WWD : Gucci Hires Another Automotive Executive as Senior VP of Marketing

Gucci Hires Another Automotive Executive as Senior VP of Marketing
Giovanni Perosino joins Gucci from Maserati and his appointment is effective Dec. 15.

GUCCI HIRE: Kering continues to cast its net into the automotive industry.

Gucci is naming Giovanni Perosino senior vice president marketing. The appointment is effective Dec. 15.

Perosino joins Gucci from Maserati, where he has been global chief marketing officer. He has more than 25 years of experience in brand strategy, marketing and communications and has held throughout his career senior leadership roles at Fiat Chrysler Automobiles, Audi, Lamborghini and ITA Airways.

Perosino will report to the newly appointed chief client, marketing and commercial officer Dario Gargiulo, and will lead Gucci’s global marketing and communications teams.

As reported, Gianluca De Ficchy was named Gucci’s chief financial officer, reporting to Francesca Bellettini, president and chief executive officer of Gucci. He succeeds Alberto Valente, whose title was chief financial, data and operations officer, and who worked at Gucci for 17 years.

Like Luca de Meo, who took on the role of CEO of parent company Kering on Sept. 15, De Ficchy joins Gucci from the automotive industry. He was most recently CEO of Mobilize within the Renault Group and was chairman of the board of directors of RCI Banque SA. He began his career at Ernst & Young, then joined RCI Bank and Services and advanced through several key roles at FCA and Nissan.

As reported, de Meo spent five years leading Renault and boasts a total of 30 years in the automobile industry at brands including Fiat, Alfa Romeo, Toyota, Volkswagen and Seat.

The recent appointments come as Valérie Leberichel has exited Gucci, which she joined at the end of December last year as senior vice president of global communications. She was recruited by and reported to then-CEO Stefano Cantino.

As Gargiulo arrived, Maria Cristina Lomanto, Gucci’s president of Europe, the Middle East and Africa since May, left the company. Chief commercial officer Cayetano Fabry succeeded Lomanto as head of the EMEA region.

Gucci is in the midst of a turnaround under Bellettini and artistic director Demna.

>>> Europe : Brokers Upgrades & Downgrades - 4th of December 2025

>>> Up
* Alfa Laval Raised to Neutral at JPMorgan; PT 509 kronor
* Atlas Copco Raised to Overweight at Barclays; PT 178 kronor
* BCP Raised to Buy at Goldman; PT 96 euro cents
* Bodycote Raised to Overweight at Barclays; PT 765 pence
* Commerzbank Raised to Neutral at Goldman; PT 35.50 euros
* Carlsberg Raised to Buy at UBS
* Gecina Raised to Buy at Goldman; PT 95.40 euros
* Inditex Raised to Neutral at Mediobanca SpA; PT 50 euros
* Mitie Rated New Outperform at RBC; PT 195 pence
* Schneider Electric Raised to Overweight at JPMorgan
* SocGen Raised to Buy at Goldman; PT 72.75 euros
* Softcat Raised to Overweight at JPMorgan; PT 1,950 pence
* YouGov Raised to Overweight at JPMorgan; PT 385 pence

>>> Down
* Aegon Cut to Neutral at UBS
* DNB Bank Cut to Neutral at Goldman; PT 290 kroner
* Grand City Properties Cut to Neutral at Goldman; PT 11.50 euros
* Great Portland Cut to Neutral at Goldman; PT 340 pence
* NatWest Cut to Neutral at Goldman; PT 685 pence
* Siemens Healthineers Cut to Hold at Deutsche Bank; PT 46 euros
* Swedbank Cut to Sell at Goldman; PT 282 kronor

>>> Initiation
* Capgemini Re-Initiated Neutral at JPMorgan
* Gecina Reinstated Buy at ING; PT 97 euros
* New Wave Rated New Buy at SB1 Markets; PT 135 kronor

