Monday, June 13, 2016

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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