve Swinson to Become Chairman
- EN FP : Free, Bouygues Telecom Complain Over Orange Fiber Rollout: Echos (Article in French sent earlier)
- BN FP : Danone Agrees to Sell Stonyfield to Lactalis for $875 Million
- DEDRL IT : Delek Drilling Says Tamar Reserve 13% Bigger Than Pvs Estimate
- DROPBOX IPO : Dropbox Said to Be Seeking to Hire IPO Underwriters: Reuters
- EDF FP : Paladin Says EDF Not Prepared to Enter Into a Standstill Pact
- ELAL IT : El Al Agrees on Terms to Merge Its Sun D’Or Unit With Israir
- ENGI FP : EU May Ask Gazprom to Add Suppliers to Nord Stream 2: Vedomosti
- EOAN GY : E.ON CEO Teyssen Rejects SPD Proposal to Cap Salaries: Focus
- GTO NA : Gemalto’s Potential Deal Could Be Valued Up To EU75/Share: UFP
- GSK LN : GSK Signs Drug Discovery Collaboration Deal With Exscientia
- GOOG US : Alphabet Says EU Antitrust Fine to Cut Profit by $2.74b
- HLDX SS : Haldex Chair: Knorr-Bremse Bid May Seek to Get Rid of Competitor
- HLDX SS : Knorr-Bremse Continues to Pursue Haldex Offer
- ILD FP : Free, Bouygues Telecom Complain Over Orange Fiber Rollout: Echos
- LGYZ SW : Toshiba Aims to List Landis+Gyr in Switzerland by End-Sept. (Bought it in 07/2011 for $2.3bil)
- LISN VX : Lindt’s Russell Stover Plans Stevia Chocolate in U.S., SamW Says
- NESN VX : Nestle Buyback to Begin Tomorrow, Co. to Cancel Shares
- NETS DC : Payments Company Nets A/S Confirms Potential Buyer Interest
- NSI NA : NSI Sells Large Scale Retail Portfolio for EU74m
- OPTI BB ; Option Targets Up To EU9M in Revenue for 2017, De Tijd Says
- ORA FP : Free, Bouygues Telecom Complain Over Orange Fiber Rollout: Echos
- UG FP : PSA to Start Using Chinese-Made Engines in Europe: Challenges
- RNO FP : Renault Samsung to Recall 62,000 Cars Over Sensor Defects
- CFR VX : Richemont Sells Shanghai Tang to Italian Entrepreneur Bastagli (bought controling stake in '98 & 100% in 08)
- SAY SM : Saeta Yield Cut to Hold at Santander, PT EU10.20
- SBRY LN : Sainsbury May Be Interested in Supply Deal With McColl’s: Mail
- SRT3 GY : Sartorius Has EU1.5 Bln Leeway for Acquisitions, CFO Tells BZ
- STL NO : Statoil Evaluating New Co2 Storage Project Offshore Norway
- TELE2 SS : Tele2 Says Court Rejects Its Claim for Interest Deduction
- TSLA US : Musk Says Model 3 Passes Regulatory Requirements for Production
- TKA GY : Thyssenkrupp, Tata Seek Clarity on Steel Merger This Month: HB
- TKO FP : Tikehau Must Pay EU0.28m in French Markets Regulator Probe
- FP FP : Iran, Total to Sign S. Pars Gas-Field Deal on Monday: Official
- FP FP : Total Said to Target 5m Gas/Electricity Clients in France: BFM
- UN01 GY : Uniper Could Invest in Sweden Reactor After Tax Agreement: CEO
- UN01 GY : EU May Ask Gazprom to Add Suppliers to Nord Stream 2: Vedomosti
- VWS DC : Vestas Gets 200-Megawatt Order in U.S.; Total 2Q Orders 1,956 MW
- VOW3 GY : Volkswagen to Recall 385,000 Cars in Germany: Bild
- VOW3 GY : VW’s France Sales Numbers Were Falsified for Years, Spiegel Says