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From Erste Group’s Equity Weekly: The global equity market index fell last week in EUR by – 0.2%. While there were some significant losses in Europe last week (-1.8%), the S&P 500 reached a new all-time high of 3,389 points. In Europe, the weaker than expected purchasing managers’ indices in particular depressed investor sentiment. In France, the EMI in particular, at 51.7 points, was well below market expectations of 57.0 points.
Global Oil & Gas Equity Index in particular remains under pressure. This year a profit decline of -72% is expected. In addition, the growth rates for 2021 show a falling trend in recent weeks. The oil price itself has remained at USD 45 (Brent) since the beginning of August. Should there be lockdowns in the developed markets due to the worsening COVID-19 situation, a correction is likely. The negative divergence of oil stocks in relation to the oil price is currently suggesting a close.
Record date at Tesla (hold) for the announced 1: 5 split. At Apple (Buy), the key date for the 1: 4 split is on Monday. The ex-split date for Apple and Tesla will be on Monday, August 31st. For Apple, this is the fifth split since the company’s IPO in 1980. For what is by far the most valuable automobile manufacturer, it is the first split since its IPO in 2010.
Outlook. No significant company results are expected next week. Investors will continue to pay attention to the Covid-19 infection numbers, especially in Europe. Technically, the resistance level from before the crisis is a clear obstacle for the S&P 500. We do not expect the index to overcome this without an interim correction.
Four continents in five years. Dyeing the Barça world and enriching yourself with the thousand and one experiences that different cultures teach you. Francesc Pujol from Girona will embark on a new adventure in Moscow as director of the Barça Academy, having visited Sydney, Cairo and Dubai. “At the end of June, the opportunity arose to join the Moscow academy and it is a challenge that I face with great enthusiasm,” he says.
At the age of 28, the coach of Torroella de Montgrí explains that “having been to different academies has given me an experience, although each context is different and seeing the world always attracts a lot. It’s a new culture and a new way of doing things, which I hope will make me better. ” Given the personal and professional growth that this entails, Pujol was immediately convinced to accept the challenge posed by the Barça club. Now, however, we will have to wait for the time to pack, which is being delayed because of the coronavirus: “It is an inconvenience because the borders are closed and it is more difficult to get a visa. This makes it impossible for me to arrive in Moscow today, but if all goes well around October I will be able to join on the field.
This is not the first time that COVID-19 has hit him. Last season he was the director of the Barça Academy in Sydney and in mid-February he had to return to Girona, where he continued to work from home. “Within days of arriving here they declared a state of alarm and confinement, I had to do telecommuting until June, which is when the season ends, because the Sydney academy was still open. They kept throwing there, ”he says.
The adventure began five years ago when he left for Dubai to work as a coach at Barça’s academy. Quickly, the entity saw its potential and sent him to Cairo as a director. Pujol spent two seasons in Egypt and the last in Australia. Having lived in so many places “is quite positive because they are totally different cultures. There are very different contexts between Dubai and Egypt, and even more so in Sydney. “I am a positive person and I always like to stick to everything that brings me personal and professional growth. Everywhere I tried to extract the best and the worst to grow, ”he says.
The Barça philosophy
Maintain possession of the ball with a game of touch and control, press in block and in solidarity with the lines together on the opposing field, quickly recover the ball, seek verticality to overcome the rival defense and end up defining effectively and accurately, has given Barça many successes throughout its history. However, making this philosophy understood in other countries is another matter. “The characteristics of the players or the way of thinking within the culture are quite different. Both in Dubai and in Cairo they take into account the conditional aspect, which would be the most physical and technical of the players “, he points out. In Sydney, on the other hand, although “professional football has been a recognized sport for about 30 years, the academy breathed a very European atmosphere, of understanding football in our own way and believing a lot in what they are taught and transmitted. We like that and it makes our job easier. ”
Pujol explains that “there have been places where it has been harder to convince of everything we do, but luckily we have scientific resources and evidence, demonstrable on the field, that make all families characterize us for who we are and see us as something different. That’s what makes Barça special.
“Being a director you have a lot of responsibilities. You are like the coach of the coaches and you have to transmit the philosophy and methodology of the game that we have in the club, through the values that we believe that the sport must have “, he comments. Making it clear how Barça works in the rest of the world “is not an easy task, although we have years and many days of constant work during the season to apply our game and convince”. Pujol has already applied all this to three continents and will soon do so in the fourth.
