US Market slighty higher, sentiment was boosted today by M&A with 3 deals annoucement, Apple (AAPL 93.70, +1.48) rose 1.6% on its first day of trading after the recent 7:1 share split. The industrial sector finished ahead of the broader market, but the strength among defense contractors (PHLX Defense Index +0.8%) masked the underperformance of transport stocks, cyclical sectors finished in line with or ahead of the broader market, the same could not be said for the four defensive groups. The telecom services sector tacked on 0.1%, while consumer staples (-0.1%), health care
(-0.5%), and utilities (-0.7%) settled in the red, Consumer staples spent the bulk of the session in negative territory, volume continue to be below average @ 595mil shares...VIX @ 11.15 +3.91%...- Overnight, PBoC announced targeted reserve requirement ratio (RRR) cut of 50bps for certain qualified entities, covering 65% of urban banks and 80% of
rural banks. PBoC also warned the direction of monetary policy has not changed, and that it would maintain a prudent policy approach....May CPI hit a 4-month high of .5%, beating estimate of 2.4%, as food CPI component spiked up by 4.1%. NBS...Nikkei -0.85% HS+0.74% Shanghai+0.91%...
Eur$ 1.3595 S&P Fut -0.29% European fut -0.03%
Macro
- IMF's Lagarde: There is a risk that the economy could encounter a period of low inflation; emerging markets are supply the majority of global growth
- Weidmann Says ECB Measures Were ‘Wake-Up Call’: Boersen-Zeitung
- China May Retail Auto Sales Rise 13.2% on Year, PCA Says
Keep an eye on :
- ACX SM : Acerinox to Maintain Dividend Payment, Expansion Says
- BAR BB : Pandora Ests. Boosted Most in SXQP, Swatch Among Biggest Cuts
- BMPS IM : Paschi PT Cut 94% to EU1.35 Post Rights Issue at Exane
- EN FP : Iliad’s Bid for Bouygues Telecom Said to Stumble Over Price Gap
- EN FP : Bouygues Telecom Plans Price Cuts to Challenge Free, Figaro Says
- CRG IM : Top Investor in Carige to Sell 11% Stake by Tuesday: Reuters
- CU FP : Bonomi Hires KPMG, McKinsey to Advise on Club Med, Echos Says
- DGE LN : Diageo Eliminates About 200 Jobs Amid Cost Cuts: Telegraph
- EDF FP : Proglio Denies Report He Used Job to Benefit Wife: Monde Link
- ELIOR IPO : Elior Said to Narrow IPO Price Range to EU14.50 to EU15/Shr
- OGZD LI : Russia Insists on $2b Gas Payment Before June 10 Deadline: IFX
- IMT LN : Imperial Tobacco Intends to Float Logista on Spanish Market
- PUB FP : Publicis Gets Approval for Up to EU1.84b Share Buyback
- OMV AV : OMV Petrol Ofisi AS Iraq govt says it may take punitive measures against OMV or other Turkish interests for buying oil from the Kurds
- TCH FP : Technicolor Agrees to Buy Canadian VFX Studio Mr. X Inc
- UHR VX : Pandora Ests. Boosted Most in SXQP, Swatch Among Biggest Cuts