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Romain
Fournier

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GLOBAL MARKETS LIVE: Franklin Templeton, Google, Anbang, WeWork…

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08/14/2019 | 08:46am EDT

The news is relatively quiet when it comes to companies, as the largest part of the earnings season is now behind us. US stock-index futures declined with European stocks.




US MARKETS:

S&P 500 futures down 0.5% to 2,918.00
Brent futures down 0.9% to $60.76/bbl
Gold spot down 0.1% to $1,500.29
US Dollar Index little changed at 97.75

GLOBAL NEWS:

Earnings season: Canada Goose, Macy’s, Metro Inc, Canopy Growth and Cisco are among companies reporting earnings today.

A review of corporate results. Tencent's earnings top estimates, driven by gaming hits like Peacekeeper Elite and Honour of Kings. However, revenues weren’t on par. Meanwhile, Cisco's results after the close may signal a softening in European business spending, but it should still ride the wave of campus-network upgrades, Bloomberg Intelligence said.

Star fund manager Hasenstab lost $1.8bn in one day. Franklin Templeton, the management company specializing in emerging markets suffered a $1.8 billion loss on Monday, due to risky bets on Argentina in funds belonging to Templeton’s manager Michael Hasenstab. Franklin Templeton is one of the largest debt holders in Argentina.

Digital giants testify on the French tech tax. Google, Facebook and Amazon are among the companies due to testify Monday at a U.S. government hearing on the French government’s digital services tax. The text adopted in early July in Paris provides that a 3% tax on revenues that will apply retroactively from 1 January 2019 to companies with a turnover on their digital activities of at least €750 million worldwide and more than €25 million on French soil.

Anbang eyed by Blackstone. Chinese group Anbang Insurance is looking to sell its $2.4 billion property portfolio in Japan. Its previous owner, Blackstone Group is bidding, Reuters reports.  The portfolio includes mainly residential buildings in Tokyo and other big cities.

WeWork launches IPO. The shared office rental specialist has launched an initial public offering. Valued at $47 billion, its paperwork reveals billions in losses, several leases, and growing revenue.

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET -0.71% 1191.8304 Delayed Quote.14.88%
AMAZON 1.57% 1800.8 End-of-day quote.15.96%
BLACKSTONE GROUP 1.13% 43.395 Delayed Quote.58.11%
CANADA GOOSE HOLDINGS INC 1.12% 52.18 Delayed Quote.-16.02%
CANOPY GROWTH CORP 2.41% 36.52 Delayed Quote.1.75%
CISCO SYSTEMS -0.79% 48.105 Delayed Quote.11.93%
DJ INDUSTRIAL -0.23% 26071.02 Delayed Quote.12.04%
FACEBOOK -0.45% 185.33 Delayed Quote.42.02%
LONDON BRENT OIL -0.77% 59.19 Delayed Quote.7.76%
NASDAQ 100 -0.23% 7701.568214 Delayed Quote.20.13%
NASDAQ COMP. -0.22% 7985.16349 Delayed Quote.19.00%
S&P 500 -0.36% 2913.03 Delayed Quote.15.23%
US DOLLAR INDEX 0.21% 98.35 End-of-day quote.1.72%

Romain Fournier
© MarketScreener.com 2019
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