US MARKETS:

S&P 500 futures up 0.5% to 2,932.00
Brent Futures down 0.8% to $65.93/bbl
Gold spot down 0.4% to $1,403.77
US Dollar Index up 0.03% to 96.24

GLOBAL NEWS:

Japan Display gets big boost from Apple. Apple will invest $100 million in Japan Display. The Cupertino manufacturer will sign a cheque for $100 million to the screen supplier, according to Asahi. This news has led to a substantial rebound in Japan Display's share price (+32% on the Tokyo Stock Exchange). The company was born in 2012 from the combination of Hitachi, Toshiba and Sony's LCD activities.

Carl Icahn angry over Anadarko deal. The billionaire investor is seeking to replace four directors of Occidental Petroleum, considering that the company is mistaken in buying Anadarko. He called for a special shareholder meeting where he hopes to win board seats.

That's said. French President Emmanuel Macron said yesterday that the government does not need to reduce its stake in Renault, while hoping that the alliance with Nissan will be strengthened through new synergies. The Head of State takes a more radical position than his Minister of Economy, Bruno Le Maire, by sending a message to the Nissan leaders, who were calling for a rebalancing of the alliance. For Emmanuel Macron, strengthening ties is a prerequisite for any further action.

The question of trust. H2O, the Natixis-affiliated fund, continued to suffer from an outflow, albeit slower. The bank is working to put out the fire that started last week by making commitments to the financial community to increase supervision. It quickly organized meetings with the main analysts in charge of the sector to reassure them. The stock market hemorrhage is under control. There is still a need to restore some confidence in an industry that is essentially based on this. H2O's outstanding amounts have risen from €31.3 billion at the end of March to €27 billion at the moment. Morningstar has taken over the monitoring of the Allegro fund from "neutral" to "bronze" previously.

New delay for the B737 MAX. The United States Civil Aviation Authority (FAA) has identified a simulator-based potential new malfunction on Boeing's B737 MAX that will need to be addressed before the aircraft returns to service. "The FAA pilots had difficulty quickly regaining control of the aircraft after activating the MCAS stall protection system," said the AFP, who released the information. This flaw is likely to delay the resumption of flight tests.

Traton is coming. Volkswagen reduced the IPO price of its truck subsidiary Traton from EUR 27 to EUR 28, the lower end of the initial range of EUR 27 to 33. The order book keeper specified that the entire offer was accepted in the new range. At EUR 28, the subsidiary would be valued at EUR 14 billion.

Bayer is seeking advice. Bayer AG's supervisory board will create a committee to settle glyphosate disputes with the help of an external lawyer, an initiative welcomed by the activist fund Elliott, which has revealed that it holds more than €1 billion in German shares.

In other news. The European Commission is reportedly about to approve Vodafone's proposed acquisition of Liberty Global's European assets for $22 billion, according to Reuters. Dormakaba buys the American Alvarado. Swiss Re sets the price of the shares of its subsidiary ReAssure at between GBp 280 and 330 as part of its IPO in London. Baloise takes a share in the start-up company Brainalyzed. Softbank launches an alliance in the autonomous vehicle with Mazda, Suzuki, Subaru, Isuzu and Daihatsu. Thierry Garnier, former boss of Carrefour in China, appointed Managing Director of Kingfisher. Superdry is postponing the publication of its results. Pendragon's new CEO resigns three months after his arrival.