WWD : The Luxury Industry Is Turning to Pop-up Stores to Win Over Chinese Millen

The Luxury Industry Is Turning to Pop-up Stores to Win Over Chinese Millennials
Franklin Chu discusses luxury retail experiences that are thriving among young shoppers.

While Western consumers remain reluctant to shop in stores this year, pop-up experiences are thriving in the biggest retail market in the world.
Global luxury brands such as Gucci, Burberry, Fendi and Bottega Veneta are all using pop-up stores to launch new concepts and show off their omnichannel capabilities in the China market.
We take a look at some examples and observe why such pop-up stores are crucial to reach increasingly affluent Chinese Millennials — and why U.S. and foreign luxury brands need a China strategy to fuel growth during this decade.
Fendi x Mr. Doodle for Chinese Valentines Day
For Chinese Valentine’s Day this year (aka Qixi Festival, held on Aug. 25), Fendi launched pop-up stores in Beijing and Chengdu to celebrate its newest capsule collection, in partnership with Mr. Doodle. Also known as Sam Cox, Mr. Doodle is a British artist who is well-known for his doodles drawn with thick black markers.


Along with these pop-up stores, Fendi also set up mini-cafés with tables and plates adorned with his graffiti.
Fendi’s new mini-cafés entice luxury consumers to linger longer. Courtesy of Fendi
Lastly, customers could also purchase items from the capsule collection through Fendi’s official WeChat mini-program store. China’s pervasive social media platform, WeChat, has become increasingly popular in recent years as a channel to launch limited-edition item collections, predominantly because of its wide reach and designation as a go-to platform for popular influencers in China.


Dior’s Dioramour Stores + WeChat Social Sharing Program
For the upcoming Chinese Valentine’s Day (Qixi Festival), Dior also launched pop-up stores in Chengdu, Beijing and Shenzhen to celebrate its new love-themed Dioramour capsule collection. Angelababy, a highly sought-after actress and Dior’s main brand spokesperson in China, attended the opening ceremony in early August. Other celebrities who attended were brand ambassadors Liying Zhao and Jing Tian, both of whom are actresses.
Dior’s pop-up shop and influencers celebrate love in time for the Qixi Festival. Courtesy of Dior
Dior’s WeChat mini-program recommends different items to people, and each item comes with a video introduction from Angelababy herself. What’s more is that the mini-program incorporates a social element, inviting fans to share the items on WeChat with hashtags. The comprehensive collection includes everything from handbags to shoes, scarves, glasses and jewelry.
Personalized recommendations and influencer videos greet Dior shoppers on WeChat. Courtesy of Dior
Burberry’s AR-Powered Animal Kingdom Pop-up Stores
From June 16 to 29, Burberry set up Animal Kingdom-themed pop-up stores in Shanghai, Shenyang and Nanjing. The stores were designed to show off its newest spring 2020 collection, which included elements of wild animals imprinted onto its products. The stores hosted lime-green statues of giraffes, monkeys, gorillas and birds to reflect the occasion.
Burberry delighted shoppers with its unique Animal Kingdom-themed pop-up and AR tech. Courtesy of Burberry
But what’s intriguing is that the pop-up stores were equipped with augmented reality technology; visitors could scan items in the store and moving images of birds flying around would show up on their smartphone screens. Such an innovative feature helps companies to stand out among the competition; more and more brands are turning to technology to provide a unique experience for their customers.
Bottega Veneta’s ‘Invisible Store’


On July 3, Bottega Veneta unveiled its “Invisible Store” in Shanghai’s ritzy Plaza 66 mall, which is known to house stores from all the major luxury brands. The pop-up store was designed to launch the brand’s pre-fall 2020 collection, which consisted of small leather goods, shoes and eyewear for both men and women.
Bottega Veneta’s invisible pop-up store intrigued and impressed consumers. Courtesy of Bottega Veneta
The exterior of the store was lined with mirrored panels so shoppers couldn’t see what’s inside until they entered. From a distance, the store even looked as if it couldn’t be seen. At the launch party on July 3, celebrities in attendance included actors Yu Fei-hung, Jing Boran and Joey Song.
Lastly, customers could reserve VIP appointments at the store on Bottega Veneta’s WeChat mini-program. VIP booking functions have become standard in the luxury industry as brands look to provide the best and most personalized service for their customers.
Key Takeaways
1. Luxury brands in China are launching experiential, omnichannel pop-up stores to cater to tech-savvy Millennials. WeChat has been key, as its mini-programs enable brands to adopt features such as AR scanning technology, off-line appointment booking and social sharing incentives.
2. Fendi and Dior both launched pop-up stores in anticipation of Chinese Valentine’s Day, Qixi Festival, which takes place on Aug. 25. Fendi’s collection was a partnership with British artist Mr. Doodle, while Dior’s collection was love-themed and included recommendation features on its official WeChat mini-program.
3. While Burberry launched an Animal Kingdom-themed pop-up store with AR technology to wow visitors, Bottega Veneta launched a mysterious “invisible store” that looked barely visible to the naked eye.

FT : Frasers to invest in luxury retail as it expects profits to rise 30%

Frasers to invest in luxury retail as it expects profits to rise 30%
Sports Direct owner says group pre-tax profit before exceptional items fell 20% last year

Frasers Group, the owner of Sports Direct, has forecast that underlying profits would rise by up to 30 per cent in the current financial year as it planned to invest more than £100m in technology to support its move upmarket.

The investment will focus on Flannels, its luxury fashion chain, the retail conglomerate controlled by Mike Ashley said in a results statement that was delayed by a week to allow audit work to be completed. The group, until recently known as Sports Direct, provided few other details and made no comment on current trading.

Group pre-tax profit before exceptional items fell 20 per cent to £143m for the year to April 26, from £179m last time, on sales that were slightly higher at £3.95bn. An analyst survey compiled by Capital IQ forecast pre-tax profit at £135m. Frasers withdrew its own financial guidance in March when the pandemic struck the UK.

Profit fell 14 per cent in the UK sports retail division, which accounts for half of the group’s total. But that was partly offset by an improvement at Premium Lifestyle, which includes Flannels and the House of Fraser department stores. The unit made a £4.5m profit compared with a £37m loss last year.

The company said it expected more House of Fraser stores to close, repeating what it said last year, but did not provide details. The group has 48 stores, with many on flexible lease terms following the department store group’s administration in 2018.

The retailer added that it would still consider freehold property acquisitions. It has spent £203m on properties over the past year.

“Long-term leases will be signed with collaborative landlords and those willing to co-invest in the elevated store model,” the group said. “However, it is possible further store closures will occur over the coming year where such terms cannot be agreed.”

Like most retailers, Frasers benefited from a big rise in online sales during the 12-week UK lockdown, though it provided no figures. Its value-focused Sports Direct stores were popular with shoppers when they reopened in June.

WSJ : Alexei Navalny, Rival to Putin, in Critical Condition After Suspected Pois

Alexei Navalny, Rival to Putin, in Critical Condition After Suspected Poisoning
Opposition leader is on artificial ventilation in a Siberian hospital, according to his spokeswoman


Russian opposition politician Alexei Navalny took part in a rally in Moscow on Feb. 29.
PHOTO: SHAMIL ZHUMATOV/REUTERS

MOSCOW—Russian opposition politician Alexei Navalny, a fierce critic of President Vladimir Putin and Moscow’s political elite, has been poisoned and is unconscious undergoing treatment at a Siberian hospital, his spokeswoman said.
He started feeling ill after he had tea early on Thursday before a flight from the Siberian city of Tomsk to Moscow, Kira Yarmysh said. The plane made an emergency landing in the nearby city of Omsk, where Mr. Navalny was admitted to the hospital, she added.
“We assume that Alexei was poisoned with something mixed in his tea; it was the only thing he drank all morning,” Ms. Yarmysh said on Twitter. “Now Alexei is unconscious.”
Mr. Navalny was hooked up to artificial ventilation at the hospital, Ms. Yarmysh said, adding that his supporters had called the police to the hospital. His condition was critical, she said.


