MARKET UPDATES 28/06/2016

The FTSE 100 is called to open 91 points higher at 6073
UK Gilt 10 Year Yield 0.9345 Spot Gold $1318.45 -6.30 Brent Crude $48.42 +0.56
$ per £ 1.3285
$ per € 1.1058...
€ per £ 1.2012
U.S. stocks continued a rout sparked by Britain’s shock vote to leave the European Union, with the Dow Jones Industrial Average falling 260 points after equities on Friday tumbled the most in 10 months. Banks remained the focal point in the downdraft, with no sign of the pummeling letting up as lenders marked the worst two-day drop in almost five years. Bank of America Corp. and JPMorgan Chase & Co. sank more than 3.3 percent. Raw-material and industrial shares also posted the steepest back-to-back slide since 2011. Sentiment was dealt another blow after S&P Global Ratings today cut the U.K.’s top credit grade by two levels. The S&P 500 Index dropped 1.8 percent to 2,000.54, holding at the lowest since March 10. The benchmark fell below its average prices during the past 100 and 200 days. The Dow Jones Industrial Average lost 260.51 points, or 1.5 percent, to 17,140.24, after falling more than 600 points Friday. The Nasdaq Composite Index decreased 2.4 percent to an almost four-month low. About 10.6 billion shares traded hands on U.S. exchanges, 48 percent above the three-month average.
PRESS COMMENTARY
It is Britain’s greatest global export but the English language could be banned from the heart of Europe after Brexit, The Times
The UK’s tourism industry is poised to benefit from Britain’s vote to leave the EU, as the crashing value of the pound attracts an influx of international visitors and encourages Britons to take “staycations”, FT.
COMPANY NEWS
Old Mutual PLC on Tuesday detailed plans for its previously announced decision to separate its business units and said that Britain's decision to leave the European Union may impact the performance of its underlying businesses by increasing market volatility.
Rolls-Royce Total Trading in First 5 Months ‘Broadly’ in Line.
Redrow PLC reported pretax profit for the year to June will be above the top end of analysts' estimates of 240 million pounds ($319.4 million) and said it is too early to tell whether Brexit will have any effect on future sales.
John Wood Group PLC (WG.LN) has been awarded a multimillion dollar contract to provide engineering and design, and procurement services to South Atlantic Holding for the development of the Peregrino field wellhead platform C, offshore Brazil.
Ocado Group PLC reported a slow-down in profit growth for the first-half, but said it looks forward to the future with confidence.
AstraZeneca PLC announced that the European Commission has approved the use of its infection treatment Zavicefta.
Legal & General Group PLC said it has appointed John Kingman as chairman.Sourece Quilter Cheviot.www.finance-spain.com

MARKET UPDATE 13/06/2016

The FTSE 100 is called to open 52 points lower at 6063
UK Gilt 10 Year Yield 1.2318 Spot Gold $1281.95 +8.30 Brent Crude $50.27 -0.41.

$ per £ 1.4214
$ per € 1.1258
€ per £ 1.2625

U.S. stocks retreated, with the S&P 500 Index falling the most in three weeks, amid caution over tepid global growth and a series of looming events with the potential to spur renewed market turbulence.
Losses intensified in afternoon trading following fresh poll results favoring an exit in Britain’s European Union referendum, though a rebound in the final minutes pared declines. Energy producers led the slide, capping their worst session in five weeks. Banks sold off for a second day as Treasury yields continued to drop, with Citigroup Inc. and Bank of America Corp. sinking more than 2.4 percent. A measure of equity market volatility posted the biggest jump in five months.
The S&P 500 fell 0.9 percent to 2,096.07 at 4 p.m. in New York, slipping below 2,100 for the first time in a week, a level where other rallies during the past year have faded. The Dow Jones Industrial Average dropped 119.85 points, or 0.7 percent, to 17,865.34. The Nasdaq Composite Index lost 1.3 percent, the largest decline in two months. About 6.8 billion shares traded hands on U.S. exchanges, 3 percent below the three-month average.
PRESS COMMENTARY
Financial Times: China’s corporate debt risks sparking a bigger crisis if the authorities fail to tackle it, the International Monetary Fund has warned.
COMPANY NEWS
Monsanto Said to Rebuff New Bayer Offer at Same Price: DJ.
Satellite communications services company SpeedCast International Ltd (SDA.AU) has agreed to use satellite operator Inmarsat PLC's (ISAT.LN) new broadband service for boats in its maritime services offering.
EasyJet PLC (EZJ.LN) founder Stelios Haji-Ioannou Thursday said he welcomed the appointment of Nico Bezuidenhout as chief executive of fastjet PLC (FJET.LN). Mr. Haji-Ioannou said Mr. Bezuidenho ut was on a list of candidates from a headhunter he had hired last November.
GVC - Awarded a gaming licence by the New Jersey Division of Gaming and Enforcement after the acquisition of Bwin-Party required an reapplication. Source Quilter Cheviot

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