Monday, June 12, 2017

Today's Headlines

  • May Said to Tell Tories: ‘I’ll Get Us Out of This Mess’. U.K. Prime Minister Theresa May told rank-and-file lawmakers from her Conservative Party that she takes responsibility for their general-election defeat last week and will stay on as head of government only as long as they want her to. “I’m the person who got us into this mess and I’m the one who will get us out of it,” May said Monday, according to two lawmakers who were in the private meeting. May was appearing for the first time since the election in front of lawmakers furious at the catastrophic campaign that cost the party its majority and threatens to end her premiership.
  • Pound Extends Drop as U.K. Political Chaos Adds to Brexit Stress. (video) The pound fell against all its Group-of-10 peers on the prospect of an unstable coalition government heading into Brexit talks with the European Union in a week’s time.
  • U.S. Bears Return to China With Shorts Circling $6 Billion ETFs.
  • Tech Selloff Doesn't Mean Investors Have Given Up on the Bull Market. With the tech meltdown showing no sign of abating, equity bulls are taking solace in how little money is actually leaving the stock market as a whole. The trend can be seen in investment flows, where one of the biggest withdrawals from exchange-traded funds tracking technology shares in a year was more than offset by deposits into banks, energy producers and retailers.
  • European Stocks Slide as Technology Selloff Spreads Around World. (video) European stocks fell as investors dumped technology shares while assessing political events in the U.K. and France. The Stoxx Europe 600 Index dropped 1 percent at the close. Technology shares led the declines, following their peers in U.S. and Asian markets, with the European tech sector falling the most in a year. The Stoxx 600 rose 0.3 percent Friday, boosted by gains in the U.K.’s FTSE 100 Index.
  • Your Evening Briefing.
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