TheChek News Flow

Asian equities edged lower as investors turned cautious after a rally in chipmakers and other tech stocks helped propel them to their best quarter in 17 years. MSCI’s regional equities gauge dropped 0.2%, snapping a two day gain, with nine of the 11 subgroups declining. Stocks in Japan and Taiwan rose, while South Korea’s benchmark index dropped 2.3%. Hong Kong’s markets are closed for a public holiday. Equity-index futures indicated Asian losses will spread to Europe and the US. Elsewhere, Brent crude rose 0.4% to $73.20 a barrel, reversing its losses from Tuesday, even as the US said it had positive talks in Doha on a deal with Iran. The dollar strengthened for a second day, while gold slipped 0.6%. The consolidation in stocks followed a quarter in which investors looked past geopolitical tensions and piled into the AI trade, while the latest US economic data reinforced the view that the world’s largest economy remains resilient. The equities rally faces key tests with Federal Reserve Chairman Kevin Warsh speaking in Europe Wednesday, before attention shifts to the US June payrolls report on Thursday for clues about the path of interest rates. Global equities had their best quarter in almost six years, while Japan’s Nikkei 225 Stock Average gained more than 37% — the best three-month performance on record.  South Korea’s Kospi, the world’s best-performing major benchmark this year, jumped almost 70% last quarter, the best advance since 1998. The gauge fell as much as 3.9% Wednesday, with investor focus on a resumption of the National Pension Service’s domestic stock rebalancing after a temporary suspension through end-June. Meanwhile, Tuesday’s economic reports showed US job openings were little changed in May, signaling labor demand remained steady, while consumer confidence edged higher in June as lower gasoline prices helped offset concerns about the job market.  Steady employment data and elevated inflation readings have raised expectations that the Fed may need to raise interest rates later this year to tame price pressures. Officials will hold their next policy meeting at the end of July after voting unanimously to leave rates unchanged at last month’s meeting, the first led by chairman Warsh. In other corners of the market, Treasuries inched up. The yield on the benchmark 10-year note fell one basis point to 4.46%. The yen weakened 0.1% to 162.77 per dollar after falling to a 40-year low this week. The currency’s slide to a four-decade low against the dollar left traders eyeing Japan’s next intervention threshold. After the currency weakened past the 162 per dollar level on Tuesday, strategists increasingly pointed to 163 and beyond, arguing the Finance Ministry may tolerate a weaker yen than it did in 2024. Meanwhile, US negotiators Jared Kushner and Steve Witkoff had positive discussions with regional leaders in Qatar and technical talks with Iran are moving ahead, according to a senior administration official. An interim agreement signed earlier this month opened the door to a 60-day negotiating period, but those efforts faced a setback in recent days after a series of clashes over the Strait of Hormuz. US After Hours

Macro :
- US Withdraws Controls on Anthropic’s Fable 5, Wired Reports

- Ashton Kutcher Exits From Sound Ventures to Set Up New Venture Firm -- WSJ

- Chipmaker Stocks See Best Quarter Ever: S&P 500 Sector Wrap

- Bitcoin Slides Below $60,000 as Strategy Selloff Refuels Anxiety

- *BURRY SAYS HE SHORTED TESLA, NVIDIA AND APPLIED MATERIALS

Keep an eye on :

- ABVX FP : Abivax Is Said to Offer ADRs at Fixed Price of $125 Apiece - 0.02% in After Hours - Stock Closed will open with US Line at 15h30 paris time

- ABVX US : Abivax Announces Launch of Public Offering of American Depositary Shares, Abivax Is Said to Offer ADRs at Fixed Price of $125 Apiece

- AIR FP : BOC Aviation Signs Lease Pact With Starlux for Eight Airbus Jets

- AKER NO : Aker Says Cognite Sale to Generate Proceeds of $1.48B for Co

- AA US : Alcoa Bets on Aluminum Boom With $5.6 Billion South32 Deal

- AMBA US : Ambarella Rallies as Rosenblatt Names It a Top Pick for 2026 +28%

- ANGH US : Anghami Confirms Holder OSN Take-Private Offer at $3.39/Share

- Anthropic IPO : Anthropic’s Fable 5 Has Been Analyzed and Approved, Lutnick Says

