US Indices Close Lower After Positive NFP Data, Diageo Shares Jump on Takeover Interest
June 8, 2015 5:52 am
The Dow and The S&P500 pulled back from recent runs on Friday, after much better than expected nonfarm payroll data raised expectations that the federal reserve could raise interest rates by the end of the year. Over in Asia shares extended losses after Chinese imports declined by more than expected. The Dow fell 56 points to close the week at 17,849, while the S&P500 lost 3 points to close the week at 2,092.
The Dollar gained on the Euro, which remained pressured by the Greek debt crisis. The Euro bought $1.1106 , down about 0.1% on the day. Higher yields helped boost the dollar to a 13-year peak of 125.86 Yen on Friday. It was last seen down 0.2% on the day at 125.43 Yen.
Brent crude futures dropped about 0.9% to $62.75 a barrel, after skidding 3.6% last week. U.S. crude fell 1% to $58.54 after giving up 2% last week.
Within the equity space, Brazil’s richest man, Jorge Paulo Lemann, is reported to be considering a takeover bid for Diageo – owner of brands such as Smirnoff, Guinness and Johnnie Walker. On the back of the reports, Diageo, which recorded a 0.7% fall in sales for the last quarter, saw its share price soar to the highest levels in almost seven years. It currently has a market value of about £44bn. The stock is up 8% in early trade at 1890p per share.
The Dow and The S&P500 pulled back from recent runs on Friday, after much better than expected nonfarm payroll data raised expectations that the federal reserve could raise interest rates by the end of the year. Over in Asia shares extended losses after Chinese imports declined by more than expected. The Dow fell 56 points to close the week at 17,849, while the S&P500 lost 3 points to close the week at 2,092.
The Dollar gained on the Euro, which remained pressured by the Greek debt crisis. The Euro bought $1.1106 , down about 0.1% on the day. Higher yields helped boost the dollar to a 13-year peak of 125.86 Yen on Friday. It was last seen down 0.2% on the day at 125.43 Yen.
Brent crude futures dropped about 0.9% to $62.75 a barrel, after skidding 3.6% last week. U.S. crude fell 1% to $58.54 after giving up 2% last week.
Within the equity space, Brazil’s richest man, Jorge Paulo Lemann, is reported to be considering a takeover bid for Diageo – owner of brands such as Smirnoff, Guinness and Johnnie Walker. On the back of the reports, Diageo, which recorded a 0.7% fall in sales for the last quarter, saw its share price soar to the highest levels in almost seven years. It currently has a market value of about £44bn. The stock is up 8% in early trade at 1890p per share.
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