AXA (Satellites): some parts of the group’s Asian operations were recently hit by a “targeted ransomware attack”. The perpetrators reportedly stole three terabytes of data from operations in Hong Kong, Malaysia, the Philippines and Thailand. Clients’ personal data was compromised in the attack.
FACEBOOK (US Core Holdings) is planning to launch a US stablecoin through its Diem Association as the group scales back its global ambitions and focuses on the US. The Association has withdrawn its application for a Swiss payment system licence and is relocating to the US.
MOWI (Core Holdings) is due to report its detailed Q1 2021 results this Wednesday. Preliminary numbers put EBIT at €109m, 24% ahead of expectations. With harvest volumes 8% above forecast and margins (EBIT per kilo of salmon) higher, the group is set to report on volume, price and profitability trends over the coming quarters.
Although WALT DISNEY (US Core Holdings) reported fairly strong results, the market was disappointed in the level of growth in streaming services (103.6m Disney+ subscribers vs. a consensus expectation of 109.3m). Other than that, demand for the group’s parks, hit hard by the pandemic, seems to be picking up.
The correction was short-lived, with indices bouncing back to end the week at their initial support levels. With commodity prices rising, inflationary risk continued to weigh on equity markets. On the macro front, we expect US and European PMI data, US housing numbers and European GDP. The uptrend appears to be running out of steam in the short term.
USD remains under pressure: EUR/USD 1.2138; USD/CHF 0.9016. Breaking through resistance at 1.2180 would give the EUR/USD pair an extra push towards 1.2245-1.2350; failing that, it will fall back towards support at 1.20. GBP has consolidated its gains: GBP/USD 1.4109; EUR/GBP 0.86. CHF is stable at EUR/CHF 1.0945. The Israel-Palestine conflict has pushed gold up to $1,853/oz; next support: $1,900. Our ranges – USD/CHF: supp. 0.8960 res. 0.9225; EUR/CHF: supp. 1.0858, res. 1.1160; GBP/USD: supp. 1.3822, res. 1.4340.
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