News Headline Summary
Stocks in Europe opened broadly higher, however consumer goods related stocks have underperformed, with Danone in France down over 1% after it was reported that certain batches of milk powder in China may be affected by contaminated Fonterra whey protein
- In related news, Parmalat shares halted in early Italian trade reacting to weekend news reports that the World’s largest dairy exporter Fonterra found bacteria in milk products.
- Bunds are also seen higher in early trade, with peripheral bond yield spreads marginally wider. Of note, there is no major supply due out today.
- There is little in terms of fresh macroeconomic newsflow, but this weekend/overnight saw the release of the latest Chinese Non-Manufacturing PMI data:
Chinese Official Non-Manufacturing PMI (Jul) M/M 54.1 (Prev. 53.9) and Business Expectations 63.9, highest reading in 2013.
Chinese HSBC Services PMI (Jul) M/M 51.3 (Prev. 51.3)
07:24, 05 Aug 2013 -
07:22, 06 Aug 2013
Stocks in Europe are seen broadly flat, with EUR/USD and GBP/USD trading heavy on the back of a firmer USD following reports that Japan's USD 80bln civil-service pension fund is considering changing allocation strategy which supported USD/JPY overnight...
12:15, 05 Aug 2013
FTSE 100 continues to underperform its peers, breaking out of its recent range to post fresh session lows weighed on by HSBC shares seen down 5.46%...
10:21, 05 Aug 2013
EU MID-SESSION UPDATE - 05/08/13: Stocks traded higher in Europe, though the price action was range bound given the light economic calendar…
12:49, 02 Aug 2013
USTs remain bid, as market participants digest a somewhat mixed jobs report, which showed that although the unemployment rate continued to edge lower towards the key Fed's threshold of 6.5%, the headline NFP failed to meet analyst expectations...
10:01, 02 Aug 2013
EU MID-SESSION UPDATE - 02/08/13: Heading into the North American open, stocks in Europe are seen broadly flat and traded in a relatively tight range this morning as market participants remained on the sidelines ahead of the key jobs report from the BLS…
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