By 
US MARKETS:
S&P 500 futures little changed at 3,022.50
Brent futures up 0.7% to $63.62/bbl
Gold spot up 1% to $1,427.32
US Dollar Index little changed at 97.76
GLOBAL NEWS:
Earnings season. The list is still long today (about a hundred S&P500 and Stoxx Europe 600 stocks), including Amazon.com, Alphabet, Intel, Comcast, Starbucks, 3M Co in the United States. Roche, Anheuser-Busch Inbev, Total, Kering, Unilever, AstraZeneca, Diageo, Danone, Sika, STMicroelectronics, Casino and Schneider in Europe.
Advent buys Cobham. The Advent International fund will buy the British aeronautical subcontractor Cobham for GBp 165 per share in cash, the company said this morning, which has caused its share price to rise by more than 34% this morning on the London Stock Exchange. The offer values the capital at £4 billion. It is unanimously recommended by the company's directors, who see it as a good opportunity for shareholders to benefit from a 50% premium on the average of recent listed prices.
Nissan falls. The manufacturer saw its results decline significantly in the second calendar quarter of 2019, its first fiscal quarter. The group announced the loss of 12,500 jobs, more than the latest rumors had suggested, while its production is expected to fall by about 10% by 2022/2023. For Nissan, this deterioration comes at the height of the governance crisis with Renault.
In advance. Worldline will pay €1.07 billion to buy back the 36.4% it does not yet own in equensWorldline. "This 100% takeover will have an immediate positive impact on our net income, which is already growing strongly this half-year," said Gilles Grapinet, the company's Chief Executive Officer. In addition, the company states that the integration of SIX Payment Services is progressing "very well" and is starting "slightly ahead of schedule". The company also announced the issuance of an OCEANE bond.
A brief review of results around the world. Many earnings in the United States last night, including Tesla, which disappoints with higher than expected losses and unclear forecasts, especially since the manufacturer is making a new start in its senior management. Ford is also disappointing. PayPal is showering investors with a revised downward outlook while Facebook is reassuring with good results but overshadowed by comments on the rising costs of privacy protection. In Europe, Nokia, Repsol, AstraZeneca, Anheuser-Busch Inbev and Aalberts earn more than 4% after their results. On the other hand, Clariant, The Sage Group, Hella and Neste have disappointed and are losing more than 5%. More measured disappointments on UCB, Diageo and Sika.
Softbank beats the call back. Apple and Goldman Sachs will participate in Softbank's new fund, the Wall Street Journal has reported. The Japanese anticipate that this technology fund, the second after the first "Vision Fund" launched in 2017, will be endowed with $40 billion.
In other news. Salesforce signs a partnership with Alibaba. Two members of Uber's board of directors pass the baton. ABB is considering selling its Integrated DC Power division.
S&P 500 futures little changed at 3,022.50
Brent futures up 0.7% to $63.62/bbl
Gold spot up 1% to $1,427.32
US Dollar Index little changed at 97.76
GLOBAL NEWS:
Earnings season. The list is still long today (about a hundred S&P500 and Stoxx Europe 600 stocks), including Amazon.com, Alphabet, Intel, Comcast, Starbucks, 3M Co in the United States. Roche, Anheuser-Busch Inbev, Total, Kering, Unilever, AstraZeneca, Diageo, Danone, Sika, STMicroelectronics, Casino and Schneider in Europe.
Advent buys Cobham. The Advent International fund will buy the British aeronautical subcontractor Cobham for GBp 165 per share in cash, the company said this morning, which has caused its share price to rise by more than 34% this morning on the London Stock Exchange. The offer values the capital at £4 billion. It is unanimously recommended by the company's directors, who see it as a good opportunity for shareholders to benefit from a 50% premium on the average of recent listed prices.
Nissan falls. The manufacturer saw its results decline significantly in the second calendar quarter of 2019, its first fiscal quarter. The group announced the loss of 12,500 jobs, more than the latest rumors had suggested, while its production is expected to fall by about 10% by 2022/2023. For Nissan, this deterioration comes at the height of the governance crisis with Renault.
In advance. Worldline will pay €1.07 billion to buy back the 36.4% it does not yet own in equensWorldline. "This 100% takeover will have an immediate positive impact on our net income, which is already growing strongly this half-year," said Gilles Grapinet, the company's Chief Executive Officer. In addition, the company states that the integration of SIX Payment Services is progressing "very well" and is starting "slightly ahead of schedule". The company also announced the issuance of an OCEANE bond.
A brief review of results around the world. Many earnings in the United States last night, including Tesla, which disappoints with higher than expected losses and unclear forecasts, especially since the manufacturer is making a new start in its senior management. Ford is also disappointing. PayPal is showering investors with a revised downward outlook while Facebook is reassuring with good results but overshadowed by comments on the rising costs of privacy protection. In Europe, Nokia, Repsol, AstraZeneca, Anheuser-Busch Inbev and Aalberts earn more than 4% after their results. On the other hand, Clariant, The Sage Group, Hella and Neste have disappointed and are losing more than 5%. More measured disappointments on UCB, Diageo and Sika.
Softbank beats the call back. Apple and Goldman Sachs will participate in Softbank's new fund, the Wall Street Journal has reported. The Japanese anticipate that this technology fund, the second after the first "Vision Fund" launched in 2017, will be endowed with $40 billion.
In other news. Salesforce signs a partnership with Alibaba. Two members of Uber's board of directors pass the baton. ABB is considering selling its Integrated DC Power division.
