The FTSE 100 is
called to open 88 points higher at 7202
UK Gilt 10 Year
Yield 1.033 Spot Gold $1270.98 -13.49 Brent Crude $52.72 +0.39
$ per £ 1.2787
€ per £ 1.1786
$ per € 1.0848
A relief rally
fueled by speculation that pro-growth centrist Emmanuel Macron will become
France’s next president was marred by a selloff in Chinese shares. The euro
jumped the most in a month while European equity futures soared after Macron
and far-right nationalist Marine Le Pen won the first round of voting. The yen
retreated and volatility ebbed, with gold dropping and 10-year Treasury yields
climbing. U.S. stock-index futures rose and Japanese shares led Asian equity
gains. Shanghai shares tumbled to the lowest since January amid heightened
regulatory scrutiny. Investors have been anxiously viewing the French vote in
the wake of last year’s Brexit referendum and Donald Trump’s victory in U.S.
elections. The result, in which both establishment parties were eliminated,
triggers a runoff on May 7 between two radically different visions of the
country’s future. Le Pen, who wants to take France out of the euro and clamp
down on immigration, has trailed Macron, a committed globalist, in almost every
opinion poll for the runoff by a margin of some 20 percentage points.
PRESS COMMENTARY
• The Times:
Europe’s highest court could still rule the City years after Brexit under plans
being considered by the government in order to win a wider agreement on access
to the single market.
Software AG Cut
to Hold at HSBC, PT EU40
COMPANY NEWS
Philips 1Q Rev.
Beats Est. Philips 1Q rev. EU5.7b, est. EU5.69b (range EU5.62b-EU5.8b).
Computacenter
says trading update is published earlier due to co.’s performance in 1Q and the
improved outlook for the full year.
LafargeHolcim
Ltd. Chief Executive Officer Eric Olsen has resigned amid an investigation into
payments the company made to keep a cement plant operating in war-torn Syria,
funds that may have ended up in the hands of Islamic State.
Becton Dickinson
to Buy C.R. Bard for $24 Billion. Becton will pay $317 per common share in cash
and stock in a deal approved by board of both companies, according to statement
on PRNewswire.
British Telecom
has filed a criminal complaint with Italian prosecutors over an accounting
scandal at its Italian unit, Reuters reports, citing the complaint it reviewed.
Interserve, the
international support services and construction group, has won a £36.5 million
contract to design and build a new secondary school in Caldicot, Monmouthshire,
South Wales. Source Quilter Cheviot
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