Rio Tinto plc
64.24 - 65.05
49.31 - 77.98
Join Discuss about RIO with like-minded investors
Buongiorno TZ 🙂 Apecchio PU corre veloce e sonora l'acqua di Rio Vitoschio.
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Some noticeable relative str, in commodities plays RIO etc
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RIO EWZ VALE rel.
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wth is Najarian saying about RIO?
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Rio de Janeiro to Allow Real Estate Tax Payments With Crypto as of 2023, Mayor Says https://www.coindesk.com/policy/2022/03/28/rio-de-janeiro-to-allow-real-estate-tax-payments-with-crypto-as-of-2023-mayor-says/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
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Coinbase Reportedly Nears Mercado Bitcoin Purchase as Binance Readies Rio Expansion https://cryptonews.com/news/coinbase-reportedly-nears-mercado-bitcoin-buy-as-binance-readies-rio-expansion.htm
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Rio de Janeiro to accept Bitcoin for real estate taxes from 2023 https://cointelegraph.com/news/rio-de-janeiro-to-accept-bitcoin-for-real-estate-taxes-from-2023
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By Eileen Soreng and Praveen Menon (Reuters) - Russia might look to its giant neighbour to replace Australian alumina supplies cut off by sanctions, but Chinese aluminium smelters need all the feedstock they can get and may be worried about secondary sanctions from the West, industry analysts say. Australia on Sunday imposed an immediate ban on exports to Russia of alumina and aluminium ores, including bauxite, in response to Moscow's invasion of Ukraine. The move squeezes Russian aluminium giant Rusal, the world's No.2 producer outside China. It gets about 19% of its alumina from Australia's Queensland Aluminium (QAL), in which it holds a 20% stake. Graphic: Australia's ban on alumina exports to Russia tightens the raw materials screw on Rusal: https://fingfx.thomsonreuters.com/gfx/ While there is no concrete evidence that Russia is seeking Chinese alumina supplies, analysts say close ties, proximity and the size of the Chinese market make it a logical option. China, the top global aluminium producer, is likely to step in and absorb Australian alumina exports that had previously headed to Russia and could then potentially on-sell supplies, said Wood Mackenzie senior manager Uday Patel. "Chinese firms could buy alumina from QAL and then sell back to Rusal," Patel told Reuters. "(China) could also sell some of its domestic production, but note that alumina demand in China is also increasing this year as Chinese smelters lift output after all the power constraint issues in 2021." QAL and Anglo-Australian mining giant Rio Tinto (NYSE:RIO), which owns 80%, did not respond to requests for comment about what would happen to the alumina exports meant for Russia and if they were receiving requests from Chinese companies. Rusal could not be reached for comment but said previously it was evaluating the effects of the Australian move. ANZ analyst Soni Kumari agreed China's domestic demand would constrain what it can do for Russia. "Russia could turn to China, but the country does not have enough export surplus given their requirement to feed domestic smelters," she said. "Further, Chinese exporters would be cautious too due to fear of secondary sanctions." Washington has warned China against taking advantage of business opportunities created by sanctions and helping Moscow evade export controls or process its banned financial transactions. Kazakhstan could step up to help offset Russian shortages, Kumari said, while other suppliers could include Brazil, Jamaica and Guinea. 'PARIAH STATE' China has refused to condemn Russia's action in Ukraine or call it an invasion. Beijing has also opposed economic sanctions on Russia, which it says are unilateral and are not authorised by the U.N. Security Council. "Russia is its key ally but at the same time China doesn't want the stigma of being seen as a pariah state for helping Russia," said Patel. He said there was talk in the market of some tonnages of alumina booked to be shipped from China to Russia via eastern Russian ports. Reuters could not independently verify any additional alumina shipments or planned shipments to Russia from China. China exported 7,967 tonnes of alumina in the first two months of this year of which 698.6 tonnes went to Russia, according to Chinese customs data. Last year, its alumina exports were at 119,891 tonnes, with 1,822 tonnes going to Russia. The loss of Australian supplies is not the only issue for Rusal, which supplies about 6% of global aluminium. Among Rusal's other major alumina suppliers, the Nikolaev refinery in Ukraine with a capacity of 1.75 million tonnes a year, is out of commission because of the conflict. There are also supply chain issues at Rusal's 2 million tonnes a year Aughinish alumina refinery in Ireland, WoodMac said. European nations and the United States have imposed heavy sanctions on Russia since Moscow sent troops into Ukraine on Feb 24 in what it calls a "special military operation". The sanctions and ongoing conflict, along with supply constraints caused by the pandemic, have pressured commodities markets and triggered record price hikes. [MET/L] Aluminium is a key metal due to its use across sectors from auto, aerospace, packaging, machinery and construction sectors to production of military equipment and ammunition. " onerror="this.style.display='none'" class="msg-img" />
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time take some RIO off
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snagged chunky divi in RIO
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Rio Official Explains Why City Is Putting 1% of Its Treasury Reserves Into Crypto https://www.coindesk.com/policy/2022/01/27/rio-official-explains-why-city-is-putting-1-of-its-treasury-reserves-into-crypto/
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Rio ist ja mehr ein Mischkonzern
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oh, Rio tinto ist gefährlich, denen wurde ja jetzt ein großes Projekt verboten
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hast du bei rohstoffen was bestimmtes im auge ich hab rio tinto die sind aber gut heiß gelaufen im moment
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that RIO play I shouted out now good for 200%
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Rio De Janeiro Is Giving People a 10% Discount to Pay Taxes in Bitcoin https://www.coindesk.com/podcasts/the-breakdown-with-nlw/rio-de-janeiro-is-giving-people-a-10-discount-to-pay-taxes-in-bitcoin/
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Rio De Janeiro to Allocate 1% of Treasury Reserves to Bitcoin: Report https://www.coindesk.com/business/2022/01/14/rio-de-janeiro-to-allocate-1-of-treasury-reserves-to-bitcoin-report/
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but this Rio though
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or Rio de Janeiro
