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M Update Podcast | Metals & Mining Tracker | Europe October 4, 2024 08:01 AM GMT Before & After China's policy shift became a pivotal moment for M&M equities, that have been trading at a steep discount relative to the market. We calculate a US$12bn EBITDA 'swing' in M2M 2025 EBITDA pre and post the policy announcement, as commodity prices have rallied. Preferred plays: RIO PLC, MT, NHY, KGHM. Play Audio | --- | --- | |------------------------------------------------------------------------------------------ ...

Deutsche Bank Research Q3 European Earnings Preview – Easy beats Maximilian Uleer, Head of European Equity- and Cross Asset Strategy +49 (0)69-910 41355 | maximilian.uleer@db.com Carolin Raab, European Equity- and Cross Asset Strategist +49 (0)69-910 43958 | carolin.raab@db.com Francesca Mazzali, European Equity- and Cross Asset Strategist +49 (0)69-910 47636 | francesca.mazzali@db.com October 2024 IMPORTANT RESEARCH DISCLOSURES AND ANALYST CERTIFICATIONS LOCATED IN APPENDIX 1. Deutsche Bank does and seeks ...

M Update S. Korea Autos/EV Batteries | Asia Pacific October 4, 2024 05:07 AM GMT Asia Marketing Feedback + Recent Developments Post our S. Korea EV battery upgrades in September, we met with a wide range of investors in Asia. Below, we highlight the key feedback for both EV Batteries and Autos from those meetings. Key feedback for EV Batteries: Improving sentiment: Compared to early September, when we upgraded LG Energy Solution (373220.KS) and the Korea EV battery sector, our recent discussions with invest ...

Summary of Key Points from the Conference Call Industry Overview - **Industry**: Energy & Utilities in Japan [1] Core Insights from PM Ishiba's Policy Speech - **Nuclear Power Policy**: PM Ishiba emphasized that safety will be a major premise in the use of nuclear power for electricity generation, indicating a continuation of the existing nuclear policy [1] - **Energy Efficiency and Renewables**: The administration plans to focus on energy efficiency and expand the use of renewable energy sources, including geothermal energy [1] - **Energy Self-Sufficiency and Decarbonization**: The government aims to significantly increase energy self-sufficiency while pursuing decarbonization, driven by rising electricity demand in the AI era [1] - **Market Sentiment**: There have been concerns in the stock market regarding the perceived unclear stance on nuclear energy by the Ishiba administration; however, the speech suggests that the nuclear policy remains unchanged, which may positively impact shares of electric power companies with nuclear facilities [1] Additional Important Information - **Related Reports**: The speech aligns with previous reports on Japan's energy policy and the implications of powering AI in Japan [1] - **Analyst Contact**: Reiji Ogino, Equity Analyst, is available for further inquiries regarding the insights shared [1] This summary encapsulates the critical points discussed in the conference call, focusing on the implications for the energy sector in Japan and the government's stance on nuclear energy and renewable resources.

Summary of Key Points from the Conference Call Industry or Company Involved - **Chevron**: Engaged in the oil and gas industry, specifically focusing on oil-sands and shale assets - **Canadian Natural Resources**: Acquirer of Chevron's assets - **Shell**: Involved in LNG production and gas trading - **Rio Tinto**: Engaged in lithium production, critical for electric vehicles - **Atos**: Involved in computing and cybersecurity assets - **Heliene**: A photovoltaic-module maker in Canada Core Points and Arguments - **Chevron's Asset Sale**: Chevron will sell stakes in oil-sands and shale assets to Canadian Natural Resources for **$6.5 billion**, aiming to refocus operations [1] - **Market Performance**: Major U.S. stock indexes fell, with the S&P 500 down **1%**, Dow down **0.9%**, and Nasdaq down **1.2%** from record highs [1] - **Shell's Expectations**: Shell anticipates a rise in LNG production and resilient gas trading in Q3, which may offset weaknesses in refining margins [1] - **Rio Tinto's Acquisition Talks**: Rio Tinto is in discussions to acquire lithium producer Arcadium to strengthen its position in the electric vehicle market [1] - **Atos' Proposal**: Atos has made a new proposal to sell its computing and cybersecurity assets to the French state after previous talks ended without agreement [1] - **German Manufacturing Orders**: Orders in August fell **5.8%** from July, which was worse than the **2%** drop predicted by economists [1] Other Important but Possibly Overlooked Content - **Investment in Heliene**: Transition Equity led an investment of up to **$54 million** in Heliene, which plans to build a new factory in Minnesota [1] - **Economic Indicators**: The decline in German manufacturing orders may indicate broader economic challenges in Europe, which could impact global markets [1] - **Market Sentiment**: The overall decline in major stock indexes reflects investor concerns about economic stability and potential impacts from geopolitical events [1]

