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On July 10th, it was reported that Beatrice Patin, a senior executive at the fashion group Inditex, has resigned after more than 40 years with the company, including 25 years at the helm of its flagship brand, Zaras womens wear business. Inditex announced on Friday that Patin, who has served on the Inditex management board since 2021, will be succeeded by Alfredo Ferro, the current director of Zaras Basic collection. Inditex is currently transitioning to higher-priced, more upscale apparel and is actively pursuing exclusive collaborations with fashion designers and photographers. Recent examples include Zaras collaboration with designer John Galliano and a collection launched in partnership with pop singer Bad Bunny. While Zara has consistently driven Inditexs bold fashion strategy, its growth has slowed in recent years.July 10 - China Hongqiao (01378.HK) announced that the Groups net profit for the first half of 2026 is expected to increase by about 39% compared with the same period in 2025, mainly due to the increase in the sales price of the Groups aluminum alloy products compared with the same period in 2025.On July 10th, Jiumaojiu (09922.HK) announced that in the second quarter of 2026, the operating performance of the Groups main brands remained robust. Among them, Tai Ers same-store sales in mainland China continued to maintain double-digit year-on-year growth, further improving compared to the first quarter, demonstrating the brands enhanced resilience. During the period, the Fresh Living model stores continued to outperform the overall performance, continuously driving the improvement of Tai Ers operating performance in mainland China. As of June 30, 2026, Tai Er had launched 340 Fresh Living model stores in mainland China, covering 92 core cities nationwide. Furthermore, the new generation 6.0 Fresh Living model store was officially launched in Guangzhou in early July 2026, further optimizing the product structure and continuously upgrading store design and customer experience, with initial operating data showing positive results. The Group believes that with the continuous iteration and upgrading of the Fresh Living model and the gradual completion of adjustments to the remaining stores, Tai Ers operational resilience in mainland China will continue to be evident in the second half of the year.The European Council has approved Hungarys new Recovery and Resilience Plan (RRP). The EU states that this new plan will allow for €10 billion in funding to Hungary, including approximately €6.5 billion in grants and €3.5 billion in loans.Citizens: Lowered its price target for Meta Platforms (META.O) from $825 to $800.

WTI advances toward $75.00 as China-related demand optimism offsets recession fears

Daniel Rogers

Jan 09, 2023 11:55

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In the early hours of Monday, WTI steadily climbs near the intraday high of $74.70 as bullish emotion competes with economic slowdown worries. Despite this, the weaker US Dollar and a light schedule allow buyers of black gold to maintain control following Friday's mixed performance.

 

In spite of this, the risk profile remains elevated in light of China's reopening of its borders after a three-year closure. On the same line, Guo Shuqing, party secretary of the People's Bank of China, made his remarks (PBOC).

 

Reuters, transmitting China unlock news, claimed that "about 2 billion journeys are anticipated this season, roughly doubling the volume of previous year, and recovering to 70% of 2019 levels," citing a statement from the Chinese government.

 

On the other side, PBOC's Shuqing stated, "The world's second-largest economy is likely to recover rapidly due to the country's optimal Covid-19 response and the continued implementation of its economic policies."

 

The US Dollar Index (DXY) fell the most in three weeks the day before, down 0.20% intraday to 103.70 as of press time, as the US employment report failed to excite greenback purchasers and the US activity numbers stoked fears of an economic slowdown. It's worth mentioning that the previous day's disappointing US wage growth, ISM Services PMI, and Factory Orders weighed on Treasury bond yields and the DXY.

 

On a different page, reports regarding a delay in the restoration of the colonial pipeline and the Russia-Ukraine conflict appear to also benefit energy buyers. Traders fear additional rate hikes ahead of the release of the Consumer Price Index (CPI) for December from China and the United States on Wednesday and Thursday, respectively, which tests the positive momentum.

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