Mr. Navalny campaigned forcefully earlier this year against a series of constitutional amendments passed in July, which included a provision to allow Mr. Putin to potentially rule until 2036. He had called for Russians to boycott a referendum on the amendments, saying the vote would be falsified regardless of the real outcome.
Since the constitutional vote earlier this summer, more opposition figures have found themselves under increased pressure from authorities. Some have been detained and had their properties raided.
Last year, Mr. Navalny said he was poisoned in police custody after supporting protests against the Kremlin in central Moscow. The Wall Street Journal couldn’t independently confirm this claim.
Kremlin critics have been hospitalized with suspected poisoning before. Vocal opposition figure Vladimir Kara-Murza was poisoned in 2015 and 2017 before recovering. In 2018, Sergei Skripal, a former double agent, and his daughter were poisoned in the U.K., where they lived.

WSJ : A Medieval Manor West of London Lists for $6.55 Million

A Medieval Manor West of London Lists for $6.55 Million
Cothay Manor sits on 38.8 acres and includes a number of outbuildings and stables
For close to three decades, Mary-Anne Robb has devoted herself, body and soul, to Cothay Manor, a medieval house set in the English countryside.
Since she and her late husband Alastair bought the rambling 17,375-square-foot property in 1993, she has routinely risen at 6 a.m. to labor for 10 hours at a stretch in its formal gardens, while also finding time to scour antiques markets for suitable “treasures,” as she calls the antique furniture and objects she buys to fill it.
Now, Mrs. Robb, 80, has decided the time has come to throw the trowel in.
“If I don’t go now, I never will,” she said.

Cothay Manor, which sits on almost 40 acres of grounds and has been featured in films and television, is for sale with Knight Frank for offers over $6.55 million.
When the Robb family bought Cothay Manor—which is pronounced Cott-ay—they were already old hands at running old houses.
A spiral staircase leads between this original master bedroom and the great hall below.
PHOTO: ALICE WHITBY FOR THE WALL STREET JOURNAL
Their previous home was a fire-damaged Queen Anne era (1702—1714) priory in Marlborough, about 80 miles west of London, which they had fully renovated. During the 1990s recession, their business, Marlborough Tiles, struggled. So they sold their home and bought another about 100 miles further west, where they were able to take advantage of lower house prices. They paid $1.172 million for Cothay Manor in Somerset county.
“They needed to raise some capital, so they sold the house, saved the business, and bought Cothay,” said Mathew Robb, 51, one of the couple’s four children.
But Cothay Manor is no compromise house. Its oldest sections date from before 1480 and Historic England, the U.K.’s official conservation organization, considers it an “outstanding” example of a Tudor country house. It has been awarded “Grade I” status, the highest level of landmark protection given by Historic England.
The home is on 38.8 acres, and includes outbuildings and stables.
The double height great hall, with its timbered ceiling and oak paneling. The windows are set high in the walls for security.
PHOTO: ALICE WHITBY FOR THE WALL STREET JOURNAL
A guest bedroom set on the top floor of Cothay Manor.
PHOTO: ALICE WHITBY FOR THE WALL STREET JOURNAL
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Little is known of Cothay’s early history. According to Historic England, it was built by the wealthy Bluett family; the family coat of arms is still visible on the gate house. According to “Great Medieval Houses of England and Wales, 1300-1500: Volume 3,” by Anthony Emery, Cothay Manor was altered around 120 years later by its next owners, the Everys. Over the following centuries, according to Historic England, the main part of the manor has changed little. It retains its double-height great hall overlooked by a gallery, and a series of chambers decorated with faded frescoes that Historic England dates at around 500 years old. A “new wing” was added in the 1930s.
Although the house was in sound structural condition when the Robbs bought it, the problem, in their eyes, was its 20th-century décor. The house was full of midcentury furniture. There was some minor damage: The rubber underlay beneath the carpets caused the ancient oak flooring to warp. “The whole place had no charm at all,” said Mrs. Robb.
The family set about redecorating, including hand-painting flowers on the walls of the great chamber, now a second sitting room. Then Mrs. Robb began filling it with what she calls “wonderful furniture” dating from the 1600s, which she sourced at antique fairs.
In the dining room, there is cornicing with a design of vine leaves and pomegranates with, in each corner, a face. Mr. Robb suggests they may possibly be likenesses of the craftsmen who did the work.

