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☆ Telefonica chairman says consolidation is needed in European telecom space
▼ + stars: | 2024-07-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTelefonica chairman says consolidation is needed in European telecom spaceJosé María Álvarez-Pallete López, chairman of Telefonica, says he would like to see deregulation in the Spanish market.

Persons: López Organizations: Telefonica Locations: Spanish

Jensen Huang, co-founder and chief executive officer of Nvidia Corp., displays the new Blackwell GPU chip during the Nvidia GPU Technology Conference on March 18, 2024. Nvidia shares popped more than 11% Wednesday after remarks from top customer Microsoft and rival chipmaker AMD signaled there wouldn't be a slowdown in the multibillion-dollar buildout of AI servers based around GPUs. Microsoft CEO Satya Nadella and finance chief Amy Hood said Tuesday the company plans to spend even more on Nvidia-based infrastructure next year. Microsoft spent $19 billion on capital expenditures during the fiscal fourth quarter, with about 60% on hardware. Nvidia has been the primary beneficiary of the AI boom.

Persons: Jensen Huang, Satya Nadella, Amy Hood, Microsoft's capex, Karl Keirstead, Morgan Stanley, Joseph Moore, Moore, Blackwell, Blackwell ramping Organizations: Nvidia Corp, Blackwell, Nvidia, Technology, Microsoft, AMD, UBS

☆ Verizon sees early success using generative AI to answer questions from business customers
▼ + stars: | 2024-07-30 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +6 min

Verizon uses generative AI to reduce the workload from its high volume of business-related calls. Debika Bhattacharya, the chief technology-solutions officer at Verizon Business, said Verizon received 170 million calls from business and individual customers every year. Last year, the company added generative AI as another layer to help reduce the demands on customer-service agents and answer clients' questions faster. AI in actionIncorporating generative AI into its business-to-business customer-service strategy helps agents answer questions and resolve issues faster, Bhattacharya said. Bhattacharya said it's too early to share data about how generative AI was improving Verizon's business customer service.

Persons: —, Debika Bhattacharya, Bhattacharya, it's Organizations: Verizon, Service, Verizon Communications, Fortune, Verizon Business, hyperpersonalization, Telecom Locations: New York City

☆ Dubai set to welcome even more millionaires as wealthy individuals abandon the UK
▼ + stars: | 2024-07-30 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

The United Arab Emirates is on track to be the world's top wealth magnet for the third year running, according to the Henley Private Wealth Migration Report. "There are push and pull factors for this trend of millionaires opting to relocate to Dubai," Karim Jetha, a longtime regional investor who relocated to the UAE from the U.K. during the pandemic, told CNBC. "Pull factors include Dubai's perception of being extremely safe and visa reforms that encourage migration." The UAE is set to see a record net inflow of 6,700 millionaires from around the world by the end of 2024, according to the Henley report, which was released in June. That's nearly double the second-ranked country on the list, the U.S., which is expected to welcome a net inflow of 3,800 millionaires in the same time frame.

Persons: –, Karim Jetha, Henley, That's Organizations: United, Henley, Wealth, UBS, Labour Party, CNBC, Labour Locations: United Arab Emirates, Swiss, Dubai, sandier, UAE, U.S

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Roblox, Netflix, Amazon, Tesla, McDonald's, Affirm & more
▼ + stars: | 2024-07-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Loop initiates BrightView as buy Loop said it's bullish on shares of the commercial landscaping company. Evercore ISI reiterates Apple as outperform Evercore said it's bullish ahead of Apple earnings later this week. " Bank of America reiterates Roblox as buy Bank of America said it's standing by Roblox ahead of earnings on August 1. Deutsche Bank reiterates McDonald's as buy Deutsche said it's standing by the fast food giant following earnings. Bank of America reiterates Goldman Sachs as buy Bank of America said top pick Goldman Sachs has "cyclical/secular tailwinds."

