- U.S. Markets Move Up Ahead of Q2 Results
U.S. stocks moved up ahead of the earnings releases of more big market cap companies. With strong economic data as a result of re-opening and high vaccinations, a good results season is expected in the world’s largest economy.
Tech and FMCG tsocks pushed S&P 500 higher, as NASDAQ also moved up. 11-year old company Moderna which reached the $100 Billion market cap this week jumped 10% after the news that the vaccine maker’s stock might join benchmark indices.
Stoxx Europe is down by 0.39%
Dow Jones is up by 0.057%
NASDAQ is up 0.11%
2. Renault Reports an 18.7% Rise in H1 Vehicle Sales
French automaker Renault reported an 18.7% rise in vehicle sales during the first half of 2021 to 1,422,600 compared to the first half of 2020. But the numbers are 24.2% down compared to the first half of 2019. Renault Group’s Dacia brand increased sales by 24.5% to 262,814 units, and the Lada brand sold 200,219 cars, up 51%.
3. Ready to Form an Alliance to Make Electrification Profitable: Honda
The CEO of Honda Motor said on Friday the company is looking for an alliance to make electrification profitable. Surely, automakers can’t fall behind the timeline as the EV era is too close and Honda’s new alliance consideration is a part of this. The company aims to increase its ratio of electric vehicles (EVs) and fuel cell vehicles (FCVs) to 100% of all sales by 2040.
4. Puma Raises its 2021 Sales Forecast
Puma said on Friday the company has raised its 2021 sales forecast and expects a minimum of 20% jump in sales. The new forecast for Earnings Before Interest and Taxes (EBIT) is around 400-500 million euros(Rs 3,521-4,402 crores). The improved outlook was announced as the Q2 currency-adjusted sales nearly doubled to 1.589 billion euros(Rs 13,990 crores).
5.Q2 Sales Surges, Powered by Jewelry Business: Richemont
The world’s second-biggest luxury goods group- Richemont said on Friday the second-quarter sales have doubled as its jewelry brands are showing good outcomes. The sales at constant currency jumped 129% to 4.397 billion euros (Rs 38714 crores) in the June quarter compared to last year. This is 22% higher than the second quarter of 2019.
6.Europe New passenger Car Registrations Surge 13.3%
According to the data provided by European Automobile Manufacturers Association (ACEA), the number of new passenger car registrations increased by 13.3% to 1,282,503 compared to the previous year. This is the fourth continuous monthly rise. During the first half of 2021, 6.49 million cars were sold, a 27% rise compared to the first half of last year
7. BioNTech Vaccine Produces 10 times more antibodies than China’s Sinovac
According to a study in a popular medical journal, it was found that antibody levels for those fully vaccinated with BioNTech vaccine shots are about 10 times higher than those observed in the from China’s Sinovac Biotech.
The U.S has been using mRNA-based vaccines from Pfizer while a lot of African and Middle Eastern countries use vaccines from China.
8. Samsung Looking for Second Texas Site for Multi-Billion Dollar Plant
With the U.S trying to expand its own chip-production capabilities, Samsung is soon set to invest $17 Billion(~Rs 1.25 Lakh crores) for a state of the art production facility in Texas.
Samsung is hoping to win more American clients and narrowing the gap with industry leader Taiwan Semiconductor Manufacturing Co(TSMC), while the U.S wants to reduce its dependence on China.
9. China’s CryptoCurrency Raising Ahead; Transactions Cross Rs 40,000 Crores
China’s trial of its digital currency yuan trial has reached $5.3 billion(Rs 40,000 Crores)in transaction value. More than 2 crores individuals have opened a virtual wallet. But this is still very small numbers for a country like China, with even PayTM’s digital wallet having more than 10 crore users.
But this is a turning point for cryptocurrencies. China’s push to develop a digital yuan has accelerated the move globally, prompting more central banks to look into developing virtual currencies.
10. U.K Billionare Ends Rs 1,400 Crores Divorce Settlement
Billionaire Farkhad Akhmedov agreed to pay his ex-wife around 135 million pounds (Rs 1,400 Crores), ending Britain’s largest divorce case. Tatiana has been funded by litigation finance group Burford Capital Ltd., which said it will receive $103 million.
“I will burn this money rather then will give her,” Farkhad said in a WhatsApp message to his son earlier. He had gone into hiding with his luxury superyacht Luna to prevent the courts from getting possession, but ultimately kept the right to it after the settlement.
Ultimately, it is the lawyers that won with Partners at Burford Capital, the firm that backed the ex-wife of the Russian billionaire being paid Rs 750 crores for their role in the case.