- Lanxess (LXS TH) +5.4%
- Lanxess, Advent to Buy DSM Engineering Materials Ops for EU3.7b
- Unilever (UNVB TH) +2.6%
- Unilever Names Nelson Peltz as Non-Executive Director
- Vodafone (VODI TH) +2.1%
- Kering (PPX TH) +1.5%
- Rio Tinto (RIO1 TH) +1.4%
- Valeo (VSA2 TH) +1.1%
- Siemens Healthineers (SHL TH) +0.9%
- Siemens Healthineers Raised to Overweight at Barclays
- Hermes (HMI TH) +0.8%
- Equinor (DNQ TH) +0.8%
- Aegon (AEND TH) +0.7%
- Continental (CON TH) -0.9%
- HelloFresh (HFG TH) -0.9%
- Commerzbank (CBK TH) -0.9%
- Hannover Re (HNR1 TH) -1%
- Lufthansa (LHA TH) -1%
- Bayer (BAYN TH) -1.1%
- Veolia (VVD TH) -1.3%
- GSK PLC (GS7 TH) -1.6%
- GSK to Buy Affinivax for $2.1B Upfront, Up to $1.2B Milestones
- Just Eat Takeaway (T5W TH) -2%
- Tiger Global’s Just Eat Takeaway Stake Falls to 2.93% (May 30)
- Delivery Hero (DHER TH) -3.8%
DAX:
- Siemens Healthineers (SHL TH) +1.1%
- Siemens Healthineers Raised to Overweight at Barclays
- Daimler Truck (DTG TH) +0.9%
- Munich Re (MUV2 TH) -0.8%
- Zalando (ZAL TH) -0.8%
- HelloFresh (HFG TH) -0.9%
- Bayer (BAYN TH) -1.1%
- Delivery Hero (DHER TH) -1.5%
MDAX:
- Lanxess (LXS TH) +5.9%
- Lanxess, Advent to Buy DSM Engineering Materials Ops for EU3.7b
- Aroundtown (AT1 TH) +1.1%
- Jungheinrich (JUN3 TH) +1%
- Rheinmetall (RHM TH) +0.8%
- RTL (RRTL TH) +0.6%
- Thyssenkrupp (TKA TH) -0.5%
- K+S (SDF TH) -0.8%
- Commerzbank (CBK TH) -0.9%
- Aixtron (AIXA TH) -1%
- Telefonica Deutschland (O2D TH) -1.2%
SDAX:
- Adler Group (ADJ TH) +11%
- Adler Pulls Development-Project Sale After Buyer Didn’t Pay (1)
- LPKF (LPK TH) +1.5%
- VERBIO Vereinigte (VBK TH) +1%
- Nordex (NDX1 TH) +0.5%
- Deutsche PBB (PBB TH) -0.7%
- Heidelberger Druck (HDD TH) -1.5%
- DWS (DWS TH) -1.5%
- PVA TePla (TPE TH) -2%
- SGL (SGL TH) -2%
Stocks in Asia fluctuated and Treasuries sold off across the curve as oil jumped, adding to worries about how aggressive central banks will need to be to rein in inflation without derailing growth. Technology stocks underpinned gains in Hong Kong, while China rose as data showed factory activity shrinking at a slower pace and a Shanghai Covid lockdown eased. Equities in Japan were little changed. US contracts edged up. Treasury yields jumped more than 10 basis points after German bunds and European bonds sold off. German inflation hit an all-time high, adding to pressure on central bank policy makers to tame rising prices. The dollar advanced. Crude oil rose to around $118 a barrel after the European Union agreed to pursue a partial ban on Russian oil in response to the invasion of Ukraine. Higher energy and food costs are keeping upward pressure on prices globally and squeezing consumers. Global stocks are on track to end the month with modest gains amid skepticism about whether the market is near a trough and as volatility stays elevated. Fears that central bank rate hikes will induce a recession, stubbornly high inflation and uncertainty around how China will boost its flailing economy are keeping investors watchful. Inflation prints in Europe came before a crucial European Central Bank meeting where officials are set to announce the conclusion of large-scale asset purchases and confirm plans to raise interest rates in July for the first time in more than a decade. President Joe Biden will hold a rare Oval office meeting on Tuesday with Fed Chair Jerome Powell amid the highest inflation in decades and ahead of US payroll numbers later this week. Bitcoin was back above $31,000 as investors and strategists said the digital currency is showing signs of bottoming out.
