Market News: Chubb, Hartford Financial, SeaSpine Holdings

Market News: Chubb, Hartford Financial, SeaSpine Holdings
market news

The stock markets in the United States climbed driven by the strengthening optimism that a bailout agreement would be reached between Greece and its international creditors.

Sign up for our free newsletter

Greek Prime Minister Alexis Tsipras expressed his willingness to accept many of the terms in the financial aid package offered by its international creditors.

Seth Klarman’s 2021 Letter: Baupost’s “Never-Ending” Hunt For Information

Baupost's investment process involves "never-ending" gleaning of facts to help support investment ideas Seth Klarman writes in his end-of-year letter to investors. In the letter, a copy of which ValueWalk has been able to review, the value investor describes the Baupost Group's process to identify ideas and answer the most critical questions about its potential Read More

In a letter to the European Commission (EC), European Central Bank (EC) and International Monetary Fund (IMF), Prime Minister Tsipras said Greece is prepared to accept the agreement offered by the creditors. He also proposed changes to some of the sticking points of their disagreements such as the VAT reform, structural fiscal measures, pensions and labor markets.

Commenting on the situation, Phil Orlando, chief market strategist at Federated Investors told Bloomberg, “There was a lot of euphoria overnight thinking that the Greeks had capitulated.”


“I think as we’ve had a chance to study the situation a little more closely, and as a result of the fact that we don’t have a deal, we’ve seen some backsliding in the S&P over the course of the day,” added Orlando.

Meanwhile, ADP Research Institute in collaboration with Moody’s Analytics reported that American companies created 237,000 jobs in June, a sign the labor market continues to improve.

Mark Zandi, chief economist at Moody’s Analytics said, “The U.S. job machine remains in high gear. The current robust pace of job growth is double that needed to absorb the growth in the working-age population.”

U.S. Markets

  • Dow Jones Industrial Average (DJIA) – 17,757.91 (+0.79%)
  • S&P 500- 2,077.42 (+0.69%)
  • NASDAQ- 5,013.12 (+0.53%)
  • Russell 2000- 1,256.39 (+0.20%)

European Markets

  • EURO STOXX 50 Price EUR- 3,496.28 (+2.10%)
  • FTSE 100 Index- 6,608.59 (+1.34%)
  • Deutsche Borse AG German Stock Index DAX- 11,180.50 (+2.15%)

Asia-Pacific Markets

  • Nikkei 225- 20,329.32 (+0.46%)
  • Hong Kong Hang Seng Index- 26,250.03 (+1.09%)
  • Shanghai Shenzhen CSI 300 Index- 4,253.02 (-4.92%)

Stocks in Focus

The stock price of Chubb increased nearly 27% to $120.77 per share. The company’s board of directors approved its definitive agreement to be acquired b ACE Limited for $28.3 billion. The board of directors of ACE Limited also approved the deal.

Hartford Financial Services Group gained more than 6% to $44.19 per share. Zacks Equity Research recently issued a Hold rating on the stock while seven brokerage firms have a Strong Buy recommendation.

SeaSpine Holdings Corporation declined more than 20% to $19.11 per share, the biggest loser among the companies listed on NASDAQ today. Integra LifeSciencessubmitted a regulatory filing indicating its intention to spin-off SeaSpine.


Updated on

Marie received her Bachelors Degree in Mass Communication from New Era University. She is a former news writer and program producer for Nation Broadcasting Corporation (NBC-DZAR 1026), a nationwide AM radio station. She was also involved in events management. Marie was also a former Young Ambassador of Goodwill during the 26th Ship for Southeast Asian Youth Program (SSEAYP). She loves to read, travel and take photographs. She considers gardening a therapy.
Previous article Apple Inc. leaks new iPod colors in iTunes 12.2
Next article Generating Employment In Poor And Fragile States

No posts to display