A Medieval Manor in Modern Times
Inside a 17,375-square-foot estate set in the English countryside.

The arched entrance porch of Cothay Manor leads to a front door with a spy hole and 11-inch long original key.
ALICE WHITBY FOR THE WALL STREET JOURNAL
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One of Cothay Manor’s individual garden “rooms.”
PHOTO: ALICE WHITBY FOR THE WALL STREET JOURNAL
According to “Gardens of Britain and Ireland” by Patrick Taylor, the grounds had been laid out in the 1920s by its then-owner, Colonel Reginald Cooper, as a series of “rooms” surrounded by tall yew hedges. But it had fallen into disrepair by the time the Robbs bought it, said Mrs. Robb.
“We took everything out, just leaving the bones of it—the hedges and the trees—and we replanted it all,” she said.

Today, each outdoor room has an individual character, from the spiky garden filled with architectural plants to the bog garden, planted with species comfortable in damp conditions, all linked by planted “corridors.”
The grounds of the estate are filled with a series of ornamental ponds.
PHOTO: ALICE WHITBY FOR THE WALL STREET JOURNAL
Cothay Manor already had an ornamental duck pond, and the family decided to repurpose its outdoor swimming pool as another pond filled with lily pads. But Mrs. Robb’s late husband wanted something more ambitious. So he created a lake, complete with two islands. There is an arboretum of rare trees and a wildflower meadow in the backyard, and some of the grassland is leased to a local farmer to graze sheep.
Mary-Anne Robb, who has owned Cothay Manor since 1993, has devoted herself to the estate.
PHOTO: ALICE WHITBY FOR THE WALL STREET JOURNAL
Running such a large property is expensive and time consuming. Mrs. Robb employs two part-time gardeners. A handyman and a man to maintain the biomass boiler which heats the house and the water both visit weekly. She cleans the home herself. To help foot the running costs of the home, Mrs. Robb has monetized the manor. House and garden are opened to the public during the summer, and there is a tea room and nursery selling plants.
Opening the house means developing a thick skin. Mrs. Robb recalled a conversation between two elderly visitors. One toured the house while the other remained outdoors. When they were reunited, the tourist told her companion she’d missed nothing but a house full of “tatty rugs” and “old brown furniture.”
Cothay Manor is also used as a wedding location and has appeared in films and on television including “Dr. Dolittle” starring Robert Downey Jr., and the BBC adaptation of the “Wolf Hall” trilogy of novels.

On The Grounds of Cothay Manor
The 40-acre estate includes a number of outbuildings, stables and planted corridors.

One of the rental properties at Cothay Manor.
ALICE WHITBY FOR THE WALL STREET JOURNAL
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While Mrs. Robb and her dogs, Billy and Darlingirl, occupy the five-bedroom, three-bathroom main section of the house, the side wings have been divided into half a dozen rental houses and apartments.
Mrs. Robb’s husband died in 2015, aged 85. Mrs. Robb decided to sell Cothay Manor because she said she would like to release some equity to distribute to her children. She says she intends to stay in Somerset.
Mrs. Robb said she rejected her son’s suggestion that she downsize to a three- or four-bedroom home. In a smaller place, she asked, “what would I do with all my treasures?”