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UK Market Finishing in the green yesterday, amid gains in mining sector stocks and positive earnings outlook. Ferguson climbed 5.9%, after the company lifted its annual outlook. Rio Tinto advanced 4.8%, after a top broker upgraded its rating on the stock to ‘Hold’ from ‘Sell’. Ashtead Group added 3.9%, after the company raised its full year profit forecast and increased its dividend payout. PageGroup edged up 3.8%, as the company increased its profit targets for the third time in six months. British American Tobacco rose 1.0%, after the company reiterated its annual profit and sales guidance. On the other hand, AstraZeneca dropped 1.7%, after a top broker downgraded its rating on the stock to ‘Hold’ from ‘Buy’. Babcock International Group fell 1.0%, even though the company reported a rise in its interim profits. The FTSE 100 advanced 1.5%, to close at 7,339.9, while the FTSE 250 rose 1.6%, to end at 23,238.2. European Market We’re higher yesterday, amid easing worries about the impact of the Omicron variant on global economic recovery. Nordex climbed 6.0%, after the company received a 47MW turbine order for a wind project in Sweden from WPD. WorldLine advanced 2.3%, following news that Eurobank agreed to sell 80% of its merchant acquiring business to the payments firm. Symrise added 1.7%, after the supplier of fragrances, flavors, food, nutrition and cosmetic ingredients announced that it has signed a deal for purchasing Giraffe Foods Inc. based in Mississauga, Ontario, Canada. ABB rose 1.3%, after the engineering company raised its sales and profitability targets, citing higher demand. The FTSEurofirst 300 index gained 2.4%, to settle at 1,862.3. The German DAX Xetra rose 2.8%, to settle at 15,813.9, while the French CAC-40 added 2.9%, to close at 7,065.4. US Market Also closed higher yesterday, amid gains in technology sector stocks and as concerns over the Omicron variant eased. Acadia Pharmaceuticals jumped 9.9%, after the company announced positive results in a late-stage trial of its experimental drug for Rett Syndrome. Mimecast climbed 5.9%, after the cybersecurity company agreed to be acquired by Permira for a consideration of around $5.8 billion. Jack In The Box advanced 5.8%, after a top broker upgraded its rating on the stock to ‘Buy’ from ‘Hold’. GlaxoSmithKline rose 1.5%, after the company indicated that preclinical studies showed its antibody therapy for Covid-19, sotrovimab, developed in partnership with Vir Biotechnology is effective against the Omicron variant. American Airlines Group slid 0.2%, after the company’s Chief Executive Officer, Doug Parker, announced his resignation with effect from 31 March but would remain as Chairman. The S&P 500 gained 2.1%, to settle at 4,686.8. The DJIA rose 1.4%, to settle at 35,719.4, while the NASDAQ added 3%, to close at 15,686.9. Asian Markets We’re trading mostly higher this morning. In Japan, Nitto Denko and Nintendo have advanced 3.4% and 3.5%, respectively. Meanwhile, Taiheiyo Cement and Fujikura have fallen 1.7% and 1.9%, respectively. In Hong Kong, Hang Seng Bank and Alibaba Health Information Technology have dropped 1.0% and 1.5%, respectively. Meanwhile, Shenzhou International Group Holdings and Longfor Group Holdings have added 1.4% and 1.7%, respectively. In South Korea, Dongwon Systems and Dae Young Packaging climbed 7.0% and 8.3%, respectively. Meanwhile, SC Engineering and ISU Chemical have declined 3.6% and 3.7%, respectively. The Nikkei 225 index is trading 1.4% higher at 28,866.4. The Hang Seng index is trading 0.1% down at 23,954.9, while the Kospi index is trading 0.9% higher at 3,018.6.
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UK Market Lower yesterday, as the British Pound strengthened, following upbeat UK jobs data. Genuit Group dropped 5.8%, after the plastic pip maker forecasted that its operating margins would be lower in the second half of the year due to inflationary pressures. Premier Foods fell 4.4%, after the food manufacturer reported a drop in its pretax profit in the first half of 2022. Rio Tinto slid 1.3%, after the company announced an investment in a European battery technology and manufacturing company, Inobat Auto. On the other hand, Vodafone Group advanced 4.8%, as the company raised its earnings and cash flow outlook, after reporting an upbeat performance in the first half of the year. Diageo rose 1.2%, after the beverage company forecasted its organic operating profits to grow for 2023 to 2025. The FTSE 100 slipped 0.3%, to close at 7,327.0, while the FTSE 250 fell 0.4%, to end at 23,539.7. . Europe Market Closed higher yesterday, amid strong corporate earnings report. Prosus advanced 4.2%, after the company issued an upbeat profit forecast for the first half of 2022. Nordex rose 4.1%, after the company won a contract from Enerjisa Uretim to supply and install twelve N163/5.X turbines for the 68.4 MW Erciyes wind farm. Capgemini edged up 0.1%, after the company announced that it has acquired Empired Limited (EPD) for a consideration of about A$233 million. On the flipside, Danone fell 1.8%, after the company announced that it would sell its Water and Beverage business, Aqua d'Or in Denmark. Bouygues shed 1.3%, even though the company reiterated its annual outlook, after reporting an increase in its nine-month net profit. The FTSEurofirst 300 index gained 0.2%, to close at 1,893.4. Among other European markets, the German DAX Xetra 30 rose 0.6%, to close at 16,247.9, while the French CAC-40 advanced 0.3%, to settle at 7,152.6. . US Market Also closed higher yesterday, following stronger than expected US retail sales. Peloton Interactive jumped 15.5%, after the home fitness company announced that it launched a public offering worth $1.0 billion of common stock. Autoliv climbed 6.1%, after the company issued an upbeat outlook and announced a share repurchase program of up to $1.5 billion over the next three years. Home Depot advanced 5.7%, after the retailer reported higher than expected revenue and earnings in the third quarter. On the other hand, Robinhood Markets dropped 3.1%, after a top broker downgraded its rating on the stock to ‘Neutral’ from ‘Buy’. Walmart fell 2.6%, even though the retail giant lifted its annual guidance and reported stronger than expected third quarter revenue and earnings. The S&P 500 gained 0.4%, to settle at 4,700.9. The DJIA rose 0.2%, to settle at 36,142.2, while the NASDAQ advanced 0.8%, to close at 15,973.9. . Asia Market Are trading lower this morning, following dismal Japanese exports data. In Japan, Nikon and Hino Motors have dropped 2.6% and 4.4%, respectively. Meanwhile, CyberAgent and Sumco have advanced 2.6% and 3.5%, respectively. In Hong Kong, WH Group and Sands China have fallen 1.5% and 1.8%, respectively. Meanwhile, PetroChina and AAC Technologies Holdings have risen 0.8% and 1.2%, respectively. In South Korea, KISWIRE and Century have declined 6.7% and 14.0%, respectively. Meanwhile, Doosan and Dreamtech have climbed 5.8% and 7.3%, respectively. The Nikkei 225 index is trading 0.4% lower at 29,697.1. The Hang Seng index is trading 0.5% down at 25,595.2, while the Kospi index is trading 1.0% lower at 2,967.2.
