GLOBAL MARKETS LIVE: Alibaba, Airbus, The Gap, Disney…

11/08/2019 | 08:53am

There are still many quarterly earnings releases, from Crédit Agricole to Richemont, Honda, Disney and Natixis. Jean-Claude Juncker is confident about customs tariffs on cars. And Gap loses his CEO. U.S. stock-index futures, Asian and European shares retreat.



S&P 500 futures down 0.1% to 3,082.25

Brent futures down 1.3% to $61.49/bbl

Gold spot down 0.1% to $1,466.88

US Dollar Index little changed at 98.21



Alibaba plans $15 billion listing in November. Alibaba announced it will list in Hong Kong in the final week of November, Reuters reports. It is aiming to raise up to $15 billion. This represents a vote of confidence in the Asian financial hub.

IndiGo boosts orders. Airbus received 415 orders and delivered 77 aircraft in October. The aircraft manufacturer benefited from IndiGo's large order. 648 aircraft have been delivered to date. Airbus is targeting 860 deliveries this year, a target modified last week as a result of a reduction in initial ambitions (from 880 to 890).

No merger in sight. Euronext's CEO denied rumors of discussions with another European player for a merger, after information circulated about the Madrid and Milan stock exchanges. "There is no dialogue with the two companies mentioned in the press, nor with any stock exchange in Europe and no offer has been made to any board of directors or shareholder whatsoever," Stéphane Boujnah said, even though his company is constantly analyzing potential targets.

Jean-Claude knows. Jean-Claude Juncker stated in the Süddeutsche Zeitung that he does not believe at all in tariffs on European vehicles imported into the United States. "There will be no customs duties on cars. He (Trump) won't do it... You are talking to a fully informed man," said the outgoing President of the European Commission. If he says so!

Bearish gap. The Gap Inc share is expected to have a very bad session in New York, after the announcement of the departure of its CEO Art Peck, without specifying the reasons for this decision. The share price dropped by nearly 6% after the closing. Peck "will leave the company after a brief transition," says the company. The interim will be provided by President Bob Fisher, who praised the work of the CEO, who has spent nearly 15 years in the company.

A flurry of results. Walt Disney's earnings are down, but exceeded analysts' expectations, allowing the stock to perform well after the Wall Street close. News Corp in losses after a major asset depreciation. Activision Blizzard is declining after its quarterly results. Leonardo exceeded expectations. La Compagnie Financière Richemont published under AWP's expectations, particularly because of Hong Kong. Honda Motor misses the consensus and lowers its forecasts. Allianz reports a slightly higher than expected profit but suffers on the stock market. International Consolidated Airlines Group backs down after warning.

In other news. DuPont would consider divesting itself of its transport division, according to Bloomberg. The Compagnie Nationale à Portefeuille de la Famille Frère will acquire CLS, operator of the Argos network. Lion Air has found cracks on Boeing 737NGs with fewer flight hours than reported in the FAA directive. Dufry is finalizing the acquisition of Regstaer Vnukovo.

Romain Fournier
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