Search

27/05/22 Briefing

Updated: May 28


The S&P 500 futures are up four points and are trading 0.2% above fair value. The Nasdaq 100 futures are up 19 points and are trading 0.1% above fair value. The Dow Jones Industrial Average futures are down 20 points but are trading 0.1% above fair value.

It has been a very good week thus far for the major indices, which have shown a propensity to emphasize positive news over bad news (or to find the good in the bad). The scope of losses coming into this week (S&P 500 and Nasdaq down seven straight weeks and DJIA down eight straight weeks) has created a setup for that mentality and has fostered bargain-hunting interest in many beaten-down stocks.

The market's resilient disposition is on display again this morning, as market participants are seemingly looking through disappointing earnings and guidance from Gap (GPS) and American Eagle Outfitters (AEO), and indications of margin pressures at Costco (COST), to upbeat results and guidance from the likes of Dell (DELL)and Ulta Beauty (ULTA) as grounding points.

Soon, they will be looking at the April Personal Income and Spending Report. It is out at 8:30 a.m. ETand it will include the Fed's preferred inflation gauge in the form of the core-PCE Price Index. Market participants are hoping to see some welcome moderation in the year-over-year rate of core-PCE to feed the peak inflation narrative.

The 10-yr note yield is down three basis points to 2.73% in front of the report. The U.S. Dollar Index is little changed at 101.78. WTI crude futures are down 0.7% to $113.44/bbl.

In U.S. corporate news:

  • Dell (DELL 47.89, +3.96, +9.0%): beats by $0.45, beats on revs; guides EPS and revs above consensus for both Q2 and full year

  • Gap, Inc. (GPS 9.06, -2.06, -18.5%): misses by $0.31, reports revs in-line, comps -14%; guides FY23 EPS and revenue below consensus; expects results to improve modestly in the back half of the year

  • Costco (COST 456.86, -8.13, -1.8%): beats by $0.02, beats on revs, adjusted comparable sales of +10.8%; membership renewal rates hit all-time highs in Q3

  • Ulta Beauty (ULTA 406.07, +28.11, +7.4%): beats by $1.81, beats on revs, comps of +18%; guides FY23 EPS above consensus, revs above consensus, raises comp guidance to +6-8% from +3-4%

  • Workday (WDAY 153.00, -15.15, -9.0%): misses by $0.02, reports revs in-line; expects JulQ subscription revenue growth of +22% yr/yr; raises FY23 subscription revenue slightly to $5.537-5.557 bln

  • Big Lots (BIG 25.10, -5.55, -18.1%): misses by $1.33, misses on revs; sees promotional activity driving its second quarter gross margin rate into the low-30's

Reviewing overnight developments:

  • Equity indices in the Asia-Pacific region ended the week on a higher note. Japan's Nikkei +0.7%; Hong Kong's Hang Seng +2.9%; China's Shanghai Composite +0.2%; India's Sensex +1.2%; South Korea's Kospi +1.0%; and Australia's All Ordinaries +1.0%.

  • In economic data:

  • China's April Industrial Profit 3.5% YTD (last 8.5%)

  • Japan's May Tokyo CPI 2.4% yr/yr (last 2.5%) and Tokyo Core CPI 1.9% yr/yr (expected 2.0%; last 1.9%)

  • Australia's May Retail Sales 0.9% m/m, as expected (last 1.6%)


  • In news:

  • Japan's Prime Minister Kishida said that steps are being taken to limit capital outflows from Japan through promotion of renewable energy and reopening of borders to international tourists.

  • Sony's president said that he expects delays and shortages of semiconductors to continue this year.

  • Samsung will reportedly lower its 2022 smartphone production by 10% due to weak demand.



  • Major European indices trade in the green. STOXX Europe 600 +0.8%; Germany's DAX Index +0.8%; UK's FTSE 100 +0.2%; France's CAC 40 +0.9%; Italy's FTSE MIB unch; Spain's IBEX 35 +0.3%.

  • In economic data:

  • Eurozone's April M3 Money Supply 6.0% (expected 6.3%; last 6.3%)

  • Spain's April Retail Sales 1.5% yr/yr (expected -1.9%; last -4.1%)


  • In news:

  • The chief of Germany's ZEW Institute said that the European Central Bank needs to do more to fight inflation.

  • ECB policymaker De Cos repeated his expectations for a gradual rate hike path.