Domènec Torrent has a foot and a half in Brazilian Flamengo as has been published in recent hours from Brazilian media such as from around Manchester City, where the Santa Coloma de Farners coach worked for years with Pep Guardiola . “Dome” had already tried the adventure of becoming head coach again in New York City, after a long time working alongside Guardiola at Barça, Bayern Munich and Manchester City, and now he will do so again accepting the challenge of doing – is in charge of the current champion of the Copa Libertadores. Domènec Torrent would be the replacement for the Portuguese Jorge Jesus who has signed for Benfica and, alongside him, Jordi Guerrero from Arbucía, who had been working with Pablo Machín in recent years, would also arrive in Brazil.
Leonardo Jardim, Marco Silva and Carlos Carvalhal were other candidates on the Flamengo bench, but, according to Brazilian media, a dinner on Saturday night in Madrid ended up deciding the president of the Brazilian club, Rodolfo Landim, to bet on Domènec Torrent and the operation was closed yesterday in Girona. The representative of the former Brazilian midfielder of Girona Douglas Luiz, Carlos Leite, would have played a key role in the operation.
With extensive experience in Girona football and a renowned expert in the Catalan Third Division after passing through the benches of Farners, Palafugrell, Palamós and Girona, Domènec Torrent was recruited by Pep Guardiola to help him as a rival analyst in his debut on the bench at Barça B. From the Barça subsidiary to Barça’s first team and then, as Guardiola’s right-hand man, Domènec Torrent was with Santpedor at both Bayern Munich and Manchester City.
Without leaving the orbit of City and his group, Torrent accepted the challenge of returning to be relevant coach the Frenchman Patrick Vieira in New York City. And now, after being stopped since last Christmas, Domènec Torrent will leave for Flamengo. And, next to him, Jordi Guerrero.
Saipem closed the first half of the year with a net loss of 885 million euros, against a similar previous profit of 14 million, due to writedowns and charges of 753 million. On the highs, the order book after “important acquisitions for around € 4.8 billion” explains the Group, which has reached the record threshold of € 26 billion, more than 70% in engineering and construction (E&C) activities not related to oil . Revenues fell from 4.51 to 3.67 billion euros, and gross operating margin from 574 to 271 million, with an operating loss of 711 million against a similar previous operating profit of 262 million. Adjusted operating profit was 42 million, against a similar previous positive figure of 308 million. According to the CEO Stefano Cao the Group “confirmed the clear market positioning” thanks to the “financial and capital strengthening achieved in recent years”, to the “timely orientation of the business towards the energy transition”, to the “size and diversification of the portfolio orders “and” asset adequacy “. All elements that “guarantee a solid basis for the strategies set up to face the consequences of the pandemic and further future challenges and seize the opportunities in order to play a leading role in the post-Covid recovery phase 19.”
The Trilateral Contact Group on the Donbas settlement adopted a document that should ensure a complete ceasefire from July 27. Kiev promises: if the agreement is respected, the implementation of other points of the Minsk agreements will begin. True, there were also some contradictions. Moscow criticized the decision of the Ukrainian parliament that elections in Donbass can only take place after “the Russian occupying troops and their equipment” are withdrawn from there. President of Ukraine Volodymyr Zelenskyy commented on the news from the conflict zone itself, where he arrived with the President of Switzerland.
Monitoring the ceasefire
On Thursday morning, Volodymyr Zelenskyy went to Donbass in the company of Swiss President Simonetta Sommaruga. There they met with representatives of the OSCE Special Monitoring Mission, the International Committee of the Red Cross and the regional administration of the Donetsk region. In addition, both politicians visited the Voda Donbassa communal enterprise. 15 trucks with reagents for water purification arrived there from Switzerland.
According to Volodymyr Zelenskyy, the Water of Donbass enterprise has received aid from Switzerland before, which helped to restore the facility after the fighting in 2014. “Mr. President, rest assured that this is not the last humanitarian aid – in September we are planning the next big batch. The Swiss people and government will not leave Ukraine, ”the guest assured him.