>>> Call
*

>>> What to look at today - 4th of December 2025

Japanese assets took the spotlight in Asia on Thursday. The nation’s shares led regional gains after US data boosted odds of a Federal Reserve interest-rate cut next week, while a sale of its 30-year government bonds drew the strongest demand since 2019. The Topix and Nikkei 225 rose more than 1.7% each versus a gain of 0.5% for MSCI Inc.’s broader gauge of Asian equities. Indexes in South Korea and Taiwan snapped a two-day advance. US stock futures were steady after the S&P 500 climbed 0.3% overnight, while Bitcoin hovered near $93,500 after a two-day rally.  Data on Wednesday showed US companies shed payrolls in November by the most since early 2023, reinforcing concerns about a more pronounced labor market weakening. Swaps pricing indicated rising expectations for a December cut Wednesday, with traders assigning more than a 90% chance to a 25-basis-point reduction. Yields on Japanese debt have surged as bets intensified for a rate hike at the Dec. 19 BOJ policy decision. Thirty-year bonds gained following the auction result, which came after a sale of 10-year notes earlier in the week also drew firm demand. The 30-year yield had earlier risen to 3.445%, the highest since the tenor debuted in 1999, while the benchmark 10-year rate reached the highest since 2007. Meanwhile in Australia, bond yields rose to the highest level this year amid growing speculation the central bank will switch back to raising rates to curb inflation. In currency markets, a gauge of the dollar rose 0.1% after dropping 0.4% in the previous session, when US treasuries rose across the curve, pushing two-year yields down to around 3.48%. The Indian rupee fell to a record low against the dollar as sentiment remains weak amid delays in securing a trade deal with the US. eparately, China set its daily reference rate for the yuan at a level that was significantly weaker than estimates, suggesting the central bank is aiming to limit gains in the managed currency which is inching close to a keenly watched level of 7 per dollar. While moves in Asian equities this week have been small, the regional MSCI gauge is on course for a third straight session of gains. It jumped 2.7% last week, the most since early October. In commodities, silver fell but continued to trade near an all-time high on the reinforced bets of a Fed cut. Gold edged lower. Oil held a modest gain as investors weighed the outlook for a ceasefire in Ukraine and the fallout from tensions between the US and Venezuela. Trade and geopolitics were also on investors’ radar. Commerce Secretary Howard Lutnick said that the US is expecting a large investment pledge from Taiwan in trade talks. Separately, Nvidia Corp.’s Jensen Huang said he’s unsure whether China would accept the firm’s H200 artificial intelligence chips should the US relax restrictions on sales of the processors, following a meeting Wednesday with President Donald Trump. Notably, gains for American equity benchmarks came despite weakness in most megacaps. Shares in Salesforce Inc. rose in post-market trading after the company delivered an outlook for revenue in the current period that topped analysts’ estimates.
Despite the apparent confidence among investors, US policymakers have been torn as to whether they’ll cut rates for a third straight meeting as they attempt to balance the slowdown in the job market with still-elevated inflation. Data on Wednesday showed US services activity expanded at a slightly faster pace, while a measure of prices paid dropped to a seven-month low Before their final policy meeting of the year, Fed officials will get a dated reading on their preferred inflation gauge. On Friday, the September income and spending report is due to be released — long delayed because of the government shutdown.
The figures will include the personal consumption expenditures price index and a core measure that excludes food and energy. Economists project a third straight 0.2% increase in the core index. That would keep the year-over-year figure hovering just below 3%, a sign that inflationary pressures are stable, yet sticky. US After Hours PATH +8.9%, NCNO +5.8%, CRM +2.2%, FIVE +1.2% higher on earnings; SNOW -2.4%, PVH -2.4%, AI -1.9% lower on earnings.


Nikkei +2.01% Hang Seng +0.14% CSI +0.12% Shanghai -0.15% Shenzen -0.18%

Eur$ CNH CNY JPY GBP CHF RUB TRY WTI$ Gold BTC ETH

S&P -0.01% Nasdaq -0.10% EuroStoxx +0.54% FTSE +0.33% Dax +0.48% SMI


Macro :
- French Government to Review Financial Support of Renewables
- SpaceX Backer, Vying to Run NASA, Downplays Ties With Musk
- Sam Altman Has Explored Deal to Build Competitor to Elon Musk's SpaceX -- WSJ
- Merz in Danger With Business Warning Germany Is in ‘Free Fall’
- Europe’s Biotech Standout Faces Crucial Year After 1,300% Rally