Persons: Evercore, it's, Jensen Huang, Nvidia's Blackwell, Blackwell, KBW, Oppenheimer, Wells, Roblox, Tesla, McDonald's, Baird, Edward Jones, Goldman Sachs, ROE resiliency, Morgan Stanley, Wells Fargo Organizations: Apple, Citi, Nvidia, " Bank of America, of America, Barclays, UBS, Amazon, Netflix, Bank of America, JPMorgan, RBC, Tesla, Deutsche Bank, Deutsche, Whirlpool, underperform Bank of America, Abbott Laboratories, Abbott Labs, Edward, Stock, 2Q, PNC, WF

☆ Sotheby’s expands Hong Kong footprint with cavernous new exhibition and retail space
▼ + stars: | 2024-07-29 | by ( Oscar Holland | ) edition.cnn.com time to read: +5 min

CNN —A fossilized mammoth skull, centuries-old ceramics and Banksy’s famous self-shredding painting are among hundreds of high-value collectibles on show at Sotheby’s ambitious new retail outpost in Hong Kong. With younger collectors seemingly in mind, items on the first floor range in price from 5,000 to 50 million Hong Kong dollars ($640 to $6.4 million). The venture is the latest signal that major auction houses still consider Hong Kong to be their long-term hub in Asia. In June, Hermès also unveiled its expanded retail space in the neighborhood. It has simultaneously sought to grow its footprint in Hong Kong — not only with its newly unveiled Maison, but also a nearby 36,000-square-foot regional headquarters, due to open later this year.

Persons: Maison, Hong Kong, Art Basel’s, Isaac Lawrence, Louis Vuitton, Hermès, Sotheby’s, Patrick Drahi, Hong Kong —, Christie’s, Zaha Hadid’s, Phillips, Bonhams, Nathan Drahi Organizations: CNN, Hong Kong, UBS, Art, Art Basel, Getty, PricewaterhouseCoopers, Louis, Sotheby’s Locations: Hong Kong, Central, Asia, China, Hong, Hong Kong's Central, AFP, London, Singapore, Shanghai, Sotheby’s, Sotheby’s Asia, Paris, New York

☆ Ford, GM, Stellantis face a daunting second half of 2024
▼ + stars: | 2024-07-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

Stock Chart Icon Stock chart icon Ford, GM and Stellantis shares"Investors who think autos can outperform on + earnings beats and buybacks should think again. GMFor GM, investors balked at pullbacks in growth businesses, waning upside during the second half of the year, and fear that the automaker's earnings power has peaked, according to Wall Street analysts. Selling more EVs is one reason that GM, which has raised its annual financial guidance twice this year, expects the second half to underperform the first. The new Ford F-150 truck goes through the assembly line at the Ford Dearborn Plant on April 11, 2024 in Dearborn, Michigan. StellantisTransatlantic automaker Stellantis arguably faces the most challenging second half of the year, particularly regarding its U.S. operations.

Persons: Ram, Joe Raedle, Morgan Stanley, Adam Jonas, Jonas, Stellantis, GM's, Mary Barra, Ford, Ford doesn't, Joseph Spak, Bill Pugliano, John Lawler, Lawler, Carlos Tavares, Remo Casilli Organizations: Dodge Chrysler, Getty, DETROIT, Ford, Detroit automakers, GM, Wall Street, Analysts, Street, UBS, Ford Dearborn Plant, Ford Pro, Transatlantic, Stellantis Locations: Miami , Florida, U.S, China, Dearborn , Michigan, Atessa, Italy

☆ Yields on cash are likely to drop. Put money to work here instead, Janus Henderson says
▼ + stars: | 2024-07-29 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Investors who are camped out in cash are nabbing sweet yields, but the clock is ticking on that attractive income. Money market fund assets totaled $6.14 trillion as of the week ended July 24, according to the Investment Company Institute . The largest money market funds are offering an annualized 7-day current yield of 5.12%, per the Crane 100 Money Fund Index. "Investors must also remember that the liquid securities held in money market funds have maturities capped at slightly over a year," he said. While these short-term bonds may be an attractive alternative to hiding out in cash, investors should avoid making them the lion's share of their fixed income holdings.

