📖 Your Q2 Earnings Guide: Discover the Stocks ProPicks AI Highlights to Jump Post-EarningsRead more

Barclays CEO Resigns

Published 07/03/2012, 06:48 AM
Updated 01/01/2017, 02:20 AM
UK100
-
DE40
-
ES35
-
IT40
-
BARC
-
VIV
-
KCRA
-
PSN
-
PHAR
-
BOND
-
EONGn
-
GAZPq
-
SMI
-
BOB
-
OXUR
-

Ireland Set To Sell Bills In Return For Markets Since Entering Bailout ConditionsEconomic Data

(EU) ECB: €303M borrowed in overnight loan facility (lowest level since late April) vs. €706M prior; €802B parked in deposit facility vs. €772.9B prior

(HU) Hungary Apr Final Trade Balance: €379.4M v €396.3M prior

(ES) Spain Jun Net Unemployment M/M: -98.9K v -51.6Ke

(TR) Turkey Jun Consumer Prices M/M: -0.9% v -0.4%e; Y/Y: 8.9% v 9.5%e; CPI Core Y/Y: 7.4% v 7.7%prior

(TR) Turkey Jun Producer Prices M/M: -1.5% v +0.5% prior; Y/Y: 6.4% v 8.1% prior

(BR) Brazil Jun FIPE CPI: 0.2% v 0.2%e

(UK) Jun PMI Construction: 48.2 v 52.9e

(UK) May Net Consumer Credit: £0.7B v £0.2Be; Net Lending: £0.6B v £0.9Be

(UK) May Mortgage Approvals: 51.1K v 50.0Ke

(UK) May M4 Money Supply M/M: -0.1% v 0.9% prior; Y/Y: -4.1% v -4.0% prior; M4 Ex IOFCs 3M Annualized: 3.6% v 2.8% prior

(HK) Hong Kong May Retail Sales Value Y/Y: 8.8% v 9.4%e; Retail Sales Volume Y/Y: 5.8% v 6.0%e

(DE) German June New car registrations +3% y/y; YTD New Car Registrations +1% y/y - VDIK

(DE) German May Machines order y/y: -6% v -11% prior - VDMA

(EU) Eurozone PPI M/M: -0.5% v -0.3%e; Y/Y: 2.3% v 2.5%e

(ZA) South Africa Jun Naamsa Vehicle Sales Y/Y: 15.6% v 20.7% prior

Fixed Income
(DK) Denmark sold total DKK5.42B in 2014 and 2023 Bonds

(ZA) South Africa sold total ZAR2.1B vs. ZAR2.1B indicated in 2023, 2026 and 2048 Bonds

(EU) ECB allotted $4.3B in 7-day USD Liquidity Operation at fixed 0.68% vs. $2.6B prior

(CH) Switzerland sold 3-Month Bills; Avg Yield -0.841%

(EU) ECB allotted €163.6B in 7-Day Main Refi Tender vs. €175Be

(NL)) Netherlands Debt Agency (DSTA) sold at least €4.0B vs. €4.0B in 1.25% Jan 2018 DSL Bond; Guidance revised to 60-61 bps over German Jan 2018 Bund; Order book over €13.5B

(HU) Hungary Debt Agency (AKK) sold HUF45B in 3-Month Bills; Avg Yield 7.11% v 7.10% prior; Bid-to-cover: 1.78x v 2.41x prior

(UK) DMO sold £1.75B in 4.75% Dec 2030 Gilts; Avg Yield 2.586% v 3.426% prior; Bid-to-cover: 2.06x v 1.88x prior; Tail 0.2bps

(BE) Belgium Debt Agency sold €3.08B vs. €3.0-3.5B indicted range in 3-month and 6-month Bills

Sold €1.304B in 3-month Bills; Avg yield 0.211% v 0.196% prior; Bid-to-cover: 3.72x v 3.26x prior

Sold €1.780B in 6-month Bills; Avg yield 0.226% v 0.266% prior; Bid-to-cover: 2.25x v 2.05x prior

Notes/Observations
Markets believe central banks will provide policy stimulus as result of the downturn in activity

RBA holds Cash Target Rate at 3.50%

Barclays CEO Bob Diamond resigns effective immediately

UK PMI Construction moves into contraction territory

Ireland to sell bills; first return to the markets since late 2010

US equity and bond markets to close early on Tuesday and be off for Holiday on Wed, July 4th

Equities
FTSE 100 +0.3% at 5654, DAX +0.7% at 6537, CAC-40 +0.1% at 3244, IBEX-35 +0.2% at 7,139, FTSE MIB +0.5% at 14,388, SMI +0.5% at 6139, S&P 500 Futures at 1357

European stocks were marginally higher in the session as investors hoped that central banks would take steps to further stimulate economic growth. Eyeing potential PBoC RRR cut, more QE from the UK and a maihn refi cut by the ECB helped to undermine risk appetite.

Barclays [BARC.UK] Announces that CEO Bob Diamond resigned, effective immediately. To consider both internal and external candidates for its next CEO. The resignation was due to external pressures which risked damaging the Barclays franchise

Persimmon Reports H1 revenues of £805M, up 13% y/y.

Brown (N) Group Plc [BWNG.UK] Reported 17-week Rev +2.5% y/y. Revenues were held back by ladies wear with online growth strong account for 53% of sales.

Vivendi [VIV.FR] financial press reported that Universal Music faced delay by EU Commission on bid for EMI. EU Commission argued that Universal currently takes in materially higher prices from digital distributors than its competitors, and that acquiring EMI would allow it to increase prices.

Bonduelle [BON.FR] set up €300M revolving credit line

Addex Pharmaceuticals [ADXN.CH] appointed Dr. Graham Dixon as Chief Scientific Officer and Head of Research

BASF [BAS.DE] Announces sale of its marine biopolymers to Seagarden; terms not disclosed

Deutsche Telekom [DTE.DE] Exec: Cooperation with Google regarding phone operating system is possible

E.On [EOAN.DE] reached settlement for long-term gas contracts with Russia's Gazprom. Eoan also rtaised its 2012 group outlook as a result with EBITDA seen between €10.4-11.0B

Pharming [PHARM.NL] to sell tangible assets of its US operations to Sexing Technologies (private); Financial terms not disclosed.

Delta Lloyd [DL.NL] commented on Netherlands Central Bank interest curve adjustment. The adjustment of the interest rate curve for a duration of 20 years and up announced by DNB (Dutch Central Bank) in anticipation of Solvency II would lead to an estimated increase of IGD Group solvency of at least 15 percentage points. Solvency of Delta Lloyd Levensverzekering NV is estimated to increase by at least 30 percentage points.

ThromboGenics [THR.BE] received FDA acceptance for its Biologics license for Ocirplasmin.

Konecranes [KCR1V.FI] Awarded order in China; financial terms not disclosed.

Latest comments

Loading next article…
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.