GLOBAL MARKETS LIVE: Tesla on top of the world

07/02/2020 | 09:42am

A historic day for the car manufacturer Tesla, which has become the most capitalized company in its sector on the stock exchange, ahead of the Japanese giant Toyota, which produces 20 times more cars than the Californian company.

 

Number one. Tesla has become the largest car manufacturer on the stock exchange, ahead of Toyota (which produces 20 times more cars), with a capitalization of 207.2 billion dollars. The Californian company's share thus closed yesterday up 3.69% at $1119, an absolute record.

Max is back. The U.S. Federal Aviation Administration (FAA) announced Wednesday that it and Boeing have completed certification flights of the 737 MAX, a major step toward returning the aircraft to service, which has been grounded since March 2019 following two accidents that killed 346 people in five months.

Low-cost is on the rise. Online broker Degiro, bought by Flatex, announces this Wednesday that it has seen an influx of new clients during the first half of 2020, with a total of 217,548 new accounts during the first six months of the year, which represents an increase of around 265% compared to 2019.

Store closed. McDonald's is suspending the reopening of its restaurants in the United States while cases of coronavirus continue to spread in some states, just as Apple is closing more stores in several states (Southern California, Alabama, Georgia, Louisiana, Texas...).

The United Kingdom aspires to more competition in online advertising. Google and Facebook are in the sights of the British competition watchdog, who is proposing measures to limit the dominance of the American giants in the country's online advertising market. According to the CMA (Competition and Markets Authority), spending on internet advertising will reach £14 billion in 2019, 80% of which will be captured by Google and Facebook, an observation that sounds the alarm and paves the way for more regulation.

In other news. Monte dei Paschi sells a portfolio of real estate assets to Ardian, a French private equity fund. Novartis subsidiary Sandoz plans to take its Erelzi biosimilar treatment patent dispute to the US Supreme Court. UK oil and gas group BP completes sale of Alaska upstream business to Hilcorp Energy. Bell Food Group sells production sites in Hungary and France. Healthcare investment manager HBM Healthcare Investments expects to triple its quarterly profit (to CHF 226 million). SoftBank is seeking to terminate its partnership with Wirecard. Twitter removes from its platform a photo published by Donald Trump after a copyright complaint by the New York Times. The US corporate data provider Dun & Bradstreet's stock is taking off for its first listing on the New York Stock Exchange.

Romain Fournier
© MarketScreener.com 2020
Copier lien
Latest news about ""
6h ago
1d ago
1d ago
2d ago
2d ago