It’s expected to be a relatively quiet day on global markets as the US markets are closed for the Juneteenth public holiday. Nonetheless, we’re anticipating results from the US on their housing data later today, which usually give indications of consumer confidence. China and Hong Kong also have public holidays later in the week which could lead to a muted market environment for the week.
Coca-Cola, one of the world's largest drinks companies, has announced today that it will acquire Finlandia Vodka. It forms part of their strategy to acquire more premium spirits companies. With some analysts noting that insiders have sold more Coca-Cola shares than they’ve been buying, only time will tell if it is a solid strategy.
AstraZeneca, one of the UK’s largest listed pharmaceutical companies, announced plans to separate its business in China in order to protect the entities they have in the region from ever-changing geopolitical tensions. The fears revolve around the increasing focus of the Chinese government on domestic companies. They have cautioned that it is only a plan, and might not go ahead.
Sources: AJ Bell, Nasdaq, Reuters, IG reports, Financial Times