Nikkei -0.16% Hang Seng +0.86% CSI +1.36% Shanghai +0.92% Shenzen +1.28%
Eur$ 1.0747 CNH 6.6795 CNY 6.6666 JPY 128.08 GBP 1.2613 CHF 0.9596 RUB 63.5209 TRY 16.3854 WTI$ 118.15. +2.68% Gold 1,852.27 -0.16% BTC 31,772 +1.65% ETH 1,994.63 +2.12%
S&P +0.21% Nasdaq +0.55% EuroStoxx -0.28% FTSE -0.03% Dax -0.34% SMI -0.38%
Macro :
- Todd Boehly Completes Takeover of UK’s Chelsea FC
Macro :
- Todd Boehly Completes Takeover of UK’s Chelsea FC
- AllianceBernstein Likes China Stocks, Sees Policy Support Coming
Keep an eye on :
- ADJ GY : Adler Group Maintains FY Net Rental Income Forecast
Keep an eye on :
- ADJ GY : Adler Group Maintains FY Net Rental Income Forecast
- ADJ GY : Adler Cancels Development-Project Sale After Buyer Didn’t Pay
- ARGX BB : Argenx’s Efgartigimod Gets Early Access from UK Drug Regulator
- AML LN : Aston Martin Needs DBX, V12, Sportscar Revamps to Reach Targets
- BAVA DC : Bavarian Nordic Boosts FY Revenue Forecast
- BORR NO : Borr Drilling 1Q Net Loss $51.3M Vs. Loss $54.4M Y/y
- CAST SS : Swedish Property Companies Face End of Era as Deal Volumes Slump
- CLNX SM : Cellnex Explores Bid for Deutsche Telekom’s Towers Business
- CLNX SM : Cellnex Explores Bid for Deutsche Telekom’s Towers Business
- CSGN SW : Credit Suisse Weighs Options to Strengthen Capital, Reuters Says
- DSM NA : DSM and Firmenich to Merge in Cash and Stock Deal
- DTE GY : Cellnex Explores Bid for Deutsche Telekom’s Towers Business
- ENI IM : Italy’s Eni Backs Gas Price Cap, CEO Tells Corriere
- IBS PL : Ibersol Says Period for Restaurant Sale Talks Extended to June 3
- INGA NA : Pressure Mounting on ING, UniCredit to Find Russia Exit Strategy
- INTER NA : CSC Extends Offer for Intertrust by 10 Weeks on Antitrust Delay
- INTER NA : CSC Extends Offer for Intertrust by 10 Weeks on Antitrust Delay
- LOGN SW : Logitech Has More to Gain From Gaming Peripherals' Demand Boom
- NUX GY : Mutares to Buy Mann+Hummel Plastic Parts Ops; No Terms
- RLF SW : Relief: Trial of Covid Treatment Aviptadil Discontinued
- SAN FP : Regeneron, Sanofi Say FDA Accepts Dupixent for Priority Review
- STR AV : Strabag 1Q Output Volume EU3.07B
- TIT IM : Telecom Italia Said to Seek $21.5 Billion for Landline Network
- UBXN SW : U-Blox Raises Rev, Ebitda Guidance for FY on Strong Billings
- UCG IM : Pressure Mounting on ING, UniCredit to Find Russia Exit Strategy
- DG FP : Vinci Wins EU535m Contract for Femern Tunnel
>>> Up
* AIB Group Raised to Reduce at AlphaValue/Baader
* Amundi Raised to Outperform at KBW; PT 82 euros
* Aperam Raised to Overweight at Morgan Stanley; PT 51 euros
* Borr Drilling Raised to Buy at SpareBank; PT 55 kroner
* Engie Raised to Buy at HSBC; PT 15.90 euros
* Kering Raised to Buy at HSBC; PT 600 euros
* Northland Power Raised to Buy at Accountability Research
* Northland Power Raised to Buy at Accountability Research
* Shelf Drilling Raised to Buy at SpareBank; PT 25 kroner
* Siemens Healthineers Raised to Overweight at Barclays
* VW Raised to Buy at HSBC; PT 234 euros
>>> Down
* VW Raised to Buy at HSBC; PT 234 euros
>>> Down
* Acerinox Cut to Equal-Weight at Morgan Stanley; PT 13.30 euros
* DWS Cut to Market Perform at KBW; PT 41 euros
* HBM Healthcare Cut to Add at Baader Helvea; PT 292 Swiss francs
* HBM Healthcare Cut to Add at Baader Helvea; PT 292 Swiss francs
* IAG Cut to Equal-Weight at Morgan Stanley; PT 144.89 pence
* Maisons du Monde Cut to Neutral at Citi; PT 14 euros
* Maisons du Monde Cut to Neutral at Citi; PT 14 euros
* S Immo Cut to Accumulate at SRC Research; PT 26 euros
>>> Initiation
* Atome Energy Rated New Buy at Liberum; PT 181 pence
* Quilter Rated New Neutral at Goldman; PT 135 pence
* St James's Place Rated New Buy at Goldman; PT 1,770 pence
* St James's Place Rated New Buy at Goldman; PT 1,770 pence
* Tate & Lyle Resumed Neutral at Citi; PT 850 pence
>>> Call
* AllianceBernstein Likes China Stocks, Sees Policy Support Coming
>>> Call
* AllianceBernstein Likes China Stocks, Sees Policy Support Coming
