Live news updates: Volkswagen to price Porsche stock at high end of IPO range



On Monday we will deal with the consequences of Italy’s lurch to the right following the end of a moody election campaign. The Financial Times came in early with a Big Read on what a far-right administration means for the rest of Europe.

We also have elections in Latvia, Bulgaria, Kuwait and Bosnia and Herzegovina this week. But the big one will be on Sunday with the first round of the Brazilian presidential elections. The favorite in the race is left-wing former president Luiz Inácio Lula da Silva, but incumbent Jair Bolsonaro is far from out of the running. Tensions are rising.

A smaller but significant vote will take place on Thursday, when the London City Councilor will decide the next mayor. This largely ceremonial role will be key to promoting the UK’s financial hub, so it’s important. Hopefully the vote will not be as contentious as last year’s.

Elections aside, it’s a strong week for space travel. On Monday, NASA will crash a spacecraft into an asteroid at 23,000 km/h to divert its trajectory. The $300 million Dart mission, short for Double Asteroid Redirection Test, has chosen an asteroid named Dimorphos as its target because it orbits another asteroid instead of the sun.

The US space agency will be busy again the next day with the launch of Artemis I, the first in a series of increasingly complex missions to establish a permanent human base on the Moon.

If that wasn’t encouraging enough, the week will end with the return of the London Marathon, albeit six months after its usual April time slot to allow it to take place after the disruption brought by the pandemic.

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companies

Continuing with the theme of the game, Lego (the name is derived from the Danish phrase leg god, or “play well”) reports semi-annual results on Wednesday. The toymaker has led analysts to expect a normalization of sales after the height of the pandemic, but expectations are high that sales will continue to outperform rivals in the sector.

For tankers, Thursday is an exciting day because stocks in porsche will begin trading on the Frankfurt Stock Exchange following the long-awaited IPO of the luxury car brand.

It’s another somber week for lovers of the big screen. Cinema chain in crisis Cineworld will report its half-year results on Friday. Although the group is expected to post a profit, in contrast to last year’s loss, the focus will be on its latest cash position and level of net debt after the company filed for bankruptcy in the US. early this month.

Economic data

This will be a week to find out how economies are performing and how the public expects them to perform with gross domestic product figures from the US, Canada and the UK, as well as various surveys of consumer confidence.

We’ll also get more insight into Europe’s battle to quell inflation with the release of consumer price index and producer price index readings for Germany, France and Italy.

Read next week’s full schedule here.

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