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UK Market Finished mixed yesterday, as losses in mining stocks were offset by gains in consumer staple stocks. Trustpilot declined 12.8%, after its shareholders sold around 41 million shares at 345.0p. Hammerson dropped 4.1%, even though the company reported an improvement in its fourth quarter rent collection. Rio Tinto fell 3.3%. The miner raised its capital spending plans for next year and announced a $7.5 billion plan to reduce carbon emissions by 50% by 2030. Crest Nicholson Holdings slid 0.1%. The housebuilder raised its growth targets. On the other hand, Deliveroo advanced 3.8%, after the company raised its annual growth forecast. Shaftesbury rose 1.3%, after the property group announced that its footfall and occupancy levels were improving. The FTSE 100 advanced 0.1%, to close at 7,223.1, while the FTSE 250 fell 0.4%, to end at 22,966.7. . Europe Market Closed higher yesterday, amid continued optimism around upbeat corporate earnings results. Nestle advanced 2.7%, after the company reported an increase in its sales for the first nine months of the year and raised its annual guidance for organic sales growth. On the other hand, ASML Holding declined 3.8%, after the chip equipment maker’s third quarter revenue came in below analysts’ expectations. Bachem Holding dropped 2.7%, after the company announced a capital raise of CHF584 million through the placement of 750,000 new shares. Akzo Nobel fell 1.3%, after the paints and coatings maker reported a drop in its third quarter profit. Kering slid 0.6%, amid slower sales growth at its biggest brand, Gucci. The FTSEurofirst 300 index gained 0.3%, to settle at 1,821.2. Among other European markets, the German DAX Xetra slightly rose to settle at 15,522.9, while the French CAC-40 added 0.5%, to close at 6,705.6. . US Market Also closed higher yesterday, amid strong US corporate earnings reports Pinterest rallied 12.8%, following reports that PayPal is in talks to acquire the company. Anthem climbed 7.7%, after the company reported higher than expected revenue and earnings in the third quarter. Ford Motor advanced 4.0%, after a top broker upgraded its rating on the stock to ‘Outperform’ from ‘Neutral’. Abbott Laboratories climbed 3.3%, after the company raised its full-year profit forecast. Bank of New York Mellon added 2.9%, as the company’s third quarter revenue and earnings came in above analysts’ forecast. On the flipside, Novavax plunged 14.8%, after the drugmaker announced that it is facing challenges to meet regulators’ quality standards for its Covid vaccine. The S&P 500 gained 0.4%, to settle at 4,536.2. The DJIA rose 0.4%, to settle at 35,609.3, while the NASDAQ marginally fell to close at 15,121.7. Asia Market Markets in Asia are trading mostly higher this morning. In Japan, Kyowa Kirin and Shiseido have dropped 2.5% and 2.6%, respectively. Meanwhile, Showa Denko and Tosoh have added 1.1% and 1.3%, respectively. In Hong Kong, CNOOC and CK Infrastructure Holdings have advanced 1.2% and 2.1%, respectively. Meanwhile, Hong Kong Exchanges & Clearing and Budweiser Brewing have dropped 1.6% and 2.2%, respectively. In South Korea, Hyundai Doosan Infracore and E Investment & Development have climbed 7.0% and 7.9%, respectively. Meanwhile, Hannong Chemicals and Solus Advanced Materials have declined 6.7% and 7.5%, respectively. The Nikkei 225 index is trading 0.3% lower at 29,161.7. The Hang Seng index is trading 0.1% up at 26,167.9, while the Kospi index is trading 0.2% higher at 3,019.6.
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not a bad bet there if RIO can hold these levels on this little gap down
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Rio Tinto ist einfach eine Geile Dividendenrakete. Da kann man jetzt nach meiner Meinung auch nachlegen. Aber ist es ein konjunkturelles Unternehmen, das in schwachen Phasen auch Probleme haben kann. Dennoch auf langfristiger Sicht: kein Problem
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Rio Tinto ist SUPER! Danke für die Idee. Sehr gute Idee
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Hallo Reiner, was hältst du von Rio Tinto?
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By Tom Westbrook and Anushka Trivedi SINGAPORE (Reuters) - Asian stocks struggled to shake off contagion fears on Tuesday and selling pressure persisted amid concern that troubles at indebted developer China Evergrande could ripple across the world economy, markets and financial system. Hong Kong's Hang Seng hit a fresh 11-month low and was down 0.3% by midsession, with a early gains in banks and property stocks paring a little. Japan's Nikkei returned from a market holiday with a drop of almost 2%. (T) Currency, commodity and bond markets steadied, but overall demand for riskier assets remained low especially as the Federal Reserve is expected to step closer to tapering on Wednesday. European futures rose 0.5% in the Asia session. FTSE futures advanced 0.7% and S&P 500 futures climbed 0.6% a day after selling hit banks on both sides of the Atlantic and tipped the S&P 500 to its steepest fall in two months. "For markets to bounce we need to see concrete actions from the authorities to stem any wide spread contagion," said Dave Wang, a portfolio manager at Nuvest Capital in Singapore. Though China is on holiday, and mainland markets closed, there was little evidence of that yet, with no mention of Evergrande's troubles in major Chinese state media. Evergrande, struggling for cash, owes $305 billion and investors are on edge at the risk a messy failure reverberates through China's property sector and everything exposed to it - primarily banks and then the broader economy. China's yuan steadied in offshore trade to recoup some of the losses that sent it to a three-week low on Monday. Evergrande shares fell 4% as focus there shifts to Thursday when the company is due to make bond interest payments. Australia's stock market was also barely better than flat as iron ore miners BHP and Rio Tinto (NYSE:RIO) scraped from nine-month troughs plumbed on Monday. Copper hovered near a one-month low on demand fears. [MET/L] "There is market caution," said George Boubouras, head of research, at K2 Asset Management in Melbourne. "However the profit and earnings cycle is far from a bear market," he said. "Evergrande is a sentiment issue, no doubt. But no Lehman event ... it will be addressed, bailed out or restructured if it becomes a notable mainland China problem." FED WATCH The next few days present yet more tests, with the Federal Reserve concluding a two-day meeting on Wednesday and likely to offer some guidance on the tapering outlook and with Evergrande due to meet its bond interest payments on Thursday. In the currency market, traders took solace from the relative calm in Hong Kong after Monday's plunge. The euro traded at $1.1730, after having touched a near-one-month low of $1.1700 while the safe-haven yen slipped to 109.57 yen to the dollar. The 10-year U.S. Treasury yield crept up to 1.3277%, with moves capped as markets have an eye to the Fed. Investors are looking for the tapering timeline on its bond purchases as well as its board members' long-term rates and economic projections. "I think the Fed will calm things down and I guess defer their tapering decision till November, said Jarrod Kerr, chief economist at Kiwibank. This week will also see policy decisions from many other central banks spanning Brazil, Britain, Hungary, Indonesia, Japan, Norway, the Philippines, South Africa, Sweden, Switzerland, Taiwan and Turkey. Oil prices also rebounded a tad in Asia after falling the previous day. U.S. crude futures traded at $70.98 per barrel. [O/R] Wobbling cryptocurrencies also found a floor, with bitcoin bouncing from a 1 1/2-month low of $40,193 to trade just shy of $43,000. (Additional reporting and writing by Tom Westbrook; Editing by Shri Navaratnam and Ana Nicolaci da Costa)
