UK Market Talk Roundup: Broker Comments

Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, markets.eu@dowjones.com 

        0818 GMT [Dow Jones]--CAC-40 is down 1.6% at 4729.74 after Greeks vote against their international creditors' conditions for further bailout. French banks are among the biggest losers, with BNP Paribas trading down 2.9%, Societe Generale 2.8% lower and Credit Agricole 1.9% off. But French stocks haven't witnessed yet the sharp declines some investors feared. Investors are now waiting for the European Central Bank's next move. (noemie.bisserbe@wsj.com)
        0735 GMT [Dow Jones]--London's FTSE 100 is 0.7% lower at 6540 shortly after the open, mirroring similar moves across the rest of Europe a day after Greeks overwhelmingly voted against their international creditors' conditions for further bailout aid. Rolls-Royce is the biggest loser, down 8.8%. Earlier in the session the group said it is suspending its share-buyback program after sluggish demand for its less powerful aircraft turbines and marine engines unexpectedly weighed on profit. Royal Mail is the biggest gainer, up 1%, followed by Severn Trent, up 0.7%, and Randgold Resources, up 0.5%. (josie.cox@wsj.com)
        0633 GMT [Dow Jones]--Germany's DAX is poised Monday to open 2.1% lower at 10,821.70, according to Commerzbank, and is expected to trade in a volatile fashion as financial markets try to make sense of the surprisingly clear Greek 'no' vote to the creditors' bailout terms. The euro fell immediately after the result. The 'no' vote has increased the probability of a Grexit and is thus negative from a market perspective, with safe-haven buying of German government bonds and some widening in peripheral bond spreads to expect, Deutsche Bank analysts say. The response by European leaders and the ECB will be crucial for reversing those moves this week, they say. Greek finance minister Yanis Varoufakis has resigned, to help reach a deal with creditors. (ulrike.dauer@wsj.com)
        0617 GMT [Dow Jones]--European stock markets are set to open sharply lower after the Greek people voted 'no' on whether to accept creditors' demands. European bourses are seen opening around 3% lower, although the recent resignation of Greek finance minister Yanis Varoufakis may temper losses if the path to a new deal is now clearer. "Traders and investors alike have so many questions and answers are going to be hard to come by. This lack of clarity is likely to keep risk rallies limited, especially with various major markets showing signs of steep downtrends," says Chris Weston at IG Index. (nick.cawley@wsj.com)
        0616 GMT [Dow Jones]--France's CAC-40 is set to open 2.9% lower at 4668.78. That's a sharp fall, but not nearly as sharp as some were expecting after Greek people voted 'no' in Sunday's referendum, says a Paris-based trader. "The most important thing is to know now is how the ECB will react," trader says. "Who knows, we could be at -5% by the end of the day. On the other hand, if the ECB takes aggressive action we'd see a quick recovery," the trader says. Focus during the session will be set entirely on reactions from European leaders, finance ministers and central bankers. (william.horobin@wsj.com)
        (END) Dow Jones Newswires

        July 06, 2015 04:18 ET (08:18 GMT)

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