GLOBAL MARKETS LIVE: Jack Ma reappears, Better-than-expected profits for Morgan Stanley…

01/20/2021 | 10:23am

Business results are rising in Europe and the United States. Headliners are Netflix, Morgan Stanley, Procter & Gamble, UnitedHealth, U.S. Bancorp and United Airlines. Also in the news, the financial transactions of the London Stock Exchange on Refinitiv and IAG on Air Europa. Finally, Jack Ma reappeared at a conference, which boosted Alibaba.

 

Earnings season. Procter & Gamble, Unitedhealth, ASML, Morgan Stanley, Compagnie Financière Richemont, Antofagasta, Burberry, United Airlines and Pearson are among companies posting their results today.

Global markets news:

  • Morgan Stanley saw better-than-expected earnings growth, driven by its equity capital markets and equity advisory businesses. In the fourth quarter, the U.S. bank’s net income was up 57% to $3.27 billion, or $1.81 per share.
  • The London Stock Exchange expects to close the acquisition of Refinitiv for $27bn on January 29.
  • Alibaba rises by over 6% in Hong Kong after the "reappearance" of Jack Ma. The founder of the Internet giant Alibaba had not appeared in public since the end of October. He had then criticized in virulent terms the financial regulation of his country.
  • International Consolidated Airlines confirms the acquisition of Air Europa, but at a broken price (€500m).
  • Netflix exceeds the 200 million paying subscribers worldwide.
  • Ford forced to recall 3 million vehicles in the United States.
  • BHP Group takes a charge of $1.15 to $1.25 billion on its coal in Australia.
  • Stellantis does not intend to cut jobs as part of the group's planned cost-cutting efforts.
  • ASML sees Q1 2021 revenues between €3.9 and €4.1bn, with a consensus at €3.52bn.
  • The Walt Disney Company cuts the bonuses of its executives.
  • Microsoft invests in Cruise, General Motors' autonomous vehicle subsidiary.
  • Walmart and Western Union collaborate in money transfers.
  • eBay examines its options for the future of its business in South Korea.
  • Relief Therapeutics buys German company Advita.
  • Large electric vehicle manufacturer Rivian is valued at $27.6 billion.
Romain Fournier
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