Greek Troubles Weighing on the Euro, Thomas Cook Announces China Venture with Fosun International
June 15, 2015 5:53 am
U.S. stocks fell on Friday as concern over how soon the Federal Reserve might raise interest rates kept investors cautious. Meanwhile, the week in Asia this morning started with extended losses and the Euro skidding, after Greece’s talks with lenders to avert a default ended with no agreement. The Dow fell 140 points to close at 17,898, the S&P500 fell 14 points to close at 2,094.
The Euro slipped about 0.6% on the day to $1.1197, and was down 0.5% against the Yen at 138.27 EURJPY. The Yen was treading water at 123.48 to the Dollar.
Gold edged up slightly to $1,180 an ounce after Greece’s talks with its creditors ended with no deal, but gains were capped by caution ahead of this week’s Fed meeting. Brent crude shed about 0.5% to $63.57 after gaining 0.7% for the week, while U.S. crude fell 0.4% $59.73 after gaining 1.5% on the week.
In the morning’s equity news, Thomas Cook announced that it has started a new joint venture with shareholder Fosun International with the aim of developing domestic, inbound and outbound tourism activities for the Chinese market. The JV, which will be 51% owned by Fosun and 49% by the UK travel operator, will be marketed under the Thomas Cook brand and give the company direct exposure to China’s growing demand for leisure travel. Thomas Cook stock rose by 1% in early trade at 140p per share, but is now up by around 0.14% at 139.10p per share.
U.S. stocks fell on Friday as concern over how soon the Federal Reserve might raise interest rates kept investors cautious. Meanwhile, the week in Asia this morning started with extended losses and the Euro skidding, after Greece’s talks with lenders to avert a default ended with no agreement. The Dow fell 140 points to close at 17,898, the S&P500 fell 14 points to close at 2,094.
The Euro slipped about 0.6% on the day to $1.1197, and was down 0.5% against the Yen at 138.27 EURJPY. The Yen was treading water at 123.48 to the Dollar.
Gold edged up slightly to $1,180 an ounce after Greece’s talks with its creditors ended with no deal, but gains were capped by caution ahead of this week’s Fed meeting. Brent crude shed about 0.5% to $63.57 after gaining 0.7% for the week, while U.S. crude fell 0.4% $59.73 after gaining 1.5% on the week.
In the morning’s equity news, Thomas Cook announced that it has started a new joint venture with shareholder Fosun International with the aim of developing domestic, inbound and outbound tourism activities for the Chinese market. The JV, which will be 51% owned by Fosun and 49% by the UK travel operator, will be marketed under the Thomas Cook brand and give the company direct exposure to China’s growing demand for leisure travel. Thomas Cook stock rose by 1% in early trade at 140p per share, but is now up by around 0.14% at 139.10p per share.
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