  • British Chancellor of the Exchequer Sunak said that the plan to subsidize household energy bills will increase inflation by less than a percentage point.



U.S. equity futures:

  • S&P 500 Futures: +4 @ 4,062

  • DJIA Futures: -12 @ 32,623

  • Nasdaq 100 Futures: +28 @ 12,305

Overseas:

  • Europe: DAX +0.8%, FTSE +0.2%, CAC +0.9%

  • Asia: Nikkei +0.7%, Hang Seng +2.9%, Shanghai Composite +0.2%

Commodities:

  • Crude Oil -0.71 @ 113.38

  • Nat Gas -0.337 @ 8.558

  • Gold +9.29 @ 1856.89

  • Silver +0.378 @ 22.343

  • Copper +0.0120 @ 4.2710

U.S. Summary:

  • Earnings/Guidance (Full Earnings Calendar):

  • 23andMe (ME) reports Q4 (Mar) results, misses on revs; guides FY23 revs below consensus

  • American Eagle (AEO) reports Q1 (Apr) results, misses on revs; expects total revs in FY23 up in the low-single-digits yr/yr

  • Autodesk (ADSK) beats by $0.09, beats on revs; guides Q2 EPS in-line, revs in-line; guides FY23 EPS below consensus, revs in-line

  • Big Lots (BIG) misses by $1.33, misses on revs

  • Canopy Growth (CGC) misses by CAD1.25, misses on revs

  • Costco (COST) beats by $0.02, beats on revs, adjusted comparable sales of +10.8%

  • Crane (CR) raises its FY22 adjusted EPS guidance to reflect the inclusion of Engineered Materials' earnings contribution

  • Dell (DELL) beats by $0.45, beats on revs; guides EPS and revs above consensus for both Q2 and full year

  • Domo (DOMO) beats by $0.17, reports revs in-line; guides Q2 EPS above consensus, revs in-line; guides FY23 EPS above consensus, revs in-line

  • Farfetch (FTCH) misses by $0.03, misses on revs, guides for FY22 Digital Platform GMV growth of 5% to 10%

  • Gap (GPS) misses by $0.31, reports revs in-line, comps -14%; guides FY23 EPS and revenue below consensus; expects results to improve modestly in the back half of the year

  • Hibbett (HIBB) misses by $0.26, reports revs in-line; guides FY23 EPS above consensus, revs above consensus

  • Lions Gate Entertainment (LGF.A) misses by $0.04, misses on revs

  • Marvell (MRVL) beats by $0.01, beats on revs; guides Q2 EPS in-line, revs in-line

  • Red Robin Gourmet (RRGB) beats by $0.61, beats on revs; reaffirms FY22 guidance

  • Sanderson Farms (SAFM) beats by $6.97, beats on revs

  • StepStone Group (STEP) misses by $0.02, grows adjusted revs 43.3% yr/yr

  • Sumo Logic (SUMO) beats by $0.04, beats on revs; guides Q2 EPS above consensus, revs above consensus; guides FY23 EPS above consensus, revs in-line

  • Ulta Beauty (ULTA) beats by $1.81, beats on revs, comps of +18%; guides FY23 EPS above consensus, revs above consensus, raises comp guidance to +6-8%

  • Wendy's (WEN) postpones Investor Day; reaffirms FY22 guidance

  • Workday (WDAY) misses by $0.02, reports revs in-line; expects JulQ subscription revenue growth of +22% yr/yr; raises FY23 subscription revenue slightly to $5.537-5.557 bln

  • Zscaler (ZS) beats by $0.06, beats on revs; guides JulQ EPS above consensus, revs above consensus


  • General News:

  • Shanghai taking additional steps to ease lockdowns, according to Reuters

  • Russia continues to make gains in eastern Ukraine as US expects Russian debt default, according to the New York Times

  • White House aiming to allow some idle refineries to restart production, according to Bloomberg

  • Europe is developing plans to respond if Russia halts all gas imports, according to Financial Times

  • Republicans and Democrats are in negotiations for red flag laws, background checks, and other school security measures. Some lawmakers believe the talks are encouraging, according to the Wall Street Journal

  • Aadi Bioscience (AADI) announces exploratory biomarker data from patients in its AMPECT trial and expanded access program to be presented at 2022 ASCO Annual Meeting

  • AbbVie (ABBV) reports The Lancet published results from Phase 3 induction and maintenance programs evaluating Risankizumab

  • Alkermes (ALKS) details engagement with Sarissa; announces continued board refreshment

