The news of its chairman resigning today, the day
after the CEO quit, encourage a huge sell off of the stock.
The FTSEurofirst was up .2% as investors placed cautious bets to brace themselves for the upcoming
Greek elections. The Pharmaceutical and food & beverage industries led the way to shallow gains. In
Spain retailer Inditex was rewarded for their first quarter profit growth with an 8.4% jump in stock
prices.
In the US the MBA purchase applications were released today with purchase applications jumping 13%,
their highest level in 6 months, pointing to strength in home sales. Refinancing applications also 19%
back to its levels of April.
In commodities energy and metals are down today; crude, natural gas, gold and silver all in the red.
Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market.
Comments can be directed to ryghcw19@uww.edu