The first session on Wall Street this week started with a strong growth indexes, but the positive mood could not be kept until the end of the day. Initial support came after a strong rise in European markets, where exchange measurements progressed with more than 2%. On the other hand, market participants were attracted by lower prices of U.S. stocks, resulting from sales in the last two weeks. On the economic calendar ISM index for services for June recorded a decline from 55.4 to 53.8 points, which was below analysts’ expectations for a weak correction to 55.2 points. Enterprise-level Microsoft bulls lead among blue chips, rose 2.35 percent to 23.82 dollars per share. Second Home Depot recorded the largest decline in the Dow Jones Industrial Average, losing 1.7 percent to 27.30 dollars. The energy sector remained the most stable after shares of British Petroleum advanced 8.7 percent to a 31.9 dollars per share. Exxon Mobil rose 1.5 percent to 57.46 dollars, while Chevron advanced by 0.37 percent to 67.56 dollars. Financial sector Bank of America rose 1.6 percent to 14.05 dollars, and JPMorgan added 1.4 percent to 36.33 dollars per share.
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Intentions to organize a record-sized IPO in the world by the Chinese bank Agricultural Bank of China undoubtedly attract media interest. Moreover, they clearly show the lack of finances in the banking system because large amounts of funds withdrawn last year. Initial estimates indicating whether the bank will be able to attract 30 billion dollars but the market situation is unlikely to allow it. We are seeing problems with the financing of Chinese banks, which last year allowed a record 9.6 trillion. yuan order for the government to support the economy. “The timing of the IPO-organizing it depended on the Agricultural Bank. It simply must be done to enable the bank to raise cash to meet regulatory requirements, “the Founder Securities. “All banks are facing a huge hole in revenue and massive demand for capital will surely outweigh the market in the long run, analysts say the company. Agricultural Bank is the last major bank in China, which is not public, will attempt to increase the supply of stock shares in Hong Kong 15%, with revenue that it could reach 22 billion dollars.
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