Brent Crude Slumps, Ladbrokes Shares Surge on Takeover Rumours
June 4, 2015 6:21 am
Overnight, a spike in debt yields helped the Euro continue its upward trajectory, whilst US stocks rose in the previous session, helped by optimism that Greece was close to a deal that would stave off default for at least the short term. In Asia, equities slid, which tempered risk sentiment in the region. The Dow closed 64 points higher at 18,076, the S&P500 gained 4 points to close at 2,114.
In FX this morning the Euro was holding firm around the $1.1268 level after rallying 2.5% this week, USD was also up slightly against the Yen after pulling away from previous day low of 123.79. The currency soared to a 13 year high above 125 Yen on Tuesday after a Dollar rally due to upbeat Economic Data.
U.S. crude futures dropped 8 cents to $59.56. Brent crude fell 0.1% to $63.74 a barrel after plunging 2.6% the previous day.
There is more M&A activity in the equity sector this morning after there have been rumours that the bookmaker Ladbrokes could be subject to a bid from Irish peer Paddy Power of £1.6bn or 175p a share cash offer, according to the Daily Mail. Ladbrokes stock is currently up by 2.94% at 125.90p a share.
Overnight, a spike in debt yields helped the Euro continue its upward trajectory, whilst US stocks rose in the previous session, helped by optimism that Greece was close to a deal that would stave off default for at least the short term. In Asia, equities slid, which tempered risk sentiment in the region. The Dow closed 64 points higher at 18,076, the S&P500 gained 4 points to close at 2,114.
In FX this morning the Euro was holding firm around the $1.1268 level after rallying 2.5% this week, USD was also up slightly against the Yen after pulling away from previous day low of 123.79. The currency soared to a 13 year high above 125 Yen on Tuesday after a Dollar rally due to upbeat Economic Data.
U.S. crude futures dropped 8 cents to $59.56. Brent crude fell 0.1% to $63.74 a barrel after plunging 2.6% the previous day.
There is more M&A activity in the equity sector this morning after there have been rumours that the bookmaker Ladbrokes could be subject to a bid from Irish peer Paddy Power of £1.6bn or 175p a share cash offer, according to the Daily Mail. Ladbrokes stock is currently up by 2.94% at 125.90p a share.
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