Barchart U.S. Morning Call

Global stocks are mixed with the European DJ Stoxx 50 Index up +0.29% at a 2-1/2 month high and June S&Ps down -2.30 points. The dollar and Treasuries are higher and most commodities are weaker. European markets are higher after being closed since last Thursday as they play catch up to the rally in US markets yesterday. The Apr Euro-Zone Sentix investor confidence rose a more-than-expected +7.0 to a 1-3/4 year high of 2.5. Basic resource companies rallied after yesterday's rise in crude oil to a 1-3/4 year high and the surge in copper to a 20-month high. Renault SA gained nearly 3% after people with direct knowledge of secret talks said that Renault, Nissan Motor and Daimler AG expect to save "billions of euros" by sharing development costs as part of an equity-swap alliance. Ryanair climbed 1.5% after Deutsche Bank upgraded the stock to "buy" from "hold" and Lafarge SA, the world's biggest cement maker, rose 2.7% after the Sawiris family purchased 6 million options in Lafarge which if exercised, would lead to an increase of 2.1% from the current Sawiris holding of 13.9% in Lafarge. The euro weakened after Market News cited unidentified officials as saying Greece might seek a rescue package that doesn't involve the IMF. Greece has been receiving information from the IMF about the conditions it would impose in return for aid and government officials found them to be "tough," and are concerned that they could result in civil unrest. (more)