Shares of Telefonica S.A. (BME: TEF) soared nearly 10% on Wednesday to hit a near six-month high. Fundamental analysis: Major deal announced The telecommunications company announced it has sold its cell towers in Europe and Latin America to American Towers for 7.7 billion euros ($9.41 billion) in cash. Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today. Telefonica’s subsidiary Telxius has agreed to sell over 30,000 mobile phone masts in Spain, Germany, Brazil, Peru, Chile, and Argentina. After the deal is closed, American Towers will then lease the towers back to the Spanish telecom company. This means that Telefonica will now only own phone masts in the United Kingdom. Telefonica has been struggling to boost its market share due to heavy competition in Europe and will now be able to use sale funds to slash its net debt by 4.6 billion euros. Proceeds from the deal will bring telefonica a capital gain of around 3.5 billion euros. The company said it plans to put more emphasis on more profitable businesses and abandon those that are less profitable such as the ones in Latin America. Josa Maria Alvarez-Pallete, CEO of Telefonica said the deal will
(RTTNews) - The Canadian stock market is languishing in negative territory around noon on Friday, after opening on a weak note amid rising worries about U.S.-China tensions, and uncertainty about the pace of economic recovery due to the continued surge in coronavirus cases.
Materials and energy stocks are finding some support, while financial, utilities and healthcare shares are mostly lower. Consumer discretionary, information technology and industrial shares are turning in a mixed performance.
The benchmark S&P/TSX Composite Index is down 34.76 points or 0.22% at 15,983.80, after falling to a low of 15,928.42.
Among the prominent losers, Royal Bank of Canada (RY.TO) is down more than 2%, Suncor Energy (SU.TO) is declining 1.65% and Toronto-Dominion Bank (TD.TO) is lower by 1.25%, while Bank of Nova Scotia (BNS.TO) and Royal Bank of Canada (RY.TO) are both lower by about 1%.
Wheaton Precious Metals (WPM.TO) is rising nearly 5%. Kinross Gold Corp (K.TO) is gaining 1.8% and Canadian Natural Resources (CNQ.TO) is up 1.5%. Barrick Gold Corp (ABX.TO) and Shopify Inc. (SHOP.TO) are up 1.4% and 1.3%, respectively.
Yamana Gold Inc. (YRI.TO) reported that its second-quarter adjusted net earnings were $63.3 million or $0.07 per share compared to adjusted net earnings of $19.8 million or $0.02 per a year earlier. The stock is up nearly 6%.
Teck Resources (TECK.B.TO) is down by about 2.8%. The company reported adjusted basic earnings of C$0.17 per share for the second-quarter for the current year, compared with adjusted basic earnings of C$0.88 a year ago.
In commodities, West Texas Intermediate Crude oil futures for September are down $0.19 or 0.46% at $40.88 a barrel.
Gold futures for August are up $7.20 or about 0.4% at $1,897.20 an ounce, while Silver futures for September are down $0.108 or 0.47% at $22.880 an ounce.
U.S.-China tension have escalated after China revoked the license of the U.S. consulate in Chengdu, saying it is a "legitimate and necessary response to the unreasonable actions of the United States." Just a couple of days ago, the U.S. government had ordered China to close its consulate in Houston, Texas.
Global climate innovator Trane Technologies (NYSE: TT) announced today the launch of its Center for Healthy and Efficient Spaces (CHES) to create safer, healthier, and more efficient environments for homes, buildings, and transportation around the globe. Rasha Hasaneen, Trane Technologies’ vice president of innovation and product excellence, will be the center’s director.
"Trane Technologies has been a leader in healthy and efficient indoor environments for decades. The global pandemic heightens sensitivity to the need for health and safety, and the overall quality of indoor environments. We are introducing CHES to focus on ensuring that homes, buildings, public transport and other spaces will come out of the pandemic healthier and more sustainable than ever,” said Hasaneen. "Through the center we are responding to urgent and increasing needs for solutions that reduce pathogens, mold, gases and other contaminants in the air we breathe and on the surfaces we touch.*
"Whether you’re at home, work, school, on a bus, or in a delivery vehicle, you want to feel safe and well. CHES will go beyond indoor air quality to consider all the factors that impact indoor environments – including lighting, acoustics and optimal temperatures and humidity. We are providing holistic and environmentally sound solutions. The center will take these outcomes to the next level by forming new partnerships, informing policies and standards, and accelerating innovation.”
Innovation and Policy Advocacy The CHES is working with technology and innovation companies in the climate sector to evaluate and scale the latest advancements in indoor environments across transport, homes, and a broad installed commercial buildings customer base. It will engage a global team of experts from the company’s commercial and residential HVAC and transport refrigeration businesses.
The center will work side-by-side with Trane Technologies’ Center for Energy Efficiency and Sustainability (CEES) to inform policy and standards that elevate indoor environmental quality. CEES is a council of global thought leaders in sustainability leadership, infrastructure development, energy policy, and technology that helps the company enact best practices in sustainability in the company and for its customers.
A Better, More Sustainable Normal "The new center will bring together world-leading expertise and technology inside and outside the company to address indoor environment challenges through and beyond the pandemic,” said Paul Camuti, Trane Technologies’ chief technology and strategy officer. "It will expand upon the comprehensive climate, refrigeration, and indoor air quality solutions we already deliver through our brands Trane® and Thermo King®. Together with our partners and customers we are building a new, better, more sustainable normal.”
Each indoor space is unique. Interactions between people and the systems that control any indoor environment they occupy, such as HVAC, lighting, and acoustics, are dynamic and complex. The company’s holistic approach includes assessing the indoor environment and recommendations to effectively mitigate and improve a space, whether it’s a home, building, or public transport vehicle.
Trane Technologies brings the most advanced solutions available for indoor air quality, ranging from building controls and filtration to air cleaning solutions and connected building solutions that adapt to the evolving needs of a building and its occupants. CHES is one more way the company continues to advance indoor environments as the world faces both a historic pandemic and a climate crisis.
Partnering with External Experts Trane Technologies has also established an Advisory Council on Healthy Spaces made up of leading experts who will support CHES goals with expertise in medicine, epidemiology, academic research, and policy, across building and transport sectors. Council members will advise on accelerating safer, healthier, and efficient environments in homes, buildings and transport, and on strategies to build resilience for businesses and communities.
In addition, Trane Technologies has become a founding keystone member of the International WELL Building Institute, whose mission is to improve human health and well-being in buildings. Holly Paeper, vice president of Trane’s Commercial HVAC business, will serve as an advisor on the WELL Health-Safety Rating for Sports and Entertainment Venues. Chris Hsieh, commercial applications engineer, will serve as an advisor on the WELL Health-Safety Rating for Facility Operations and Management.
For more information on the Center for Healthy and Efficient Spaces, click here.
*There is evidence from The American Society of Heating, Refrigerating, and Air-Conditioning Engineers (ASHRAE) and other sources that HVAC technologies can mitigate the risk of exposure to infectious aerosols in built environments; however, the transmission and mitigation of COVID-19 in buildings is yet to be tested and confirmed.
About Trane Technologies
Trane Technologies is a global climate innovator. Through our strategic brands Trane® and Thermo King®, and our portfolio of environmentally responsible products and services, we bring efficient and sustainable climate solutions to buildings, homes and transportation. Visit tranetechnologies.com.
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