Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets, CFDs, OTC options or any of our other products work and whether you can afford to take the high risk of losing your money.

69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Mondelēz share price climbs after $2.9bn Clif Bar bid

In today’s top stories, Mondelēz snaps up Clif Bar for $2.9bn, ProShares launches the first short-bitcoin fund and JetBlue raises its takeover offer for Spirit Airlines. Meanwhile, Tencent cuts its Koolearn stake and UBS reveals its EV stock picks.

JetBlue boosts Spirit offer

After being rebuffed by Spirit [SAVE] earlier this year, JetBlue [JBLUE] stepped up its takeover bid. While the Spirit board favours a merger with Frontier [ULCC], JetBlue is now trying to sweeten the deal by raising its offer from $31.50 per share to $33.50. Were more convinced than ever that a JetBlue-Spirit transaction would create a true national competitor [and] deliver value to all of our stakeholders,” said JetBlue CEO Robin Hayes.

Mondelēz acquires energy bar brand

Energy food and drinks maker Clif Bar is being gobbled up by Mondelēz [MDLZ] for $2.9.bn. Clif Bar CEO Sally Grimes believes Mondelez to be the right partner at the right time” to fuel the companys next growth chapter. She described their purposes and cultures as aligned”. The Cadbury makers appetite for M&A has seen it do several deals over the past four years, including buying UK energy bar brand, Grenade, for £200m.

UBS picks EV plays

EV makers continue to report strong sales, but as demand grows, investors would be wise to look to the technology supply chains. UBS analysts led by Grace Chen recommend Infineon [IFX.DE], which manufactures semiconductors for EV powertrains, according to CNBC. Another recommendation of theirs is Nvidia [NVDA] given its partnerships with Mercedes and Jaguar Land Rover. Delta Electronics [2308.TW] and Valeo [FR.PA] are other picks.

ProShares launches short bitcoin ETF

As crypto prices crater, ProShares has launched a short bitcoin ETF in the US, the first of its kind. The move is in stark contrast to when it launched the futures-linked bitcoin ETF in October of last year but comes at a time when cryptocurrency stocks are reeling. Amid the downturn, Sensor Tower data shows that ad spending by crypto companies has plunged 90% since November 2021.

Tencent cuts Koolearn stake

Chinese education stocks have been burned in recent months amid concerns that tutoring companies might have to become non-profits or otherwise pivot their business. When Koolearn Technology [1797.HK] announced a move into live streaming ecommerce earlier this month, the share price soared 684% in nine trading sessions through 16 June. Fears that the stock is overbought has led Tencent [0700.HK] to cut its stake from 9% to 1.6%, according to Bloomberg.

Navigating the crypto winter

Confidence in blockchain and DeFi is at a low following the crash of Terra and Luna. Equities with exposure to cryptocurrencies have been affected. Coinbase [COIN] is to cut jobs to weather the crypto winter, which analysts believe is a wise move. MicroStrategy [MSTR] founder Michael Saylor has doubled down on bitcoin and has touted it as the future of DeFi, while crypto miner Riot [RIOT] hopes to boost its hash rate.

Investors increase thematic exposure

Almost all — 98% — wealth managers expect to increase their exposure to thematic funds over the next 12 months, according to HANetfs review for the period January to April. