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GLOBAL MARKETS LIVE: BT Group plans multi-billion pound deal

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05/15/2020 | 10:25am EDT

The week ends with a final round of results, as well as a new development looming for Imerys in the United States in the talcum powder affair, while BT Group is preparing a major operation with its subsidiary Openreach.


Earnings season. JD.com, Hapag-Lloyd, Compagnie Financière Richemont, Campbell Soup, Fortum, ADP Group, CNP Assurances and Reply are among companies reporting their results today.

TSMC in Arizona. Taiwan Semiconductor will build a state-of-the-art plant in the United States for a $12 billion investment. Located in Arizona, the site is expected to be completed by next year. Production should begin in 2024. TSMC, one of Apple's main suppliers, promises around 1600 direct jobs and many more in return. The precise location of the plant and the public support obtained has not been disclosed.

The Abbott test was criticized. The FDA warns about the reliability of Abbott's Covid-19 tests, after a study published by a university, which highlights a high number of false negatives. In response, the American laboratory is going to modify for the second time the instructions for use of its test, made popular by a press conference of Donald Trump, who had presented it in March to illustrate the reactivity of the American pharmaceutical industry.

New shareholders for Openreach? BT Group could open the capital of Openreach to outside investors, the Financial Times has learned, in a multi-billion pound deal. Macquarie's infrastructure division and a sovereign wealth fund would be interested. Openreach could be worth £20bn... twice the current capitalization of its parent company.

In other news. General Motors will downsize its stand-alone vehicle subsidiary. The boss of PNC Financial explains that the sale of his shares in BlackRock is intended to give his group a solid financial position in case the American economy goes off the rails. BMW reappoints Norbert Reithofer as chairman of the supervisory board. The floor of the NYSE (Intercontinental Exchange) will reopen for some brokers on May 26, according to the Wall Street Journal. Apple has bought the company specialized in virtual reality streaming NextVR. The struggling British company Virgin Atlantic is reportedly in discussions with Deutsche Bank and other financial institutions to raise more than $900 million. Singapore's sovereign wealth fund Temasek is joining Facebook's Libra project. Delta Air Lines will withdraw its 18 B777s from operation. Solvay is accelerating its efficiency plans within Composite Materials. Compagnie Financière Richemont reports a contraction in its quarterly results and talks of limited visibility for the year.

Stocks mentioned in the article
ChangeLast1st jan.
ABBOTT LABORATORIES -0.67% 93.04 Delayed Quote.7.11%
AMP LIMITED -2.28% 1.715 End-of-day quote.-10.44%
APPLE INC. 0.25% 383.68 Delayed Quote.30.66%
AT HOME GROUP INC. 2.76% 5.96 Delayed Quote.8.36%
BLACKROCK, INC. 0.84% 554.08 Delayed Quote.10.22%
BMW AG 2.18% 58.69 Delayed Quote.-19.76%
BT GROUP PLC 1.99% 110 Delayed Quote.-42.84%
CAMPBELL SOUP COMPANY 1.76% 50.28 Delayed Quote.1.74%
CNP ASSURANCES 4.05% 10.78 Real-time Quote.-39.20%
COMPAGNIE FINANCIÈRE RICHEMONT SA 0.68% 62.64 Delayed Quote.-17.64%
DELTA AIR LINES, INC. 5.61% 27.09 Delayed Quote.-53.68%
DEUTSCHE BANK AG 2.45% 8.825 Delayed Quote.27.58%
FACEBOOK 0.23% 245.07 Delayed Quote.19.40%
FORTUM OYJ 1.67% 17.34 Delayed Quote.-21.18%
GENERAL MOTORS COMPANY 4.14% 24.39 Delayed Quote.-33.36%
HAPAG-LLOYD AKTIENGESELLSCHAFT 1.72% 53.1 Delayed Quote.-30.59%
JD.COM, INC. -2.60% 65.61 Delayed Quote.86.23%
JUST GROUP PLC 2.25% 49.06 Delayed Quote.-37.90%
PNC FINANCIAL SERVICES GROUP, INC. 2.78% 101.6 Delayed Quote.-36.35%
REPLY S.P.A. -0.27% 72.95 Delayed Quote.5.04%
SOLVAY SA 1.43% 70.84 Delayed Quote.-31.42%
THE GLOBAL LTD. -3.30% 205 End-of-day quote.-56.48%
THE NEW HOME COMPANY INC. 2.16% 3.31 Delayed Quote.-28.97%
WILL GROUP, INC. -2.52% 618 End-of-day quote.-50.64%

Romain Fournier
© MarketScreener.com 2020
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