>>> Up
* Brenntag Raised to Buy at Baader Helvea; PT 102 euros
* Exel Composites Raised to Buy at OP Corporate Bank
* Martin Marietta Raised to Overweight at JPMorgan; PT $410
* Rheinmetall Raised to Buy at M.M. Warburg; PT 240 euros (+)
* Springvest Raised to Reduce at Inderes; PT 6.70 euros
* Wacker Chemie Raised to Hold at SocGen; PT 173 euros (+)
>>> Down
* Harvia Cut to Accumulate at OP Corporate Bank; PT 47 euros
* Lions Gate Target Cut at Barrington in Spinoff Anticipation
* Micron Cut to Underweight at Piper Sandler; PT $70
>>> Initiation
* Greenvolt Rated New Neutral at Mediobanca SpA; PT 7.82 euros
* PGS Resumed Buy at Kepler Cheuvreux; PT 13 kroner (+)
>>> Call
- TUI (TUI1 TH) +3.4%
- Vestas (VWSB TH) +2%
- Adidas (ADS TH) +1.8%
- Leonardo (FMNB TH) +1.8%
- Brenntag (BNR TH) +1.7%
- Voestalpine (VAS TH) +1.7%
- Kingspan (KRX TH) -3.4%
US State Department struggles to get its fact sheet straight on Taiwan
- After triggering an angry response from Beijing, officials amend document on relations with Taipei for the second time in weeks
- Latest change restores a line making clear that Washington does not support independence for the island
The US State Department has again updated its fact sheet on its relations with Taiwan, restoring a line to say it does not support independence for the self-ruled island, which Beijing regards as its territory.
The department changed its US relations with Taiwan fact sheet on May 5, deleting a declaration in place since 2018 that it “does not support Taiwan independence”.
But the line was reinstated in a new version dated May 28, in a change first reported by the Taiwanese Central News Agency on Friday.
“We oppose any unilateral changes to the status quo from either side; we do not support Taiwan independence; and we expect cross-strait differences to be resolved by peaceful means,” the latest version says.
The earlier update – which also removed a section recognising the People’s Republic of China as the sole legal government of China – triggered an angry response from Beijing, which regards the island as a breakaway province to be returned, by force if necessary.
The Chinese foreign ministry accused the US of using a “petty trick” with the amendment, to hollow out the one-China principle.
The fact sheet changes follow confusing signals from Washington regarding its policies towards Taiwan, after US President Joe Biden answered “yes” to the question of whether the US would back up the island militarily if it was attacked from the mainland.
His remarks sparked concerns last month over whether Washington is still following its long-standing policy of strategic ambiguity, which is deliberately unclear about US intentions in the event of a PLA attack on Taiwan.
Biden and other US officials later appeared to walk back the comment, saying US policy on Taiwan had not changed.
US State Department spokesman Ned Price said in May that the US does not support Taiwan independence and “we have repeatedly made this clear both in public and in private”.
US President Joe Biden says US military will defend Taiwan if attacked
Analysts said Beijing and Taipei should not read too much into Biden’s remarks. In their assessment, Washington does not want to see a cross-strait conflict.
Ties between Washington and Taipei have become closer in recent years – to the dismay of Beijing which fiercely opposes other countries forming official relations with the island.
On Wednesday, the US launched an economic cooperation initiative with Taipei, which Beijing denounced as a move that would endanger China-US relations.
US Secretary of Defence Lloyd Austin told Nikkei Asia in a written interview published on Wednesday that “the United States will make available to Taiwan defence articles and services necessary to enable it to maintain a sufficient self-defence capability commensurate with the Chinese threat”.
Chinese foreign ministry spokesman Zhao Lijian told reporters on Thursday that Beijing had always firmly opposed US arms sales to Taiwan, “which seriously infringe on China’s sovereignty and territorial integrity and seriously interfere in China’s internal affairs”.
DAX:
- Adidas (ADS TH) +1.8%
- Puma (PUM TH) +1.7%
- Daimler Truck (DTG TH) +1.6%
- Brenntag (BNR TH) +1.3%
- Brenntag Raised to Buy at Baader Helvea; PT 102 euros
- Delivery Hero (DHER TH) +1.2%
- Deutsche Bank (DBK TH) +0.5%
MDAX:
- Aroundtown (AT1 TH) +1.5%
- Wacker Chemie (WCH TH) +1.1%
- Wacker Chemie Raised to Hold at SocGen; PT 173 euros
- ProSieben (PSM TH) +1.1%
- Aurubis (NDA TH) +1.1%
- Watch Copper Stocks as Metal Surges on China Reopening Optimism
- Lanxess (LXS TH) +1%
SDAX:
- Deutz (DEZ TH) +2%
- VERBIO Vereinigte (VBK TH) +1.6%
- About You (YOU TH) +1.1%
- flatexDEGIRO (FTK TH) +0.8%
- Suedzucker (SZU TH) +0.8%
Fendi Inks Two-Year Deal with Italian Football Club AS Roma
Fendi will provide an official collection for Roma’s first-team players for the 2022-23 and 2023-24 seasons.
