ECB Approves Greek Proposals for Market Reopening, Official Says

PT. Equityworld Futures - The European Central Bank has given approval to Greece’s proposals for the reopening of the country’s financial markets, a spokeswoman for the Athens Stock Exchange said today in a telephone call.
The timing of the reopening will be decided by Greece’s finance ministry, in a decree that will also decide any trade restrictions and ground rules for trading, said the spokeswoman, who asked not to be named in line with policy.
Spokesmen for the Bank of Greece, the ECB and the Greek finance ministry weren’t immediately available for comment. Trading on the Athens Stock Exchange has been suspended since June 29, following the introduction of capital controls in Greece.
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HSBC lowers 2015, 2016 gold price forecasts

PT. Equityworld Futures - HSBC lowered its average gold price forecasts for 2015 and 2016 on Monday to reflect the dramatic recent fall of the yellow metal and said it could touch within striking distance of $1,000 per ounce before recovering.
The bank lowered its 2015 average gold price to $1,160 per ounce and $1,205 for 2016 from $1,234 and $1,275 per ounce earlier, respectively. However, it kept its long term price forecasts of $1,325 per ounce unchanged.
"In the short term we would not be surprise ..
surprised to see gold lower. However, we are expecting a bounce by year end to $1,205 per ounce and are then expecting the price to travel largely sideways next year hitting $1,255 per ounce by year-end," HSBC said in a note.
Gold lost ground on Monday, moving closer to last week's 5-1/2 year lows below $1,100 per ounce, with expectations for a near-term U.S. interest rate hike seen keeping momentum firmly with the bears.
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U.S. Stocks Fluctuate as Facebook Pares Decline, Mondelez Gains

PT. Equityworld Futures - U.S. stocks fluctuated as Facebook Inc. pared earlier losses and a rally in Mondelez International Inc. helped offset Procter & Gamble Co.’s decline after results disappointed.
Facebook dropped 2.9 percent, and earlier more than 5 percent, after second-quarter spending jumped 82 percent. P&G retreated 3.5 percent after forecasting sluggish sales and profit growth. Whole Foods Market Inc. tumbled 11 percent after cutting its sales forecast. Modelez added 5 percent as quarterly profits beat estimates, and Western Digital Corp. jumped 10 percent.
The Standard & Poor’s 500 Index slipped 0.1 percent to 2,105.90 at 12:14 p.m. in New York, after falling as much as 0.6 percent. The gauge rebounded above its average prices during the past 50 and 100 days. The Dow Jones Industrial Average lost 16.83 points, or 0.1 percent, to 17,734.56. The Nasdaq Composite Index gained 0.1 percent.
A report today showed gross domestic product rose at a 2.3 percent annualized rate, and a revised 0.6 percent advance in the first quarter wiped out a previously reported contraction. Consumer spending grew more than projected. Separate data showed applications for unemployment benefits rose last week after reaching a four-decade low, consistent with a stronger labor market.
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Asian Stocks Follow U.S. Slump as Investors Await China Data

PT. Equityworld Futures - Asian stocks fell, after the Dow Jones Industrial Average posted its worst week since January, as investors awaited data on China amid a selloff in commodities.
The MSCI Asia Pacific Index dropped 0.4 percent to 141.95 as of 9:00 a.m. in Tokyo after the Dow slumped 2.9 percent last week. China reports on industrial company profits Monday, providing further clues on the slowdown in Asia’s largest economy. Gold is trading near a five-year low and oil is in a bear market amid concern raw material supplies are outpacing demand. In the U.S., data are due on durable and capital goods orders, with investors looking to this week’s meeting of the Federal Reserve to gauge the timing for higher interest rates.
Japan’s Topix index fell 0.7 percent. South Korea’s Kospi index dropped 0.5 percent. Australia’s S&P/ASX 200 Index lost 0.2 percent and New Zealand’s NZX 50 Index slipped 0.4 percent.
Futures on Hong Kong’s Hang Seng Index sank 0.7 percent in most recent trading, with contracts on the Hang Seng China Enterprises Index, a gauge of mainland Chinese stocks listed in the city, down 1.1 percent. Futures on the FTSE China A50 Index, which tracks the largest Chinese companies, lost 0.8 percent and CSI 300 Index contracts declined 3 percent in Friday trade.
S&P 500 e-mini futures were little changed on Monday. The underlying equity gauge lost 1.1 percent on Friday.
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