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GLOBAL MARKETS LIVE: Tesla, AB InBev, Boeing, Airbus….

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10/03/2019 | 10:17am EDT

Equity markets took a heavy hit yesterday, while investors' optimism gradually reversed as US macroeconomic indicators deteriorated and the political environment on the other side of the Atlantic was explosive. The American decision to surcharge European products on October 18 will affect a wide range of sectors including aeronautics, beverages and more generally agri-food. US equity-index futures head up today, while European stocks remain mixed and Asian shares decline.


S&P 500 futures up 0.4% to 2,893.25

Brent Futures unchanged at $57.69/bbl

Gold spot down 0.03% to $1,498.95

US Dollar Index up 0.05% to 99.07



Missed again. Tesla delivered a record 97,000 vehicles during the third quarter, a total that was slightly below expectations, resulting in a sharp drop in out-of-session sales. The Californian will have to sell at least 105,000 vehicles in the fourth quarter to reach the bottom of its forecast range of 360,000 to 400,000 deliveries over the year. Once again, Tesla shows the approximations in its expectations, which annoys the financial community.

Good news for AB InBev. Anheuser-Busch InBev fully exercises the over-allotment option in connection with the initial public offering of its Asian subsidiary. This should bring in an additional $750 million for the company, which will increase its holding to 87.22%. After the initial SOP was postponed during the summer, this is good news.

Taxes, taxes, and more taxes. From October 18, the United States will apply customs duties on $7.5 billion worth of imports from the European Union each year, following the WTO's implicit green light in the Airbus case: 10% on aircraft and 25% on other industrial and agricultural products (French wine, Italian cheese, Scotch whisky...). Brussels will try to find an amicable settlement but will respond if it fails. The complete list is available on the USTR website.

Sika sees higher. Switzerland has raised its profitability targets for 2023. The operating margin should be between 15 and 18% compared to 14 to 16% in previous expectations. Sika's annual growth is expected to be in the range of 6 to 8%.

Nissan's next CEO is.... Who will lead Nissan? Renault boss Jean-Dominique Senard, who is a member of the Japanese automaker's nomination committee, interviewed some candidates, including three internal contenders, Yasuhiro Yamauchi, Jun Seki and Ashwani Gupta. An external candidate has also been interviewed.

In other news. Delta Air Lines offers 120 M€ for 12% of Alitalia, Atlantia wants to modify the rescue plan. The results of Pepsico and Hennes & Mauritz are reassuring, not those of Ted Baker. Morgan Stanley and Goldman Sachs would be in pole position to take over the listing of Airbnb. E*Trade will abolish commissions on stock market orders for shares, ETFs and options in response to Charles Schwab's initiative. GoPro warns for the second time this year. A Boeing engineer who was part of the 737MAX development team says the manufacturer has put costs ahead of safety. Microsoft will make a new incursion into the smartphone field. Amazon.com launches Alexa in Brazil. Schlumberger and Rockwell Automation terminate the Sensia joint venture. Iamgold stopped part of his activities in Rosebel due to an influx of illegal miners. U-Blox and Kudelski renounce their collaboration.

Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE -5.69% 56.7 Real-time Quote.-56.55%
BOEING COMPANY (THE) -2.65% 145.85 Delayed Quote.-54.01%
DJ INDUSTRIAL -0.07% 25383.11 Delayed Quote.-11.00%
EURO / US DOLLAR (EUR/USD) 0.04% 1.11069 Delayed Quote.-1.21%
MICROSOFT CORPORATION 1.02% 183.25 Delayed Quote.15.03%
NASDAQ 100 1.47% 9555.524843 Delayed Quote.9.42%
NASDAQ COMP. 1.29% 9489.872484 Delayed Quote.5.77%
RENAULT -7.74% 20.205 Real-time Quote.-52.10%
S&P 500 0.48% 3044.31 Delayed Quote.-5.77%
TESLA, INC. 3.62% 835 Delayed Quote.99.60%
THE GOLDMAN SACHS GROUP, INC. -1.74% 196.49 Delayed Quote.-14.54%
THE LEAD CO., INC. -2.37% 412 End-of-day quote.5.64%

Romain Fournier
© MarketScreener.com 2019
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