Pacific Gas And Electric Co logo

PCG PR A - Pacific Gas And Electric Co News Story

$30.29 -0.7  -2.3%

Sector
Utilities
Size
Large Cap
Market Cap £5.90bn
Enterprise Value £32.03bn
Revenue £13.60bn
Position in Universe th / 6850

Reuters Insider - U.S. Morning Call: Wall Street set to open higher on trade talk hopes

Tue 8th January, 2019 1:14pm
Click the following link to watch video: https://share.insider.thomsonreuters.com/link?entryId=0_xikcwqc6&referenceId=0_xikcwqc6&pageId=ReutersNews
Source: Reuters Insider

Description: Wall Street looks set to open higher on hopes that that there
will be some progress on trade talks between China and the United States. In a
sign that relations may be thawing, China has approved five genetically
modified crops for import from the U.S. Keep an eye on Amazon and Netflix
shares, which continue bouncing back after tumbling in recent months.
Short Link: https://reut.rs/2RAUMxr

Video Transcript:

Good morning. I'm Angeline Ong and this is your US morning call. Wall Street
looks set to open higher on hopes that there will be some progress on trade
talks between China and the United States for now anyway. The Dow Jones, the
S&P, and the Nasdaq futures are trading modestly higher, as you can see there.
In a small sign that the ice between the two nations may be thawing, China has
approved five genetically modified crops for import from the US. The first
time in about 18 months this has happened. Now this could ease pressure from
the U-S to open its markets to more farm goods. The US is of course the
world's biggest producer of GM corps. And China is the world's top importer of
GM soybeans and canola. This comes as negotiators continue to look for a way
out of the US-China trade war. US Commerce Secretary Wilbur Ross has predicted
that Beijing and Washington can reach a trade deal that they can both live
with. European stocks hit a 3-week high early in the session on hopes of a
breakthrough with Germany's DAX also on the rise.

Nothing is more important for German export-oriented shares than a solution to
the trade dispute. If there is a solution, world economic peace is maintained.
If there is no solution, there will be many more very depressed faces. Now in
corporate news. We're still keeping an eye on Amazon and Netflix. Both have
recently bounced back, after the resumption of trade talks helped to ease
concerns that have pummeled the market in recent months. To the other movers
and Annaly could be active as well. Let's have a look. There we are. Early in
the session, it was down more than 2% but volumes have dropped off now. The
mortgage REIT has announced it's looking to tap the equity markets. It's
offering 75 million shares to buy targeted assets under its capital allocation
policy. PG&E, another one to look out for after its shares dived more than 22%
on Monday. And its biggest bond fell to a record-low bid price, and yields
soared. S&P cut PG&E's ratings to "junk" and warned of a further downgrade.
Mizuho also today cut its target price on the California utility to $19 from
$27. And looking at Maxar Technologies. We're keeping an eye on this space
tech firm after its stock lost more than a third of its value due to the
failure of its WorldView-4 imaging satellite. Credit Suisse also cut its
rating on the stock to "underperform" from "neutral" and trimmed its PT to
$5.88 from $17. Overall, it's not been a good few months for Maxar - its
shares slumped 81% in 2018, its worst annual performance since going public in
2001. And that's today's morning call. I'm Angeline Ong, and this is Reuters
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.