EUR/USD
1.17534
-0.239%
Gold
4696.35
-0.808%
Oil
96.245
0.821%
USD/JPY
157.486
0.168%
GBP/USD
1.35587
-0.371%
GBP/JPY
213.530
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Real-time News
Germanys final April CPI annual rate was 2.9%, in line with expectations and down from 2.90% previously.Germanys final April CPI month-on-month rate was 0.6%, in line with expectations and down from 0.60% previously.Germanys final harmonized CPI annual rate for April was 2.9%, below the expected 2.90% and the previous reading of 2.90%.Germanys final harmonized CPI monthly rate for April was 0.5%, below the expected 0.50% and the previous reading of 0.50%.On May 12th, UBS issued a report stating that Pop Mart (09992.HK) will hold its Q1 2026 earnings call on May 13th. UBS expects Pop Marts Q1 revenue to grow by 60% to 65% year-on-year, estimated at approximately RMB 9 billion, higher than the market consensus of RMB 6 billion to RMB 10 billion. The bank anticipates that its China business will remain resilient, growing 10% quarter-on-quarter and 80% to 85% year-on-year, driven by the popularity of the Twinkle Twinkle series and seasonal factors such as the Lunar New Year and winter holidays. Conversely, overseas business is expected to decline by 40% to 50% quarter-on-quarter and grow by 30% to 35% year-on-year, mainly due to the cooling of the initial Labubu craze and the normalization of social media hype cycles in Western markets during the off-season. The bank noted that it does not rule out the possibility of further lowering its earnings forecast for Pop Mart if the "hype downturn" continues, but the current valuation already partially reflects these risks. The target price was lowered from HK$278 to HK$237.5 due to a 7% to 9% reduction in adjusted net profit forecasts for 2026 to 2028 to reflect lower revenue forecasts from overseas markets, and a reduction in the medium-term revenue growth assumption from 9.5% to 8.9%, mainly due to a lower assumption on overseas expansion. The rating remains "Buy".
