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Delta Air Lines (DAL.N) shares turned lower in pre-market trading.July 10th - Due to continuous heavy rainfall, the disaster situation in Guangxi has further worsened. The National Disaster Prevention, Mitigation and Relief Committee has raised Guangxis emergency response level from Level IV to Level III. To thoroughly implement General Secretary Xi Jinpings important instructions on flood control and disaster relief, in addition to the 110 million yuan pre-allocated on July 6th, the Ministry of Finance and the Ministry of Emergency Management urgently pre-allocated another 80 million yuan in central natural disaster relief funds on July 10th. This funding will support Guangxi in focusing on the relocation and resettlement of affected people, transitional living assistance, and the repair of damaged houses, effectively ensuring the basic living needs of the affected population. The Ministry of Finance has instructed the Guangxi Finance Department to expedite the disbursement of funds to the disaster area, ensuring the effective use of the pre-allocated funds; to strengthen the supervision of disaster relief funds, resolutely preventing any irregularities such as fund retention, misappropriation, or diversion, and ensuring that all disaster relief funds are used for the disaster area and the affected people.On July 10th, Hansoh Pharmaceutical (03692.HK) announced that its independently developed B7-H3 targeted antibody-drug conjugate, HS-20093, met the primary endpoint of overall survival (OS) in the pivotal Phase III clinical trial (ARTEMIS-008) for patients with small cell lung cancer that had progressed or relapsed after platinum-based therapy. At the pre-specified interim analysis, HS-20093 showed a statistically and clinically significant improvement in OS compared to topotecan, and consistent benefit was also observed in the secondary endpoint of progression-free survival (PFS). The safety profile was consistent with previous studies. The company will soon begin communication with regulatory agencies to advance preparations for its new drug application in China.The Reserve Bank of India reported that as of July 3, gold reserves stood at $105.21 billion, up from $102.54 billion the previous week.Spanish national gas company: In June, liquefied natural gas accounted for 50.7% of natural gas imports, while pipeline natural gas accounted for 49.3%.

Two Trades to Watch: DAX, GBP/USD

Jimmy Khan

May 07, 2022 10:43


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The DAX is falling as industrial output declines.


After a slaughter on Wall Street that saw the Nasdaq finsh 5% down, European equities have begun in the red, extending losses from the previous day.


Fears of inflation, stagflation, and recession are weighing on the market as we approach the weekend. The DAX is expected to shed 1.4 percent this week, marking the fifth consecutive week of losses.


In March, German industrial output decreased -3.9 percent on a month-over-month basis, down from 0.2 percent in February and considerably below the -1 percent drop forecast. The negative report comes on the heels of a sharp drop in German manufacturing orders in March. The data represents the economic effect of the Russian conflict on Germany and the Eurozone as a whole.


Germany does not have any additional statistics due today. Sentiment and the US NFP announcement will affect European indexes.

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