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GLOBAL MARKETS LIVE: Goldman Sachs, Deutsche Bank, Google, Exxon Mobil…

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05/20/2019 | 09:35am EDT

Huawei may have to deal with a basic Android. Rich Italians want to protect Generali. T-Mobile US and Sprint are ready to do a lot to save their merger. U.S. stock index futures and European shares are down, while Asian shares were mostly mixed.


S&P 500 futures down 0.2% to 2,857.00
Brent Futures up 0.6% to $72.67/bbl
Gold spot down 0.2% to $1,275.32
US Dollar Index down 0.03% to 97.97


Earnings season. International Game, Nordson, Telecom Italia, Ryanair and Grand City Properties are among companies reporting earnings today.

B&B Hotels for sale. PAI Partners fund announced today that it entered into exclusive negotiations with Goldman Sachs' Merchant Banking division for the sale of the B&B Hotels hotel chain. The sale is expected to be completed in the second half of 2019. According to Bloomberg, the transaction could reach $2.2 billion.

Asian diet. LafargeHolcim completed the sale of its Malaysian subsidiary to Cement Berhad for an enterprise value of CHF 982 million. The cement manufacturer thus continues to offload in Asian markets, which are considered too competitive. At the same time, it is continuing to reduce its debt in order to regain room for maneuver in more promising markets.

DB in trouble. Deutsche Bank's management reportedly refused to refer to the US tax authorities suspicious transactions detected in 2016 and 2017 by its dedicated department concerning transactions of companies controlled by Donald Trump and his son-in-law, according to the New York Times. The Trump family had initiated proceedings in April against the German bank for not submitting to a subpoena by the House of Representatives.

Paranoid Android. Google will no longer provide solutions or hardware to Huawei, outside of open source, Reuters learned. This is a particular concern for Android, the software that equips all Chinese terminals: Huawei will only be able to deal with the open source version. The Chinese group is the world's second largest mobile phone group with its Huawei and Honor brands, behind Samsung but ahead of Apple.

Fratelli d'Italia. The Benetton family wants Assicurazioni Generali to remain Italian and to increase his detention. The family holding company Edizione, supported by major names in finance and the transalpine industry (Francesco Gaetano Caltagirone and Leonardo Del Vecchio), could thus strengthen its hold. The names of European players such as Axa regularly circulate as contenders for the insurer from Venice.

Precautionary principle. Exxon Mobil has evacuated its staff from an Iraqi site, which the local government considers "unacceptable and unjustified". Over the weekend, the Major transferred about 60 of her employees working as West Qurna 1 to Dubai, in the south of the country, near Basra, not far from the Iranian border.

The BM without BM. Bayern Munich has decided not to make BMW its future main sponsor, "for lack of a relationship of trust". The club didn't say much more. In 2018, a declaration of intent was signed between the parties, which could have resulted in an amount of 800 million euros over 10 years. BMW would thus have replaced Audi, from which it would have taken over the 8.33% of the capital of the holding company of the Bavarian club.

All for all. T-Mobile US and Sprint are ready to make concessions to win the antitrust decision on their merger in the United States. According to information obtained by Bloomberg, the duo could propose additional transfers and service level agreements in rural areas to the US authorities. Enough to overcome the authorities' negative assumption?

In other news. CBS Corporation reportedly offered $5 million to buy the Starz channel from Lions Gate Entertainment. Sheryl Sandberg, Facebook's number two, is against dismantling the group. Vale's setbacks are boosting iron prices. S&P downgrades Nissan's credit rating outlook from stable to negative. The Chinese coffee chain Luckin is up 20% for its Wall Street debut.
Stocks mentioned in the article
ChangeLast1st jan.
ASSICURAZIONI GENERALI S.P.A. 0.52% 18.195 End-of-day quote.24.62%
BMW FINANCE NV 0.00%End-of-day quote.0.00%
CBS CORPORATION -2.73% 36.75 Delayed Quote.-15.94%
DEUTSCHE BANK AG 2.79% 7.289 Delayed Quote.1.79%
DJ INDUSTRIAL -0.95% 26770.2 Delayed Quote.14.76%
EXXON MOBIL CORPORATION -0.78% 67.61 Delayed Quote.-0.85%
FACEBOOK -2.38% 185.85 Delayed Quote.41.77%
GOLDMAN SACHS GROUP INC. 0.03% 206.52 Delayed Quote.23.63%
GRAND CITY PROPERTIES S.A. -0.67% 20.76 Delayed Quote.9.97%
INTERNATIONAL GAME TECHNOLOGY PLC -2.01% 13.13 Delayed Quote.-10.25%
LAFARGEHOLCIM 2.12% 49.19 Delayed Quote.19.01%
LONDON BRENT OIL -0.41% 58.32 Delayed Quote.9.05%
NASDAQ 100 -0.93% 7868.490778 Delayed Quote.25.47%
NASDAQ COMP. -0.83% 8089.54332 Delayed Quote.22.93%
NORDSON CORPORATION 1.02% 146.77 Delayed Quote.22.97%
RYANAIR HOLDINGS 2.52% 12.205 Delayed Quote.10.65%
S&P 500 -0.39% 2986.2 Delayed Quote.19.12%
T-MOBILE US 0.68% 81.6 Delayed Quote.28.28%
TELECOM ITALIA -0.58% 0.5354 End-of-day quote.10.78%
US DOLLAR INDEX -0.34% 97.28 End-of-day quote.0.62%

Romain Fournier
© MarketScreener.com 2019
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