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