Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.
SK Goes All-in on Chips
Following a series of annual strategy meetings led by Chairman Chey Tae-won, SK Group [034730:KS] announced that its semiconductor unit, SK Hynix [000660:KS], will invest ₩103trn through 2028. Some 80% of this total will go towards its high-bandwidth memory chip business. Meanwhile, South Korea’s export growth increased last month, Bloomberg reported, driven by international demand for semiconductors.
EU Expands Tech Crackdown
One week after accusing Apple [AAPL] of breaking rules laid out in its Digital Markets Act, the EU has launched a similar case against Facebook parent Meta [META]. Issued on Monday, preliminary findings expressed concern regarding Meta’s “pay or consent” model, whereby Facebook and Instagram users can pay to keep their data private. Regulators said this model presents a financial barrier, creating a false alternative for consumers who are compelled to use the services, reported the Financial Times.
June Was a Good Month for Chinese EV-Makers
NIO [NIO] delivered 21,209 smart electric vehicles (EVs) in June, a year-over-year increase of 98.1%, Seeking Alpha reported; NIO’s deliveries in Q2 were up 143.9%. XPeng [XPEV], meanwhile, delivered 10,668 smart EVs in June, a 24% jump year-over-year. Lastly, Li Auto [LI] delivered 47,774 units in June, up 46.7% year-over-year. “Li Auto has reclaimed the top spot in sales among China’s emerging new energy auto brands”, commented Chairman and CEO Xiang Li.
Which Pharma Did Best in Q2?
Alnylam Pharmaceuticals [ALNY] performed better than any other large-cap pharma or biotech in Q2, Seeking Alpha detailed, with a 62.6% share price rally across Q2. Elsewhere, French drugmaker Sanofi [SNY] is set to make an investment of up to €1.5bn at a major production site in Frankfurt, Germany, according to German newspaper Handelsblatt, as covered by Reuters. The company produces its insulin brand Lantus at the site.
Boeing-Spirit Deal Details Finalised
Having spun off Spirit AeroSystems [SPR], the world's largest standalone aerostructures company, back in 2005, Boeing [BA] is now to buy it back for $4.7bn in stock, while Airbus [AIR:PA] will take on the supplier’s loss-making European wing. “Bringing Spirit and Boeing together will enable greater integration of both companies' manufacturing and engineering capabilities, including safety and quality systems,” said Spirit CEO Pat Shanahan in a statement.
Disclaimer Past performance is not a reliable indicator of future results.
CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.
CMC Markets does not endorse or offer opinion on the trading strategies used by the author. Their trading strategies do not guarantee any return and CMC Markets shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein.
*Tax treatment depends on individual circumstances and can change or may differ in a jurisdiction other than the UK.
Continue reading for FREE
- Includes free newsletter updates, unsubscribe anytime. Privacy policy
