Source: www.theguardian.com - Thursday, June 04, 2015 Investors concerned as Greece edges closer to deadline for deal Leading shares fell to a two month low as the brinkmanship over Greece continued despite another round of late night meetings. With clear differences between the proposals put forward by the Greek government and the country’s creditors, the prospect of an imminent deal is looking slim. Greece is expected to make a €305m payment to the International Monetary Fund on Friday, but time is tight for an agreement before the cash runs out. [The falls follow] news that one Chinese broker is cutting back on margin trading, and this signals the strain the second-largest economy in the world is under. China’s economy is too dependent on credit and it feels like the pressure cooker is about to blow. Dairy Crest sounds confident that its dairy sale to Muller will be cleared by the Competitions and Markets Authority, which will pave the way to it becoming a largely branded, UK food company. We feel there is some upside potential in the stock price if all goes to plan, without assuming any bid speculation, which could arise once the group sheds what has been a very effective “poison pill”. We move to a buy with a new target price of 554p. The last 12 months have been challenging for the oil and gas sector and in particular for Tullow. In order to withstand the current subdued macro environment, the company has increased and diversified its sources of debt capital, reduced its exploAll Related | More on investors
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