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@everyone Monday, September 20, 2021 Futures Up/Down % Last Dow -529.00 1.54% 33,933 S&P 500 -56.75 1.28% 4,365 Nasdaq -154.00 1.00% 15,172 U.S. indices are trading down over 1% in pre-market trading and touching their lowest levels in almost 2 months this morning as large Chinese real estate developer Evergrande’s debt crisis is weighing on Asian markets and several macroeconomic factors are making investors wary. The Federal Reserve’s two-day September meeting begins tomorrow where they may lay out plans to begin tapering bond purchases and its quarterly dot plot will provide a forecast on when the central bankers expect to hike interest rates from their current levels of 0-0.25%. Additionally, the federal government is currently facing the threat of running out of money October 1 unless Congress raises the debt ceiling, and Treasury Secretary Janet Yellen wrote an op-ed in the Wall Street Journal over the weekend imploring Congress to raise it as the Treasury will exhaust its cash reserves and borrowing capacity sometime next month if no action is taken. Today’s move lower comes after the S&P closed below its 50-day moving average for the 1st time since June 18th on Friday with materials and technology companies struggling. Late Friday, an FDA panel decided not to recommend a booster for the Pfizer vaccine for people 16 years and older by a vote of 16-3 saying there was not enough data to determine the step-up effectiveness of the third shot. However, the panel unanimously approved a narrower vote of authorizing booster dose of Pfizer/BioNTech covid-19 vaccine at least 6 months after full vaccination for people 65 and older and those at high risk for severe disease (a narrower approval than markets were hoping for). The University of Michigan’s preliminary sentiment index edged up in August, but buying conditions for household durables, homes and motor vehicles all fell to the lowest in decades due to complaints about high prices. The dollar rose while precious metals mostly fell, as gold posted a second straight weekly drop ahead of the FOMC meeting later this week. A potential hike in corporate taxes could eat into earnings also weigh on markets, with leading Democrats seeking to raise the top tax rate on corporations to 26.5% from the current 21%. In Asian markets, the Hang Seng Index is plunging 821 points while Tokyo and Shanghai markets are closed for holiday. In Europe, the German DAX is down 367 points and the FTSE 100 is lower by 118 points. Market Closing Prices Yesterday The S&P 500 Index dropped -40.76 points, or 0.91%, to 4,432.99 The Dow Jones Industrial Average fell -166.44 points, or 0.48%, to 34,584.88 The Nasdaq Composite sunk -137.96 points, or 0.91%, to 15,043.97 The Russell 2000 Index advanced 3.96 points, or 0.18% to 2,236.87 Events Calendar for Today 10:00 AM ET NAHB Housing Market Index for Sept Earnings Calendar: Earnings Before the Open: none Earnings After the Close: $LEN Other Key Events: European Society for Medical Oncology (ESMO) 2021 Virtual Congress, 9/16-9/21 Oppenheimer Fall Healthcare Life Sciences & MedTech Summit (virtual), 9/20-9/23 Roth Capital 8th Annual Solar Symposium (virtual), 9/20-9/23 Stephen’s 11th Annual Bank Forum, in Little Rock, AR, 9/20-9/22 Macro Up/Down Last Nymex -1.49 70.33 Brent -1.29 74.05 Gold 8.10 1,759.50 EUR/USD -0.0012 1.1713 JPY/USD -0.42 109.53 10-Year Note -0.039 1.331% World News Chinese real estate developer Evergrande is facing a default on $150M in bond payments this week and officials have refused to commit any rescue cash to the country’s 2nd largest developer who currently has more than $310B in debt. Sector News Breakdown Consumer Barron’s noted the sell-off in Wynn Resorts ($WYNN) and Las Vegas Sands ($LVS) the past couple of days amid jitters that the Macau government will impose more onerous concession, or licensing, agreements when they expire next year could be setting up a buying opportunity for investors who are patient and have a bankroll to withstand the unlucky streak S. auto safety investigators have opened a new probe into 30 million vehicles built by nearly two dozen automakers with potentially defective Takata air bag inflators – Reuters Three investigators with the National Transportation Safety Board are traveling next week to Coral Gables, Florida to investigate a fatal accident in which a Tesla ($TSLA) Model 3 left the roadway and collided with a tree. NTSB officials say the investigation will focus on the operation of the vehicle and the post-crash fire that consumed the car Energy, Industrials and Materials Boeing ($BA) has been awarded a $1.62B indefinite-delivery/indefinite-quantity contract for missile guidance repair. BHP Group ($BHP), Rio Tinto ($RIO), Anglo American ($NGLOY), Glencore ($GLNCY), and Vale ($VALE) are in the best shape ever, Barron’s reported for mining companies. Their shares, however, trade cheaply amid worries that the good times in industrial commodities are ending. For investors willing to accept some risk, the Big Five miners offer a rich opportunity Financials A senior U.S. trade official privately criticized India’s July decision to ban Mastercard Inc ($MA) from issuing new cards, calling it a “draconian” move that caused “panic”, according to U.S. government emails seen by Reuters. Healthcare Astellas Pharma ($ALPMY) and Pfizer ($PFE) announced ahead of the European Society for Medical Oncology Congress 2021 that XTANDI improved overall survival in the ARCHES study in men with metastatic hormone-sensitive prostate cancer. Exelixis ($EXEL) announced that the U.S. FDA approved CABOMETYX for the treatment of adult and pediatric patients 12 years of age and older with locally advanced or metastatic differentiated thyroid cancer that has progressed following prior vascular endothelial growth factor receptor-targeted therapy and who are radioactive iodine-refractory or ineligible White House medical adviser Anthony Fauci said on Sunday that data needed to determine the advisability of booster shots of the Moderna Inc (MRNA) and Johnson & Johnson ($JNJ) COVID-19 vaccines is just weeks away Quidel ($QDEL) has been awarded a maximum $710.57M indefinite-delivery/indefinite-quantity contract for over-the-counter antigen test kits AstraZeneca ($AZN) reported updated Phase 3 trial results for Imfinzi that showed the drug combined with chemotherapy tripled patient survival at 3-year in extensive-stage small cell lung cancer Technology, Media & Telecom Brooks Automation ($BRKS) agreed to sell its semiconductor solutions group business to Thomas H. Lee Partners for $3B in cash and will no longer pursue a separation into 2 independent and publicly traded companies
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UK Markets Finished higher yesterday, helped by gains in travel and mining sector stocks. Marks & Spencer Group advanced 4.2%, after a top broker raised its target price on the stock to 200p from 195p per share. Rio Tinto added 3.0%, after the miner announced that it resumed its operations at Richards Bay Minerals in South Africa. Spectris rose 1.3%, after the instrumentations company announced that it would sell its NDC Technologies business to Nordson for a consideration of £130.0 million. PureTech Health edged up 1.2%, even though the company swung to an interim loss. On the flipside, NCC Group fell 3.3%, after a broker downgraded its rating on the stock to ‘Hold’ from ‘Buy’. John Wood Group slid 0.2%, after the company reported a decline in its revenue and profit in the first half of the year. The FTSE 100 advanced 0.2%, to close at 7,125.8, while the FTSE 250 rose 0.6%, to end at 23,886.0. . European Markets Finished mostly lower yesterday, as investors remained cautious due to rising cases of the Delta variant of the coronavirus in many countries. Novartis fell 1.7%, after the drug maker announced that its Kymriah CAR-T therapy failed to reach its primary endpoint of event-free survival in a phase III study. On the other hand, Bakkafrost rose 1.9%, after the salmon farmer reported upbeat results in the second quarter. Daimler added 1.3%, following news that German regulator, BaFin found no evidence to pursue an insider trading investigation against the carmaker. The FTSEurofirst 300 index marginally fell to close at 1,819.4. Among other European markets, the German DAX Xetra 30 rose 0.3%, to close at 15,905.9, while the French CAC-40 dropped 0.3%, to settle at 6,664.3. . US Markets Closed higher yesterday, led by gains in energy and travel sector stocks and amid hopes over quicker economic recovery. Palo Alto Networks surged 18.6%, after the cybersecurity company reported better than expected revenue and earnings in the fourth quarter. Best Buy climbed 8.3%, after the electronics retailer reported upbeat results in the second quarter and lifted its annual same store sales outlook. Cara Therapeutics advanced 4.2%, following news that the company received acceptance from the US Food and Drug Administration for its Korsuva injection. Medtronic rose 3.2%, after the medical device maker reported robust results in the first quarter and raised its full year earnings guidance. Cigna edged up 2.0%, after the insurance company announced a $2.0 billion stock repurchase agreement with Morgan Stanley and JP Morgan Chase Bank. The S&P 500 gained 0.2% to settle at 4,486.2. The DJIA rose 0.1% to settle at 35,366.3, while the NASDAQ added 0.5%, to close at 15,019.8. . Asian Markets Were trading lower this morning. In Japan, Denso and NEXON have advanced 2.2% and 2.6%, respectively. Meanwhile, Aeon and M3 have dropped 1.4% and 1.7%, respectively. In Hong Kong, MTR and China Construction Bank have fallen 1.3% and 1.4%, respectively. Meanwhile, WH Group and Meituan have risen 2.0% and 2.3%, respectively. In South Korea, NeXT Science and Inscobee have declined 5.0% and 7.0%, respectively. Meanwhile, DSR and Asiana IDT have climbed 8.8% and 9.4%, respectively. The Nikkei 225 index is trading marginally higher at 27,733.1. The Hang Seng index is trading 0.5% down at 25,593.0, while the Kospi index is trading 0.2% lower at 3,133.5.
