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GLOBAL MARKETS LIVE: EssilorLuxottica, Nissan, Euronext, Uber…

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05/13/2019 | 09:33am EDT

On the agenda for the beginning of this week are rumors of progress in the difficult Renault and EssilorLuxottica cases, and a positive outcome for Euronext in Norway. There is also mention of the complicated stock market debut of Uber and a second Chinese shareholder in Mercedes' parent company, Daimler. US stock-index futures, Asian and European shares are down, amid increased tensions between China and the US.


S&P 500 futures down 1.3% to 2,851.00
Brent futures up 1.4% to $71.57/bbl
Gold spot down 0.2% to $1,283.32
US Dollar Index little changed at 97.31


Colfax gets lighter. Welding and valves manufacturer Colfax Corp is reportedly close to selling its air and gas handling division to private equity firm KPS Capital Partners for more than $1.8 billion, Reuters reports.

Is the war over? The Italian and French factions of EssilorLuxottica reached a compromise on Sunday, ending the ongoing proceedings and separating operational power between Francesco Milleri and Laurent Vacherot, to dispassionate the debate between their presidents Leonardo Del Vecchio and Hubert Sagnières. The group formalized the agreement through a press release.

The war is over 2? Renault has reportedly proposed a merger to Nissan, according to Japanese television TBS. In accordance with recent rumors, it proposed to create an umbrella structure in a country that will not be France or Japan, with an equal number of administrators for both manufacturers. The protagonists did not wish to comment at this time.

Green light for Euronext. The pan-European stock exchange operator has received the approval of the Norwegian Ministry of Finance to take control of Oslo Bors. Euronext, which has secured 53.4% of the capital, will complete the transaction by the end of June, despite the Nasdaq's counter-proposal.

Lyft-like. Uber's first stock market steps were very negative on Friday. In a rather complicated session, marked by a sharp increase in tension between China and the United States over trade, the stock, introduced at USD 45, ended the first session of its stock market life on a 7.6% drop to USD 41.57. The competitor Lyft, introduced a few weeks earlier, is currently going through a fairly similar process.

Daimler superstar. The Chinese BAIC is reportedly building a position of around 5% in Daimler, according to Reuters, in order to "secure its investment in Beijing Benz Automotive". The German's local partner reportedly warned Daimler of his intentions. The shares began to be purchased on the market. 5% of the capital represents an investment of around €3 billion. Daimler's largest shareholder is already Chinese: Li Shifu and his Geely group, BAIC's competitor, hold 9.7% of the round table.

Drug cartel. Teva is accused by 44 US states of having organized a cartel on generic drug prices, which is contested by the group, which is not alone in the proceedings since 19 other laboratories are involved, including Sandoz (Novartis). The Israeli company is accused of being at the origin of the alleged entente, which allegedly caused prices to rise by 86 treatments between July 2013 and January 2015 in the United States.

In other news. Bayer hired a law firm to shed light on Monsanto's creation of a database of personalities in France based on their positions on pesticides. Colfax will sell its air & gas division to the KPS fund for $1.8 billion, according to Reuters. Metro Bank is considering selling more than £1 billion in loans, according to the Financial Times. The Cloud Peak mining group is filing for bankruptcy protection in the United States.
Stocks mentioned in the article
ChangeLast1st jan.
BAIC MOTOR CORP LTD 0.95% 5.32 End-of-day quote.27.27%
BAYER 1.52% 67 End-of-day quote.0.00%
COLFAX CORP -2.83% 26.74 Delayed Quote.27.94%
DAIMLER AG -1.47% 46.13 Delayed Quote.0.48%
DJ INDUSTRIAL -0.42% 27219.85 Delayed Quote.16.69%
ESSILORLUXOTTICA -0.73% 115.55 Real-time Quote.5.52%
KPS AG -0.86% 6.93 Delayed Quote.15.50%
LONDON BRENT OIL 0.38% 63.82 Delayed Quote.22.20%
LYFT INC 0.57% 65.17 Delayed Quote.0.00%
METRO BANK PLC -5.32% 473 Delayed Quote.-72.06%
NASDAQ 100 -0.48% 7888.761951 Delayed Quote.25.23%
NASDAQ COMP. -0.46% 8185.205615 Delayed Quote.24.46%
NISSAN MOTOR CO LTD -0.79% 768 End-of-day quote.-10.29%
RENAULT -1.15% 51.57 Real-time Quote.-4.34%
S&P 500 -0.65% 2984.42 Delayed Quote.19.83%
UBER TECHNOLOGIES INC -1.16% 43.62 Delayed Quote.0.00%
US DOLLAR INDEX -0.18% 97.22 End-of-day quote.0.55%

Romain Fournier
© MarketScreener.com 2019
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