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GLOBAL MARKETS LIVE: Casino, General Motors, UBS, Target…

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09/05/2019 | 10:30am EDT

The news is quite busy today. UBS is expected to restructure its investment bank, while GM's boss has an appointment at the White House. U.S. equity-index futures, European and Asian shares are rising after the resumption of talks between China and the US.


S&P 500 futures up 0.8% to 2,962.25
Brent futures up 0.2% to $60.83/bbl
Gold spot down 0.7% to $1,541.85
U.S. Dollar Index down 0.08% to 98.37


Earnings season. Safran, Altran, Costco Wholesale, Lululemon, Melrose Industries, Sofina and Dixons Carphone are among companies reporting earnings today.

A major shareholder at Casino. Daniel Kretinsky and his holding company Vesa Equity have taken a 4.63% stake in French distributor Casino. The Czech businessman, present in the distribution through shares in Metro and Mall Group, received the blessing of Casino boss Jean-Charles Naouri. "This equity investment reflects our conviction that Casino, Guichard-Perrachon is the best-positioned retail group in the French market and one of the European leaders best able to respond to the profound transformations in the sector," Daniel Kretinsky commented in the distributor's statement. This announcement comes at a time when newsletter Lettre A also reveals that Jean-Charles Naouri has mandated a lobbying firm to mobilize in Brussels against the destabilization operations of activist funds.

Nissan-Renault saga. The trial of Carlos Ghosn (ex CEO of Renault, Nissan) is scheduled to start in March 2020 in Japan. At the same time, Hiroto Saikawa, Nissan's Managing Director, acknowledged that he had received an overpayment of salary, which he planned to return. Other Nissan executives were also reportedly overpaid. Saikawa, quick to outrage against his former boss, said he was sorry for these compensation issues but that he was not involved in their implementation.

A coffee at the White House. General Motors boss Mary Barra will meet Donald Trump today in the early afternoon, after the US President's attacks on the manufacturer, accused of producing little in the US. The discussions, Reuters learned, could also focus on tariffs and vehicle efficiency standards.

Rumor and denial. Schindler had to deny during the meeting rumors of a takeover by competitor Otis (United Technologies). The news comes from the Italian daily Il Sole 24 Ore. A merger between the two groups would undoubtedly create thorny competition problems.

Another bank on a diet. UBS Group will restructure its investment bank, according to information from the Financial Times. Several hundred jobs could be cut, especially at senior levels, according to information obtained by the British business daily. A formal presentation should be made to the bank's employees today.

Indices shake-up. ThyssenKrupp will leave the DAX on September 23, replaced by MTU Aero Engines. Marks & Spencer, Direct Line and Micro Focus will leave the FTSE 100 on September 23, replaced by Polymetal, Meggitt and Hikma.

In other news. Target puts pressure on its suppliers to collect the extra cost of customs duties. The pilots' union BALPA has announced an additional seven days of strike at Ryanair. Samsung's folding smartphone, the Galaxy Fold, will be on sale Friday in South Korea for USD 1977. Microsoft is offering Movere, a specialist in cloud migration software. Charles Schwab closes its Singapore branch. Slack sank after his first publication of results. Equinor is launching a $5 billion share buyback program. Apple will issue $7 billion of debt, the first return to the bond market for the group since 2017. Davide Campari buys Rumantilles.
Stocks mentioned in the article
ChangeLast1st jan.
ALTRAN TECHNOLOGIES -0.49% 14.205 Real-time Quote.102.78%
APPLE INC. -0.23% 239.96 Delayed Quote.52.47%
CASINO GUICHARD-PERRACHON -1.06% 43.83 Real-time Quote.20.61%
COSTCO WHOLESALE CORPORATION -0.37% 299.97 Delayed Quote.47.25%
DAVIDE CAMPARI-MILANO S.P.A. -1.86% 7.91 End-of-day quote.9.55%
DAX 0.05% 12754.69 Delayed Quote.20.79%
DIRECT LINE INSURANCE GROUP PLC -0.62% 287.9 Delayed Quote.-9.66%
DIXONS CARPHONE -2.91% 133.55 Delayed Quote.11.20%
DJ INDUSTRIAL -0.15% 26788.1 Delayed Quote.14.84%
EQUINOR 0.00%End-of-day quote.0.00%
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.0.00%
GENERAL MOTORS COMPANY 1.06% 36.31 Delayed Quote.7.41%
HIKMA PHARMACEUTICALS PLC 0.00% 1965 Delayed Quote.14.51%
LONDON BRENT OIL -0.30% 59.4 Delayed Quote.9.51%
LULULEMON ATHLETICA INC. -0.43% 204.4 Delayed Quote.68.08%
MEGGITT 23.39% 571.3 End-of-day quote.0.00%
MELROSE INDUSTRIES 0.00%End-of-day quote.0.00%
MICRO FOCUS INTERNATIONAL PLC 0.00%End-of-day quote.0.00%
MICROSOFT CORPORATION -1.49% 136.37 Delayed Quote.34.26%
NASDAQ 100 -0.83% 7874.615602 Delayed Quote.24.31%
NASDAQ COMP. -0.72% 8104.295257 Delayed Quote.21.92%
NISSAN MOTOR CO., LTD. -0.97% 682.6 End-of-day quote.-20.27%
POLYMETAL INTERNATIONAL -0.21% 1175.5 Delayed Quote.43.00%
RENAULT -0.16% 49.005 Real-time Quote.-10.17%
S&P 500 -0.36% 2995.99 Delayed Quote.19.51%
SAFRAN 0.76% 139.05 Real-time Quote.31.93%
SCHINDLER HOLDING AG -0.48% 227.5 Delayed Quote.16.08%
SOFINA -0.49% 202 Delayed Quote.21.83%
TARGET CORPORATION -0.43% 113.19 Delayed Quote.72.01%
THE CHARLES SCHWAB CORPORATION 0.00%End-of-day quote.-1.15%
UBS GROUP 0.00% 11.445 Delayed Quote.-8.58%
US DOLLAR INDEX 0.21% 97.53 End-of-day quote.0.87%

Romain Fournier
© MarketScreener.com 2019
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