  • Alpine Immune Sciences (ALPN) announces presentations at the 2022 EULAR and ASCO Annual Meetings

  • Amneal Pharmaceuticals (AMRX) announced that the FDA has approved the company's Biologics License Application for pegfilgrastim-pbbk, a biosimilar referencing Neulasta

  • Aura Biosciences (AURA) Announces Publication of Preclinical Data of the Combination of VDCs with Immune Checkpoint Inhibitors at the 2022 ASCO Annual Meeting

  • BeiGene (BGNE) clinical data presentations at 2022 ASCO Annual Meeting demonstrate mature and growing oncology portfolio

  • Bicycle Therapeutics (BCYC) to present trials in progress poster featuring BT7480 Phase I/II clinical trial at the 2022 ASCO Annual Meeting

  • BlackRock (BLK): Republican lawmakers, state officials, and allies are looking to punish firms like BLK for climate action, according to the New York Times

  • Bristol Myers Squibb (BMY): Data from Phase 2 PILOT Study of Bristol Myers Squibb's CAR T cell Therapy Breyanzi Show Substantial Durable Responses in Patients with Refractory or Relapsed Large B-cell Lymphoma After First-Line Therapy

  • Canadian Solar's (CSIQ) Recurrent Energy successfully completed the construction on a 100-megawatt renewable solar power plant near Ruleville in the Mississippi Delta

  • Cathay Bancorp (CATY) adopts new share repurchase program authorizing to repurchase up to $125 mln of the Company's common stock

  • CGI Group (GIB) CFO Franois Boulanger will assume the position of President and Chief Operating Officer effective October 1

  • Checkmate Pharmaceuticals (CMPI): University of Iowa Holden Comprehensive Cancer Center presents preliminary data from clinical trial of vidutolimod at the 2022 American Society of Clinical Oncology (ASCO) Annual Meeting

  • Chemours (CC) is investigating capacity investments to support its growing Hydrogen Economy business

  • Dime Community (DCOM) authorizes new stock repurchase program for up to 1,948,314 shares

  • EHang (EH) formed a strategic partnership with Charoen Pokphand Group with an intent to establish a joint venture in Thailand for AAV sales and urban air mobility operations

  • Eli Lilly (LLY) Announces Details of Presentations at 2022 American Society of Clinical Oncology (ASCO) Annual Meeting

  • Eni S.p.A. (E) approved measures to execute the buyback program for an outlay of minimum 1.1 billion, that can be increase for a maximum amount of 2.5 billion

  • Exelixis (EXEL) Announces Results from Phase 2 Trial of Cabozantinib in Combination with Pembrolizumab in Patients with Recurrent or Metastatic Head and Neck Squamous Cell Carcinoma at ASCO 2022

  • Ford (F) delivered first electric F-150, according to Bloomberg

  • General Dynamics (GD) awarded $320 mln Space Development Agency contract

  • Genmab (GMAB) announces multiple abstracts to be presented at the 2022 American Society of Clinical Oncology (ASCO) Annual Meeting

  • GlaxoSmithKline (GSK) unveils latest research advances demonstrating strength of its portfolio and pipeline at ASCO and EHA

  • GlaxoSmithKline's (GSK) Cervarix two-dose vaccine schedule for girls aged 9 to 14 receives approval in China

  • Google (GOOG) in discussions to join e-commerce network ONDC, according to Reuters

  • I-Mab (IMAB) reports latest Phase 2 clinical data of its differentiated CD73 antibody uliledlimab

  • Immunocore (IMCR) announces upcoming presentations at the 2022 American Society of Clinical Oncology (ASCO) Annual Meeting

  • Iovance Biotherapeutics (IOVA) announces positive clinical data for lifileucel in advanced melanoma

  • IRADIMED (IRMD) appoints John F. Glenn as CFO, effective on or before June 20

  • Kinnate Biopharma Inc. (KNTE) to present trial design for its pan-FGFR inhibitor product candidate, KIN-3248, at ASCO 2022

  • Kohl's (KSS): Macellum Advisors GP issues statement regarding the Company and its Board of Directors attributable to its Managing Partner, Jonathan Duskin

  • Lilium GmbH (LILM) and Livent Corporation (LTHM) announce collaboration to advance research and development for high-performance lithium batteries

  • LyondellBasell (LYB) announces $5.20/share special dividend and increases quarterly dividend by 5% to $1.19/share

