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DAILY MARKET OVERVIEW
Today's Top Market Headlines – Jul 10, 2017
Asia firms on Wall Street cheer after U.S. jobs data beats forecasts

Asian stocks rose on Monday thanks to a robust Wall Street performance at the end of last week, while the U.S. dollar extended gains made after much stronger than expected June employment data.

European stock markets were also poised for a more positive start, with financial spreadbetter CMC Markets expecting Britain’s FTSE 100 (FTSE) and Germany’s DAX (GDAXI) to open up 0.4 percent each, and France’s CAC 40 (FCHI) to start the day 0.3 percent higher.

By Nichola Saminather

(Jul 10, 2017 08:03 GMT)

Source: http://bit.ly/2uHaWad

China's COSCO Shipping offers $6.3 billion for Orient Overseas Ltd

COSCO Shipping Holdings Co Ltd (SS:601919) has offered to buy Orient Overseas International Ltd (OOIL) (HK:0316) for HK$49.23 billion ($6.30 billion), in a deal that will see the mainland China group become the world’s third largest container liner.

The proposed deal is the latest in wave of mergers and acquisitions in global container shipping that has left the top six shipping lines controlling 63 percent of the market. OOIL’s shipping subsidiary, OOCL, has a 2.7 percent slice of the market.

By Brenda Goh and Matthew Miller

(Jul 09, 2017 11:13PM ET)

Source: http://bit.ly/2v2rGrT

Gold slides to fresh 4-month low at start of busy week

Gold prices fell to a fresh four-month low in European trade on Monday, as investors looked ahead to comments from key Fed officials and a raft of U.S. economic data for further signs of the central bank’s likely rate hike trajectory through the end of the year.

Comex gold futures were at $1,205.63 a troy ounce by 3:15AM ET (0715GMT), down $4.20, or around 0.4%. It touched it its lowest since March 15 at $1,204.00 earlier.

Gold fell sharply on Friday to notch its fifth weekly loss in a row as upbeat monthly data on U.S. jobs supported expectations for at least one more rate hike from the Federal Reserve this year.

 

(Jul 10, 2017 08:23)

Source: http://bit.ly/2tYT3q8

Apple to build second renewables-powered data center in Denmark

Apple Inc (NASDAQ:AAPL) said Monday it will spend 6 billion Danish crowns ($921 million) on a new data center in Denmark, its second in the Nordic country to run entirely on renewable energy.

Facebook Inc (NASDAQ:FB) in January also announced plans to build a data center in Denmark, only its third outside of the United States.

Apple said the data center would begin operations in the second quarter of 2019 in Aabenraa in southern Denmark near the German border.

It will power Apple’s online services, including the iTunes Store, App Store, iMessage, Maps and Siri for customers across Europe.

By Jacob Gronholt-Pedersen

(Jul 10, 2017 06:04AM ET)

Source: http://bit.ly/2sWowcQ