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.
Apple headset reinvigorates mixed reality
Virtual (VR) and augmented reality (AR) companies have received a boost following the release of Apple’s [AAPL] Vision Pro headset. US-based AR, VR and mixed reality start-ups raised $208m in June, close to the amount raised in the previous three months combined, according to data from PitchBook reported by the Financial Times. Ori Inbar, founder of the early-stage AR fund Super Ventures, said the data proved “that mixed reality is not a fad”.
Restructuring paves way for Ant IPO
Ant Group’s long-delayed flotation plans could be back in contention as the company plans a restructure that will see certain non-core divisions broken off. Its blockchain, database management services and international business will likely be spun out, enabling it to pursue a single Hong Kong listing, as opposed to the dual listing with Hong Kong and Shanghai it had previously attempted.
Hyundai sees revenues accelerating
Hyundai [005380.KS] raised revenue and profit targets after an earnings beat on Tuesday, with increased demand for its premium models driving the outperformance. The South Korean automaker anticipates sales rising as much as 15% year over year. Nissan [7201.T] has finalised plans to invest up to €600m ($663m) into Renault’s [RNO.PA] Ampere electric vehicle (EV) project.
Battery maker CATL reports supercharged profits
Elsewhere in EVs, battery maker Contemporary Amperex Technology Co. Ltd [300750.SZ] saw net income rise 63% year over year to ¥10.9bn ($1.5bn) in the latest quarter, according to Bloomberg calculations on its half year results announced Tuesday. Growing demand for EVs alongside stabilising lithium prices were credited for the rise, with revenues rising 56% to ¥100bn.
Big tech AI spending set to rise
Microsoft and Alphabet [GOOGL] both warned of rising investment costs on the horizon as demand for artificial intelligence (AI) services increases. Both companies displayed unexpected core business resilience in Tuesday’s second quarter earnings announcements, with Alphabet’s revenue exceeding expectations and delivering a 7.1% premarket share price bounce on Wednesday. A slowdown in cloud computing demand weighed on Microsoft’s sales growth, sending its stock down 4% in premarket trading.
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