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By Alun John and Tom Westbrook HONG KONG/SINGAPORE (Reuters) - Asian stocks slumped to their lowest levels this year and the dollar hit 10-month highs on Thursday as a double-whammy of worries about global growth and an end to central bank support drove nervous investors toward safety. Commodities were also sold with oil down for a sixth straight session and at three-month lows, while growth bellwether copper fell to a two-month trough. [O/R][MET/L] MSCI's broadest index of Asia-Pacific shares outside Japan dropped 1.5% to its lowest level since December. S&P 500 futures fell 0.1% and Euro STOXX 50 futures were off 0.63% by midway through the Asia day. "You can't find a bull out there," said Kay Van-Petersen, a global macro strategist at Saxo Capital Markets in Singapore. He said "an accumulation of things," from the spread of the Delta virus variant to a tech crackdown in China and the impression from Federal Reserve minutes that a slowdown in asset purchases looms was enough to sink fragile sentiment in Asia. The dollar rose 0.3% to $1.1665 per euro, hitting its highest since November 2020 along with the dollar index as the greenback made 2021 peaks on the Australian and New Zealand dollars. [FRX/] Selling pressure in stock markets extended from Chinese tech shares to semiconductors and miners. The Hang Seng tech index fell 1.8% to its lowest level since its launch last year. The broader Hang Seng dropped 1.6%. (HK) Alibaba (NYSE:BABA)'s Hong Kong shares fell to a record low. Chip giant TSMC fell 2% and had Taiwan's benchmark on course for its worst session since May, while tumbling iron ore prices pushed shares in global miners BHP and Rio Tinto (NYSE:RIO) to their lowest in months. The two miners look set for their worst weekly drops since the height of pandemic panic in markets last year, even after BHP reported its best profit in almost a decade on Tuesday. "The spreading Delta variant is pushing down economic growth," said Ayako Sera, market strategist at Sumitomo Mitsui (NYSE:SMFG) Trust Bank. "But on the other hand, in the grand scheme of things, the Federal Reserve and some other central banks are starting to remove stimulus they began to deal with the pandemic ... so the balance is tilting in the direction of risk-aversion." The CBOE Volatility index, also known as Wall Street's fear gauge, jumped 3.66 points to its highest level in about a month overnight and the S&P 500 index fell 1% to a two-week low. (N) Minutes from the Fed's July meeting published on Wednesday showed officials expect they could ease stimulus this year, though there was division over recovery in the labour market and the level of risk posed by new rises in cases. "The minutes show a Fed that is pretty split on most things, but recognises that we are getting much closer to the point of tapering," wrote ING analysts in a note. Focus now shifts to the Fed's annual research conference in Jackson Hole, Wyoming, next week for any read about the central bank's next steps. U.S. Treasury yields held near recent lows in Asia. Benchmark 10-year notes were last at 1.2650% with growth wobbles driving demand for bonds. [US/] Oil extended losses into a sixth day on Thursday, falling to three-month lows. ANZ analysts said rising U.S. inventories had fuelled fears of weaker demand amid a spike in COVID-19 cases worldwide. [O/R] Brent crude was last down 1% at $67.54 a barrel, U.S. crude lost 1.2% to trade at $64.42 a barrel. The stronger dollar also dragged on gold, with the spot price dropping 0.55% to $1778.87. [GOL/]
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un po' come il titolo Leonardo prima e' caduto e poi si sta rialzando alla grande ahahah > @AntonioMangano said: Tamberi dopo il grave infortunio a Rio 2016, si è rialzato ed è tornato il più forte di tutti, nessuno lo dava per vincente, nessuno
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Tamberi dopo il grave infortunio a Rio 2016, si è rialzato ed è tornato il più forte di tutti, nessuno lo dava per vincente, nessuno
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UK Market Finished weaker yesterday, led by losses in insurance and consumer staple sector stocks. Moonpig Group plunged 9.3%, after the company warned about a drop in sales in the coming months. Reckitt Benckiser Group declined 8.4%, after the consumer giant swung to a pre-tax loss in the first half of the year. Ascential dropped 6.5%, after the company raised £153.0 million through a share placing to strengthen its balance sheet. Games Workshop Group fell 5.6%, despite reporting a jump in its full year revenue. Rio Tinto shed 1.1%, after the miner announced that it would cut production at its aluminium smelter in Canada due to union strikes. On the flipside, Croda International advanced 5.6%, after the company announced that it expects to report better than expected annual profit. The FTSE 100 declined 0.4%, to close at 6,996.1, while the FTSE 250 fell 0.2%, to end at 22,877.0. . Europe Market Closed lower yesterday, amid concerns that rise in the Delta variant cases of coronavirus would affect global economic recovery. Logitech International declined 9.9%, after the maker of computer equipment maintained its annual targets, despite reporting upbeat results in the first quarter. MorphoSys dropped 9.3%, after the biotech company cut its annual revenue guidance. LVMH Moet Hennessy Louis Vuitton slid 0.6%, even though the luxury goods company reported an increase in sales in the second quarter. Sodexo shed 0.1%. The catering and food services group announced that it has started exclusive negotiations to combine its global childcare services, including Liveli in France, with those of the Grandir group. On the other hand, Royal KPN advanced 2.1%. The telecom company announced a share buyback program worth €200.0 million. The FTSEurofirst300index slipped 0.6%, to settle at 1,766.9. The German DAX Xetra fell 0.6%, tosettleat15,519.1, while the French CAC-40 shed 0.7%, to close at 6,531.9. . US Market Finished lower yesterday, ahead of quarterly earnings reports from technology companies. United Parcel Service dropped 7.0%, after the logistics company reported lower than expected domestic revenue in the second quarter. Moderna fell 2.2%, after the vaccine provider reported that some of its foreign manufacturing partners were facing delays due to laboratory testing issues. Intel dipped 2.1%. The company announced that its factories would start building Qualcomm chips and laid out plans to expand its new foundry business. Tesla shed 2.0%, even though the company reported upbeat results in thesecondquarter.3Mslid 0.6%. The company reported better than anticipated revenue and raised its annual revenue outlook. On the other hand, General Electric rose 1.2%, after the company raised its cash flow forecast for the second quarter. The S&P 500 slipped 0.5%, to settle at 4,401.5. The DJIA fell 0.2%, to settle at 35,058.5, while the NASDAQ shed 1.2%, tocloseat14,660.6. . Asian Market Were trading mostly higher this morning. In Japan, Tokyo Electron and Advantest have dropped 2.6% and 3.0%, respectively. Meanwhile, Mazda Motor and Kobe Steel have advanced 1.6% and 2.2%, respectively. In Hong Kong, Sino Biopharmaceutical and Country Garden Holdings have risen 3.0% and 4.1%, respectively. Meanwhile, Hengan International Group and Tencent Holdings have fallen 1.1% and 3.5%, respectively. In South Korea, Shinwon and Jico have climbed 6.7% and 29.75, respectively. Meanwhile, NPC and Shinsung Tongsang have declined 4.2% and 5.0%, respectively. The Nikkei 225 index is trading 1.1% lower at 27,648.8. The Hang Seng index is trading 0.5% up at 25,213.8, while the Kospi index is trading marginally higher at 3,232.8.
