As extensively reported over the past two days, this weekend's "last chance" Greek negotiations reached a roadblock after talks broke down after just 45 minutes. Creditors deemed the renewed reform proposals from Greece as inadequate as the troubled nation stands firm that they will not budge on pension cuts or VAT increases ahead of the June 18th European finance minister meeting.
Shares of integrated circuits designer Analog Devices, Inc. (ADI) are up 8.12%, at $63.64, in early trading, after the company this morning was upgraded to ‘Overweight’ from ‘Equal Weight’ at Barclays. Approximately 5 million shares have already changed hands, compared to the stock’s average daily volume of 2.08 million shares. During today’s trading session, Analog […]View the full post at: Analog Devices (ADI) Stock Hits 14 Year High
By Keith Bradsher and Chris Buckley HONG KONG: For nearly three years, President Xi Jinping of China has crushed opposition by silencing and often locking up anyone who dares defy the government. But that aura of invincibility has been shaken by stock market speculators who have made a mockery of efforts to halt a steep slide in share prices.
Today, European data shattered two long held beliefs by Markit and in general, unthinking economists everywhere.
European recession would be mild
Germany would continue to diverge from the rest of Europe
Markit reports Eurozone sees stronger rate of decline at start of second quarter
Shares of Facebook, Inc. (FB) hit a new 52-week high on Friday, printing the tape at $95.39. That’s a 44.18% rise, or $29.23 per share, from the 52-week low of $66.16 set in July 21, 2014. The stock closed at $94.97 at the end of Friday’s trading session, printing a one-year return of 43% and […]View the full post at: Facebook’s (FB) Stock Hits New 52-Week High
By The ETF Professor
Shares of the Global X FTSE Greece 20 ETF (GREK), the lone ETF devoted to the "G" in the infamous PIIGS acronym, are off by more than three percent following news released late last week that index provider Russell Investments has demoted Greece to emerging markets status.
Markit reports Japan Manufacturing PMI Hits 16 Month Low
Output and new orders down at accelerated rates
Near-stagnation of employment
Purchasing costs fall to greatest extent since November 2009
Markit/JMMA Manufacturing PMI
There was lots of Eurozone news this week outside of the typical Greek default fodder. Nearly all of that news was not pretty. Let's take a look at the key stories.
Eurozone Unemployment Rate 10.7%, Highest Since 1999
The Telegraph reports Eurozone unemployment hits record high of 10.7pc