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MORNING BID AMERICAS-Corporate scatter

A look at the day ahead in U.S.and global markets from Mike Dolan.

A hail of mega corporate updates distracted stock markets from a confusing macro picture – but offers little more clarity with scattergun fortunes and ambiguous readouts for the wider economy.

Shares in Walt Disney surged 6% ahead of Thursday’s open after the firm announced a sweeping restructuring under reinstated CEO Bob Iger and cut 7,000 jobs – 3.6% of its workforce – in an effort to save $5.5 billion and make its streaming business profitable.

Disney’s job shedding is yet another sign that January’s red-hot U.S.employment reading may not be the full picture as company apes many big tech and digital firms in downsizing its staff this year.

The share price reaction, however, was in contrast to the bizarre Alphabet swoon on Wednesday.

Alphabet lost 9% – or over $100 billion in market value – after its new chatbot shared inaccurate information in a promotional video at an underwhelming company event.If you have any concerns pertaining to where and ways to make use of EVDEN eVE NAKliYaT, you can contact us at our own page. The flub fed worries that the Google parent is losing ground to rival Microsoft in the renewed craze around artificial intelligence.

Fears over ailing Swiss bank Credit Suisse dominated in Europe. Its shares dropped 5% after it reported its worst annual loss since the 2008 global financial crisis and warned of a further „substantial” loss this year.The mood didn’t improve even as it marked out another step towards creating a standalone investment bank by buying Michael Klein’s advisory boutique for $175 million.

For inflation worriers, evden EVe NaKLiYAT consumer goods firms bear close watching.Unilever said on Thursday it would continue to raise prices for its detergents, soaps and packaged food to offset rising input costs but the pace of price rises was slowing and would ease up more in the second half of 2023.

Price increases would continue in the second half „but it will be a lower rates of increases…we are probably past peak inflation, but not yet past peak pricing,” finance chief Graeme Pitkethly said.

That disinflation drum continued to beat in Germany, where consumer prices inflation fell more than anticipated last month, easing back below the 10% expected to 9.2% on the year.

Sweden’s central bank emphasised that rising global interest rates were still some way from their peaks as it raised its key rate by half a percentage point to 3.0%, forecasting more to come.

Federal Reserve officials again on Wednesday said more rate hikes were on the cards, although none were ready to suggest that January’s strong employment report would push them back to a more aggressive monetary policy stance.

Moving to a funds rate of between 5.00% and 5.25% „seems a very reasonable view,” said New York Fed chief John Williams.

More generally, U.S.stock futures were higher on Thursday, with Treasury yields and the dollar falling back. European shares touched a fresh nine-month high on Thursday as Germany’s Siemens and UK’s AstraZeneca boosted earnings euphoria, while Britain’s bank, commodity and eVDEn eve NAkLiYAT pharma heavy FTSE100 hit another record high.

The share in troubled Indian giant Adani took another negative twist.Financial index provider MSCI said some Adani securities should no longer be designated as free float, after market participants raised concerns about the eligibility of the Indian conglomerate’s companies for some of its indexes.

Norway’s $1.35 trillion sovereign wealth fund said it had recently divested virtually all its remaining shares in the Adani group.

Key developments that may provide direction to U.S. markets later on Thursday: * U.S. weekly jobless claims * Bank of England Governor Andrew Bailey, European Central Bank board member Luis de Guindos speak * European Union summit * U.S. Treasury auctions 30-year bond * U.S.

corp earnings: AbbVie, PepsiCo, S&P Global, PayPal, Apollo, Hilton, Expedia, News Corp, Ralph Lauren, Lyft, Kellogg, Motorola Solutions, Mohawk Industries, Philip Morris, Huntington Ingalls, Duke Energy, Wills Towers Watson

(By Mike Dolan; mike.dolan@thomsonreuters.com.Twitter: @reutersMikeD)

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Russia's Polymetal negotiates to keep London listing as GDRs

This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine

By Anastasia Lyrchikova

MOSCOW, EVDEN evE nAkLiyAt Feb 9 (Reuters) – Russian gold and silver producer Polymetal is negotiating with British authorities to keep its London listing in the form of global depositary receipts (GDR) after the company moves to Kazakhstan, the company’s CEO told Reuters.

Polymetal last month said it was considering moving its parent company’s domicile and primary listing, currently in Jersey and London respectively, to „Russia-friendly” Kazakhstan, which „could unblock the ability to execute further corporate actions”.

The move would allow the company to spin off the Kazakh business, which accounts for about 38% of revenue and eVDEn EvE nAKliyAt 32% of annual production. While domiciled in Jersey, deemed an „unfriendly” jurisdiction by Russia, EVDEN eve nAKLiyAT no separation of assets is possible.

„We want to take the Kazakh business out of the shadows, out from under the canopy of sanctions,” CEO Vitaly Nesis told Reuters.”That’s why we have to split up the company first.”

Nesis said the company’s management was in discussions with the London Stock Exchange, the FCA regulator and service providers about retaining a form of LSE listing after the move to Astana and was counting on clarity within 1-2 months.

„We are applying maximum efforts to maintain our listing in London, but given the recent, ninth sanctions package…the task is not simple. Many service providers are reluctant even to engage in dialogue about securing a listing after the move.”

The decision about changing the listing will be put to shareholders and requires 75% approval.If you liked this article and evdeN eVe NakliYat you simply would like to get more info regarding EvDEn eve NakliYat kindly visit our own web page. The European Union’s ninth sanctions package bars investment in Russia’s mining industry.

Polymetal has not been individually targeted with sanctions imposed against Moscow, but has faced hurdles.

Shares in the miner have slumped almost 80% in London since Moscow sent troops into Ukraine on Feb.24 last year. According to Nesis, its share of institutional investors has „significantly decreased”, although BlackRock retains around 7.5%.

Nesis said the outcome of talks was likely to be a GDR listing, Evden evE NAKliYat rather than a premium listing.

The company will only be able to return to paying dividends once the move to Astana is complete.

He said sales have already been separated – the business in Kazakhstan sells all its gold to the central bank, while in Russia last year the majority of metal was sold to Asia.

But starting from 2023, Polymetal has returned to Russia’s rapidly growing domestic market with gold sales from its Russian assets, Nesis said, and is not engaged in export.(Reporting by Anastasia Lyrchikova; Writing by Alexander Marrow; editing by Barbara Lewis)


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