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Monday, July 26, 2021 Futures Up/Down % Last Dow -112.00 0.32% 34,839 S&P 500 -10.25 0.23% 4,393 Nasdaq -20.50 0.14% 15,077 Stocks are pulling back after another record high for stocks on Friday as markets ready for the biggest week of quarterly earnings (about 1/3 of the S&P 500 report this week) including mega-cap giants including Apple, Amazon, Facebook, Microsoft, Alphabet, Tesla, and Boeing among them. Sentiment was hurt by China’s widening crackdown of the technology sector and a statement from Beijing that the U.S.-China relationship was “now in a stalemate and faces serious difficulties” as high-level talks began. The comment sunk Asian markets as The Nikkei Index rose 285 points to 27,833, but the Shanghai Index tumbled -82 points to 3,467 and the Hang Seng Index plunged -1,129 points (or 4.13%) to settle at 26,192. In Europe, the German DAX is down over -60 points to 15,600, while the FTSE 100 dips about -0.25% to hold just above the 7,000 level. The yield on the benchmark 10-year Treasury fell to 1.246% as investors awaited the Federal Reserve’s outlook. The FOMC 2-day meeting begins Tuesday and ends Wednesday with a policy statement/press conference from Fed Chairman Jerome Powell. Stock averages posted strong returns last week as the S&P 500 rose 1.96%, the Dow rose 1.08%, and the Nasdaq added 2.84% in a big comeback (and then some) as the major indices rode a rally back into record territory, posting four-straight up days after a big selloff to start the week. The S&P, Nasdaq and Dow closed at all-time highs to make it four winning weeks out of five with the Dow ending above 35,000. It took 69 trading days to go from 34k to 35k, which is the longest since 29k to 30k took 218 days. The 10-year Treasury yield also had a big comeback, but ended the week around 1.29%, just below where it was last Friday (it had dropped to as low on 1.12% on Tuesday). Bitcoin prices rose above its 50-day moving average on Saturday for the first time since May 12. It rose again Sunday, its sixth consecutive day of gains, to above $38K. Bitcoin traded above the technical level after comments from Ark Investment Management LLC’s Cathie Wood and Tesla Inc. Chief Executive Officer Elon Musk helped boost its momentum. Prices took off yesterday after London’s City A.M. newspaper said Amazon ($AMZN) is looking to accept bitcoin payments by year-end – the story is boosting shares of Bitcoin miners, banks etc.: $SI, $MARA, $RIOT, $MSTR, $COIN. Market Closing Prices Yesterday The S&P 500 Index gained 44.31 points, or 1.01%, to 4,411.79 The Dow Jones Industrial Average rose 238.20 points, or 0.68%, to 35,061.55 The Nasdaq Composite surged 152.39 points, or 1.04%, to 14,836.99 The Russell 2000 Index advanced 10.17 points, or 0.46% to 2,209.65 Events Calendar for Today 10:00 AM ET New Home Sales MoM for June 10:30 AM ET Dallas Fed Manufacturing for July Earnings Calendar: Earnings Before the Open: $ARLP, $BOH, $CBU, $HAS, $LII, $LMT, $OTIS, $PETS, $RPM Earnings After the Close: $ACC, $ADC, $AGNC, $AGRX, $AMKR, $AMP, $ARE, $ARI, AXTA, $BDN, $BRO, $CALX, $CATY, $CDNS, $CR, $FFIV, FRME, $FSTX, $HLX, $HMST, $HSII, $HTLF, $HXL, $IRT, $JJSF, KREF, MEDP, MEDS, $NBTB, $PKG, $RBB, $RRC, $SSD, $SUI, $TBI, $TNET, $TSLA, $UHS Other Key Events: Alzheimer’s Association International Conference (AAIC) 2021 (virtual), 7/26-7/30 Society of Cataract & Refractive Surgery, 7/23-7/27, in Las Vegas Macro Up/Down Last Nymex -0.56 71.51 Brent -0.48 73.62 Gold 6.30 1,808.45 EUR/USD 0.0023 1.1794 JPY/USD -0.28 110.27 10-Year Note -0.04 1.245% World News Germany July IFO climate8 vs 102.1 cons; Expectations 101.2 vs 103.3 consensus; Assessment 100.4 vs 101.5 consensus; German IFO: Supply problems are weighing on economy in both industry & retail; majority of firms complain of materials shortage and “massive” price increases; industry says it is short of production targets Sector News Breakdown Consumer Hasbro ($HAS) Q2 adj EPS $1.05 vs. est. $0.48; Q2 revs $1.32B vs. est. $ 1.17B Travel and leisure stocks rallied in the initial reopening stage of the pandemic, but the surge has fizzled with the spread of the delta variant. Barron’s identifies six stocks that can be bargains during the next leg of the reopening. Hilton ($HLT), Host Hotels & Resorts ($HST), MGM Growth Properties ($MGP), Royal Caribbean ($RCL), Travel + Leisure ($TNL), and Wyndham Hotels & Resorts ($WH) have some attributes to withstand uncertain stretches amid the rise in Covid variant, according to Barron’s China confirmed that the country is banning for-profit school tutoring companies after a report on the possible move sent shares of tutoring firms TAL Education ($TAL), New Oriental ($EDU) and Gaotu Techu ($GOTU) plunging on Friday. Companies that teach school subjects can no longer accept overseas investments, according to a Bloomberg report, which cited a notice from China’s State Council. Listed firms can no longer raise capital through stock markets Airbnb ($ABNB) CEO told Barron’s that the industry still has room to grow despite the delta variant. The pandemic has opened up a whole new business, such as monthly rentals, as people work from new places. He expects longer stays to be the bread and butter at some point TripAdvisor ($TRIP) is the cheapest online travel stock to buy according to Barron’s saying while it has struggled to make the most of its hundreds of millions of users, that could soon change as the company has started a new travel subscription service that offers discounted hotel rates and other benefits; shares now around $36, look inexpensive, having fallen from a March peak of $65 Amazon ($AMZN) is said to be looking to accept bitcoin payments by the end of the year and its exploring its own token for next year. Amazon has been working on the plan since 2019, according to a City A.M. report, which cites an unidentified insider General Motors ($GM) and its Cruise robo-taxi subsidiary have filed a lawsuit to stop Ford Motor ($F) from using the name “BlueCruise” to market its hands-free driving technology Energy, Industrials and Materials RBC Bearings ($ROLL) is in advanced talks to buy ABB Ltd.’s ($ABB) mechanical power transmission business, for between $2.5 billion and $3 billion Bloomberg reported this weekend Lithium Americas ($LAC) rises after a U.S. federal judge ruled that LAC may conduct excavation work at its Thacker Pass lithium mine site in Nevada, which could become one of the country’s biggest lithium mines producing 30,000 tonnes Otis Worldwide ($OTIS) Q2 adj EPS 79c vs. est. 71c; Q2 revs $3.7B vs. est. $3.45B; Q2 new equipment