Persons: Daniel Siluk, Janus Henderson, Matthew Mish, Siluk Organizations: Investment Company Institute, Federal, UBS, SEC, BBB, Treasury Bond ETF

☆ 'Rate cut winners': Barclays names global stocks to buy when interest rates are cut
▼ + stars: | 2024-07-29 | by ( Ganesh Rao | ) www.cnbc.com time to read: +1 min

Barclays has identified a list of global stocks poised to benefit as central banks in Europe and the U.K. prepare to cut interest rates. The European Central Bank and the Bank of England are expected to continue, or begin, reducing interest rates in the second half of this year, continuing into 2025. Barclays economists project that by mid-2025, the ECB's key rate could reach 2.5%, while the Bank of England's rate might settle at 4%. Barclays included the following stocks in its "rate-cut winners basket", among which are: Cellnex Telecom, Royal KPN , Hermes , Zalando , and Siemens Healthineers . While banks are often thought to suffer from lower interest rates, Barclays suggests that any loss in earnings from lower rates could be partially offset by higher lending volumes and reduced provisions for bad loans.

Persons: Royal KPN, Matthew Joyce Organizations: Barclays, European Central Bank, Bank of England, Bank of, Cellnex Telecom, Royal, Siemens Locations: Europe

☆ Use the sell-off in tech stocks as a chance to buy the dip, UBS says
▼ + stars: | 2024-07-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

UBS sees the recent tech stock sell-off as a buy-the-dip opportunity for long-term investors. UBS cites attractive valuations, solid fundamentals, and fading technical factors as reason to stick with large-cap tech. But according to UBS, the recent decline in tech stocks is only temporary, and that should be apparent when mega-cap tech stocks report their second-quarter earnings results later this week. A healthy sell-off in tech stocks has led to more attractive valuations for the fast-growing sector, especially when compared to previous bubbles. "While the tech sector appears to be expensive after the rally this year, price-to-earnings multiples remain much lower than in the dot-com era, when many tech stocks had much lower-quality earnings," UBS said.

Persons: —, Sundar Pichai Organizations: UBS, Service, Nasdaq, Apple, Microsoft

☆ Family offices are giving top staff equity and profit shares in battle for talent
▼ + stars: | 2024-07-29 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

Family offices, the private investment arms of single families, are also shifting to profit shares as a way to better align the incentives of the staff with the family. "Family offices are competing for talent against each other, and against traditional private equity, hedge funds and venture capital." Family offices are increasingly offering lucrative shares of equity and deal profits to staff amid a growing battle for talent, according to a top family office attorney. They often pair co-investments with profit shares to create both upside and potential downside to staff. Because they serve a single family, family offices have more flexibility than many companies when it comes to designing pay plans.

Persons: McCurry, Patrick McCurry, McDermott Will, Emery, they're, Robert Frank, that's Organizations: UBS, Office Locations: Chicago

☆ These drugmakers are catching up to Eli Lilly and Novo Nordisk in weight loss treatments
▼ + stars: | 2024-07-28 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +6 min

With billions at stake, that's pretty much been a guarantee facing the current market leaders, Eli Lilly and Novo Nordisk , from the start. Their updates are likely to be joined by others in the coming months even as today's incumbents develop their own next-generation weight loss treatments. Other analysts have also grown more optimistic about the future of weight loss treatments. Orforglipron, a once-a-day oral GLP-1 drug that Lilly is working on, had shown a 3% weight loss at 4 weeks. The company is also exploring whether the weight loss treatment could be given only once a month.

Persons: Eli Lilly, drugmakers Roche, Lilly, Denmark's, Trung Huynh, Huynh, Rajesh Kumar, Kumar, Novo, Roche, Roche ADRs, Justin Zelin, Zelin, Viking's, HSBC's Kumar, Novo aren't, —, Nick Wells Organizations: Novo Nordisk, Viking Therapeutics, UBS, HSBC Global Research, Carmot Therapeutics, Food and Drug Administration, Viking, European Association for, Diabetes, Pfizer, Amgen, Therapeutics Locations: Swiss, Novo, San Antonio, Spain

☆ China just expanded its efforts to boost consumption. Here are some stocks to watch
▼ + stars: | 2024-07-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

China has, in its own way, signaled it wants to support specific kinds of consumer purchases. Authorities on Thursday announced the equivalent of 300 billion yuan ($41.5 billion) in special bonds would go towards trade-ins and equipment upgrades — a significant expansion of an existing program. The 300 billion yuan ultra-long bond issuance is not a new government allocation, but rather a more detailed designation of a 1 trillion yuan ultra-long bond program announced earlier this year. "300 billion yuan is the largest equipment upgrade subsidy from the central government historically," the analysts said. Even the 300 billion yuan figure is split roughly between consumer-related trade-ins with business-side equipment upgrades.

