news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

　　[Overnight News]

　　The Republican Party officially nominates Vance as its vice presidential candidate

On the 15th local time, the Republican National Convention formally approved the nomination of James David Vance as the Republican vice presidential candidate.

Earlier in the day, former US President Trump announced at the Republican National Convention in Milwaukee, Wisconsin that Ohio Senator James David Vance (J.D. Vance) will run as his vice presidential candidate in the 2024 presidential election.

　　Dow hits new high

The three major U.S. stock indexes closed higher on Monday. The Dow Jones Industrial Average closed up 210.82 points at 40,211.72, a 0.53% increase, a record closing high; the Nasdaq Composite Index closed up 74.12 points at 18,472.57, a 0.40% increase; and the S&P 500 closed up 15.87 points at 5,631.22, a 0.28% increase. During the session, the Dow Jones Industrial Average rose to 40,351.10 points, and the S&P 500 rose to 5,666.94 points, both of which were record intraday highs.

Most large technology stocks rose, with Apple up 1.67%, Amazon down 0.91%, Netflix up 1.37%, Google up 0.79%, Facebook down 0.54%, and Microsoft up 0.09%. Among them, Apple set a new record closing high, with a total market value of $3.59 trillion.

Bank stocks rose collectively, with JPMorgan Chase up 2.53%, Goldman Sachs up 2.66%, Citigroup up 1%, Morgan Stanley up 1.19%, Bank of America up 0.77% and Wells Fargo up 2.14%.

In terms of news, Fed Chairman Powell said that recent data has strengthened people's confidence in falling inflation. If the Fed waits until inflation reaches 2% before cutting interest rates, it will wait too long, but the Fed is waiting for more good data to confirm that inflation is falling. Powell said that he will not send any signals on interest rates, and policymakers will "take meetings one by one" and make decisions based on changing data and prospects.

Financial markets had all but abandoned bets on a rate cut in July when Powell spoke, according to Reuters. Traders continue to expect a rate cut in September and further cuts in November and December, bringing the policy rate to 4.5%-4.75% by the end of the year.

　　French antitrust agency confirms it's investigating Nvidia

According to Reuters, on July 15 local time, the French antitrust agency confirmed that it was investigating chip maker Nvidia for anti-competitive behavior.

Benoit Coeure, chairman of the French Competition Authority, said on the sidelines of a press conference on Monday that if the investigation yields results, it would mean Nvidia would be prosecuted.

Earlier this month, it was reported that Nvidia was under scrutiny by France's antitrust regulator and could face antitrust prosecution, becoming the first company to be sued for suspected anti-competitive behavior under France's new regulations.

　　Macy's ends acquisition talks with Arkhouse and Brigade

According to foreign media reports, Macy's, a well-known American retailer, terminated its acquisition negotiations with Arkhouse Management and Brigade Capital and will implement a transformation strategy to reshape the company's chain stores.

Macy's said it was unclear whether the investment group could finance the transaction and that it was not in the best interest of shareholders. Macy's disclosed that the above-mentioned investment group had revised its offer for the second time on June 26, purchasing the Macy's shares it did not already hold at $24.80 per share, higher than the $24 per share offer in March. The new offer values ​​Macy's at $6.86 billion.

In recent years, Macy's and other major department store chains have been hit by fierce competition and shifting shopping patterns, leading to a series of mergers and bankruptcies in the industry. Under the leadership of new CEO Tony Spring, Macy's has launched a turnaround plan that includes closing about 150 underperforming Macy's stores over the next three years - about 30% of its total. It will focus on upgrading the remaining 350 Macy's stores and adding Bloomingdale's stores and Bluemercury beauty stores.

As of the close of U.S. stocks, Macy's fell 11.76%.

　　British luxury giant Burberry issues profit warning and replaces CEO

Burberry, the 168-year-old British luxury goods giant, saw its stock price plummet on Monday after disappointing first-quarter results, the company issued a profit warning, replaced its CEO and cut its dividend.

Burberry, known for its trench coats, bags and "Burberry check", has been trying to make its brand more upmarket for years.

Burberry said it expects an operating loss in the first half of this year and lower full-year operating profit than currently expected if the recent trading downturn continues. The company also suspended its dividend and appointed Joshua Schulman, who previously led Michael Kors and Coach, as its new chief executive officer. Burberry also added that Jonathan Akeroyd will "resign immediately after consultation with the board."

As of the close of the UK stock market, Burberry fell 16.08%.

　　Solar inverter giant to cut 400 jobs

Solar inverter giant SolarEdge will cut another 400 jobs after laying off about 900 employees in January, and the company's stock price fell 15.36% on Monday.

SolarEdge said on Monday it would cut 400 jobs, including 200 in Israel, in an effort to restore profitability and ensure financial stability, according to Reuters. The company had 5,633 employees as of December 31, 2023, according to its latest regulatory filing.