orders were up 23.9% and backlog was up 10%; raises FY21 adjusted EPS view to $2.89-$2.93 from $2.78-$2.84 (est. $2.87) and boosts FY21 revs view to $14.1B-$14.2B from $13.6B-$13.9B Canada’s Unifor union says ~900 workers have gone on strike at Rio Tinto’s ($RIO) Kitimat aluminum smelting plant and Kemano power generating facility in British Columbia over labor contracts with the company Seadrill ($SDRLF) said it entered into agreements with creditors to raise $350 million in new financing and reduce its liabilities by over $4.9 billion Financials Robinhood ($HOOD) IPO coming soon, and Barron’s cautious on shares; notes Robinhood is a truly transformational company, but its problem is the quality and sustainability of its revenue, notes is also highly dependent on cryptocurrency trading, another area under close review by the SEC KeyCorp ($KEY), M&T Bank ($MTB) among bank stocks with yields above 3%, according to Barron’s noting this year’s rally in bank stocks appears to have slowed to a sputter, but investors should stick around given banks’ reliable dividends Healthcare Bristol Myers ($BMY) decided to voluntarily withdraw the indication for Opdivo as a single agent for patients with hepatocellular carcinoma Incyte Corporation ($INCY) said the FDA issued a Complete Response Letter regarding its Biologics License Application (BLA) for retifanlimab, an intravenous PD-1 inhibitor, for the treatment of adult patients with locally advanced or metastatic squamous cell carcinoma of the anal canal (SCAC) who have progressed on, or who are intolerant of, platinum-based chemotherapy. Genetron Holdings ($GTH) announces that its Ayvakit (avapritinib) companion diagnostic (CDx) kit, developed in partnership with CStone Pharmaceuticals has entered the priority review and approval process in China. PerkinElmer, Inc. ($PKI) entered into an agreement to acquire BioLegend, a leading, global provider of life science antibodies and reagents, for approximately $5.25 billion in a combination of cash and stock, subject to certain adjustments Tonix Pharmaceuticals ($TNXP) said it will stop enrollment in the Phase 3 Rally study of TNX-102 SL 5.6 mg for the management of fibromyalgia, sending shares lower by over 30% Technology, Media & Telecom Tencent Music ($TME) shares fall -14% after Chinese regulators ordered the company to give up exclusive music streaming rights and pay half a million yuan in fines Check Point ($CHKP) Q2 EPS $1.61 vs., est. $1.56; Q2 revs $526.1M vs. est. $523.7M Consumer spending on videogames in the second quarter eked out a 2% gain against very tough pandemic comps, as data from NPD Group’s Q2 2021 Games Market Dynamics report show overall spending hit $14B for the April-June quarter, with gains across PC, cloud and non-console VR content, mobile and subscription spending as well as hardware.
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UK Markets Finished lower on Friday, led by losses in mining sector stocks and on fears over rising coronavirus cases. Burberry Group dropped 5.0%, even though the luxury group announced that its sales have returned to pre-pandemic levels. Rio Tinto fell 3.4%, after the mining company reported a drop in its second quarter iron ore shipments. DS Smith slid 0.3%, after the packaging firm announced that it would sell its De Hoop paper mill in Netherlands to De Jong Packaging for a cash consideration of €50.0 million. On the flip side, HomeServe advanced 3.2%, after the home repairs company maintained its full year guidance. DCC added 2.4%, after the company announced that its operating profits were ahead of market estimates in the first quarter. Whitbread rose 1.7%, after a top broker upgraded its rating on the stock to ‘Buy’ from ‘Add’. The FTSE 100 declined 0.1%, to close at 7,008.1, while the FTSE 250 fell 0.2%, to end at 22,467.0. . European Markets Closed the week weaker on Friday, amid growing worries over rising coronavirus cases across the continent. Telefonaktiebolaget LM Ericsson declined 9.4%, after the telecom equipment maker reported lower than expected earnings in the second quarter. Compagnie Financiere Richemont shed 0.9%. The company reported that its constant currency sales more than doubled in the first quarter. Puma slid 0.3%, even though the sportswear company reported an increase in sales in the second quarter and lifted its sales outlook for FY 2021. On the other hand, Sinch surged 14.6%, after the cloud computing company posted robust earnings report in the second quarter. Swedbank rose 2.9%, after the lender reported upbeat results in the second quarter. The FTSEurofirst 300 index slipped 0.4%, to settle at 1,754.6. The German DAX Xetra fell 0.6%, to settle at 15,540.3, while the French CAC-40 shed 0.5%, to close at 6,460.1. . US Markets Also finishing lower on Friday, amid ongoing concerns about rising inflation. Lordstown Motors dropped 3.9%, following reports that the electric truck maker was under investigation by federal prosecutors for vehicle pre orders as well as its merger with special purpose acquisition company, DiamondPeak Holdings. Charles Schwab fell 2.4%, after the company reported a decline in its profits in the second quarter. Intel lost 1.5%, amid reports that the chipmaker is planning to acquire GlobalFoundries for around $30 billion. Bristol Myers Squibb slid 0.2%, after the biopharmaceutical company announced that its late-stage study related to the treatment for head and neck cancer failed to meet its target goal. On the other hand, Moderna climbed 10.3%, following news that the company would list on the S&P 500 index replacing Alexion Pharmaceuticals. Honest rose 2.3%, after a top broker upgraded its rating on the stock to ‘Buy’ from ‘Hold’. The S&P 500 slipped 0.8%, to settle at 4,327.2. The DJIA fell 0.9%, to settle at 34,687.9, while the NASDAQ shed 0.8%, to close at 14,427.2. . . Asian Markets Are continuing to trading lower this morning, amid concerns about the impact of rising Covid-19 cases. In Japan, Fanuc and Ebara have dropped 3.5% and 4.7%, respectively. Meanwhile, Daikin Industries and Chugai Pharmaceutical have advanced 0.2% and 1.8%, respectively. In Hong Kong, Tencent Holdings and AIA Group have fallen 2.4% and 2.9%, respectively. Meanwhile, China Mobile and China Unicom have risen 1.3% and 2.9%, respectively. In South Korea, Air Busan and HansaeMK have declined 6.5% and 10.2%, respectively. Meanwhile, AJ Networks and SoluM have climbed 7.5% and 10.6%, respectively. The Nikkei 225 index is trading 1.5% lower at 27,585.0. The Hang Seng index is trading 1.8% down at 27,502.9, while the Kospi index is trading 1.0% lower at 3,243.8.