Persons: Ding, Morgan Stanley, Tao Wang, Darius Tang, Corporates, Fitch Bohua, Michael Bloom Organizations: China Asset Management Co, UBS Investment Bank Locations: China, Beijing, Asia

GLD 5Y mountain GLD The SPDR Gold Shares ETF is the world's largest, with BlackRock's iShares Gold Trust and iShares Physical Gold ETC the second and third, respectively. Other top physical gold ETFs include the Borse Commodities GmbH Xetra-Gold and the SPDR Gold MiniShares Trust . Gold mining ETFs Buying gold mining ETFs — which own shares of multiple gold mining companies — is another way to get exposure to gold, and Meyer described those backed by large banks as "relatively safe," in an email to CNBC. "Even though gold equities respond to changes in gold price, the degree of that response has deteriorated over time," he said, adding that the risks and costs of gold extraction can weigh on miners. A selection of gold bars and one-ounce gold coins at Gold Investments Ltd. bullion dealers in London, UK, on Tuesday, May 21, 2024.

Persons: Tom Price, Price, Berenberg, Robin Bhar, Amy Arnott, John Meyer, Colin Hamilton, BlackRock's, Meyer, Barrick Gold Panmure Liberum, George Milling, Stanley, they're, Morningstar's Arnott, Bhar, Chris Ratcliffe Organizations: CNBC, Panmure, Bank of America, Citi, UBS, Gold, Morningstar, SP, CNBC Pro, Royal Mint, BMO Capital Markets, Borse Commodities, MiniShares, Gold Miners ETF, Miners, Barrick, Resolute Mining, Hochschild, Caledonia Mining, Barrick Gold Panmure, Endeavour Mining, Endeavour, Pan, Resources, State Street Global Advisors, Gold Investments, Bloomberg, Getty Locations: Panmure Liberum, U.S . New York, United States, U.S, Hochschild Mining, Zimbabwe, London, West Africa, Berenberg

☆ UBS' Paul Donovan on U.S election, the economy and its industry policy
▼ + stars: | 2024-07-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUBS' Paul Donovan on U.S election, the economy and its industry policyPaul Donavan from UBS Global Wealth Management joins Asia Squawk Box to discuss a wide range of issues facing global economy.

Persons: Paul Donovan, Paul Donavan Organizations: UBS, UBS Global Wealth Management, Asia

☆ Chinese EV startups are spending more on research than Tesla is
▼ + stars: | 2024-07-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

CNBC | Evelyn ChengBEIJING – U.S.-listed Chinese electric car companies are spending more on research as a ratio to sales than Tesla , according to CNBC analysis of the four automakers' first-quarter earnings. Of the four U.S.-listed Chinese electric car companies, Nio ranked first, spending nearly 29% of revenue in the first three months of the year on research and development. He was referring to a popular term in China to describe fierce competition, especially in the electric car industry. She noted that can help Chinese electric car companies respond more quickly to customers and market needs than traditional automakers. Geely has also released an electric car architecture called SEA that it says allows for quicker production of different sized vehicles.