- AAPL US : Apple’s Tim Cook, EU’s Virkkunen Held Talks Over ‘Siri AI’: FT

- ASML NA : ASML, Chip-Tool Stocks Soar as Samsung, SK Plan Investments

- ATS AV : AT&S Holders Offer About 567k Shares: Terms, AT&S Offering by Holders Prices at EU200/Share

- AAT SS : Attendo CEO Martin Tivéus Resigns; to Leave Role End-2026

- ADX SM : Audax Says Continues to See Elmera as Highly Attractive

- BAYN GY : Monsanto Files Petition for US Duties on Chinese Glyphosate

- BYW6 GY : BayWa Reaches Deal in Principle to Revise Restructuring

- BE US : Bloom Energy Rises on Expanded AI Brookfield Partnership (1)

- BA US : Boeing Ops Disrupted Coast-To-Coast by IT Outage: Air Current

- BOOZT SS : Boozt CEO Haraldsson Sells SEK14.8m of Shares in Company

- BP/ LN : BP Trading Boss Howle to Retire in Latest Senior Reshuffle

- CINT SS : Cint Says Tricarbs Bidco Raises Its Cash Offer to SEK6 a Share

- SCHO US : Dish DBS Files for Chapter 11 Bankruptcy

- EDF FP : EDF, KKR Deal for EDF Power Solutions Valued at $4.2b

- EDP PL : EDP to Sell Stake in A 68 MWac Portfolio in Italy for EU150m

- ELMRA NO : Audax Says Continues to See Elmera as Highly Attractive

- ENI IM : Eni, Mercuria to Form Partnership to Trade Energy Commodities:FT

- EQNR NO : Transocean Climbs on Pact With Equinor Valued at Over $1B

- P US : Jana Partners Built New Position in Everpure: Reutersdes

- FDX US : CMA CGM Nears $1.4B Deal for FedEx Logistics Unit: FT

- FLY US : NASA Selects Three Companies For Four New Moon Missions

- GEKTERNA GA : Gek Terna Upsizes Private Placement to 15.5m Shares: Terms

- GRF SM : Grifols Reorganizes Operating Model, Appoints US Biopharma SVP

- IDIA SW : Idorsia Appoints Roland Wandeler as CEO Effective October 1

- INGA NA : ING Close to Buying 40% Stake in Singular Bank: Expansion

- IPN FP : Ipsen to Buy Memo Therapeutics to Expand Rare Disease Portfolio

- KKR US : SK, KKR to Launch 10GW Renewable Energy Platform in South Korea

- KKR US : EDF, KKR Deal for EDF Power Solutions Valued at $4.2b

- LMT US : Lockheed Wins $103.9 Million U.S. Navy Contract

- MAERSKB DC : Maersk Says Port of La Guaira Ops Not Yet Authorized to Resume

- MSFT US : Microsoft plans another round of job cuts, impacting thousands of roles

- NWG LN : NatWest sued for £250mn by firm linked to Thurrock council scandal

- NGNE US : Neurogene Is Said to Seek $75 Million from Stock Sale

- NKE US : Nike Shares Drop After Outlook, Cautious Consumer Comments, Nike CFO Doesn't Expect Meaningful Improvement in Environment in Next Six Months
- PIRC IM : Pirelli Board Names Tronchetti Exec Chairman, Backs US Push

- PIRC IM : Pirelli Seeks Board Approval for Up to $1.2 Billion Investment Plan to Boost US Operations

- SAABB SS : Saab Signs Contract for Gripen E Fighter Aircraft for Ukraine

- SU FP : Schneider’s Cognite Deal Expensive, Fits Strategy: Street Wrap

- SHEL LN : Shell to Sell Some Deepwater US Oil Assets for $1.7 Billion

- S32 AU : South32 Shares Up 9.1% in Sydney After Alcoa Aluminum Deal

- SF SS : Stillfront Initiates Search for New CEO to Succeed Alexis Bonte

- SSTK US : *SHUTTERSTOCK FALLS 17% AFTER GETTY IMAGES TERMINATES MERGER

- TKMS GY : TKMS Subsidiary Was Victim of Cyberattack: WirtschaftsWoche

- RIG US : Transocean Climbs on Pact With Equinor Valued at Over $1B --> +2.9%

- VWS DC ; Vestas Gets More Than 450 MW of New Wind Turbine Orders
- WLN FP : Crédit Agricole to Acquire CAWL From Worldline Group