Dow -0.61% S&P -0.68% NAsdaq -0.82% Russell -1.50%
US Market closed on a lower note following Europe. Italian Banks, The pound, Crude Oil downturn on genscape datas, WTI crude ended its session lower by 4.7% ($46.73/bbl; -$2.28). Eight sectors ended in the red with energy (-1.9%), materials (-1.9%), and financials (-1.5%) rounding out the board. The remaining cyclical sectors ended with losses between 0.7% (technology) and 0.9% (industrials). On the flipside, countercyclical sectors outperformed as utilities (+0.7%), consumer staples (+0.5%), telecom services (UNCH) and health care (-0.1%) each benefited from safe-haven inflows. Buyers step in in the the last hour. Volume were above average @ 955mil shares. US After Hours MDVN +1.3% after confirming entry into confidentiality agreements with Sanofi, others; confirmed revised takeover offer from Sanofi, which it rejected ($58.00/share in cash & up to $3.00/share in CVR); GBIM -47% after announcing it would move to delist and deregister its common stock. TSLA -0.93% on report of another accident of Tesla operating autopilot mode. Asian equity markets are tracking the losses in US hours, tumbling across the board as investors flee to the safety of bonds and gold. Brexit fears are fully blown yet again after the latest BOE financial stability report released overnight underscored risks from Brexit beginning to materialize, with worries over deterioration in demand for UK assets becoming more acute. GBP/USD extended its losses with an even steeper plunge in Asian hours as Cable pierced the 1.30 handle on its way to session low of 1.2790 - down about 250pips from session's highs. USD/JPY was down over 100pips below 100.70, dragging Nikkei225 down by over 3%. Gold is also bid up by nearly $15 in Aug contract above 1,370 - a 2-year high. Cautious sentiment is exacerbated by Fed-speak unwilling to pivot toward a more accommodative - Fed's Williams said his personal view of US economy has not changed based on Brexit, adding that a hike this year may still be appropriate if economic forecasts hold.
Nikkei -2.46% Hangh Seng -1.71% CSI -0.02% Shanghai +0.13%
Eur$ 1.1048 CNH 6.7038 CNY 6.6930 JPY 101.09 GBP 1.2907 CHF 0.9783 RUB$64.55 WTI$ 46.55 (-0.11%)
S&P -0.30% EuroStoxx -0.90% Dax -1.03% SMI -0.37%
Macro :
- Brexit Erodes U.K. Economic Pillars, Property Investors Flee
- Gold Jumps to Two-Year High as Bullish Wagers Surge on Turmoil
- Brexit Offers Safety Valve to $800 Billion Emerging Company Debt
- Italy Considering Giasone Bank Fund to Help Paschi: Repubblica
- Morgan Stanley Expects Further Stress in U.K. Property Funds
- Car-Parts Industry M&A to Accelerate: Roland Berger, Lazard
Keep an eye on :
- ATLN VX : Actelion Starts Phase 3 Study on Macitentan
- AI FP : Air Liquide Confident in Growth Outlook, Gives 2016-2020 Goals
- BABA US : Alibaba Interested in Reaching Out to Greek SMEs: Greek Official
- BAYN GY : Bayer May Agree to Pay More After Seeing Monsanto Books: UFP
- BMPS IM : Italy Mkt Regulator Bans Short Selling on Monte Paschi July 6
- BMPS IM : Atlante Fund Could Spend EU1.7b on Paschi Bad Loans: Sole
- CVX US : Chevron approves $37bn Kazakhstan oilfield expansion
- CBK GY : Commerzbank May See More Cost Reductions, Job Cuts: Handelsblatt
- CNHI IM : Truckmakers Said to Face Record EU Fines in Price-Fixing Probe
- DAI GY : Truckmakers Said to Face Record EU Fines in Price-Fixing Probe
- DB1 GY : Deutsche Boerse to Sell Market News International, No Terms
- FINGB SS : Fingerprint Cards New CEO Buys His First Shares in the Company
- GSK LN : The Graying Face of HIV Spurs Race to Simplify Therapies
- ILD FP : Iliad in Pact to Be 4th Mobile Network Operator in Italy
- ILD FP : Swisscom’s Fastweb Hopes Iliad Plan Guarantees Competition
- ITV LN : British TV network could be bought after shares plunge - NY Post
- LSE LN : Deutsche Boerse Suggests Double Holding for LSE Merger: SZ
- NOVN VX : Novartis Says Alcon Resolves U.S. Case on Iran Sanctions
- SAN FP : improved MDVN Offer to $58/share in cash + $3/share CVR - MDVN Rejected offer
- SAN FP : Sanofi in Research Pact With U.S. Army for Zika Vaccine
- SIE GY : Dong, Siemens Exploring Sale of Jointly Held A2Sea Unit: Borsen
- SCMN VX : Swisscom’s Fastweb Hopes Iliad Plan Guarantees Competition
- TIT IM : -ve comments on Iliad news of entering the italian mobile market.
- FP FP : Total Says Yamal LNG Continues Talks W/ Intl Lenders: Kommersant
- VOD LN : Vodafone Said to Be Frontrunner to Buy Telenor India Ops: ET
- VOW3 GY : Truckmakers Said to Face Record EU Fines in Price-Fixing Probe
- YNAP IM :