WSJ : Fundraising at Company Tied to Steve Bannon and Guo Wengui Faces Probe

Fundraising at Company Tied to Steve Bannon and Guo Wengui Faces Probe
Former Trump political adviser and exiled Chinese businessman raised more than $300 million in private offering, Guo says

A media company linked to former Trump political adviser Steve Bannon and exiled Chinese businessman Guo Wengui raised more than $300 million in a private offering this spring that is now being investigated by federal and state authorities, say people familiar with the matter.

JPMorgan Chase & Co. and Wells Fargo & Co. have frozen accounts tied to fundraising for the company, GTV Media Group, some of these people said. Bank of America Corp. also closed an account for GTV Media’s parent company shortly after it was opened in recent months, another person with knowledge of the situation said.

The federal probe is being conducted by the Federal Bureau of Investigation and the Securities and Exchange Commission, people familiar with the investigation said. The investigators have been examining whether GTV Media or associates of Mr. Guo violated securities laws through the private share placement. The New York state attorney general’s office has also been examining the matter, these people said.

Soon after the fundraising, some investors began pushing for refunds after they said they never received official documentation verifying their investments in GTV Media, among other issues that led them to distrust Mr. Guo.

Mr. Guo, a former property tycoon who is now one of China’s most-wanted fugitives, and Mr. Bannon were two of the key people behind GTV Media’s launch this spring, according to a company fundraising document and interviews. The document identifies Mr. Bannon as a company director, while Mr. Guo served as the public face for its fundraising. Associates of Mr. Guo are listed as GTV Media executives, while Mr. Guo is described as a company adviser.

Messrs. Guo and Bannon joined forces in the last few years as tough critics of China’s Communist Party, and recently have been spending significant time together on Mr. Guo’s yacht, according to videos posted on a website affiliated with Mr. Guo. Mr. Guo faces accusations of wrongdoing in China including bribery, fraud and money laundering—allegations he has denied.

GTV Media said in a statement that it had carried out the private placement under the guidance of its lawyers and that “all of the raised funds are intact.”

The company added that it is fully prepared to cooperate with any U.S. agency that has questions about the private placement or its business.

A representative for Mr. Guo didn’t provide comment, and Mr. Bannon declined to comment.

The FBI had been examining Mr. Guo’s work with Mr. Bannon even before the private placement this spring. The Wall Street Journal, citing people familiar with the matter, reported last month that FBI agents had been investigating Mr. Guo and the money he used to fund his media efforts in the U.S. for more than six months and that prosecutors from the U.S. attorney’s offices in Manhattan and Brooklyn had been involved in the probe.

At that time, representatives for Messrs. Guo and Bannon said neither man had been contacted by the FBI as part of the probe.

Earlier this month, Mr. Guo said in an online video that he had been subpoenaed and that he welcomed authorities’ probes. A lawyer for Mr. Guo didn’t provide comment on what information the subpoenas were seeking and whether Mr. Guo had complied with them.

Since fleeing China for the U.S. in 2014, Mr. Guo built a large following online, particularly among the Chinese diaspora in the U.S. and elsewhere, and has alleged high-level corruption in China’s Communist Party. He has also applied for asylum.

GTV Media sought to capitalize off that popularity. One fundraising document reviewed by the Journal said the venture aimed to be “the only uncensored and independent bridge between China and the Western world.”

The company told potential investors it would be a platform for news, social media and e-commerce, with competitors including Amazon.com Inc., Tencent Holdings Ltd. ’s WeChat and ByteDance Ltd.’s TikTok. A fundraising memo for potential investors this spring didn’t include a detailed business plan for GTV Media. It stated a pre-investment valuation of $1.8 billion.

