Deposit outflows from Greece's banks rose last week to around 3 billion euros, according to JP Morgan estimates, ahead of Friday's last-minute aid extension agreement with the country's euro zone creditors.
Investors
Strong dollar hurts HP's earnings forecast, shares plummet
Hewlett-Packard Co (HPQ.N) reported flat or lower quarterly revenue in all its operating units on Tuesday, and forecast full-year earnings well below analysts' expectations due to the strong U.S. dollar.
Dow, S&P finish at records after Yellen comments
U.S. stocks closed higher on Tuesday, with the Dow and S&P 500 hitting records, as investors attempted to interpret a subtle change in emphasis in testimony by Federal Reserve Chair Janet Yellen.
British American Tobacco mulls $3.5 billion buyout of Brazil unit stake
British American Tobacco Plc (BATS.L) is considering a buyout of the 24.7 percent stake it does not already own in Souza Cruz SA (CRUZ3.SA), Brazil's largest cigarette company, in a deal that could cost about 2.3 billion pounds ($3.53 billion).
Asia shares inch ahead, hostage to Fed outlook
Asian share markets crept higher on Tuesday as Tokyo scored another 15-year peak, though gains were hostage to what Federal Reserve Chair Janet Yellen might say later in the day about the likely lift-off date for U.S. rate hikes.
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Stock markets and the euro started the week on a cautious note on Monday as a Greek debt deal struck last week remained in the balance until Athens drew up a list of reforms to satisfy its creditors.
United Auto Workers President Dennis Williams, whose union indirectly controls the largest single block of General Motors Co (GM.N) shares, told Reuters an investor group’s proposal that GM buy back $8 billion of its stock is premature, and the amount too high for the company’s long-term health.
After a holiday-shortened trading week that pinned stocks in a tight trading range, equities are poised for a bout of renewed volatility as investors watch the economy and the Federal Reserve for signs of policy changes and economic strength.
The Dow and S&P 500 ended at record highs on Friday while the Nasdaq notched an eighth straight day of gains after Greek and euro zone finance ministers reached a deal to extend heavily indebted Greece's financial rescue by four months.
As the technology-heavy Nasdaq Composite Index closes in on the all-time high it reached in March 2000, investors are facing a market that barely resembles the go-go era of 15 years ago.
World stocks eased off five-month highs on Friday and the euro fell before a European finance ministers' meeting that could potentially cut Greece adrift and set it on the path to exiting the euro zone.
The Dow and S&P 500 eased on Thursday following declines in energy shares and a disappointing outlook from Wal-Mart, while the Nasdaq hit another 15-year high as Priceline shares jumped.
The U.S. dollar was nursing losses in Asia on Thursday while bonds held hefty gains as investors scaled back expectations on how fast, and how far, the Federal Reserve might raise interest rates in coming months and years.
The Dow and S&P 500 ended barely lower on Wednesday after a drop in energy shares but declines were limited by minutes from the latest Federal Reserve meeting, which showed policymakers are concerned about raising interest rates too soon.
