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Glynn's Take: Woe to Those Signing Up to the New RBA Board

news.movim.eu / TheWallStreetJournal • 21 April, 2023

Australian Treasurer Jim Chalmers moved to retool the country’s central bank this week by throwing out its old policy-setting board in favor of a modernized committee of experts that will look and operate a lot like similar bodies at the Bank of England and the Bank of Canada.

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Oil Price Set for 6% Drop in a Week as Refinery Margins Slip

news.movim.eu / TheWallStreetJournal • 21 April, 2023

Oil prices were set for their first decline in a week since March, with Brent on course for a decline of more than 6%, as refinery margins were flashing warning signals about the health of the global economy.

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Recent Highs in Eurozone Government Bond Yields Might Attract Investors

news.movim.eu / TheWallStreetJournal • 21 April, 2023

As 10-year Bund yields have reached 2.50%, 10-year French OAT yields reached 3% and 10-year Italian BTP yields move towards the top end of this year’s 4-4.50% range, “investors are being tempted to add to duration and ‘buy the dips’,” Societe Generale said.

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UK Retail Sales Drop as High Inflation Weighs

news.movim.eu / TheWallStreetJournal • 21 April, 2023

U.K. retail sales volumes dipped 0.9% in March, more than expected, and marked the first fall since December 2022, reflecting that cost-of-living pressures from high inflation are weighing on household spending.

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Glencore Met Guidance, Backs Outlook

news.movim.eu / TheWallStreetJournal • 21 April, 2023

Glencore said its first-quarter production largely met expectations, with declines across copper, zinc, nickel, and coal, and retained its 2023 guidance.

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EssilorLuxottica Boosted By Developing Regions

news.movim.eu / TheWallStreetJournal • 21 April, 2023

EssilorLuxottica reported a first-quarter revenue of €6.2 billion, beating consensus, supported by growth in Latin America and Asia Pacific regions.

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Tele2 Backs Guidance

news.movim.eu / TheWallStreetJournal • 21 April, 2023

Tele2 reiterated its full-year and midterm targets after posting unchanged first-quarter underlying earnings as revenue growth and cost savings were offset by inflation pressures.

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SAP Updates Guidance on Qualtrics Divestment

news.movim.eu / TheWallStreetJournal • 21 April, 2023

SAP revised its outlook for the year to account for the stake in Qualtrics International that it is divesting as the group continues to focus on its cloud business, the main driver of revenue growth in the first quarter.

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Holcim Lifts Guidance After First Quarter Beat

news.movim.eu / TheWallStreetJournal • 21 April, 2023

Holcim raised its sales guidance for 2023, expecting growth of more than 6%, after reporting first quarter earnings that fell compared with last year but exceeded consensus expectations.