The company identified Mr. Bannon as one of several prominent directors. Others included hedge-fund manager and China critic Kyle Bass, Texas venture capitalist Darren Blanton and John A. Morgan, the son of Morgan Stanley’s co-founder.

Mr. Bass said on Twitter in July that he was no longer serving on GTV Media’s board, and a person familiar with the company confirmed he had resigned. Mr. Blanton didn’t respond to requests for comment. Mr. Morgan couldn’t be reached.

The fundraising documents reviewed by the Journal say GTV Media aimed to sell a 10% stake in the company for as much as $200 million, with the rest held by another company affiliated with Mr. Guo.

Mr. Guo said in an online video in June that GTV Media had raised more than $300 million, with demand for shares exceeding expectations.

GTV Media didn’t register the deal with the SEC. To avoid registration, companies generally must sell shares only to wealthy “accredited investors” who meet requirements such as having more than $1 million in assets, excluding the value of a primary residence, or earning more than $200,000 a year. GTV Media said it sought to sell shares to such accredited investors.

Spokespeople for the SEC, the FBI field office in New York, the Manhattan U.S. attorney’s office and New York state attorney general declined to comment.

It couldn’t be determined how much money is in the accounts linked to GTV Media. A Chase account for GTV Media collected funds from investors willing to give at least $100,000 to GTV Media, according to documents reviewed by the Journal.

Separately, smaller investors were told they could invest in the GTV Media offering through another entity called Voice of Guo Media Inc. Several of these investors said they were told that the money sent to Voice of Guo Media would be invested in GTV Media on their behalf.

Mr. Guo said in June that Voice of Guo Media had raised nearly $120 million. That company didn’t respond to requests for comment. GTV Media said in its statement that it didn’t issue shares to anyone through Voice of Guo Media.

SEC investigators have been reaching out to conduct interviews with investors who are now pushing GTV Media or Voice of Guo Media to refund their money and are lodging complaints about Mr. Guo and his associates, some of the people familiar with the matter said.

The Journal reviewed documentation from investors including copies of bank transfers, shareholder agreements and text messages.

As U.S.-China relations have soured during the Trump administration, Mr. Guo has proven divisive among U.S. critics of China. Some such as Mr. Bannon have aligned themselves with Mr. Guo, while others say they distrust him. The FBI previously viewed Mr. Guo as a potential agency informant and tried unsuccessfully to cultivate him as one around 2017, say people familiar with the matter.

Some have openly questioned Mr. Guo’s loyalty to the U.S. In 2018, a company affiliated with Mr. Guo hired Virginia-based research firm Strategic Vision to investigate individuals Mr. Guo said were tied to top Chinese Communist Party officials, according to court filings.

Strategic Vision had issues with the request and accused Mr. Guo of being a “dissident-hunter” for China. The contract between the companies is now in litigation.

A lawyer for Mr. Guo has denied those claims, saying in a previous statement to the Journal: “Mr. Guo is the most-wanted dissident worldwide by the Chinese Communist Party and has been their most outspoken and vitriolic critic since his arrival in the United States.”

A New York state court on June 28 dismissed a lawsuit filed by Mr. Guo against Dow Jones & Co., publisher of the Journal, over its reporting about the litigation between Strategic Vision and the Guo-linked entity. Mr. Guo has indicated he plans to appeal.

The recent fundraising has also drawn scrutiny abroad. In Taiwan, local news media reported that police had prevented one supporter of Mr. Guo from transferring $43,000 to Voice of Guo because they suspected financial fraud. In New Zealand, dozens of protesters criticized a decision by Australia and New Zealand Banking Group Ltd., or ANZ, to block transfers worth $2 million to GTV Media, according to another local news-media report. ANZ declined to comment.

Mr. Guo has complained online about banks blocking transfers, alleging they are under the influence of China’s Communist Party.