The report mentioned that SolarEdge said in January that it would cut about 16% of its global workforce to reduce operating costs. The company reported a net loss of $157 million in the first quarter, its third consecutive quarter of losses.

Clean energy stocks are one of the worst performing sectors in the U.S. stock market in 2023. SolarEdge's stock price fell 66.96% in 2023 and has fallen 71.38% since 2024, with a latest market value of US$1.5 billion.

　　Russian antivirus firm Kaspersky shuts down U.S. operations

Russian antivirus software company Kaspersky Lab said on Monday it would "gradually wind down" its U.S. operations and lay off its employees in the country after the U.S. Commerce Department announced a ban on the company's products in the country, CNN reported.

Kaspersky Lab's U.S. operations will shut down on July 20, ending the company's nearly two decades of operations in the country.

　　【Today's Focus (Beijing Time)】

09:30 Preliminary calculation report on value added of major industries in the quarter

20:30 US retail sales in June compared with the previous month

　　【Financial Hotspots】

　　More than 20 gold-themed funds have achieved annual floating profits of more than 15%

As of July 15, more than 20 gold-themed funds (only main code funds are counted) have achieved annual floating profits of more than 15%. Among them, China Asset Management CSI Shanghai-Shenzhen-Hong Kong Gold Industry Stock ETF leads similar funds with an annual floating profit of 36.86%.

　　2024 semi-annual performance forecast concluded, 661 A-share companies expected good results

As of July 15, a total of 1,565 A-share listed companies disclosed their 2024 semi-annual performance forecasts. Among them, after excluding loss-making companies, 661 listed companies predicted positive performance (including 76 companies with slight growth, 182 companies with turnaround, 7 companies with continued profit, and 396 companies with expected growth), accounting for 42.24%. So far, the 2024 semi-annual performance forecasts of A-share listed companies have come to an end.

　　330 companies planning to go public have terminated their IPOs this year

Against the backdrop of strict control of IPO entry, the A-share IPO market has seen a wave of voluntary withdrawals this year. Wind data shows that since July, 35 companies have announced the termination of their IPOs on the Shanghai, Shenzhen and Beijing Stock Exchanges. This year, 330 companies planning to go public have terminated their IPOs (including withdrawals, failures in review, etc.).

　　9 companies waiting for mergers and acquisitions to go to the meeting

As of now, there are still 9 stocks in the Shanghai and Shenzhen stock markets whose restructuring matters are in the acceptance and inquiry stage, waiting to be brought to the meeting. Among them, Robotech has been waiting in line the longest. The company's restructuring report was accepted on October 31, 2023, but has not yet been brought to the meeting. In terms of the transaction price of the proposed assets, Gansu Energy has the highest transaction price of 7.628 billion yuan.

　　Only 4 banks remain on the New Third Board

Recently, Xingnong Bank announced that it plans to apply for the termination of listing of its shares on the National Equities Exchange and Quotations. This is the first bank this year and the fourth bank since last year to bid farewell to the New Third Board. Prior to this, Qiongzhong Rural Credit Bank, Kashgar Bank and Hakka Bank had already been delisted from the New Third Board. This means that there are only four banks left that "stick to" the New Third Board market.

　　Guofa shares: The proportion of shares pledged by the controlling shareholder is relatively high

Guofa shares, whose stock price has been falling continuously, announced on the evening of the 15th that the current production and operation are normal, the market environment and industry policies have not undergone major adjustments, production costs and sales have not fluctuated significantly, and the internal production and operation order is normal. Some of the shares held by the actual controller of the company will be auctioned off by the court; the proportion of shares pledged by the controlling shareholder and persons acting in concert and the proportion of shares frozen by the court are high; the company expects the net profit attributable to the parent company in the first half of 2024 to be negative.

　　Trust companies recruit and build direct sales teams

Currently, more than half of the trust companies have posted recruitment information for financial managers and other related positions on third-party recruitment platforms. Under the background of the overall transformation of the trust industry, the transformation of wealth management business and the strict supervision of third-party agency sales business, a large number of trust companies are actively improving their direct sales team building.

　　Brazil's central bank raises its economic growth forecast for 2024

The Central Bank of Brazil raised its GDP growth forecast for the country from 2.10% to 2.11% in 2024, and maintained its growth forecast at 1.97% in 2025. It lowered its inflation forecast for the country from 4.02% to 4.00% in 2024, and raised it from 3.88% to 3.90% in 2025. Brazil has set its inflation management target at 3% from 2024 to 2026, with an upper and lower floating range of 1.5 percentage points.

　　Russia's central bank suspends publication of OTC foreign exchange market data

The Central Bank of Russia announced on the 15th that in order to reduce the impact of sanctions, the Central Bank of Russia has suspended the publication of daily over-the-counter trading volume information of the U.S. dollar, euro and RMB against the ruble settled on T+1. The announcement also emphasized that the procedures for calculating and publishing the official exchange rates of foreign currencies against the ruble remain unchanged.