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I flatter, I calm, I threaten. Donald Trump's bargaining tactics are constant. There was therefore no reason for it to change the approach of the G20 summit that will host, at the end of the week, a crucial meeting with its Chinese counterpart Xi Jinping on the trade relations between the two powers. In the columns of The Wall Street Journal, the US President said he was pessimistic about the outcome of negotiations with Beijing. It is therefore ready to implement its entire arsenal of customsst next January. To make matters worse, he planted a new banderilla in the Apple ecosystem saying that iPhones produced in China could be surcharged by 10%. A price increase that "people could easily endure"He also fired General Motors and his thousands of job cuts, while continuing to soap Theresa May's board by criticizing the negotiated Brexit deal." The return of concise all-out attacks with a difficult pbad for Donald Trump, whose support rate has dropped to 38% in the United States.
The good news is that the financial markets have quietly reacted to the statements of the American leader, especially since rumors to the contrary have circulated in the opening. The CAC40 grabs 0.06% 4,998 points a few minutes after the first changes.
The economic highlights of the day
In the United States, two real estate statistics are expected at 3:00 pm (FFHA real estate prices and S & P Case Shiller Composite), before the Conference Board consumer confidence index (4:00 pm, consensus 136,2). Several members of the Fed (Clarida, Bostik) have to deliver speeches at economic events.
EUR / USD is up 1.13401 (+ 0.06%), while the ounce of gold is stable at US $ 1,222. WTI fell by 0.5% to 51.34 USD, while Brent limited it down -0.1% to 60.35 USD. The 10-year US bond yield is unchanged at 3.054%. Bitcoin stabilizes USD 3,810.
The main changes of recommendations
- Air France KLM : Macquarie resumes neutral tracking by targeting EUR 10.20. Berenberg revalorises from 10.50 12 EUR while remaining buyer.
- Altri : BBVA goes from underperformance market performance by targeting EUR 8.60 against EUR 8.30 previously.
- Coloplast : Barclays resumes monitoring overweight targeting 685 SEK.
- Concordia Maritime : Kepler Cheuvreux goes on to keep buying by upgrading 12 12 SEK.
- Continental : Goldman Sachs remains buyer with a reduced target of 188,179 EUR.
- Crdit Switzerland : Morgan Stanley goes overweight in online weighting with a target of 18 14 CHF reduced.
- easyJet : Macquarie takes overperformance monitoring by targeting 1,475 GBp. Liberum revalued by 1,250 1,350 GBp while remaining. Berenberg lowered its target by remaining a seller by 1 215 1 160 GBp.
- Euronav : Kepler Cheuvreux pbades to keep buying by raising 7.50 14.50 EUR his goal.
- GEA Group : Baader Helvea keeps but reduces his goal by 28.25 EUR.
- Geberit : Crdit Suisse lowers neutral outperformance with a reduced target of CHF 485,420.
- Hikma : Jefferies is going to keep buying with a target of 1,643 2,000 GBp.
- Hochdorf : Crdit Suisse remains underperformed with a reduced target of CHF 155,120.
- IAG : Macquarie takes overperformance monitoring by targeting 480 GBp.
- KBC Groep : Morgan Stanley goes online weighting overweight targeting 79.60 EUR.
- Lufthansa : Macquarie resumes neutral tracking targeting 19.90 EUR.
- Michelin : Goldman Sachs remains neutral with a reduced target of 126,114 EUR.
- Rexel : Crdit Suisse goes from neutral underperformance to reduced from EUR 12.10 to EUR 11.70.
- Royal Dutch Shell : AlphaValue revaluates of 2 601 2 808 GBp, remaining accumulate.
- Ryanair : Macquarie takes over underperformance by targeting EUR 9.95.
- SEB : MainFirst resumes outperformance tracking by targeting EUR 162.
- Swiss Re : Deutsche Bank will keep buying with a target of CHF 98,101.
- Valeo : Goldman Sachs remains neutral with a reduced target of 37 27 EUR.
Emmanuel Macron is to announce this morning the new French energy policy, with consequences for Electricit de France, Engie, Total and more generally on the whole ecosystem. Axa will pay 584 million euros to buy the 50% of Chinese insurer Axa Tianping he does not yet hold. AccorHotels launches the purchase of the Polish Orbis balance, ie 47.3% for 442 million euros. Credit Agricole will buy the shares of Charterhouse in Comexposium. S & P has lowered "B-" the credit rating of Vallourec, which in reaction indicated to plan to respect its banking covenants in 2019. Trigano and BigBen have published their accounts. Carrefour puts 500 million euros 7 years 1.75%. Invibes acquires Dreicom. Korian redeems Petit-Fils. Groupe Gorg is signing a contract in the United States. Argan repays 65 million euros of bonds. Imerys is reorganizing its activities in two ples. OSE Immuno receives the green light to launch a phase I trial in Belgium. A command for GTT.
General Motors will cut 14,800 jobs worldwide, including several thousand in the United States. United Technologies will split into three: aeronautics, Otis and Carrier. The new president of Nissan should be announced on December 17. The capitalization of Microsoft has shortened that of Apple yesterday in session.
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