Persons: Evelyn Cheng, Paul Gong, Nio, Elon, Feng Shen, Shen, William Li, Li, Jing Yang, Zeekr's, Parent, Ren Xiangfei, Ren, Geely, Tesla, Taylor Ogan Organizations: CNBC, UBS, Elon Musk's, Ford Motor, China's Ministry of Industry, Information Technology, Fitch, China Passenger Car Association, Snow Bull, Tech Locations: Hefei, Evelyn Cheng BEIJING – U.S, U.S, China, Nio, Hefei city, Anhui, Shanghai, Asia, Pacific, Zhejiang province, Hong Kong, Shenzhen

☆ 3 dividend-paying stocks with attractive charts as broader market struggles
▼ + stars: | 2024-07-25 | by ( David Keller | ) www.cnbc.com time to read: +4 min

A subsequent pullback saw the price bounce off that breakout level, which also lined up with the 50-day moving average. This is a sector full of low-volatility, high yielding stocks that have often provided downside protection in down market phases. ES just broke to a new three-month high this week, and the stock features a dividend yield around 4.5%. When the broad market averages take a bearish turn, equity investors are often best served by getting defensive. These three stocks feature improving technical profiles, along with dividend yields well above the average for the S & P 500.

Persons: Philip Morris, BTI, Eversource, we've, David Keller Organizations: American Tobacco PLC, Eversource Energy, Eversource, Nasdaq, CMT, CNBC, NBC UNIVERSAL Locations: U.S, British American

☆ India likely to ease curbs on some Chinese investments, Reuters reports
▼ + stars: | 2024-07-25 | by ( ) www.cnbc.com time to read: +1 min

A view of the Mumbai Coastal Road project is seen in Mumbai, India, on April 3, 2024. India is likely to ease restrictions on Chinese investment in non-sensitive sectors like solar panels and battery manufacturing where New Delhi lacks expertise and which hinders domestic manufacturing, two government sources said. The government plans to free up sectors to Chinese investment that it deems less sensitive from a security point of view, said one of the officials, who did not want to named. The plans mark a first step in improving economic ties between the two neighbors, a relationship that worsened after clashes in the remote Himalayan border in 2020, after which India tightened scrutiny on investments from Chinese companies. The non-critical sectors "would be decided on a case-to-case basis," the second official said, but curbs on Chinese investments in electronics and telecom would continue.

Locations: Mumbai, India, Delhi

☆ AT&T beats estimates for subscriber additions on demand for higher-priced plans
▼ + stars: | 2024-07-24 | by ( ) www.cnbc.com time to read: +1 min

Pedestrians walk by a logo in front of an AT&T store on June 20, 2023 in San Francisco, California. AT&T exceeded market expectations for wireless subscriber additions in the second quarter on Wednesday, as the telecom operator's higher-tier unlimited plans attracted customers. The company added 419,000 monthly bill-paying wireless phone subscribers, compared with expectations of 284,800 additions, according to five analysts polled by FactSet. AT&T's unlimited plans that are usually priced lower than those of rivals have helped the company add budget-conscious customers amid tough competition from T-Mobile and Verizon . AT&T, one of the largest telecom operators in the U.S., was troubled by data breaches and hours-long outages this year.

Organizations: FactSet, Mobile, Verizon, Mobility, U.S . Federal Communications Commission Locations: San Francisco , California, U.S

☆ UniCredit tops profit forecast, buys cloud-based bank
▼ + stars: | 2024-07-24 | by ( ) www.cnbc.com time to read: +1 min

Italian bank UniCredit on Wednesday posted better-than-expected second quarter profit and said it was buying a Belgian digital bank with its own cloud-based IT platform for 370 million euros ($401 million). UniCredit said the purchase of Belgian bank Aion and its cloud-based core banking system Vodeno would add a team of 200 engineers, developers and data scientists. To address this, UniCredit's rival Intesa Sanpaolo for example is partnering with British cloud banking technology provider ThoughtMachine. "The transaction represents one of the first moves by a bank to acquire full ownership of a new technology (without any dependencies from third party core banking providers)," UniCredit said. Net profit in the second quarter rose 5% from the previous three months to 2.7 billion euros, surpassing a 2.4 billion euro average forecast from analysts polled by the bank as revenues held up better than anticipated.

