• Global banks seeking details of U.S. sanction threat against China individuals for Hong Kong law
International banks were seeking details of the scope of U.S.
legislation that would penalize them for doing business with Chinese
officials who implement Beijing's sweeping new national security law on
• U.S. reports 55,000 COVID-19 cases in single day, hits new global record
The United States reported more than 55,000 new COVID-19 cases on
Thursday, a new daily global record for the coronavirus pandemic, as
infections rose in a majority of states.
• France's Macron picks new prime minister to reinvent presidency
President Emmanuel Macron named Jean Castex, a top civil servant and
local mayor who orchestrated France's coronavirus lockdown exit
strategy, as his new prime minister as he acted to reinvent his
administration and win back voters.
• Euro zone business slump eased in June as lockdowns relaxed
The plunge in euro zone business activity caused by lockdowns imposed to
stop the spread of the coronavirus eased sharply last month as more
businesses reopened and people ventured out, a survey showed on Friday.
• Canada's Supreme Court dismisses appeal of long-delayed Trans Mountain oil pipeline
Canada's Supreme Court removed an obstacle to expansion of the Trans
Mountain oil pipeline on Thursday, dismissing an appeal of a lower court
decision that had backed Ottawa's approval of the project.
BEFORE THE BELL
Futures for Canada’s main stock index edged lower, as oil prices
fell on fears that resurgence of coronavirus cases could stall fuel demand growth. European stocks slipped over concerns on economic recovery. In Asia, Japan’s
Nikkei ended higher, taking a positive cue from a record surge in U.S. June payrolls and Wall Street's overnight rally. The U.S. dollar was little changed against its rival
currencies. Gold prices dipped.
STOCKS TO WATCH
• Turquoise Hill Resources Ltd (TRQ).
The company said on Thursday it has decided to defer further
on any interim funding arrangements with Rio Tinto for its Mongolian
copper project. The Mongolian state owns 34% in the Oyu Tolgoi copper
project, while Rio's majority-owned Turquoise Hill has a 66% stake.
Turquoise said it now expects to have liquidity available
to fund operations and underground development of the project beyond
the third quarter of 2021. "If it becomes prudent to do so, the company
may re-engage with Rio Tinto and/or third parties regarding possible
interim funding," the company said in a statement.
end of bonds as ballast?
The days of using safe bonds as ballast for equity-heavy investment
portfolios may now be numbered for many investors - though what replaces
them is a much more complicated business.
No economic indicators are scheduled for release.
COMPANIES REPORTING RESULTS
July 3 & 6:
No major companies are scheduled to report.
No major events are scheduled for the day.
There are no major exdivs for the day.
(All analysts' estimates are according to I/B/E/S Refinitiv data)