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OFFON

Romain
Fournier

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GLOBAL MARKETS LIVE: LVMH, Burberry, Facebook, Tesla…

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07/16/2019 | 09:03am EDT

Paul MacCartney's daughter, who had left Kering, threw herself into the arms of LVMH. California stars are making people talk about them today, not necessarily in a good way. Finally, AMS examined a takeover of Osram before abandoning it. Global markets are mixed, but US stock-index futures are edging up.


US MARKETS:

S&P 500 futures up 0.1% to 3,019.75
Brent futures down 0.5% to $66.83/bbl
Gold spot up 0.1% to $1,415.68
US Dollar Index up 0.2% to 97.08

GLOBAL NEWS:

Earnings season. In the United States, among companies reporting their earnings today, we have Johnson & Johnson plus a wide range of banks: JP Morgan Chase, Wells Fargo, Goldman Sachs and Charles Schwab. Elsewhere, Rio Tinto, Telenor, Experian, Yara and Burberry.

From one giant to another. LVMH and Stella McCartney, formerly part of Kering, have agreed to accelerate the development of the brand, in which the designer will retain a majority stake. LVMH has not specified any amount. Stella McCartney also becomes special advisor to Bernard Arnault and the members of the Executive Committee on sustainable development.

Ryanair hurt by Boeing crisis. The budget airline said delays in deliveries of Boeings 737 MAX passenger jet will hamper growth next summer, forcing it to close some of its bases and make cuts at others this winter. Ryanair remains committed to the B737MAX but is reducing its projections for the 2020 summer season by estimating that it will only need 30 of these aircraft in operation compared to 58 scheduled so far.

Blackstone gets Vungle. Blackstone acquired the start-up Vungle for $750 million, as well as CRH's distribution division in Europe for €1.64 billion in cash.

Back in grace. Burberry shines on the stock market after good quarterly figures. Investors are reassured by the welcome given to the creations of the new artistic director, Riccardo Ticci.

California. Facebook has planned to get along with the regulators before launching the Libra, its cryptocurrency (don't miss our video decryption to understand the stakes), and this is quite appropriate given the hostility displayed by the political class in the United States: "the Treasury has very serious concerns about the Libra", Steve Mnuchin revealed yesterday, before adding that the American group will have "much work to do to convince" the administration. Facebook will also be joining Google, Apple and Amazon.com this Tuesday for a hearing at Congress on their competitive practices.

California 2. Tesla reduced the entry-level price of its Model 3 and raised the prices of the Model X and S, as a result of abandoning the standard variant of the two vehicles, in order to rationalize the range. The Model 3 represents about 80% of the group's current sales.

The bidding process was short-lived. Osram, engaged on a EUR 35 offer submitted by Carlyle and Bain Capital, indicated that it had received an informal proposal for EUR 38.50 from AMS, which however withdrew its proposal last night, stating that the preliminary discussions had not provided sufficient basis for further action. The Osram share closed at EUR 33.90 last night.

In other news. A U.S. federal judge reduced Bayer's compensation claims from $80.27 million to $25.27 million in favor of a Californian man who accused Monsanto's glyphosate of causing his cancer. Ferroviere dello Stato, Atlantia and Delta Air Lines have joined forces to take over Alitalia. S&P has raised its outlook for Unicredit's credit rating from "negative" to "stable". Prologis will buy Property Trust for $4 billion. Ikea will close its only American plant because of high labor costs. SGS acquired two small companies in Hong Kong and the United States. Paypal launches a fund transfer offer in Europe.
Stocks mentioned in the article
ChangeLast1st jan.
ATLANTIA SPA 0.26% 22.92 End-of-day quote.26.84%
BAYER 0.00%End-of-day quote.0.00%
BURBERRY GROUP 1.69% 2102 Delayed Quote.21.12%
DELTA AIR LINES INC. 1.63% 58.04 Delayed Quote.14.45%
DJ INDUSTRIAL 1.20% 25886.01 Delayed Quote.10.97%
EXPERIAN 0.72% 2518 Delayed Quote.32.18%
FACEBOOK 0.61% 183.7 Delayed Quote.40.13%
GOLDMAN SACHS GROUP INC 1.65% 199.42 Delayed Quote.19.38%
JP MORGAN CHASE & COMPANY 2.40% 107.72 Delayed Quote.7.76%
LONDON BRENT OIL 0.45% 58.66 Delayed Quote.7.76%
NASDAQ 100 1.59% 7604.108768 Delayed Quote.20.13%
NASDAQ COMP. 1.67% 7895.993811 Delayed Quote.19.00%
OSRAM LICHT 0.72% 35.1 Delayed Quote.-7.44%
PAYPAL HOLDINGS 1.15% 106.16 Delayed Quote.26.25%
PROLOGIS INC 1.45% 82.39 Delayed Quote.40.31%
RIO TINTO PLC -0.52% 4005 Delayed Quote.7.37%
RYANAIR HOLDINGS -2.08% 8.62 Delayed Quote.-19.44%
S&P 500 1.44% 2888.68 Delayed Quote.13.59%
TELENOR 0.47% 183.35 Delayed Quote.9.46%
TESLA 0.00%End-of-day quote.0.00%
THE CHARLES SCHWAB CORPORATION 1.59% 37.14 Delayed Quote.-11.97%
US DOLLAR INDEX 0.00% 98.142 End-of-day quote.1.51%
WELLS FARGO 0.00%End-of-day quote.0.00%
YARA INTERNATIONAL -0.30% 365 Delayed Quote.9.45%

Romain Fournier
© MarketScreener.com 2019
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