Persons: Andrea Orcel, UniCredit, Banks, Intesa Sanpaolo Organizations: UniCredit, UBS, Banco, Belgian Locations: Belgian, Aion

☆ Wall Street analysts see more downside ahead for Tesla as latest earnings report lacks 'razzle dazzle'
▼ + stars: | 2024-07-24 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Wall Street is bracing for a rocky road ahead for shares of Tesla on the heels of a messy second-quarter print. That week Tesla shares rallied more than 27% to briefly erase a year-to-date loss . UBS analyst Joseph Spak noted the current stock price reflects a investors ascribing a "hefty value" to these plans. His $120 price target implies about 28% downside from Tuesday's close. Piper Sandler's Alexander Potter upped his price target to $300 from $205 a share, citing expectations for a faster-than-expected rollout of full self-driving (FSD) capabilities.

Persons: Tesla, Wells Fargo's Colin Langan, Cantor Fitzgerald, Pierre Ferragu, Goldman Sachs, Mark Delaney, Delaney, Joseph Spak, Spak, Toni Sacconaghi, Piper Sandler's Alexander Potter, Baird's Ben Kallo, Stephen Gengaro Organizations: Tesla, UBS, EV Locations: 1H25

☆ ServiceNow raises annual subscription revenue forecast on robust demand; COO resigning after government contract complaint
▼ + stars: | 2024-07-24 | by ( ) www.cnbc.com time to read: +1 min

ServiceNow raised its full-year subscription revenue forecast on Wednesday as its enterprise customers adopt artificial intelligence-enabled cloud-based software. A burgeoning demand for workflow automation and the company's continued efforts in generative AI helped ServiceNow drive growth. The company projected full-year subscription revenue between $10.575 billion and $10.585 billion, above analysts' estimate of $10.565 billion, according to LSEG data. It had previously projected between $10.560 billion and $10.575 billion for full-year subscription revenue. On an adjusted basis, the company earned $3.13 per share during the quarter, compared with estimates of a profit of $2.84 per share.

Persons: ServiceNow, CJ Desai Organizations: U.S . Army Locations: Prodapt

☆ Investing experts: Lock in a guaranteed 5% return before the Fed slashes interest rates
▼ + stars: | 2024-07-23 | by ( Ryan Ermey | ) www.cnbc.com time to read: +2 min

With inflation finally beginning to cool of late, experts expect the Federal Reserve to begin trimming its benchmark interest rate. For savers, it means earning less on interest-paying vehicles such as bonds, cash accounts and certificates of deposit. Versions of all three vehicles currently offer guaranteed interest rates north of 5%. Why it makes sense to lock in higher rates nowFor years, when interest rates were near zero, it was hard to earn practically anything on a short-term bond or cash account. "I do think that leads to interest rate cuts in the U.S. [in the second half of 2024].

Persons: It's, Amy Arnott, we've, Arnott, Christopher R, Jackson, You've, That's Organizations: Federal Reserve, Morningstar Research Services, Treasury, UBS Wealth Management Locations: U.S

☆ The big rotation trade is from cash to stocks - and it could help push the S&P 500 up 17% by year-end, UBS says
▼ + stars: | 2024-07-23 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

UBS said a major rotation from cash and bonds into stocks could happen later this year. UBS' Jason Draho reiterated his bull case for the S&P 500 to rise 17% into year-end. AdvertisementThe cash-to-stocks trade is the more durable rotation investors should be watching, UBS said. "We still recommend that investors position for lower rates, seek quality growth stocks, and seize the AI opportunity," Draho said. There will be a rotation trade in that scenario, but from cash and bonds into stocks," Draho said.

Persons: Jason Draho, —, there's, Draho, it's Organizations: UBS, Service, Federal Reserve

☆ Porsche shares fall 5% after automaker cuts 2024 outlook on aluminium alloy shortage
▼ + stars: | 2024-07-23 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

Shares in automaker Porsche fell on Tuesday after the company cut its 2024 outlook, saying various suppliers were affected by a shortage of special aluminium alloys. Holding company Porsche SE was last down over 3%. Porsche said that a series of its suppliers were impacted by a "significant supply shortage with regard to special aluminium alloys." The shortage is linked to flooding in a production facility of a key European aluminium supplier, Porsche explained. "Despite immediate countermeasures, it is becoming apparent that the impending supply shortage will lead to impairments in production," Porsche said.

Persons: Porsche Organizations: Volkswagen, Porsche, UBS Locations: Stuttgart, Swiss, Zrich, Switzerland, London

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