  • Merus (MRUS) announces publication of abstract of zenocutuzumab in NRG1-fusion (NRG1+) cancer at the 2022 American Society of Clinical Oncology (ASCO) Annual Meeting

  • Mirati Therapeutics (MRTX): Investigational Adagrasib Delivers Positive Results in Registration-Enabling Study of Patients with KRASG12C-Mutated Advanced Non-Small Cell Lung Cancer

  • Myriad Genetics (MYGN) Showcases Advancements in Precision Medicine with Recent Oncology Portfolio Expansion and New Data Presentations at ASCO 2022

  • Navitas Semiconductor (NVTS) appoints Ron Shelton as Senior VP, CFO, and Treasurer

  • O-I Glass' (OI) subsidiary Paddock Enterprises plan of reorganization confirmed by U.S. Court

  • PMV Pharmaceuticals (PMVP) Announces Initial PC14586 Phase 1 Clinical Data to be Presented at the 2022 American Society of Clinical Oncology (ASCO) Annual Meeting

  • Protagonist Therapeutics (PTGX) to Present Updated Phase 2 Rusfertide Clinical Results in Polycythemia Vera (PV) at ASCO 2022

  • Raytheon Technologies (RTX) awarded $410 mln Navy contract

  • Roche Hldg (RHHBY): new pivotal data demonstrate clinical benefit of Genentech's Glofitamab, a potential first-in-class bispecific antibody for people with aggressive lymphoma

  • Safe Bulkers (SB) announces agreement to acquire capesize class dry-bulk vessel

  • Sierra Oncology (SRRS): Momelotinib Pivotal Phase 3 Data Receives Oral Presentation at American Society of Clinical Oncology Annual Meeting

  • SpringWorks Therapeutics (SWTX) highlights nirogacestat clinical data at the 2022 ASCO Annual Meeting

  • Takeda (TAK) and Seagen to Highlight ADCETRIS Combination Data Showing Statistically Significant Improvement in Overall Survival (OS) for Patients with Advanced Hodgkin Lymphoma

  • Tenaris (TS): Italian court dismisses case against CEO and board members relating to alleged improper payments

  • Tesla (TSLA): US regulators want information on Tesla Canada fire, according to Reuters

  • Toyota (TM) lowers June production plans, according to Reuters

  • U.S. Steel (X) announces investment in a pig iron caster at its Gary Works facility; Caster will produce 500,000 tons of pig iron to feed electric arc furnaces; start-up is expected in early 2023

  • Valaris (VAL) names Chris Weber as CFO

  • Veracyte (VCYT): New Data to be Shared at ASCO 2022 Underscore Clinical Utility of Decipher Prostate Genomic Classifier

  • Xencor (XNCR) Reports Initial Dose-Escalation Data from Phase 1 Study of XmAb104, PD-1 x ICOS Bispecific Antibody, in Advanced Solid Tumors

  • Y-mAbs (YMAB) announces naxitamab chemoimmunotherapy investigational trial for high-risk neuroblastoma meets primary endpoint

  • Zscaler (ZS) announces partnership with Siemens to deliver solution to accelerate secure digitalization for OT environments

  • Zymergen (ZY) agrees to sell modular automation system to Octant

  • Zymeworks (ZYME): Clinical Data Demonstrating Promising Antitumor Activity with Zanidatamab in 1L Setting of HER2-Positive Breast and Gastroesophageal Cancers to be Presented at ASCO 2022


  • M&A:

  • Broadcom (AVGO): VMware deal includes a $1.5 bln break up fee if VMW backs out; there is also a $750 mln fee if VMW agrees to superior proposal by July 5

  • Meritor (MTOR) shareholders approve previously announced pending acquisition by Cummins Inc. (CMI); transaction expected to close by end of calendar year


  • Syndicate:

  • Aurora Cannabis (ACB) announces US$125 mln bought deal financing agreement

  • Harrow Health (HROW) files for $300 mln mixed securities shelf offering

  • Macy's (M) files mixed securities shelf offering


  • IPOs:

  • Priced to Trade:

  • No IPOs expected.



