Renault Sees a Double-digit Margin for its Mobilize Brand in 2027
French multinational automobile giant, Renault, stated that it aims for a double-digit margin for its new Mobilize brand, which presents new mobility and data solutions, and that by 2030, Mobilize would account for 20% of Renault's overall group turnover.
This new business is expected to aid the organization in turning around its finances. Renault turned a profit for the first time in three years in February. However, in 2021, sales declined for the third year in a row.
The Renault stock (EPA:RNO) traded 3.09% lower on Monday’s trading session, feeding in to its near-30% decline since the start of 2022 amid geopolitical and macroeconomic instability.
MACROECONOMIC DATA ANALYSIS
India's retail inflation probably surged to an 18-month high in April, mostly due to higher gasoline and food costs, and remained well above the Reserve Bank of India's upper tolerance range for the fourth consecutive month. Following the Indian government's decision to delay the hiking of fuel prices until after critical state elections in March, the raise has been widely anticipated. Since Russia's invasion of Ukraine in late February, global energy costs have risen dramatically.
Household spending in Japan declined for the first time in three months in March, though the 2.3% slide was less than projected, as consumers remained cautious despite some COVID-19 limitations being cooled. While decreasing coronavirus risks have bumped consumer activity since April, economists predict that rising living costs will stifle Japan's consumption-led recovery for the remainder of 2022. Inflation in the world's third-largest economy is reaching multi-year highs, fueled by the war in Ukraine and the yen's slide to 20-year lows.
The U.S. dollar was lower on Tuesday morning, but only slightly. Investors anticipate similar hikes upcoming after the Federal Reserve of the United States boosted its interest rate to 1%. The U.S. dollar index, which compares the greenback against a basket of six other major currencies, fell by 0.06% to 103.625.
Gold prices rose slightly in Tuesday’s early hours, as a drop in U.S. Treasury yields offset the pressure on the greenback-priced metal from the dollar's continued escalation. While gold is regarded as a safe haven during political and economic turmoil, it is especially vulnerable to rising short-term U.S. interest rates, which enhance the opportunity cost of owning bullion. The precious metal was up by 0.15% to $1,861 per ounce; its lowest price in almost 3 months.
Oil prices were down on Tuesday’s early trading session, due to concerns about demand forecast as China, the world's largest oil importer, implements lockdowns, and economic tensions loom in Europe. Financial markets are reacting to concerns that restrictions imposed on Russian oil imports following its invasion of Ukraine may put several European countries in financial hardship & instability. Brent futures fell by 0.91% to $104.99 a barrel, and WTI oil futures were down by 0.81% to $102.19 per barrel.
USA: S&P500 -3.20%, Dow Jones Industrial Average -1.90%, Nasdaq Composite -3.98%
Europe: FTSE 100 -2.32, DAX -2.15%, CAC 40 -2.75%
Asia: Nikkei 225 -0.58%, Hang Seng -2.01%, CSI 300 +0.94%, Nifty 50 +0.47%