US and Brent Crude Rise, GSK Share Price Volatile After Takeover Rumours
June 16, 2015 6:18 am
Greece defaulting on its debt and the caution surrounding the two day policy meeting of the Federal Reserve monetary committee – which starts today – caused stocks on Wall Street to slip in yesterday’s session, with the Dow falling 107 points to 17,791 and the S&P500 losing 9 points to close at 2,084. Over in Asia the same themes weighed on the market causing stocks to fall with the Nikkei closing 0.6% lower at 20,257.
Within the FX space the common currency steadied after erasing losses overnight, as the shock of failed talks between Greece and its creditors on Sunday faded for the moment. The Euro was little changed at $1.1280, having pulled back from an overnight low of $1.1189. The Dollar was up 0.2% at 123.57 Yen after rising to 123.815.
U.S. crude oil rose as a tropical storm hit the coast of oil-producing Texas. U.S. crude was up 1% at 60.14 a barrel, paring the previous day’s losses suffered on Greek debt angst. Brent climbed 0.5% to $65.25 a barrel.
There is more M&A activity in the UK pharmaceutical sector today after it was reported GlaxoSmithKline could reportedly become the latest takeover target in the industry. Market participants are speculating that the company may face an approach from Switzerland’s Roche or US company Johnson & Johnson at about 1900p per share. GSK stock opened 0.5% higher, trading at 1360p per share.
Greece defaulting on its debt and the caution surrounding the two day policy meeting of the Federal Reserve monetary committee – which starts today – caused stocks on Wall Street to slip in yesterday’s session, with the Dow falling 107 points to 17,791 and the S&P500 losing 9 points to close at 2,084. Over in Asia the same themes weighed on the market causing stocks to fall with the Nikkei closing 0.6% lower at 20,257.
Within the FX space the common currency steadied after erasing losses overnight, as the shock of failed talks between Greece and its creditors on Sunday faded for the moment. The Euro was little changed at $1.1280, having pulled back from an overnight low of $1.1189. The Dollar was up 0.2% at 123.57 Yen after rising to 123.815.
U.S. crude oil rose as a tropical storm hit the coast of oil-producing Texas. U.S. crude was up 1% at 60.14 a barrel, paring the previous day’s losses suffered on Greek debt angst. Brent climbed 0.5% to $65.25 a barrel.
There is more M&A activity in the UK pharmaceutical sector today after it was reported GlaxoSmithKline could reportedly become the latest takeover target in the industry. Market participants are speculating that the company may face an approach from Switzerland’s Roche or US company Johnson & Johnson at about 1900p per share. GSK stock opened 0.5% higher, trading at 1360p per share.
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