Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

EU Market Open: July 18, 2016

Published 18/07/2016, 07:50
Updated 09/07/2023, 11:32

Asia Market News
Stocks were lower on Monday with markets in Tokyo closed and investors cautious after a failed military takeover in Turkey at the weekend raised political risk for the region. The Shanghai Composite was 0.55% lower despite a gain in house prices data for June in China of 7.3% year-on-year with the previous month up 6.9%.

Currency Market News
The Turkish lira rose against the dollar and the safe-haven yen fell broadly on Monday in the wake of a failed Turkish coup over the weekend, easing investor concerns about political uncertainty and geopolitical risks. In Asian trade on Monday, the lira last traded at 2.9575, up roughly 2.1% on the day. The USD/JPY rose 0.4% to 105.35 yen. The EUR/USD was up 0.3% at $1.1065.

Commodity Market News
Crude oil prices rose in Asian trade on Monday as traders shrugged off the impact of Friday’s attempted coup in Turkey, while a weaker dollar and upbeat economic data from the United States helped support the price. Brent crude futures rose 26 cents to $47.87 a barrel after closing up 24 cents in the previous session. U.S. crude futures climbed 10 cents to $46.05 a barrel after ending the previous session up 27 cents.

US Market News
The Dow Jones ended at a record high on Friday and major indexes closed a third consecutive week of gains as upbeat economic data and the start of earnings season gave investors confidence. The Dow Jones industrial average rose 0.05%, to 18,516.55, the S&P 500 lost 0.09%, to 2,161.74. Herbalife (NYSE:HLF) jumped 9.9% after the weight-loss products maker agreed to pay $200 million and change the way it does business to avoid being labeled a pyramid scheme by regulators.

US Equity Earnings

  • US Bancorp (NYSE:USB) – Q2 Adj EPS USD 0.82 vs. Exp. USD 0.80, Q2 revenue USD 5.45bln vs. Est. USD 5.20bln and Q2 NIM 3.02% vs. Exp. 3.04%.
  • PNC Financial Services (NYSE:PNC) – Q2 USD 1.82 vs. Exp. USD 1.75, Q2 NIM tax-equivalent basis 2.70% vs. Exp. 2.74% and Q2 net interest income USD 2.1bln.
  • Citigroup (NYSE:C) – Q2 Adj EPS USD 1.24 vs. Exp. USD 1.10, Q2 revenue USD 17.55bln vs. Exp. USD 17.47bln and Q2 NIM 2.86% vs Exp. 2.88%.
  • Wells Fargo & Co (NYSE:WFC) – Q2 EPS 1.01 vs. Exp. USD 1.00, Q2 revenue USD 22.2bln vs. Exp. USD 22.2bln, Q2 common equity tier 1 ratio 10.6%, return of assets 1.20% and return on equity 11.70%, Q2 NIM 2.86% vs Exp. 2.90% and total assets under management USD 484bln, down 1% from prior year.

Bond Market News
U.S. Treasury prices trimmed losses in late U.S. trading on Friday as the Turkish military said it had taken power in the country, kindling safe-haven demand for low-risk assets on worries about a large shift in power in the Middle East. Benchmark 10-year Treasury notes were 8/32 lower in price for a yield of 1.558 percent, up 3 basis points from late on Thursday.

DISCLAIMER: The above is not considered financial advice or any endorsement to use any particular service. If you wish to use any of the services mentioned, please seek independent advice.

RISK WARNING: Spread betting, CFD, futures and options trading carries a high level of risk to your capital and can result in losses that exceed your initial deposit. They may not be suitable for everyone, so please ensure that you fully understand the risks involved. Past performance of a managed service is not a guide to future performance.

Original post

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.