Free Trial

Credit Names on US Equities Open

CREDIT UPDATE

For both $ & €IG equities, largest gain is coming from VF (+11%) - seems equity markets taking reports over the weekend (Reuters) that the founders (15% stake) have joined to support activist investor Engaged Capital (1.3% stake) to campaign for board changes as a positive for any strategic direction/changes that follow. Its nearly reversed all of its post-earning losses on this mornings move.

$IG equity eqv's are up +0.4% while SPX is flat - latter dragged on by Tech (-0.3%) while former seeing a broad based gain led by communications & consumer names. Similar outperformance in €IG (+0.8% vs. SXXP +0.5%), consumer names helped up by Auto's and VF.

Keep reading...Show less
145 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

For both $ & €IG equities, largest gain is coming from VF (+11%) - seems equity markets taking reports over the weekend (Reuters) that the founders (15% stake) have joined to support activist investor Engaged Capital (1.3% stake) to campaign for board changes as a positive for any strategic direction/changes that follow. Its nearly reversed all of its post-earning losses on this mornings move.

$IG equity eqv's are up +0.4% while SPX is flat - latter dragged on by Tech (-0.3%) while former seeing a broad based gain led by communications & consumer names. Similar outperformance in €IG (+0.8% vs. SXXP +0.5%), consumer names helped up by Auto's and VF.

Keep reading...Show less