President of Ukraine Volodymyr Zelenskyy and President of Switzerland Simonetta Sommaruga
Mr. Zelensky went to Donbass less than a day after the signing of the document, which in his office has already been called “breakthrough” – but not in the humanitarian, but in the military sphere. Late Wednesday night, the Trilateral Contact Group (TCG) signed a list of additional monitoring measures to ensure compliance with the current indefinite ceasefire. It should take effect from midnight on July 27th.
Russia and the self-proclaimed Donetsk and Luhansk People’s Republics (DPR and LPR) proposed to agree on additional measures to control the ceasefire back in March, but this has not yet been done. The meeting of the leaders of the Normandy Four countries (Russia, Ukraine, France and Germany), which took place in Berlin on July 5, helped bring the decision closer.
As Natalya Nikonorova, the head of the DPR mission at the talks in Minsk, explained to Kommersant, the document cannot be called a new ceasefire decision. “We have had an indefinite ceasefire since July 21, 2019, no one has canceled it,” she said. “And the decision that was signed on Wednesday contains only additional measures to control and strengthen it. Because the statement made in 2019 was only oral. And now we have nevertheless signed a document with specific measures to be implemented. Moreover, they should be set forth in the orders of the leadership of the people’s militia of the republics and the armed forces of Ukraine. “
The list of measures includes a complete ban on “offensive and reconnaissance and sabotage actions”, the use of drones, any fire, including sniper fire, as well as “the placement of heavy weapons in settlements and their environs.”
If the enemy violates these requirements, the parties must first try to resolve the issue through negotiations through the Joint Center for Control and Coordination, and only in case of failure they will be able to return fire. In this case, the order to conduct return fire must be transmitted to the TKG. For non-observance of these measures, disciplinary sanctions will be applied to those responsible. “If some leader issues an illegal order, he will bear disciplinary responsibility: a reprimand, dismissal – everything is as it should be in the army,” Ms Nikonorova explained.
The Ukrainian side made it clear that it considers the signed measures as a key to further progress in the negotiation process. “The regime of compliance with a full and comprehensive ceasefire, if it is observed by the other side, is a basic prerequisite for the implementation of the Minsk agreements and opens the way for the implementation of other provisions of these agreements,” the Ukrainian president’s office said in a statement. At the same time, already on Thursday, Mr. Zelensky clarified that the new document should be approved by all members of the Normandy Four.
“A habitual dead end”
Meanwhile, a member of the political subgroup of the Ukrainian delegation to the TCG Denis Kazansky on his Facebook page noted that he was skeptical about the ceasefire agreements. However, he admitted that he was not privy to their details, since they were discussed by representatives of another subgroup – the military. The negotiator does not believe in the consistency of these agreements, since such agreements were previously concluded more than once, but were not really observed.
Perhaps, Mr. Kazansky had a pessimistic mood because in his subgroup instead of successes there was, as he put it, “the usual dead end.” The negotiator said that representatives of the Russian Federation criticized the decision of the Verkhovna Rada of Ukraine on the appointment of local elections for October 2020. “In this resolution, the Russian representatives were outraged by the phrase that elections in the occupied territories can only be held after“ the withdrawal of all illegal armed formations controlled, controlled and financed by the Russian Federation, the Russian occupation forces and their military equipment from the territory of Ukraine. ” The Russians demanded that the Ukrainian side canceled this resolution, but, of course, they were politely sent to a well-known address, ”said Denis Kazansky.
Russian representative at the talks Boris Gryzlov really criticized the decision of the Verkhovna Rada. In his opinion, it contradicts the Minsk agreements, since, according to Moscow’s position, the elections to the DPR and LPR must take place before Ukraine regains control over these territories, and after the Donbass is guaranteed a special status enshrined in the country’s constitution … The same idea was expressed on Thursday by the representative of the Ministry of Foreign Affairs of the Russian Federation Maria Zakharova: “In the resolution of the Rada, the organization of elections in certain districts of Lugansk and Donetsk regions was conditioned by requirements that directly contradict the Minsk set of measures. This situation cannot but worry, we demand clear clarifications from the Ukrainian side on this issue. “
“We want to decipher each point of Minsk. Then we will see whether we are able to do it or not, how we will do it and who is responsible, ”Volodymyr Zelenskyy, who was at that time at the Stanitsa Luganskaya checkpoint, separating the territory controlled by Kiev from the LPR, answered in absentia to Russian officials. – We want details. All questions will be answered in the little things. “
It is also not known whether Ukraine’s idea to hold a new exchange of detainees will come true. On Wednesday, the Ukrainian delegation handed over to the delegations from the Russian Federation, DPR and LPR the lists of its citizens whom it would like to get out of captivity in the first place, and is now waiting for similar lists from them.
