European Commisison Unveils Plan to End Reliance on Russian Gas, Oil and Coal by 2027. #OOTT#ONGT#EU#Russia
European Commission: EU Needs 210 Billion Euros in Extra Investments by 2027 to Exit Russian Gas, 300 Billion Euros by 2030. Ask Countries to Revise Plans to Spend More Covid-19 Recovery Funds on Quitting Russian Gas. #OOTT#ONGT#EU#Russia
European Commission: Those Investments Include 113 Billion Euros for Renwables and Hydrogen Infrastructure, 29 Billion Euros for Power Grids, 56 Billion Euros for Energy Savings and Heat Pumps, 10 Billion Euros for Lng and Gas Investments, 1.5 to 2 Billion for Oil by 2030. #ONGT
European Commission: To Sell Extra Carbon Permits from Market Stability Reserve in Next Few Years to Raise 20 Billion Euros for Russian Gas Exit. Propose Higher Target to Get 45% of EU Energy from Renewables by 2030, Replacing Current 40% Proposal. #ONGT#OOTT#EU $Russia
European Commission: Propose Higher Target to Get 45% of EU Energy from Renewables by 2030, Replacing Current 40% Proposal. Propose Higher Target to Reduce EU Energy Consumption 13% by 2030 Against Expected Levels, Replacing Current 9% Proposal. #ONGT#OOTT#EU $Russia
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Yellen: US committed to market-determined USD exchange rate. It's understandable that the dollar has risen. Strong dollar is a concern for other countries. USD-denominated debt payments harder for other nations. #US $USD
Yellen: China lockdowns affecting production, supply chains. China tariffs under discussion in Biden administration. #US#China
Yellen: On tariffs, some of the Trump tariffs seem to have imposed more harm on US consumers. I see a case that some relief could come from cutting some of the tariffs. #US#China
⚡China's Premier Li Keqiang says to support platform economy and digital economy's domestic and overseas listing and financing. #China $ASHR $KWEB $FXI
#Tencent's 1Q:
Revenue 135.5 billion yuan, consensus 141.06 B
Net income 23.4 billion yuan, consensus 29.31 B
Net other income gains 13.1 billion yuan, consensus 13.06 B
Online advertising revenue 18 billion yuan, consensus 18.59 B
Eni: Has Started Procedure to Open Account with Gazprom Bank. Procedure Will Be Without Acceptance of Contractual Amendments Unilaterally Requested. In Porcess of Opening Two K Current Accounts at Gazprom Bank on Precautionary Basis, One in Euros, One in Roubles. #ONGT#natgas
Eni: Decision Has Been Shared with the Italian Institutions in Compliance with Current International Sanctions Framework. Gazprom Export, Russian Authorities Have Confirmed Invoicing, Payment Will Continue in Euros. #ONGT#natgas
Eni: Moscow Stock Exchange Will Carry out Conversion into Roubles, Without Involvement of Central Bank of Russia. #ONGT#natgas
CHINA VP LIU HE VOWS SUPPORT FOR DEVELOPMENT OF PLATFORM COS: CCTV #China $KWEB $FXI
China vice premier Liu He: Will support digital companies to list in domestic and foreign capital markets. Will support sustainable and healthy development of platform economy and private economy. #China $KWEB $FXI
China vice premier Liu He speaks at digital economy meeting and urges boosting digital economy. #China $KWEB $FXI
ECB’s Knot: 25 bps rate hike in July is realistic. 50 bps rate hike should not be excluded if data in next few months suggests that inflation is broadening, accumulating. #ECB $EUR
TRADERS BET ON ONE PERCENTAGE POINT OF ECB RATE HIKES IN 2022. #ECB $EUR
US Dollar Index falls 0.6% to 103.52, euro rises above 1.05 vs dollar, up 0.7% on day. $EUR $USD #ECB