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OFFON

Romain
Fournier

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GLOBAL MARKETS LIVE: Nissan, Huawei, Deutsche Bank, Pfizer…

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06/17/2019 | 09:45am EDT

In the endless soap operas category, Renault / Nissan and Deutsche Bank are once again in the spotlight this morning. In the telecoms sector, Huawei is wondering how his customers will react to the new situation brought about by the American measures targeting him. U.S. stock-index futures and European stocks are up slightly, while Asian equities declined.


US MARKETS:

S&P 500 futures up 0.2% to 2,899.75
Brent futures down 0.3% to $61.83/bbl
Gold spot down 0.6% to $1,333.45
US Dollar Index little changed at 97.53

GLOBAL NEWS:

Love/Hate relationships. Nissan finally plans to give Renault several seats on its governance committees, after the French group’s anger at being kept away. Negotiations are still ongoing, particularly because Renault wants Thierry Bolloré to also sit on a committee, and not just Jean-Dominique Senard. The relationship between the two parties remains extremely complex and unfortunately diverts resources from management functions.

Paris Air Show. Airbus has officially launched its A321XLR, a single-aisle aircraft with a very long range, which occupies a neglected niche. CFM International (Safran / General Electric) has indicated that it has made up for the delay in deliveries of its LEAP engine, notably by taking advantage of the suspension of the B737 MAX. Boeing, in fact, will be looking to restore its image during the show, after the setbacks of its best-seller. In this regard, Reuters has learned that the FAA could start testing the B737 MAX and its new software this week. Airbus and Dassault Aviation presented the concept of a new fighter aircraft.

Crash test. The banning of Huawei by the United States could lead to a 40 to 60% drop in its worldwide sales of smartphones, according to Bloomberg. The Chinese will test the market's reaction with the launch of his Honor 20 on June 21. To let the storm pass, Huawei will seek to boost its sales on his domestic market, where competition is fierce, especially with his compatriots…

Final stretch. The American courts are expected to issue their decision this week on the proposed merger between T-Mobile US and Sprint, according to Reuters, and the New York Times believes that the opinion will be positive. To win the decision, the duo may have made new concessions.

Who's bad? According to the Financial Times, Deutsche Bank is preparing a €50 billion "bad bank", which would mark the beginning of the end of the institution's trading activities. This hive-off structure could be accompanied by a reduction or even closure of its activities in the United States.

Kier radical. In difficulty, the British construction group Kier Group will reorganize. As a direct result, 1200 jobs were lost and a dividend suspended for two years, plus the sale of non-core assets. The plan is expected to save £55 million per year on a full-year basis from 2021 onwards.

Pfizer goes for Array. The pharmaceutical giant will spend $11.4 billion, or USD 48 per share, to buy Array BioPharma. Pfizer is thus strengthened with a partner specialized in oncology.

In other news. Chewy, the specialist in the online sale of animal products, soared by 59% as it started on Wall Street. Lufthansa warned that its results will be below expectations due to disappointing performances in Europe, which is causing the stock and its counterparts to fall. Goldman Sachs has planned to combine four entities dedicated to Private Equity, to increase its strength in the specialty. Nordic Capital takes control of the American company ArisGlobal. AGL Energy abandons its project to acquire the distressed telecommunications group Vocus Group. Aluflexpack sets the price range for its initial public offering at between CHF 20 and 26.
Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE -0.27% 131.1 Real-time Quote.56.62%
ARRAY BIOPHARMA INC 0.00% 46.49 Delayed Quote.226.25%
BOEING COMPANY (THE) 4.50% 377.36 Delayed Quote.17.01%
DEUTSCHE BANK AG 1.55% 7.014 Delayed Quote.-1.06%
DJ INDUSTRIAL -0.25% 27154.2 Delayed Quote.16.40%
GOLDMAN SACHS GROUP INC -0.47% 213.52 Delayed Quote.27.82%
HUAWEI CULTURE CO LTD End-of-day quote.
KIER GROUP PLC 7.88% 84.5273 Delayed Quote.-80.80%
LONDON BRENT OIL 0.00% 63.25 Delayed Quote.17.43%
MOBILE TELECOMMUNICATIONS COMPANY -0.17% 582 End-of-day quote.29.62%
NASDAQ 100 -0.88% 7834.896756 Delayed Quote.24.87%
NASDAQ COMP. -0.74% 8146.488965 Delayed Quote.23.36%
NISSAN MOTOR CO LTD 1.88% 764.6 End-of-day quote.-10.69%
PFIZER -0.67% 42.77 Delayed Quote.-2.02%
RENAULT 0.53% 51.33 Real-time Quote.-6.40%
S&P 500 -0.62% 2976.61 Delayed Quote.18.74%
SPRINT CORP 0.43% 6.95 Delayed Quote.19.42%
US DOLLAR INDEX 0.37% 97.15 End-of-day quote.0.48%

Romain Fournier
© MarketScreener.com 2019
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