10 things you need to know in markets today

Good morning! Here are 10 things you should know in markets today.Greek Prime Minister Alexis Tsipras has lost 4 key allies ahead of Sunday's bailout referendum. Members of the right-wing party Independent Greeks, whose votes Tsipras' left-wing Syriza party needs for a majority, defied him by urging Greeks to accept more austerity in return for cash.Greek banks are down to their last '500 million (355 million, $555 million). Writing in The Telegraph on Thursday, Ambrose Evans-Pritchard cites the head of the Hellenic Chambers of Commerce, who told The Telegraph that: "We are reliably informed that the cash reserves of the banks are down to '500 million. Anybody who thinks they are going to open again on Tuesday is day-dreaming."The EU and IMF are heaping pressure on Greece ahead of Sunday's controversial referendum. The IMF slashed its forecast for Greece's growth this year to zero, from 2.5%, and warned it will need at least an additional '50 billion (35 billion, $55 billion) to stabilise its finances over the next three years.Markit will release its closely watched composite PMI reading for the Eurozone in June at 9 a.m. BST (4 a.m. ET), giving a good idea of the economic health of the bloc. Economists are predicting a reading of 54.1, up from May's 53.4 figure. Anything above 50 signals growth.Royal Bank of Scotland faces a $13 billion (8.33 billion) bill in the US to resolve claims it misled purchasers of mortgage-backed securities during the financial crisis. The FT reports that government-backed RBS may not be able to pay the sum to Fannie Mae and Freddie Mac, the US government-backed mortgage companies.China's securities market regulator has opened an investigation into suspected market manipulation. It's the latest in Beijing's increasingly desperate attempts to head off a potential stock market crash that could damage an already slowing economy.China's main stock market continues its extremely rocky run of form. The Shanghai Composite is currently down around 2.1% but fell as much as 7% in early trade.China's stock markets have fallen close to 30% since highs in mid-June.Elsewhere Asian markets are steady. Japan's Nikkei is up 0.15% at time of writing, while Hong Kong's Hang Seng is up 0.06%.BP has reached an agreement with US authorities to pay up to $18.7 billion (11.9 billion) to settle claims from the 2010 Gulf of Mexico spill.BP's agreement, described by the White House as 'historic', spreads payments to the US government, five Gulf of Mexico states and 400 local governments over 18 years,according to the Times.A former top FIFA official who left after criticising its president Sepp Blatter has warned that big sponsors will start leaving unless major reforms are undertaken. Michel Zen-Ruffinen, who succeeded Blatter as FIFA secretary general from 1998 until 2002 when the latter was elected president, said he would be interested in returning to the body if "order" is restored to the scandal-tainted body.Join the conversation about this storyNOW WATCH: This 1998 supercar could auction for $15 million
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