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According to an Iranian news website: Three locations northeast of Tehran were attacked by Israeli missiles.On June 17, Morgan Stanley published a report, maintaining the target price of Anta Sports (02020.HK) at HK$117 and the investment rating of "overweight". Morgan Stanley pointed out that Antas sales growth in May was better than that in April, for the following reasons: 1) 6.18 was 10 days earlier than last year; 2) more holidays; 3) the weather returned to normal. Offline sales themselves also performed strongly. The performance of Baosheng Group also showed the same trend: sales in May fell 3% from the same period last year, while sales in April fell 15% year-on-year. Anta said that if demand weakens after the 6.18 shopping festival, it will consider offering more online discounts in June to boost sales. Morgan Stanley believes that the retail sales growth of Anta and FILA will reach 5-9% in the second quarter of 2025, among which FILAs growth will be stronger than Anta. The bank maintains the operating profit margin guidance of 20-25%/~25% for Anta/FILA in 2025, and mentioned that the current operating profit margins of Descente/Kolon are >30%/>/20%, respectively.IAEA Director General Grossi: The underground space of Irans Isfahan nuclear facility appears to be unaffected.Citi: Gold prices are expected to fall due to falling demand and the Federal Reserves interest rate cuts.Fitch Ratings: Yemens Houthi armed forces may escalate their offensive operations in support of Iran.

Despite an increase in US official oil stock statistics, WTI extends its rebound to near $79.00

Daniel Rogers

Dec 30, 2022 11:20

 截屏2022-12-29 下午4.54.13_1024x576.png

 

West Texas Intermediate (WTI) futures on the New York Mercantile Exchange (NYMEX) have continued their recovery move over the important resistance level of $78.50 during the Tokyo morning session. As a result of supply concerns due to a prohibition on oil sales from Russia to G7 nations and the European Union and anticipation of a recovery in demand predictions in China as a result of reopening steps, the oil price experienced buying activity around $77.00.

 

Russia has no intention of supplying fossil fuels at prices lower than those prevailing on the market, therefore oil supply is projected to remain a key concern. Without a question, western nations are actively seeking alternatives to Russia to meet their oil demand, but their reliance on Russian oil will keep them in agony in the medium run.

 

Meanwhile, the sheer velocity of reopening steps by the Chinese government in Beijing has caused short-term chaos owing to a sharp increase in the number of infections; however, Covid-19 may have reached its peak and the economy will restore its forward momentum.

 

According to a letter from Goldman Sachs economists, "For oil prices, we remain bullish on oil prices in the immediate future given the possibility for increasing China demand, and reduced supply growth from US shale due to discipline/tight service markets, and OPEC+ quota reduction."

 

The United States Energy Information Administration (EIA) stated on Thursday, for the week ending December 23, that the oil price rebounded following a short decline due to an increase in oil stockpiles. The official US agency reported an increase of 0.718,000 million barrels in oil inventories, whereas the market had anticipated a decrease of 1.52 million barrels.

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