The number of surnames included in the Ukrainian list is not specified. However, on the eve of the TCG negotiations, the office of the Verkhovna Rada Human Rights Commissioner Lyudmila Denisova stated that they set themselves the goal of returning home all Ukrainians who were in prisons in Russia and in the Donbass territory not controlled by Kiev. True, according to Ms. Denisova, this will not be easy. As she said in an interview with the Ukrinform agency, when Kiev passes the list, the DPR and LPR never confirm the presence of these people on their territory. “An objective picture”, according to the Ombudsman, can only be obtained later, when representatives of the Red Cross, OSCE or UN come to a particular prison.
Ukrainian officials involved in the negotiation process refused to comment on the situation with the exchange of prisoners, even on condition of anonymity, to Kommersant, noting that it was first necessary to wait for a response to the latest proposals from Kiev from other TCG participants.
US Senator Marco Rubio responded with a resounding “No” to several demands from a “left group”, which the legislator claims supports the Nicolás Maduro regime and that he plans to march to his residence this Sunday, July 26, the day of the anniversary of an attack led by Fidel Castro in 1953 on Cuban army barracks.
“This Sunday, July 26, the day the communists celebrate Castro’s inauguration of Cuba, an organization that supports the Nicolás Maduro regime in Venezuela is planning to march to my house in Miami demanding that I eliminate the police. and support socialism. You can have my answer now: NO, ”said the congressman on his Twitter account and in a statement.
The Movement for a People’s Party initially announced a caravan and a march to the residences of various United States congressmen for Saturday, July 25, and then changed the date of the event to the following day.
Rubio’s office, a Florida senator, said in a statement that the group waited a day later to go to the senator’s house. “Why? Because July 26 is the anniversary of Castro’s attack on the army barracks in Santiago de Cuba in 1953. The guerrilla movement that Castro finally started and led to his takeover of Cuba was known as the July 26 Movement. ”
He also reported that they have as one of their allies the coalition “Hands off Venezuela” that “is a blatantly Marxist organization founded by the well-known Marxist Alan Woods. In 2004, Venezuelan dictator Hugo Chávez praised the group, which now acts as a pro-Maduro front organizing protests around the world. “
That coalition supported the takeover of the Venezuelan embassy in Washington in 2019 for several weeks, arguing that it was preventing the diplomatic headquarters from “falling into the hands of the unelected opposition.”
What do Marco Rubio and other legislators ask for?
The Movement for a People’s Party said on its website that the caravan and march will be held at the homes of United States representatives and senators to demand that the final stimulus rescue workers affected by the coronavirus pandemic and not to Wall Street.
He claimed that when the pandemic struck, Democrats and Republicans spent billions of dollars bailing out Wall Street and left “tens of millions of people” without funds for food and housing.
Now that Congress is meeting to draft the final coronavirus stimulus bill, it is taking action.
“That is why on July 25, we will hold automobile marches and parades at the homes of the representatives and senators of the United States to demand that the final stimulus rescue workers and not Wall Street. We demand a #PeoplesStimulus, ”he said.
According to the movement, the communities that oppose police brutality and systemic racism are the same that are most affected by this pandemic and the economic depression.
“The Movement for a Popular Party stands in solidarity with the communities whose pain and struggle have been profoundly exacerbated in recent months. This is a time to make bold demands for justice, ”he noted.
Rubio’s office detailed that the lawsuits include diverting police funds to schools and social services, monthly payments of $ 2,000 in cash to all, and suspending the rent and payment of mortgages.
Journalist and editor with specialization in Latin America, judicial, business and local issues related to the Latin American community. Much of her career was spent at international news agencies. Her research paper “Emigrating to Death: Venezuelans Murdered in Latin America” received the 2019 FSNE and SPJ Sunshine State Awards.