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European stocks traded lower in the premarket on Wednesday as countries across the continent continued their way of restarting the economy as soon as possible. Commenting on the situation, Russia's Foreign Minister Sergey Lavrov insisted the battle against the pandemic shouldn't be turned into a "geopolitical game."

In business news, Volkswagen CEO Herbert Diess and Chairman Hans Dieter Poetsch agreed to pay €4.5 million each to settle criminal charges related to the Dieselgate scandal.

The DAX slipped 0.25% at 7:38 am CET, while the FTSE 100 concurrently lost 0.34%.

The euro gained 0.18% against the dollar to sell for $1.09427 at 7:39 am CET, while the pound advanced 0.07% versus the greenback to go for $1.22607 at the same time.

Breaking the News / ND

European stock markets traded lower on Wednesday as countries across the continent continued their way of restarting the economy as soon as possible. Commenting on the situation, Russia's Foreign Minister Sergey Lavrov insisted the battle against the pandemic shouldn't be turned into a "geopolitical game." In business news, Volkswagen CEO Herbert Diess and Chairman Hans Dieter Poetsch agreed to pay €4.5 million each to settle criminal charges related to the Dieselgate scandal.

The DAX slipped 0.25% at 7:38 am CET, while the FTSE 100 concurrently lost 0.34%.

The euro gained 0.18% against the dollar to sell for $1.09427 at 7:39 am CET, while the pound advanced 0.07% versus the greenback to go for $1.22607 at the same time.

Breaking the News / ND

Open letter to Julian Dunkerton.

“Julian, please prove Caroline Gulliver’s calendar projection way too lengthy.
We’ve every faith in you, put in earnest effort and the market (both stock and clothing) will roll and ecstasy at your feet.”
I see a Sunday Times headline;
“CEO & founder Julian Dunkerton leads Superdry to a five star recovery.”

Jefferies expects Superdry turnaround in 2022

The turnaround at fashion brand Superdry (SDRY) will be ‘bumpy’ but Jefferies says it has appealing rewards.

Analyst Caroline Gulliver reiterated her ‘buy’ recommendation but reduced her target price from 300p to 230p. The shares rose 1.5% to 118.3p yesterday.

Despite store closures from the Covid-19 pandemic coming on top of January’s profit warning, Gulliver said ‘the current market capitalisation of under £100m and enterprise value of under £60m, undervalues Superdry’s potential’.

She is forecasting a loss of £31m this year and £12m next year but said expects ‘Superdry to live to fight another day, with improved product ranges and social media campaigns’.

‘As stores start to reopen across Europe, Superdry’s recent update strikes a positive tone as the cash burn has been limited to only £1m to £2m a week during lockdown,’ she said.

‘We do not expect a recovery until 2022 but trading on only 4.1 times our calculated 2021 earnings per share, we reiterate our “buy”.’

https://citywire.co.uk/funds-insider/news/the-expert-view-superdry-polypipe-and-compass/a1358448

European stocks were higher in premarket trading on Tuesday picking up on positive sentiment from across the Atlantic. US stocks soared on Monday after Moderna reported positive results from the early-stage trials of its coronavirus vaccine candidate.

The FTSE 100 added 0.31% at 7:31 am CET, the DAX rose 0.40% and the CAC 40 climbed 0.43% at the same time.

The euro traded flat against the dollar to sell for 1.09138 at 7:32 am CET and the pound gained 0.09% compared to the US currency to go for 1.22052 at the same time.

Breaking the News / NP

European stocks were higher in premarket trading on Tuesday picking up on positive sentiment from across the Atlantic. US stocks soared on Monday after Moderna reported positive results from the early-stage trials of its coronavirus vaccine candidate.

The FTSE 100 added 0.31% at 7:31 am CET, the DAX rose 0.40% and the CAC 40 climbed 0.43% at the same time.

The euro traded flat against the dollar to sell for 1.09138 at 7:32 am CET and the pound gained 0.09% compared to the US currency to go for 1.22052 at the same time.

Breaking the News / NP

I suppose in effect today’s broker comment is GCC actually a downgrade although the current price is quite low in comparison to the recommendation it obviously can be held responsible for the poor price action.

JEFFERIES CUTS SUPERDRY PRICE TARGET TO 230 (300) PENCE - 'BUY'

Last Tuesday Superdry was about 150p.
It’s strange that with the market flying today that sdry reacted so poorly.
On Friday the price at the close was 124 (@4:30) but then it went into auction which resulted in the official closing price being recorded at 116.6
I hope there’s nothing going on.
Up this morning to 125 and the market was only up 2% until the US opened at 2:30 and then the U.K. went 3,4%+
but Superdry’s price went flat.. all unusual when the pps was 150+ last week. Broker price guide announcements is the only official happening which could be held accountable.
I’m not selling for a while anyway but I don’t like strange unexplained trading .

HSBC RAISES BOOHOO PRICE TARGET TO 420 (370) PENCE - 'BUY'

JEFFERIES CUTS SUPERDRY PRICE TARGET TO 230 (300) PENCE - 'BUY'

Spain, Italy and France all ended their ban on short-selling on Monday.

