Early premarket gappers
- Gapping up:
- AMPE +33.3%, FUSN +18%, RAPT +7.4%, LEU +6.7%, BDSX +5.9%, CLLS +3.8%, RC +3.2%, NVAX +2.8%, SAVE +2.5%, BRP +2.5%, POLY +1.1%, MSTR +0.9%, TROW +0.7%, RIG +0.7%, BSY +0.6%, HEAR +0.5%, DFS +0.5%, FAF +0.5%
- Gapping down:
- PDSB -20.7%, PING -7%, PTGX -6.2%, VRM -5.1%, ARE -4.8%, EARN -3.8%, CCCC -3.5%, ABR -3.1%, NEP -2.5%, FCX -2.4%, EQNR -1.7%, BIIB -1.1%, WRE -0.9%
>>> Up
* Air Liquide Raised to Buy at HSBC; PT 166 euros
* Dufry Raised to Outperform at Oddo BHF; PT 80 Swiss francs~
* Future PLC PT Raised to 3,321 pence at Deutsche Bank
* H&M Raised to Buy at DNB Markets; PT 250 kronor (+)
* InPost Raised to Buy at HSBC; PT 21 euros
* Mediaset Espana Raised to Neutral at Exane; PT 5.70 euros (+)
>>> Down
* Anglo American Cut to Sector Perform at RBC; PT 3,400 pence
* Boskalis Cut to Accumulate at KBC Securities; PT 30.50 euros (+)
* Castellum Cut to Sell at Handelsbanken; PT 215 kronor
* CCC Cut to Hold at HSBC; PT 125 zloty
* Fastighets AB Trianon Cut to Hold at Handelsbanken
* John Laing Group Cut to Hold at HSBC; PT 403 pence
* K2a Knaust & Andersson Fastigheter Cut to Hold at ABG
* Kungsleden Cut to Hold at Handelsbanken; PT 120 kronor
* Pagegroup Cut to Underweight at Morgan Stanley; PT 545 pence
* Pandox Cut to Hold at Handelsbanken; PT 180 kronor
* Platzer Cut to Hold at Handelsbanken; PT 140 kronor
>>> Initiation
* Adler Group Rated New Overweight at JPMorgan; PT 32 euros
* ITM Power Rated New Sector Perform at RBC; PT 310 pence
* Nel Rated New Outperform at RBC; PT 27 kroner
* TCS Group GDRs Reinstated Buy at Goldman; PT $94
>>> Call
* Anglo American Ripe for Some Profit-Taking, RBC Cuts Rating
* Ashtead’s Ongoing Positive Momentum Is Fully Valued, Says RBC (+)
* Boohoo’s 1Q Revenue Beat Shows Strong Start to Year: Jefferies (+)
* ConocoPhillips, EOG Among Potential Shell Permian Buyers: RBC
* Equinor’s Measured Approach to Make Co. a Transition Winner: RBC (+)
* Glaxo Needs to Provide Confidence on Pipeline, Analysts Say
* H&M’s Current Trading Is Encouraging, Morgan Stanley Says (+)
* Kesko Outlook Upgrade to Prompt Higher Ests., Handelsbanken Says (+)
* Nel Preferred to ITM Power in Green Hydrogen Space, RBC Says (+)
* Pagegroup Cut at Morgan Stanley on Valuation After Outperforming
* Valuations of Some Swedish Real Estate Stocks Now a Risk: SHB
Nato warns China’s military ambitions threaten global order
Beijing calls alliance communique ‘slander’ and ‘a misjudgement of the international situation’
Nato leaders have warned that China poses “systemic challenges” to the rules-based international order in a sign of growing western unease over Beijing’s military ambitions.
Members of the transatlantic alliance convening in Brussels on Monday cited disinformation, Chinese military co-operation with Russia and the rapid expansion of Beijing’s nuclear arsenal as part of the threat, according to a Nato communiqué.
The strength of the statement showed how far relations between the west and Beijing have deteriorated in the 18 months since Nato countries last met. Then, the transatlantic alliance had issued a cautious statement about the “opportunities and challenges” presented by China.
On Tuesday, China’s mission to the EU called the Nato statement “slander of China’s peaceful development and a misjudgement of the international situation and their own role”.
