June 26th, 2015

Daily Market Commentary



  • Private Loans in the Eurozone were up 0.5% in year-over-year terms, above estimates.
  • Consumer Confidence in Italy was reported at 109.5, above estimates.
  • Consumer Confidence in France was reported at 94, also above estimates.


  • Oil held losses below $60 a barrel as near-record U.S. production prolonged an oversupply amid the lowest trading volatility in eight months.
  • Copper was poised for its first weekly rise in six weeks as investors looked to signs of stronger growth in the U.S. and China amid a continued stand-off between Greece and its euro-area creditors.


  • German potash supplier K+S AG gained as much as 39 percent in Frankfurt trading following a $8.6 billion-plus takeover offer from Canadian fertilizer producer Potash Corp. of Saskatchewan Inc.
  • Over 4,000 Air Canada customers service, sales representatives have ratified new 5-yr agreement, Unifor says in filing.
  • Alfa SAB and Harbour Energy Ltd. said they wouldn’t raise their takeover bid for oil producer Pacific Rubiales Energy Corp., two days after adviser Institutional Shareholder Services Inc. recommended investors reject the deal.

United States:

  • U.S. stock-index futures were little changed, after a two-day decline dragged equities toward a weekly loss.
  • Nike Inc.’s fourth-quarter profit topped analysts’ estimates after the company released new products and won market share from its athletic-gear rivals.
  • Barack Obama’s legacy as the president who reshaped the U.S. health-care system withstood its biggest challenge since 2012 when the Supreme Court ended any immediate threat that millions might lose medical coverage.


  • European stocks fell for a third day as talks to resolve Greece’s debt crisis were pushed to the weekend.
  • Air France said it remains in negotiations with employees about cutting costs, denying a report that it will slash an additional 3,000 positions, including pilots.
  • As turnover in Denmark’s repo market shrinks, the fallout is spilling over to Europe’s biggest supply of covered mortgage bonds.
  • President Francois Hollande took a stance in the dispute between Uber Technologies Inc. and French taxi drivers, calling the company’s low-cost UberPop ride-hailing service illegal and asking for its termination.
  • Asian stocks fell as Chinese shares suffered their worst back-to-back weekly losses since 1996.
  • SK Group overcame opposition from South Korea’s biggest institutional investor by winning a vote to push through a controversial merger of two units


*All information is taken from Bloomberg, unless otherwise noted.