GLOBAL MARKETS LIVE: Nasdaq vs Euronext, UBS, Wirecard, Loews…
02/11/2019 | 09:58am EDT
Several financial operations to start the week, presumed or proven: Technicolor, Smith & Nephew, EssilorLuxottica, Just Eat... Wirecard's CEO gets angry, Total's CEO takes a stand in the tax debate. US stock index futures follow gains in European shares as Asian markets are mixed.
-S&P 500 futures up 0.4% at 2,716.25
-Brent futures up 0.2% at $62.21/bbl
-Gold spot down 0.5% at $1,307.68
-US Dollar Index up 0.2% at 96.78
Earnings season. Michelin, Galp Energia, Carl Zeiss and Recordati are today unveiling their accounts in Europe. In the United States, TD Ameritrade, Aurora Cannabis, Loews and FMC Corp are scheduled.
Euronext outbids. The group is now proposing NOK 158 per share to buy Oslo Bors, an overbid on the Nasdaq proposal, which was written at NOK 152 and which already constituted a counter-bid to the NOK 145 bid initially submitted by Euronext. The battle continues....
Pralent in sales. Sanofi and Regeneron have lowered the price of cholesterol treatment in the United States by 60% to USD 5850 per year.
Total for a floating tax. Patrick Pouyanné (Total) is in favor of the return of a floating tax on petroleum products. At the same time, Israel criticized the major after its CEO found it difficult to invest in the country. Pouyanné also asked for time to implement the energy transition.
Ultra-long range. Qantas will choose between Airbus and Boeings long-haul versions of their A350 and B787 for a direct London-Sydney route, and other very long flights. Both manufacturers are expected to submit bids in the coming months.
New transfer in sight. Technicolor has started exclusive negotiations with InterDigital, which wants to buy out the research & innovation division. The transaction would reduce Ebitda costs by 21 million per year in 2020 and includes a component that reduces cash flow from patent activities already sold to the US.
External growth. Smith & Nephew discusses the purchase of American NuVasive for more than $3 billion, according to the Financial Times. The target is specialized in spinal column care devices.
UBS caught up by the patrol? The bank is cited in an impaired credit case in Papua New Guinea, according to SRF, for a loan not validated by parliament that would have allowed the government to buy back shares of Oil Search. In addition, UBS has modified the individual bonus system within its corporate center.
The counterattack. Wirecard's CEO reiterates that the internal investigation found no evidence of wrongdoing after the rumors that caused the stock to go public. When questioned by Bloomberg, the manager believes that this case was set up to harm the company. He promised that the final report commissioned on this case will be made public in the coming weeks.
In other news. Venezuela's national company PDVSA is asking its customers to deposit the proceeds of the sale of oil into an account opened at Russian Gazprombank, Reuters learned. A Just Eat shareholder calls on management to find a merger partner.