Consolidated Edison, Inc. (NYSE:ED) Consolidated Edison Clean Energy Webinar October 8, 2024 9:00 AM ET Company Participants Jan Childress - Director, Investor Relations Tim Cawley - Chairman and Chief Executive Officer Jen Hensley - Senior Vice President, Corporate Affairs Matt Ketschke - President, Consolidated Edison Company, New York, Inc. Michelle O'Connell - President and Chief Executive Officer, Orange & Rockland Utilities Vicki Kuo - Senior Vice President, Customer Energy Solutions Katherine Boden - ...

Cameco Corporation (NYSE:CCJ) TD Securities Annual Nuclear Fuel Cycle and Next Generation Nuclear Roundtable - 2024 Conference October 8, 2024 11:35 AM ET Company Participants Grant Isaac - Executive VP and CFO Conference Call Participants Craig Hutchison - TD Securities Craig Hutchison Good morning. Our next speaker is Grant Isaac, Executive Vice President and Chief Financial Officer of Cameco Corp. Welcome, Grant. Grant Isaac Hi there. Good to see you, Craig. Question-and-Answer Session Q - Craig Hutchis ...

1 October 2024 | 11:19PM HKT _ KE Holdings (BEKE): H-share liquidity paves way for Southbound inclusion; Narrower mom existing home pricing decline in Sep; Buy | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------- ...

Summary of Key Points from the Conference Call Industry or Company Involved - The conference call primarily discusses the **Middle East** geopolitical situation, particularly focusing on **Israel** and **Iran** relations, as well as the **Chinese economy** and its stimulus measures. Core Points and Arguments Middle East Geopolitics 1. **Escalation of Conflict**: The situation in the Middle East has deteriorated significantly, with Israel engaged in heavy fighting with Hizbullah and Iran launching missile attacks in response to Israeli actions. This has led to a humanitarian crisis with over 1 million displaced individuals in Lebanon [26][28]. 2. **Iran's Military Actions**: Iran's recent missile strike involved around 180 ballistic missiles aimed at Israel, indicating a significant escalation in military tensions. Most missiles were intercepted, but the attack reflects Iran's response to the perceived humiliation of its proxy, Hizbullah [26][28]. 3. **Israel's Military Strategy**: Israel's military operations have been characterized by targeted strikes against Hizbullah's leadership and military capabilities, which has raised concerns about potential overreach and the risks of a full-scale invasion of Lebanon [26][28]. 4. **Long-term Security Concerns**: The discussion emphasizes that a single decisive military action against Iran is unlikely to resolve the underlying security threats. Instead, sustained deterrence and diplomatic efforts are necessary to manage Iran's influence in the region [27][28]. Chinese Economic Stimulus 1. **Recent Policy Changes**: Chinese policymakers have shifted towards more aggressive economic stimulus measures after a prolonged period of half-hearted responses to economic challenges, including deflation and a declining property market [29][30]. 2. **Market Reactions**: Following the announcement of stimulus measures, Chinese stock markets experienced significant gains, with the CSI 300 index rising by 25% over five days, marking the largest increase since 2008 [17][29]. 3. **Need for Further Action**: Despite the positive market response, analysts argue that the current stimulus measures are insufficient to fully revive the economy. A more substantial stimulus package of 7 trillion to 10 trillion yuan (approximately $1 trillion to $1.4 trillion) is deemed necessary to escape the deflationary trap [29][30]. 4. **Global Implications**: The nature of the stimulus is expected to differ from past efforts, focusing more on consumer spending rather than infrastructure, which may have varied effects on global commodity markets and international trade dynamics [29][30]. Other Important but Possibly Overlooked Content 1. **Humanitarian Impact**: The ongoing conflict in the Middle East has resulted in significant civilian casualties and displacement, raising urgent humanitarian concerns that may affect international relations and aid responses [26][28]. 2. **Political Dynamics in Japan**: The appointment of Ishiba Shigeru as Japan's new prime minister is noted, highlighting his potential to influence Japan's diplomatic and defense policies amidst regional tensions, particularly with China and North Korea [31][36]. 3. **Antitrust Issues in the Tech Sector**: The ongoing antitrust case against Google is mentioned, with implications for how tech monopolies are regulated and the potential impact on competition in the digital marketplace [39][40]. This summary encapsulates the critical discussions and insights from the conference call, focusing on geopolitical tensions in the Middle East and economic developments in China, while also touching on broader implications for global markets and political landscapes.