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Europe Stocks Pare Gains On ECB 50bp Hike Speculation

EQUITIES
  • Asian stocks closed mixed (Japan returned from a Monday holiday): Japan's NIKKEI closed up 173.21 pts or +0.65% at 26961.68 and the TOPIX ended 10.29 pts higher or +0.54% at 1902.79. China's SHANGHAI closed up 1.328 pts or +0.04% at 3279.431 and the HANG SENG ended 185.12 pts lower or -0.89% at 20661.06.
  • European stocks pared earlier modest gains after multiple media reports that the ECB was considering hiking by 50bp in July; tech stocks are lagging, with defensives (utilities) leading: the German Dax down 62.77 pts or -0.48% at 12959.81, FTSE 100 down 11.14 pts or -0.15% at 7218.69, CAC 40 down 39.08 pts or -0.64% at 6091.91 and Euro Stoxx 50 down 21.72 pts or -0.62% at 3511.86.
  • U.S. futures are a little stronger, with the Dow Jones mini up 90 pts or +0.29% at 31135, S&P 500 mini up 16.25 pts or +0.42% at 3850, NASDAQ mini up 51 pts or +0.43% at 11958.
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