U.S. futures higher on Greece vote hopes; Dow up 0.45%
Investing.com
Published Jun 29, 2011 08:33AM ET
Dow Jones Industrial Average futures pointed to a gain of 0.45%, the S&P 500 futures climbed 0.55%, while Nasdaq 100 futures indicated an increase of 0.5%.
Ahead of the vote, Socialist deputy Thomas Robopoulos said that he would vote for the plan, backtracking from comments made last Friday, while opposition party member Elsa Papadimitrou also voiced her support.
Shares in lenders were broadly higher in pre-market trade, tracking strong gains made by their European counterparts.
Citigroup shares jumped 2.2%, shares in JP Morgan gained 1.5%, while U.S.-listed shares of National Bank of Greece rallied 6.2%.
Separately, Bank of America agreed to pay USD8.5 billion to settle claims with investors who lost money on mortgage-backed securities bought before the U.S. housing collapse in 2008. BofA shares surged 5.5% following the news.
Wholesale grocer BJ’s Wholesale Club saw shares jump 4.7% after it agreed to be acquired by private-equity firm Leonard Green & Partners for approximately USD2.8 billion.
Shares in mattress and bedding company Sealy soared 12% after it said fiscal second quarter revenue rose 10.6% to USD321 million, outstripping expectations of USD295 million.
On the downside, packaged food manufacturer General Mills saw shares slump 2.5% after it reported fiscal fourth quarter revenue totaled USD3.63 billion, falling short of market expectations for revenue of USD3.66 billion.
Meanwhile, Dell shares were in focus after the company announced late Tuesday share buybacks of more than USD2 billion during the current fiscal year.
Across the Atlantic, European stock markets rallied on optimism over Greece. The EURO STOXX 50 surged 1.9%, France’s CAC 40 jumped 1.8%, Germany's DAX gained 1.85%, while Britain's FTSE 100 advanced 1.3%.
During the Asian trading session, regional indices were broadly higher. Japan’s Nikkei 225 index jumped 1.5%, while Australia’s ASX/200 Index closed 1.2% higher.
Later in the day, the U.S. was to publish industry data on pending home sales as well as a report on crude oil inventories.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.