Gapping Up/Down

  • Gapping up:

  • ACET +18%, PMVP +16.1%, RRGB +12.9%, DELL+12.4%, ULTA +9.5%, ZYME +6.6%, SUMO +5.7%, BCYC +5%, MYGN +5%, MRVL +4.9%, PDSB +4.6%, LGF.A +4.1%, ZS +4.1%, OCX +3.9%, ZY +3.4%, DOMO+3.2%, ABUS +2.6%, AFMD +1.9%, VAL +1.8%, ADSK+1.8%, AMRX +1.7%, WEN +1.6%, IMAB +1.6%, NVTS+1.1%, ME +1%


  • Gapping down:

  • IOVA -46.4%, SWTX -30.8%, BIG -24.6%, MRTX-20.5%, GPS -19.1%, ACB -12.1%, AEO -12.1%, WDAY -8.1%, AADI -6.2%, IMGN -5.4%, PTGX -4.9%, MAXN -4.8%, TAK -2.3%, KNTE -2.3%, SB -2.2%, COST -2%, HROW -1.5%, CTIC -1.1%


Analyst Research (see Upgrades/Downgradescalendarfor full list):

  • Upgrades

  • Boot Barn Holdings (BOOT) upgraded to Outperform from Neutral at Robert W. Baird; tgt $115

  • Boston Scientific (BSX) upgraded to Buy from Hold at Needham; tgt $48

  • Graphic Packaging (GPK) upgraded to Outperform from Market Perform at BMO Capital Markets; tgt raised to $25

  • HCA (HCA) upgraded to Outperform from Mkt Perform at Bernstein; tgt lowered to $271

  • iQIYI (IQ) upgraded to Buy from Hold at The Benchmark Company; tgt $7

  • iQIYI (IQ) upgraded to Buy from Neutral at Citigroup; tgt raised to $5.60

  • Lenovo (LNVGY) upgraded to Buy from Outperform at CLSA

  • Macy's (M) upgraded to Equal-Weight from Underweight at Morgan Stanley; tgt raised to $22

  • O-I Glass (OI) upgraded to Buy from Neutral at BofA Securities; tgt raised to $19

  • Roku (ROKU) upgraded to Hold from Sell at Pivotal Research Group; tgt $80

  • Ulta Beauty (ULTA) upgraded to Buy from Hold at Jefferies; tgt raised to $475


  • Downgrades:

  • American Eagle (AEO) downgraded to Neutral from Overweight at JP Morgan; tgt lowered to $15

  • Citigroup (C) downgraded to Neutral from Outperform at Credit Suisse; tgt $58

  • CVS Health (CVS) downgraded to Mkt Perform from Outperform at Bernstein; tgt lowered to $112

  • Gap (GPS) downgraded to Underweight from Equal-Weight at Morgan Stanley; tgt lowered to $8

  • Gap (GPS) downgraded to Underweight from Neutral at JP Morgan; tgt lowered to $9

  • Greif (GEF) downgraded to Market Perform from Outperform at BMO Capital Markets; tgt lowered to $52

  • Lufax (LU) downgraded to Outperform from Buy at CLSA; tgt lowered to $6.80

  • Medtronic (MDT) downgraded to Hold from Buy at Needham

  • UnitedHealth (UNH) downgraded to Mkt Perform from Outperform at Bernstein; tgt $561

  • Urban Outfitters (URBN) downgraded to Equal-Weight from Overweight at Morgan Stanley; tgt lowered to $25

  • Zimmer Biomet (ZBH) downgraded to Hold from Buy at Needham


  • Others:

  • 1Life Healthcare (ONEM) initiated with a Buy at Stifel; tgt $12

  • Anthem (ANTM) resumed with an Outperform at Bernstein; tgt raised to $596

  • Centene (CNC) resumed with an Outperform at Bernstein; tgt lowered to $108

  • Cigna (CI) resumed with a Mkt Perform at Bernstein; tgt raised to $301

  • Humana (HUM) initiated with a Mkt Perform at Bernstein; tgt raised to $506

  • Oak Street Health (OSH) initiated with a Buy at Stifel; tgt $25

  • Oak Street Health (OSH) initiated with an Outperform at Bernstein; tgt lowered to $26

  • Rigetti Computing (RGTI) initiated with an Outperform at Cowen


Upcoming Events:

  • Econ Data:

  • 08:30 ET: Personal Income for Apr (Briefing.comConsensus 0.5%; Prior0.5%)

  • 08:30 ET: Personal Spending for Apr (Briefing.comConsensus 0.6%; Prior 1.1%)

  • 08:30 ET: PCE Prices for Apr (Briefing.comConsensus 0.3%; Prior 0.9%)