* Aperam Now Preferred to Acerinox in Stainless Steel, MS Says
* Ferrari PT Cut at Citi, Targets at CMD Expected to Disappoint
* Maisons du Monde Cut to Neutral at Citi on Earnings Headwinds
* Stay Defensive in Airlines, IAG Downgraded: Morgan Stanley
China’s third aircraft carrier ‘to be launched on Dragon Boat Festival’
- Preparations appear to be under way at Jiangnan shipyard in Shanghai, where the warship is under construction
- Military insider says it will take place on Friday and that the vessel ‘needs to go into sea trials as soon as possible’
Recent satellite imagery shows construction work on the aircraft carrier has almost been completed. Photo: Google Earth
A shipyard in Shanghai appears to be preparing to launch China’s third aircraft carrier, the Type 003, and according to a military source it will take place this Friday – coinciding with the Dragon Boat Festival.
The Maritime Safety Administration last Friday issued a notice calling for berths to be cleared for an operation at the No 3 and No 4 docks at the Jiangnan shipyard on Changxing Island, where the warship is under construction.
It said the operation would be under way from 5.30am to 4pm on Monday and would involve five platforms, three tugboats and two salvage ships.
Naval experts said the arrangements suggested that the Jiangnan shipyard was preparing to launch the new aircraft carrier.
“The latest satellite imagery shows the Type 003 had been blocked by a huge ship segment – this was done so that passing commercial ships couldn’t see the construction progress,” said Lu Li-shih, a former instructor at the Taiwanese Naval Academy.
“That segment will have to be moved so that they can launch the Type 003 by sliding it into the water.”
He added that the launch would mean the construction work in the dry dock had been completed and it would next go through tests and equipment installation based on sea trials.
A military insider familiar with China’s aircraft carrier projects said the launch would take place on the Dragon Boat Festival – confirming speculation on social media.
“The aircraft carrier needs to go into sea trials as soon as possible – it may take several years to achieve initial operational capability,” said the insider, referring to the basic requirements for a warship to be deployed.
There were expectations the aircraft carrier would be launched on April 23 to mark the 73rd anniversary of PLA Navy, but the plan was delayed because of Covid-19 pandemic in Shanghai.
Beijing-based naval expert Li Jie said this Friday would be a “good day for the birth of the ‘third child’”, using the warship’s nickname on Chinese social media.
“It implies the vessel is the country’s dragon boat – a good blessing,” he said.
Li added that “time is precious” for the aircraft carrier. “The installation of all of the weapon systems and the activation of its propulsion system will only start after the hull is proven to have no leaks once it goes into the water.”
The military insider said the shipyard had been scrambling to catch up after Covid-19 restrictions in Shanghai, with nearly 4,000 people back at work on the aircraft carrier since late April.
That was well before the city is due to return to work on Wednesday after a coronavirus outbreak prompted more than two months of strict curbs and lockdowns.
“The shipyard was able to resume work earlier because its operations are under a closed-off management system,” the person said. “None of the workers have been allowed to go out.”
All employees were required to show negative PCR test results for at least the previous week before they returned to work, according to earlier reports.
The new aircraft carrier has a flat-top flight deck equipped with three electromagnetic catapults, similar to the world’s most advanced aircraft launch systems. It is expected to be named the Jiangsu, in line with the protocol of naming the vessels after coastal provinces from north to south.