All three countries banned short-selling for one month in March in response to the market selloff amid the coronavirus pandemic and extended the bans by another month with Spain citing "the persistence of risks and uncertainties for the evolution of the economy and the markets, including the high level of volatility."

Breaking the News / NP

Prices of oil went up on Monday with West Texas Intermediate (WTI) adding over 4% following optimistic signals coming from the Organization of the Petroleum Exporting Countries (OPEC) regarding crude demand improvement and the production cuts implementation.

OPEC Secretary-General Mohammed Barkindo asserted that OPEC + countries are "rapidly ramping up their level of compliance" with output reduction, adding that "the worst is behind us" when it comes to fall in global oil demand.

Meanwhile, the number of oil rigs in the United States decreased by 34 last week, Baker Hughes' latest report showed.

WTI for deliveries in June surged 4.25% to sell for $30.68 per barrel at 1:36 am ET, while Brent for July settlement gained 3.05% at 1:58 am ET, trading for $33.49 per barrel.

Breaking the News / GA

The price of gold in dollars advanced over 1% on Monday to reach the level last seen in January 2012, as extending coronavirus pandemic prompted investors to turn to safe-haven assets. Gold also rose to new record-highs in euros two times, first in April and then in May.

Spot gold in dollars was up 1.18% at $1,763.94 per ounce at 2:00 pm ET, while in euros it gained 1.23% to reach €1630.99 per ounce.

A minute later, platinum increased 2.31% to $812.18 per ounce and palladium jumped 4.09% to $1,954.58. Spot silver surged 3.42% to $17.22 per ounce at 2:01 pm ET.

Breaking the News / ND

Shares on major European stock markets soared in premarket trade on Monday as investors' worries over the coronavirus pandemic continued to subside.

Spain's daily death toll from the infection fell below 100 for the first time since March 16, while the United Kingdom marked the lowest increase in COVID-19 fatalities in nearly two months.

As the earnings season heats up, Ryanair said its revenue for fiscal 2020 rose 10% compared to the year prior to reach €8.49 billion.

The DAX in Frankfurt jumped 1.57% at 7:34 am CET, while the FTSE 100 surged 1.45% at the same time. The CAC 40 in Paris gained 1.51%.

The euro was virtually unchanged to go for $1.08203 at 7:36 am CET.

Breaking the News / GA

Shares on major European stock markets soared in premarket trade on Monday as investors' worries over the coronavirus pandemic continued to subside.

Spain's daily death toll from the infection fell below 100 for the first time since March 16, while the United Kingdom marked the lowest increase in COVID-19 fatalities in nearly two months.

As the earnings season heats up, Ryanair said its revenue for fiscal 2020 rose 10% compared to the year prior to reach €8.49 billion.

The DAX in Frankfurt jumped 1.57% at 7:34 am CET, while the FTSE 100 surged 1.45% at the same time. The CAC 40 in Paris gained 1.51%.

The euro was virtually unchanged to go for $1.08203 at 7:36 am CET.

Breaking the News / GA

After the money raising exercise over the last 24hrs there could well be some speculative coverage in the weekend press.

8. Superdry

Superdry has deployed 46 Hikrobots in its Burton-on-Trent distribution centre after a pilot project involving six of the robots in 2018.

Over 80,000 sq ft of the warehouse, which is operated by Clipper Logistics, is being set out with 1,000 transportable pick-wall modules and 12 pick-to-light stations to facilitate the adoption of the robots. The site will also feature QR codes on the floor for the robots to follow.

https://retailtechinnovationhub.com/home/2020/5/15/10-innovative-retail-technology-deployments-and-pilots

https://techhq.com/2020/05/superdry-enlists-robots-to-ramp-up-efforts-in-fulfillment-centers/

The prices of crude oil continued to grow on Friday as OPEC Secretary-General Mohammed Barkindo confirmed the organization and its allies are focused on fully implementing output cuts.

In the same statement, Barkindo revealed countries have continued to rapidly cut oil production as part of measures aimed at stabilizing the oil markets. The output cuts previously began at the start of May.

Brent for July settlement gained 1.99% at 10:33 am ET, selling for $31.73 per barrel, while West Texas Intermediate (WTI) for deliveries in June soared 5.15% a minute later to go for $28.98 per barrel.

Breaking the News / ND

The price of gold reached a record high against the euro on Friday, topping 1,612 per ounce for the first time after it jumped 0.64% as investors turn to safe-haven assets since the deterioration of the relations between the United States and China. Also, investors are estimating that the economy would take longer to recover due to COVID-19 impact on the global economy.

Today's data were also discouraging. Seasonally adjusted advance estimates of retail and food services sales for March in the United States dropped 16.4% while the seasonally adjusted gross domestic product (GDP) in the euro area decreased by 3.8% in the first quarter of 2020.

At 6:48 am ET, gold traded 0.41% higher to sell for €1,608.2850 per ounce.

Breaking the News / TF