While America was off eating the
and hot dogs of
), which hit the highest level in its history ahead of the July 4
holiday, it was the PIIGS that brought home the bacon. European
equities posted their single best showing in ten weeks yesterday,
paced by an impressive rebound in previously beleaguered Portugal,
Banco Espirito Santo
(ELI:BES) surged some 12%. London's
FTSE 100 Index
(INDEXFTSE:UKX) jumped 3% for its strongest performance since 2011,
with the newly-installed "
George Clooney of central banking
" clearly sweeping the "
Old lady Threadneedle Street
" off her feet. (Mark Carney
is obviously fond of females, at least on his
Paying appropriate homage to the distaff side in the week we
honored Miss Liberty, "Old Gray Lady"
The New York Times
) rose 2.57% to a fresh 52-week peak on a
), founded by the "
first woman of finance
", advanced 8.05%. Elsewhere
), named after the Greek Goddess of victory, had the last laugh on
), which declined 1.40% amid one of the
most embarrassing episodes in recent corporate
(SSNLF) released its results earlier today, in an otherwise quiet
session for earnings announcements.
(AA) will unofficially usher in Q2 reporting season after the
closing bell on Monday.
ALSTOM UNSP ADR
(ALSMY): Deutsche Bank downgrades the stock to a Hold from Buy,
sending it lower overseas this morning.
(CAKFY): The pharmacy solutions stock is cut to Hold from Buy at
(ELX): Shares are slashed to Hold from Buy at Argus following
Wednesday's 14.41% surge.
HEINEKEN HOLDING NV
(HKHHF): JPMorgan gives an Underweight-from-Neutral downgrade to
the Dutch brewing behemoth, whose other brands include Amstel, Dos
Equis - drunk by "
the most interesting man in the world
" - and Foster's. Amid adverse European weather and emerging market
inflation, a 4% fall-off in beer volumes may occur, the bank
(HFC): Bank of America-Merrill Lynch lowers the energy outfit to
Neutral from Buy.
Marathon Petroleum Corp
(MPC): MPC, a strong performer in Wednesday's truncated trading
session, is today moved to Neutral from Buy by Bank of
Mead Johnson Nutrition CO
(MJN): Morgan Stanley moves the stock, which imploded an
(^GSPC)-worst 8.08% on Wednesday, to Equal-Weight from Overweight.
Pricing headwinds are a particular worry for the pediatric
(SAP): The enterprise software giant, a key
(ORCL) rival, gets reduced to Hold from Buy at Deutsche Bank.
Stock Upgrades: Unilever N.V. Flies High on the Wings of