The LVMH-owned label will provide an official wardrobe for Roma’s first-team players for the 2022-23 and 2023-24 seasons, according to a statement by the Italian football club on Wednesday.
Silvia Venturini Fendi, the brand’s artistic director of accessories and menswear, designed a range of formal and casual looks for the players to wear as the team travels to compete in both Italian and European competitions.
The looks will be revealed in August ahead of the next season of Serie A, Italy’s top football league.
Fendi has leaned into its Roman heritage more extensively in recent years, adding ‘Roma’ to its logo and staging shows at the Trevi Fountain and Colosseum.
”This unprecedented partnership between Fendi and AS Roma originated from the common values and origins we share, celebrating the city of Rome and two firms that were founded here, one shortly after the other,” said Serge Brunschwig, chief executive of the Italian fashion house since 2018.
>>> Up
* Brenntag Raised to Buy at Baader Helvea; PT 102 euros
* Exel Composites Raised to Buy at OP Corporate Bank
* Martin Marietta Raised to Overweight at JPMorgan; PT $410
* Springvest Raised to Reduce at Inderes; PT 6.70 euros
>>> Down
* Harvia Cut to Accumulate at OP Corporate Bank; PT 47 euros
* Lions Gate Target Cut at Barrington in Spinoff Anticipation
* Micron Cut to Underweight at Piper Sandler; PT $70
>>> Initiation
>>> Call
Asian shares followed their US peers higher Friday ahead of a key jobs report as traders weighed the outlook for inflation and growth. Stocks rose in Japan, Korea and Australia while US futures fluctuated. On Thursday, the S&P 500 rose 1.8%, led by gains in consumer discretionary shares, while the tech-heavy Nasdaq 100 added 2.8%. ,,,,Markets are shut in Hong Kong and China, where officials have vowed to carry out a slew of government policies to stimulate the economy. The offshore yuan rose amid thin trading in Asia. A Bloomberg gauge of the dollar steadied after overnight losses, while the yen held near the psychologically important 130 level against the greenback. Benchmark Treasury yields edged up to 2.92%. Investors remain on edge as some fear the pace of US monetary tightening could throw the world’s largest economy into a recession. Friday’s May labor report is likely to show the smallest gain in jobs since April 2021 alongside a down shift in average hourly earnings growth, Bloomberg Economics said. Federal Reserve Vice Chair Lael Brainard said it was hard to see a case for a September pause in rate hikes and that increases of 50 basis points in June and July seemed reasonable. OPEC+ agreed to increase the size of its oil-supply hikes by about 50% in July and August, bending to pressure by major consumers including the US to fill the gap created by sanctions on Russian supplies. Yet oil headed for a sixth weekly gain and remains an important driver of inflationary pressures. US After Hours STNE +21.3%, OKTA +16.5%, LULU +1.7%, RH +1.2% higher on earnings; JOAN -15.4%, ZUMZ -8.6%, CRWD -2.5% lower on earnings
Nikkei +1,19% Hang Seng -1% CSI +0,16% Shanghai +0,42% Shenzen +0,69%
Eur$ 1,0749 CNH 6,6296 CNY 6,6603 JPY 129,85 GBP 1,2586 CHF 0,9580 RUB 62,7203 TRY 16,4859 WTI$ 116,30 Gold 1867,71 BTC 30,466 +5% ETH 1823
S&P +0,10% Nasdaq +0,07% EuroStoxx +0,76% FTSE Closed Dax +0,88% SMI
Macro :
- Tiger Global’s 52% Plunge Prompts Fee Cut, Redemption Plan
- Ifo Warns Against Windfall Tax for Oil Companies: Rheinische
- Citi’s Fat-Finger Trade Seen Costing Bank More Than $50 Million
- Len Blavatnik Severs His $37 Billion Fortune From Russian Roots
- Fed’s Brainard Says Case for September Rate Pause Is ‘Very Hard’
- Oil Set for Sixth Weekly Gain as OPEC+ Supply Boost Disappoints
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- STR AV : Strabag’s Zueblin Unit Gets EU280M Order for Tunnels in Chile
- TEN IM : Tenaris to Pay $78m to Resolve Corruption Charges
- TSLA US : Tesla’s Stock Slide Has Korean Day Traders Boosting Purchases
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