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June 22, investors said that the U.S. attack on Irans nuclear facilities on Saturday may cause a knee-jerk reaction in global markets when they reopen, pushing up oil prices and triggering a risk-off wave, and they are assessing how the latest escalation of tensions will have a ripple effect on the global economy. Mark Spindel, CEO of Potomac River Capital, said: "I think the market will panic initially, and I think oil prices will open higher. I think this uncertainty will hang over the market because Americans everywhere will now be at risk. This will increase uncertainty and volatility, especially in the oil market." However, Spindel said there is time to digest the news before the market opens.On June 22, according to Irans Tasnim News Agency on the 22nd, Irans Islamic Revolutionary Guard Corps has launched the 19th round of missile and drone strikes against Israel in the "Real Commitment-3" operation. The report said that a few hours ago, a large number of drones flew towards Israels strategic targets "from north to south".June 22, Amena Bakr, a reporter for Energy Intelligence Group, said that Irans oil exports had never been interrupted before the United States intervened in the conflict. It is too early to judge the situation now, but OPEC still has 6 million barrels per day of idle production capacity, which can be used in the event of an interruption. Iran has downplayed the US attack. Previous threats have included targeting US bases in the region and blocking the Strait of Hormuz... It is too early to judge what will happen in the future.Irans Qom Province Crisis Management Department: Residents in Qom and surrounding areas are not threatened.US President Trump: If Iran retaliates, it will face a military response.

Nissan Shares Increase Following A Restructuring of The Renault Alliance

Charlie Brooks

Jan 31, 2023 11:15

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Tuesday morning in Tokyo, shares of Nissan (OTC:NSANY) Motor Corp soared as the Japanese automaker and its French partner Renault SA (OTC:RNLSY) announced a comprehensive revamp of their two-decade-old partnership placing them on equal footing.


In early trading, Nissan's stock rose as high as 3.1% before giving back gains. At 02:08 GMT, they were up 2%, surpassing the Nikkei 225 average, which was in the red.


In accordance with the agreement announced on Monday, Nissan and Renault (EPA:RENA) will now hold 15% shares in each other, and Nissan's holding will include voting rights. Previously, Renault owned approximately 43 percent of the Japanese automaker, while Nissan had no voting rights.


Nissan executives had long been dissatisfied with the unbalanced character of the cooperation.


Following Monday's announcement, Masayuki Kubota, chief strategist at Rakuten Securities, told Reuters, "The normalization of the capital relationship will increase Nissan's management freedom, making it easier for the company to adopt a strategy that focuses on the United States, China, and emerging markets."


Renault placed approximately 28% of the Japanese manufacturer in a French trust as part of the transaction, which includes a lock-up that prohibits share sales for a specified time period and a standstill obligation that imposes additional restrictions on stock transactions.


The restructure addresses past issues with shareholder governance, as Nissan was unable to use its voting rights, according to a note by Nomura analyst Masataka Kunugimoto.


"A connection in which both firms have equal voting rights of 15% in the other company should significantly decrease governance difficulties," stated Kunugimoto. Overall, we anticipate that this statement will result in a reevaluation of Nissan's stock price.


Nomura has a "buy" rating and a price target of 750 JPY on the stock, significantly above Tuesday's high of 468.1 yen.


Nissan's stock has declined by around 23% over the previous three years, trailing industry leader Toyota Motor (NYSE:TM) Corp by 24% and Renault by 4%.


Monday's closing price for Renault shares was 4% lower after the agreement was announced.

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