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Thursday, July 8, 2021 Futures Up/Down % Last Dow -494.00 1.43% 34,074 S&P 500 -60.25 1.40% 4,289 Nasdaq -196.50 1.33% 14,606 Stocks slide around the globe, as the S&P 500 and Nasdaq Composite tumble following fresh all-time highs on Wednesday. A delayed reaction? Stocks were little changed late afternoon following the release of the FOMC Minutes from its prior meeting, where Fed officials saw a tightening of monetary policy potentially happening sooner than expected as the economy recovers from the pandemic, but no move to taper asset purchases seems imminent. At the same time, worries about the economic recovery continue to weigh as the Covid-19 delta variant has spread rapidly in countries with lagging vaccination rates, as the WHO urged caution on worldwide reopenings. In Asian markets, The Nikkei Index dropped -248 points to 28,118, the Shanghai Index slid -28 points to 3,525 and the Hang Seng Index tumbled 2.9% or 800 points to settle at 27,153. In Europe, markets are broadly lower as the German DAX drops over 270 points to 15,420, while the FTSE 100 slides around 2% to hold just above the 7,000 level. European equities are deep in the red with most indexes printing fresh lows for the week. Eurostoxx 50 drops as much as 1.9%, while all Stoxx 600 sectors are in the red, with miners, retail and banks performing the worst. Market Closing Prices Yesterday The S&P 500 Index gained 14.59 points, or 0.34%, to 4,358.13 The Dow Jones Industrial Average rose 104.42 points, or 0.30%, to 34,681.79 The Nasdaq Composite edged higher 1.42 points, or 0.01%, to 14,665.06 The Russell 2000 Index declined -21.66 points, or 0.95% to 2,252.85 Events Calendar for Today 8:30 AM ET Weekly Jobless Claims…est. 350K 8:30 AM EST Continuing Claims…est. 3.335M 10:30 AM ET Weekly EIA Natural Gas Inventory Data 11:00 AM ET Weekly DOE Inventory Data 3:00 PM ET Consumer Credit for May…est. $18.4B Earnings Calendar: Earnings Before the Open: $HELE Earnings After the Close: $ACCD, $DCT, $KSHB, $LEVI, $PSMT Other Key Events: China Producer Price Index and Consumer Price Index for June Macro Up/Down Last Nymex -0.80 71.40 Brent -0.66 72.77 Gold 7.10 1,810.75 EUR/USD 0.0036 1.1826 JPY/USD -0.82 109.84 10-Year Note -0.066 1.255% Sector News Breakdown Consumer GAN ($GAN) rises after saying sees Q2 revs between $34-$35M, beating the consensus of $23.98M; positive Adj. EBITDA to be $3-$7M as higher than expected revenue more than offset strategic investments in talent and technology Overstock ($OSTK) initiated with a Buy and $150 tgt at Needham WD-40 ($WDFC) Q3 EPS $1.52 vs. est. $1.15; Q3 sales rose 39% to $136.4M vs. est. $108.33M; sees FY sales $475m-$490m vs. rest. $461.85M; do not expect to see sales growth of current magnitude over long-term Tesla ($TSLA) introduced a new, lower-priced version of the Model Y to the China market; the Standard Range Model Y starts at 276,000 yuan ($42,600) after government subsidies and incentives; Tesla began taking orders for the vehicle on Thursday. Didi ($DIDI) shares on track for a 4th straight decline after IPO last week, extending the losses suffered as Asian stocks listed in New York also drop following a day of declines for tech companies in Hong Kong. Stellantis ($STLA) slips after saying adjusted operating income margins in 1H are expected to exceed previously communicated FY margin guidance range of 5.5% to 7.5%; said expects negative industrial free cash flows in 1H Energy, Industrials and Materials American Petroleum Institute ($API) showed a draw of 7.98M barrels of oil for the latest week; gasoline inventories showed a draw of 2.74M barrels, distillate inventories show a build of 1.09M barrels and Cushing inventories show a build of 152K barrels. Freeport McMoRan ($FCX) downgraded to Underweight from Equal Weight at Barclays Rio Tinto ($RIO) and South Korean steelmaker POSCO agreed to jointly develop technologies to transition to a low-carbon emission steel value chain. Maxar Technologies ($MAXR) contracts for WorldView Legion satellite constellation capacity through an expanded agreement with a key international defense and intelligence customer (multi-year, $35M contract) Sonoco ($SON) updates $115 million project horizon progress; announces intentions to close 70,000 tons/year of capacity at Hartsville mill complex; investment to convert Hartsville, S.C., corrugated medium machine to urb scheduled to be completed in q2 of 2022 The Federal Aviation Administration issued an emergency directive requiring main rotor inspections for ~400 Textron ($TXT) Bell helicopters after Canadian and U.S. investigators discovered a possible flaw while probing a fatal crash last week. Financials Cryptocurrency-exposed stocks like $RIOT, $MARA, $MSTR, looking sharply lower in premarket trading with Bitcoin sinking back below $33,000 per token, down over 5%, with Ethereum down over 7% to slip below $2,200 Charles Schwab ($SCHW) downgraded to Neutral from Conviction Buy at Goldman Sachs Pzena Investment Management Inc. ($PZN) preliminary total AUM as of June 30, 2021 was $53.1 bln Healthcare Amgen ($AMGN) said the U.S. FDA has accepted a Biologics License Application ($BLA) and granted Priority Review for Tezepelumab in the treatment of asthma; Tezepelumab is being developed by Amgen in collaboration with AstraZeneca ($AZN) Ideaya Biosciences ($IDYA)64M share Secondary priced at $17.25 SeaSpine Holdings ($SPNE) said the U.S. FDA has granted a 510k clearance for the company’s 7D Percutaneous Spine Module for minimally invasive surgery Technology, Media & Telecom Alphabet Inc’s ($GOOGL) slides as thirty-seven U.S. states and district attorneys general sued Google on Wednesday, alleging the search giant bought off competitors; also alleged that the co was using restrictive contracts to unlawfully maintain a monopoly for its app store on Android phones Tessco Technologies ($TESS) shares jump over 30% after the company said Wednesday evening it expects 2022 1Q total revenue of $105M, 9% higher than a year earlier
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Next Earnings Date
Next Dividend Date
Rio Tinto Group is an Anglo-Australian multinational company that is the second-largest metals and mining corporation. Although primarily focused on extraction of minerals, Rio Tinto also has significant operations in refining, particularly the refining of bauxite and iron ore.
CEO: Jean-Sebastien Jacques
HQ: 6 St Jamess Square, SW1Y 4AD London