It added: “We will not present a ‘systemic challenge’ to anyone, but if someone wants to pose a ‘systemic challenge’ to us, we will not remain indifferent.”
The communiqué from the 72-year-old cold war-era military pact followed a stronger line from the weekend’s G7 meeting, when the club of rich democracies criticised China over human rights, trade and a lack of transparency regarding the origins of the coronavirus pandemic.
Jens Stoltenberg, Nato secretary-general, insisted Beijing was “not an adversary” but said the alliance needed to “engage with China to defend our security interests”.
“There is a strong convergence of views among allies,” he said, adding that Nato was primarily concerned about Beijing’s activities in the group’s Euro-Atlantic sphere of operation. “China’s growing influence and international policies present challenges to alliance security.”
President Joe Biden said that Russia and China were both seeking to drive a wedge into transatlantic solidarity.
“The last time Nato put together a strategic plan was back in 2010, when Russia was considered a partner, and China wasn’t even mentioned,” the US president said.
Biden, who will meet Vladimir Putin this week in Geneva, described the Russian president as “bright”, “tough” and a “worthy adversary”.
“I am going to make clear to President Putin that there are areas where we can co-operate if he chooses,” said Biden. “And if he chooses not to co-operate and acts in a way that he has in the past relative to cyber security and some other activities, then we will respond. We will respond in kind.”
The Nato statement, approved by the leaders of the 30 member states, said China’s “stated ambitions and assertive behaviour” posed “systemic challenges to the rules-based international order and to areas relevant to alliance security”.
“We call on China to uphold its international commitments and to act responsibly in the international system, including in the space, cyber and maritime domains, in keeping with its role as a major power.”
The communiqué pointed to China’s “coercive policies”, its accumulation of nuclear warheads and sophisticated delivery systems and its participation in Russian military exercises in Atlantic waters. Another trend troubling Nato allies was the involvement of Chinese companies in critical infrastructure in Europe, such as in ports and via telecommunications company Huawei.
Nato said it would aim for “constructive dialogue” with Beijing “where possible”, including on climate change, a sign of the more nuanced views held by some of the alliance’s members.
The Nato broadside reflected an attempt by the Biden administration to use the president’s first European trip to mobilise allies against China.
The Nato leaders also pressed ahead with efforts to modernise the grouping, originally set up as a bulwark to the Soviet Union. Nato will pull back from an era of “expeditionary” international missions, with its forces preparing to leave Afghanistan along with US troops after almost two decades.
The Nato heads of state and government approved a cyber defence strategy and extended powers to invoke the alliance’s Article 5 principle of collective defence in cases of co-ordinated cyber attacks.
Nato leaders also pushed through measures to strengthen the response to attacks on satellites and to build capabilities in emerging technologies such as artificial intelligence. Members of the alliance have become increasingly preoccupied with potential military uses of AI and with the activities of China and Russia in space.
DAX:
- Continental (CON TH) +1.1%
- Siemens Energy (ENR TH) +0.9%
- VW (VOW3 TH) +0.7%
- RWE (RWE TH) +0.6%
- Infineon (IFX TH) +0.4%
- Daimler (DAI TH) +0.3%
MDAX:
- Nordex (NDX1 TH) +2.8%
- Nordex, Acciona Energia Poised for 1GW Australia Wind Farm Order
- Fraport (FRA TH) +1.9%
- EU Set to Lift Travel Curbs for U.S. Residents This Week
- Evotec SE (EVT TH) +1.5%
- Lufthansa (LHA TH) +1.4%
- Lufthansa Sets Fresh Margin Target as Air Travel Starts Up Again
- Telefonica Deutschland (O2D TH) +1%
- Thyssenkrupp (TKA TH) +0.5%
SDAX:
- LPKF (LPK TH) +3%
- Adler Group (ADJ TH) +1.6%
- Adler Group Rated New Overweight at JPMorgan; PT 32 euros
- Corestate (CCAP TH) +1.2%
- Vivion’s Bonds Boosted by Sale of Landmark Development in Berlin
- Leoni (LEO TH) +1%
- DWS (DWS TH) +0.6%
- ADVA Optical (ADV TH) +0.5%