US MARKETS:

S&P 500 futures up 0.2% to 3,083.25

Brent futures up 0.8% to $62.63/bbl

Gold spot down 0.4% to $1,504.42

US Dollar Index little changed at 97.54

 

GLOBAL NEWS:

Earnings season. Intesa Sanpaolo, Telefonica, Vonovia, Endesa, Coloplast, Evonik, Orpea, Fidelity National, Becton, Allergan, Softbank and Emerson Electric are among companies reporting earnings today.

Not happening. ArcelorMittal decided not to buy Ilva after the Italian government's contradictory decisions. The largest steel mill in Europe, in serious financial difficulty and an environmental disaster, had been taken over on condition that the Italian authorities protect ArcelorMittal against the criminal consequences of the previous pollution of the site. The disappearance of this guarantee, called into question by the new transalpine government, pushed the group to throw in the towel, despite the executive's attempts to back-pedal.

Review of corporate results. Uber suffers after the session following disappointing results, while Marriott International also suffers, but to a lesser extent, after mixed results. Suzuki Motor's results are down, weighed down by India.

Adecco sells Soliant Health. The Swiss company will sell its American medical business, Soliant Health, to Olympus Partners for €551 million. This decision was taken as part of Adecco's strategy to focus on global brands and digital solutions. Soliant generated $344 million in revenue in its last fiscal year, for $54 million in Ebitda. The transaction, which will be completed by the end of the first quarter of 2020, should generate small capital gains.

Pandora warns. The Danish jeweler has lowered its sales and profit forecasts for 2019. In an attempt to appease investors, it also raised its cost savings projections. Pandora has been going through a complicated process for several quarters. 

In other news. Vale's CEO reportedly ignored an anonymous message about the state of the group's dams in Brazil, before one of them gave in and caused a deadly disaster. After the departure of its CEO, McDonald's also lost its Human Resources Manager. Under Armour lost nearly 19% yesterday on the stock market, after the announcement of a tax investigation. Samsung will close a processor research unit in the United States. Xerox will sell its shares in its joint venture with Fujifilm to Japan for $2.2 billion. Evonik reduces his forecasts.