Keep an eye on :
- ABBN SW : ABB Takes Minority Stake in OctaiPipe; No Terms Disclosed
- ACE IM : Plenitude to Buy Acea Energia in Deal Worth Up To €587m
- NDA GY : Aurubis FY Dividend per Share Beats Estimates
- BLAND LN : British Land to Join, WPP to Leave FTSE 100 Index
- CIE SM : Mahindra Taps BNP, JPMorgan to Sell 3.6% of Cie Automotive
- EPIC SW : Epic Suisse Offers Shares at CHF80 Each: Terms
- ERA FP : Eramet Starts Performance Improvement Program
- GLEN LN : Glencore Would Seek Equal Stake in Chile Mine Deal With Anglo
- GLEN LN : Glencore Tapped by Codelco to Design New Chile Copper Smelter
- GTT FP : GTT Gets Order From HD KSOE for Tank Design of Two LNG Carriers
- IFCN SW : Inficon Names Dimitrij Lisak as new CFO Starting July 2026
- INTRUM SS : Intrum Buys Back €112.5m of Bonds in Tender Offer
- LEON SW : Leonteq Sees Low Double-Digit Million Underlying Loss for 2025
- MC FP : LVMH, Arnault Deny Diverting or Owning “Hidden” Hermes Shares
- MediaOn IPO : MediaOn to Offer 2m Shares, Holders to Offer 1.9m Shares in IPO
- META US : EU to launch antitrust probe into Meta over use of AI in WhatsApp
- NOVOB DC : Novo Nordisk to Launch Ozempic in India in December: Reuters
- NOVOB DC : Novo Not Ready to Quit Alzheimer’s After Ozempic Pill Setback
- NOVB DC : Denmark Probes if Novo Can Pay for Eye-Disease Compensation: DR
- 1913 HK : Prada : -3.5%
- PMU GY : Goldman Sachs Group, Inc. Raised Puma Voting Rights to 5.16%
- RIO LN : Rio Tinto Sees FY Copper Production 860,000 to 875,000 Tons, Rio Tinto Seeks to Release $5b-$10b From Existing Asset Base
- SKAB SS : Skanska Gets $263m Contract to Build Data Center in US
- SLPB SS : SLP Explores Conditions for Directed Issue of 20M B Shares
- STLA IM : Stellantis, Michelin, Forvia Agree on Hydrogen JV Restructure
- TECN SW : Tecan Says Gillner to Succeed Braunschweiler as Board Chairman
- TEF SM : America Movil Says It Will Seek Telefonica Chile Bid Alone
- UCB BB : UCB to Present Positive Data on Fenfluramine in CDD at AES 2025
- VER AV : Verbund to Propose Special Dividend of €1.15/Share for 2025
- WPP LN : British Land to Join, WPP to Leave FTSE 100 Index

>>> TradeGate Pre-Market Indications

DAX:
  • Siemens Energy (ENR TH) +2.6%
    • Capital Goods Set-Up Seen Attractive in 2026, JPMorgan Says
  • Commerzbank (CBK TH) +1.9%
    • Commerzbank Raised to Neutral at Goldman; PT 35.50 euros
  • Infineon (IFX TH) +1.7%
  • SAP (SAP TH) +1.4%
    • NOTE: Salesforce Gains on Forecast, AI Adoption Trends: Street Wrap
  • Rheinmetall (RHM TH) +1.2%
  • Siemens Healthineers (SHL TH) -0.9%
    • Siemens Healthineers Cut to Hold at Deutsche Bank; PT 46 euros
MDAX:
  • Aixtron (AIXA TH) +1.3%
  • Aurubis (NDA TH) -3.5%
    • Aurubis FY Dividend per Share Beats Estimates
SDAX:
  • Formycon (FYB TH) +6.7%
    • EQS-News: Formycon and MS Pharma sign exclusive commercialization
  • Grand City Properties (GYC TH) -1.9%
    • Grand City Properties Cut to Neutral at Goldman; PT 11.50 eu

>>> Stoxx 600 Pre-Market Indications

  • STMicro (SGM TH) +3.1%
    • Cambricon Aims to Triple Chip Output to Replace Nvidia in China
  • Schneider Electric (SND TH) +2.5%
    • Capital Goods Set-Up Seen Attractive in 2026, JPMorgan Says
  • Siemens Energy (ENR TH) +2.5%
    • Capital Goods Set-Up Seen Attractive in 2026, JPMorgan Says
  • Commerzbank (CBK TH) +1.9%
    • Commerzbank Raised to Neutral at Goldman; PT 35.50 euros
  • Infineon (IFX TH) +1.7%
  • Konecranes (K34 TH) +1.6%
  • Atlas Copco (ACO4 TH) +1.6%
  • Verbund (OEWA TH) +1.6%
  • Rio Tinto (RIO1 TH) +1.5%
    • Rio Tinto’s New Boss Lays Out Cost Cuts in Strategy Overhaul
  • Nokia (NOA3 TH) +1.4%
    • Nokia to Roll Out Network-as-code Platform Across Bharti Airtel’s Network
  • Siemens Healthineers (SHL TH) -1.2%
    • Siemens Healthineers Cut to Hold at Deutsche Bank; PT 46 euros
  • Bankinter (BAKA TH) -1.6%
  • Fresnillo (FNL TH) -1.7%
  • Aurubis (NDA TH) -3.4%
    • Aurubis FY Dividend per Share Beats Estimates

