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The futures of the European index point to the rise after the session of sales of Monday and with the relaxation of the blocking measures that augur a good omen and the focus in the quarterly ones. Contracts in the Eurostoxx50 have risen 1.5%, those of the Dax 0.34% and those of the Ftse Mib 0.13%. Investors seem to want to leave the renewed tensions between the United States and China in the background for the time being, even Wall Street closed slightly higher after a difficult session, with focus on measures to ease the shutdown decided by some states to start. California Meanwhile, for the fifth consecutive session, the increase in oil prices continues, given the prospects of a possible recovery in demand, with the recovery in activities. Among Asian stocks, the markets of China, Japan and South Korea closed today.
Essilux suspends buybacks and acquisitions of Covid-19
Following the pandemic, EssilorLuxottica, which closed the first quarter of 2020 with consolidated revenues of € 3,784 million, with an annual decrease of 10.1%, took a number of measures, including suspending the purchase of shares. own, as well as “new acquisitions and partnerships until the economy stabilizes.” The company, stated in the press release, has ensured operational continuity and balanced the closures imposed by local governments by taking advantage of the flexibility and diversification of its logistics production activities and the distributed network of ophthalmic lens laboratories. In addition, it quickly reduced its costs through social safety nets or employee leave periods, the reduction or deferral of part of the executive compensation, the suspension of marketing expenses and the renegotiation of contracts with suppliers and lessors. Finally, it preserved liquidity by suspending the program to purchase its own shares, by not proposing the distribution of a dividend and by suspending all non-essential investments.
Oil extends its positive streak, hopefully recovering demand
Oil continues on the upward path, with the WTI moving towards the fifth day of increases, the best streak in nine months. Prices are underpinned by the hope that demand for crude oil and gasoline will gradually start to rebound in some parts of the United States, Europe and Asia as travel restrictions imposed in response to the coronavirus pandemic are eased. The price of oil has almost doubled compared to $ 10 a barrel last week, thanks to production cuts by OPEC + countries that took effect on May 1 and thanks to the fact that, in The United States, giants like Exxon, Chevron and ConocoPhillips plan to cut production by a total of 660,000 barrels per day by the end of June. WTIs rose 8.2% in June to $ 22.06 per barrel, the highest in three weeks. Brent grew 5.37% in July to $ 28.66 per barrel, marking the sixth consecutive increase.
Yesterday, Wall Street posted a slightly higher session with the positive Nasdaq, thanks to the boost in digital consumption that favors many tech companies listed in the index, including Amazon, despite the resignation of an executive over protests by warehouse employees. In the first session of the week, investors benefited from recent market recoveries, especially in the Old Continent. The United States’ accusations against China of irresponsible manipulation of the virus and the threat of new tariffs sales began.
Macroeconomic data, reflecting the disruption in global activity, did not support the price lists. Manufacturing production in the European Union has reached absolute lows: an expected figure, but which in the absence of visibility has accompanied the falls. More than anything, reviews of corporate goals are troubling. even in the long term.