  • 08:30 ET: PCE Prices - Core for Apr (Briefing.comConsensus 0.3%; Prior 0.3%)

  • 08:30 ET: Adv. Intl. Trade in Goods for Apr (Briefing.comConsensus NA; Prior -$125.3 B)

  • 08:30 ET: Adv. Retail Inventories for Apr (Briefing.comConsensus NA; Prior 2.0%)

  • 08:30 ET: Adv. Wholesale Inventories for Apr (Briefing.comConsensus NA; Prior 2.3%)

  • 10:00 ET: Univ. of Michigan Consumer Sentiment - Final for May (Briefing.comConsensus 59.1; Prior 59.1)


  • Earnings:

  • Monday (May 23)

  • Afternoon: AAP HEI NDSN SKY WKME ZM


  • Tuesday (May 24)

  • Morning: ANF ATHM AZO BBY CSIQ DOLE FRO NTES WOOF RL

  • Afternoon: A CAL INTU RAMP JWM TOL URBN


  • Wednesday (May 25)

  • Morning: BMO BNS CMCO DKS DY PLAB

  • Afternoon: BOX CHNG DXC ELF ENS GES NTNX NVDA SNOW SPLK VSAT WSM ZUO


  • Thursday (May 26)

  • Morning: BABA AMWD BIDU BZUN BRC BURL CM DG DLTR GCO HLNE JACK M MANU MDT ROLL RY SAFM TITN TD

  • Afternoon: ME AEO ADSK COST DELL DOMO FTCH GPS LGF.A MRVL RRGB STEP SUMO ULTA VMW WDAY ZS


  • Friday (May 27)

  • Morning: BIG CGC HIBB



Asia & Europe detail:

Asia: Nikkei +0.7%, Hang Seng +2.9%, Shanghai Composite +0.2%

Equity indices in the Asia-Pacific region ended the week on a higher note. Japan's Prime Minister Kishida said that steps are being taken to limit capital outflows from Japan through promotion of renewable energy and reopening of borders to international tourists. Sony's president said that he expects delays and shortages of semiconductors to continue this year. Samsung will reportedly lower its 2022 smartphone production by 10% due to weak demand.

  • In economic data:

  • China's April Industrial Profit 3.5% YTD (last 8.5%)

  • Japan's May Tokyo CPI 2.4% yr/yr (last 2.5%) and Tokyo Core CPI 1.9% yr/yr (expected 2.0%; last 1.9%)

  • Australia's May Retail Sales 0.9% m/m, as expected (last 1.6%)


---Equity Markets---

  • Japan's Nikkei: +0.7% (+0.2% for the week)

  • Hong Kong's Hang Seng: +2.9% (-0.1% for the week)

  • China's Shanghai Composite: +0.2% (-0.5% for the week)

  • India's Sensex: +1.2% (+1.0% for the week)

  • South Korea's Kospi: +1.0% (-0.1% for the week)

  • Australia's ASX All Ordinaries: +1.0% (+0.3% for the week)

---FX---

  • USD/JPY: UNCH at 127.07

  • USD/CNH: -0.4% to 6.7352

  • USD/INR: -0.1% to 77.56

Europe: DAX +0.8%, FTSE +0.2%, CAC +0.9%

Major European indices trade in the green. The chief of Germany's ZEW Institute said that the European Central Bank needs to do more to fight inflation. Meanwhile, ECB policymaker De Cos repeated his expectations for a gradual rate hike path. British Chancellor of the Exchequer Sunak said that the plan to subsidize household energy bills will increase inflation by less than a percentage point.

  • In economic data:

  • Eurozone's April M3 Money Supply 6.0% (expected 6.3%; last 6.3%)

  • Spain's April Retail Sales 1.5% yr/yr (expected -1.9%; last -4.1%)


---Equity Markets---

  • STOXX Europe 600: +0.8% (+2.3% week-to-date)

  • Germany's DAX: +0.8% (+2.6% week-to-date)

  • U.K.'s FTSE 100: +0.2% (+2.6% week-to-date)

  • France's CAC 40: +0.9% (+2.9% week-to-date)

  • Italy's FTSE MIB: UNCH (+1.9% week-to-date)

  • Spain's IBEX 35: +0.3% (+5.0% week-to-date)

---FX---

  • EUR/USD: -0.2% to 1.0707

  • GBP/USD: UNCH at 1.2602

  • USD/CHF: UNCH at 0.9591


0 views0 comments

Recent Posts

See All