>>> US After Hours Summary: PATH +8.9%, NCNO +5.8%, CRM +2.2%, FIVE +1.2% higher

After Hours Summary: PATH +8.9%, NCNO +5.8%, CRM +2.2%, FIVE +1.2% higher on earnings; SNOW -2.4%, PVH -2.4%, AI -1.9% lower on earnings

After Hours Gainers:

Companies trading higher in after hours in reaction to earnings/guidance: PATH +8.9%, NCNO +5.8%, GWRE +4.7%, DSGX +4.7% (also names new CFO; also files intention to commence an NCIB), CRM +2.2%, HQY +2.2%, FIVE +1.2%

Companies trading higher in after hours in reaction to news: APLS +3.3% (phase 3 VALIANT results of EMPAVELI), OWL +2.9% (discloses several insider purchases), BEN +1.3% (reports November AUM), CRGY +1.1% (sale of DJ Basin assets), MDT +0.8% (fda clears Hugo robotic-assisted surgery system), COHR +0.4% (next-gen 300mm SiC platform), SKWD +0.4% (secures approval of Apollo Group Holdings acquisition; also provides guidance), CALM +0.4% (capacity expansion project), CMCSA +0.2% (board approves separation of Versant Media Group)

After Hours Losers:

Companies trading lower in after hours in reaction to earnings/guidance: CURV -15.3%, MEI -6.9%, SNOW -6.2% (also $200 mln partnership with Anthropic; also expanded collaboration with Accenture), PVH -2.4%, AI -1.9%, ALK -1.6% (guidance)

Companies trading lower in after hours in reaction to news: SYM -12.7% (mixed shelf offering; also stock offering by selling shareholders), FSLY -4.4% (convertible notes offering), MDU -2.4% (stock offering), COST -1.1% (November comps), SOC -0.6% (stock offering by selling shareholders), GCT -0.1% (share repurchase agreement to acquire New Classic Home Furnishings)

FT : Emmanuel Macron warns of ‘disintegration’ risk to world order in Xi Jinping

Emmanuel Macron warns of ‘disintegration’ risk to world order in Xi Jinping meeting
Two leaders stress need for multilateralism amid rising trade tensions


France’s President Emmanuel Macron has warned of the risk of the “disintegration of the international order” as he met Xi Jinping in Beijing amid growing trade tensions between China and Europe.

“We are facing the risk of the disintegration of the international order that brought peace to the world for decades. In this context, dialogue between China and France is more essential than ever,” Macron said on Thursday after talks with the Chinese leader.

“We have many ways of convergence,” he added. “We sometimes have disagreements, but we have the responsibility to know how to overcome them . . . for an effective multilateralism in which we believe.”

Xi earlier called on Macron to “hold high the banner of multilateralism” and prevent others from interfering in their countries’ relationship, in remarks ahead of the bilateral talks.

The Chinese president’s comments at the Great Hall of the People were a veiled reference to charges that European policy towards China is being influenced by a hawkish US administration under President Donald Trump.

“China is willing to work with France to always proceed from the fundamental interests of the two peoples and the long-term interests of the international community and eliminate all kinds of interference,” Xi told Macron

Macron’s visit to China is his fourth since he became president in 2017, and comes as he is set to take over the G7 presidency in 2026, when addressing global economic imbalances will be at the top of his agenda.

Tensions have been growing between Beijing and its European partners over China’s soaring trade and investment imbalances and export-led growth.

China’s export controls on rare earths, whose production it dominates and which are vital to industries from automobiles to defence, are also an acute concern for European countries.

In comments later on Thursday, Xi said he and Macron had agreed to greater co-operation in industries such as aerospace, nuclear energy, biopharmaceuticals and artificial intelligence as well as other areas such as panda conservation and “global governance”.

Xi said China’s next five-year plan, which is due to be formally released in March, offered opportunities for French industry despite Beijing’s repeated emphasis on industrial self-reliance.

“China’s door to openness will only widen,” Xi said.

Xi also reiterated China’s position that it supported peace in Ukraine, but did not mention European demands that a ceasefire precede any peace talks. France has been keen to encourage China to act as a mediator in the Russia-Ukraine conflict, but has had little success.

The talks came as a judge in France is expected to rule this week on the government’s proposed three-month ban on China-founded fast fashion and ecommerce retailer Shein’s operations in the country, after illegal products were found on its marketplace.

China has also opened anti-dumping investigations into European products. While a probe into cognac exports has largely been resolved, others — notably on EU dairy products — are under way, with decisions on additional tariffs expected within the coming weeks, according to industry leaders.