>>> Europe : brokers Upgrades & Downgrades - 20th of August 2020 - V2(+)

>>> Up
* Apax Global Alpha Raised to Buy at Jefferies
* Argenx Raised to Buy at KBC Securities; PT 221 euros (+)
* Greencore Group Raised to Overweight at Barclays; PT 140 pence
* Maersk Raised to Buy at Handelsbanken; PT 11,000 kroner
* Naturgy Raised to Neutral at Goldman; PT 17 euros
* Norsk Hydro Raised to Neutral at SpareBank; PT 30 kroner (+)
* Royal Unibrew PT Raised to 740 kroner at Jefferies
* Siemens Gamesa Raised to Buy at SocGen; PT 28 euros
* SSE Raised to Buy at HSBC; PT 1,470 pence

>>> Down
* Adyen Cut to Reduce at KBC Securities; PT 900 euros (+)
* Alior Cut to Hold at SocGen; PT 17 zloty
* Fortum Cut to Neutral at Oddo BHF; PT 17 euros (+)
* Instalco AB Cut to Hold at SEB Equities; PT 170 kronor
* Lanxess Cut to Add at Baader Helvea; PT 55 euros
* M&G Cut to Hold at Deutsche Bank; PT 195 pence
* New Work SE Cut to Sell at Berenberg; PT 220 euros
* Wacker Chemie Cut to Add at Baader Helvea; PT 92 euros

>>> Initiation
* ABB Rated New Sell at Berenberg; PT 20 Swiss francs
* Adevinta Rated New Equal-Weight at Morgan Stanley
* Brockhaus Capital Management Rated New Buy at Citi
* Brockhaus Capital Management Rated New Buy at Jefferies
* Brockhaus Capital Management Rated New Buy at Commerzbank
* Cranswick Rated New Underweight at Barclays; PT 3,500 pence
* Eaton Corp Rated New Hold at Berenberg; PT $110
* Emerson Electric Rated New Buy at Berenberg; PT $83
* Games Workshop Rated New Buy at Panmure Gordon; PT 12,000 pence
* Legrand Rated New Buy at Berenberg; PT 80 euros
* Newron Pharma Rated New Add at Baader Helvea
* Qiagen Reinstated Overweight at JPMorgan; PT $60
* Rexel Rated New Buy at Berenberg; PT 15 euros
* Rockwell Automation Rated New Buy at Berenberg; PT $270
* Schneider Electric Rated New Buy at Berenberg; PT 120 euros
* Siemens Rated New Buy at Berenberg; PT 140 euros
* Thermo Fisher Reinstated Overweight at JPMorgan; PT $460

>>> Call
* A Potential Accor/IHG Merger Could Face CFIUS Hurdles: Kepler (+)
* Buy Travis Perkins Amid ‘Astonishing’ DIY Recovery: Berenberg (+)
* Cranswick China Suspension Is Unhelpful in Short Term: Peel Hunt (+)
* Equinor’s Energy Transition Strategy Looks Most Compelling: RBC
* Kudelski Seen Down on Guidance Cut, Missed Estimates: Vontobel (+)
* LVMH’s Portfolio is Built for Tough Times Like These, RBC Says
* M&G Cut at Deutsche Bank on ‘Less Engaging’ Underlying Picture
* Qiagen Rated Overweight at JPMorgan, Covid Tailwinds to Continue (+)
* Siemens, Rexel Rated Buy on Industry-Automation Push: Berenberg (+)

>>> Stoxx 600 PRe-MArket indications

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  • Airbus (AIR TH) -1.8%
    • Emirates to Restore 100% of Network by Summer 2021
  • Adidas (ADS TH) -1.8%
  • Commerzbank (CBK TH) -1.9%
  • Orange (FTE TH) -1.9%
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    • Spanish Banks’ Risk Outlook Depends on What Follows Moratoria
  • Adyen (1N8 TH) -2.4%
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  • Continental AG (CON TH) -2.7%