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Markets are called to open higher this morning. This is what's happening today:
• Euro Jobless Rate Seen at Record Even as Recession Ends
• Samsung Said to Near Purchase of German Screen Company Novaled
• German Inflation Seen Slowing for First Time in Three Months
• Japanese Stocks Rebound as Yen Pares Gains
• Rheinmetall Reduces Profit Forecast as Customers Cut Spending
• EU to Mediate Over French Ban of Mercedes Models, FT Reports
• SocGen Joins Agricole to Boost Profit
• Qualcomm, Alcatel to Jointly Invest in R&D Program
• Norse Energy Wins Court Approval for Asset-Sale Procedures
• Alba Raises Stake in Mecalux to 24.38% for EU15m
• Swiss Head-On Train Collision Kills Driver, 26 in Hospital
Asian shares rose for the first time in a week and European equity futures increased as Chinese and Japanese stocks rebounded. Australia’s dollar slid the most in a month as the central bank governor signaled lower interest rates if required. The yen fell.
The MSCI Asia Pacific Index gained 0.5 percent as of 7:02 a.m. in London, as it heads for a first monthly advance since April. Japan’s Topix Index, the best performer among developed markets in 2013, rose 1.8 percent in Tokyo after slumping 7.7 percent in four days. Standard & Poor’s 500 Index futures added 0.1 percent while contracts on the Euro Stoxx 50 Index added 0.7 percent. The yen weakened 0.3 percent versus the greenback, snapping a three-day gain. The Aussie slumped 1.5 percent, while copper and crude oil slid at least 0.2 percent.
Japan’s jobless rate fell to a lower-than-estimated 3.9 percent in June while Asian companies from Mitsubishi Motors Corp. to SK Telecom Co. report earnings today. Chinese shares rallied after the People’s Bank of China conducted its first reverse repos since Feb. 7. Reserve Bank of Australia Governor Glenn Stevens said inflation data leaves room for rate cuts as central banks in the U.S., Europe and the U.K. meet this week.
Good day and happy trading!
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