2026-09-22

European Commission Vice President Šefčovič said trade still has substantial room to grow and could be far higher than current levels.

European Commission Vice President Šefčovič said trade still has substantial room to grow and could be far higher than current levels.

2026-09-22

欧盟委员会副主席谢夫乔维奇：贸易仍有很大的增长空间，远超目前的水平。

欧盟委员会副主席谢夫乔维奇：贸易仍有很大的增长空间，远超目前的水平。

2026-09-22

Novo Nordisk's CEO said the company must do more to rebuild investor trust as flagship drugs including Ozempic and Wegovy face patent expiries in the US and Europe over the next decade. He warned that overpromising and under-delivering quickly erodes confidence and that investors want clarity on the company's next steps. Shares fell on Monday after an investor day disappointed with limited detail on the turnaround plan. Ozempic and Wegovy account for roughly three-quarters of sales. Novo Nordisk

Novo Nordisk's CEO said the company must do more to rebuild investor trust as flagship drugs including Ozempic and Wegovy face patent expiries in the US and Europe over the next decade. He warned that overpromising and under-delivering quickly erodes confidence and that investors want clarity on the company's next steps. Shares fell on Monday after an investor day disappointed with limited detail on the turnaround plan. Ozempic and Wegovy account for roughly three-quarters of sales. Novo Nordisk has pledged to launch more than five major drugs by 2030 and to add over $23 bln in incremental sales by 2035; analysts say those targets largely meet expectations. BMO Capital Markets said the company remains in a proof-of-performance phase and investors need clearer visibility on next-generation drugs and likely market uptake to restore confidence.

2026-09-22

摩根士丹利指出，亚马逊、Alphabet、微软、Meta和甲骨文等大型超大规模云厂商的综合增量投入资本回报率（ROIIC），预计将在2027年第三季度触底，降至约23%。根据市场一致预期，该指标在触底后将稳步回升，到2030年反弹至约35%。 核心含义是： 当前AI数据中心和算力基础设施的大规模资本开支，可能在未来几年阶段性压低新增资本的回报效率，但市场一致预期并不认为这种压力会长期持续。随着AI相关投资逐渐转化为收入和利润，超大规模云厂商的新增资本回报率预计将在2027年后重新改善。

摩根士丹利指出，亚马逊、Alphabet、微软、Meta和甲骨文等大型超大规模云厂商的综合增量投入资本回报率（ROIIC），预计将在2027年第三季度触底，降至约23%。根据市场一致预期，该指标在触底后将稳步回升，到2030年反弹至约35%。 核心含义是： 当前AI数据中心和算力基础设施的大规模资本开支，可能在未来几年阶段性压低新增资本的回报效率，但市场一致预期并不认为这种压力会长期持续。随着AI相关投资逐渐转化为收入和利润，超大规模云厂商的新增资本回报率预计将在2027年后重新改善。

2026-09-22

European stocks opened steady as investors awaited potential US-Iran talks during this week’s UN General Assembly. Additional oil flows via the Strait of Hormuz resumed over the weekend. Oil prices posted their first gain after five consecutive sessions of decline, and energy shares rose 0.4%.

European stocks opened steady as investors awaited potential US-Iran talks during this week’s UN General Assembly. Additional oil flows via the Strait of Hormuz resumed over the weekend. Oil prices posted their first gain after five consecutive sessions of decline, and energy shares rose 0.4%.

2026-09-22

Daiwa raised its target price for Biren Technology (06082.HK) to HK$130 from HK$100 and reiterated a Buy, after management lifted 2027 revenue guidance to yuan 20 billion from yuan 10 billion. Daiwa said the revision reflects higher average selling prices for mainstream Chinese AI chips and a bigger revenue mix from super‑pod solutions, signaling confidence in the flagship BR20x chip and order pickup. The broker raised its 2026–28 revenue forecasts by 14%, 94% and 58% to yuan 2.408bn, yuan 21.00

Daiwa raised its target price for Biren Technology (06082.HK) to HK$130 from HK$100 and reiterated a Buy, after management lifted 2027 revenue guidance to yuan 20 billion from yuan 10 billion. Daiwa said the revision reflects higher average selling prices for mainstream Chinese AI chips and a bigger revenue mix from super‑pod solutions, signaling confidence in the flagship BR20x chip and order pickup. The broker raised its 2026–28 revenue forecasts by 14%, 94% and 58% to yuan 2.408bn, yuan 21.008bn and yuan 45.508bn, and upped 2027–28 net profit forecasts by 35% and 10% to yuan 4.179bn and yuan 11.967bn. The new PT implies roughly 15x 2027 price-to-sales.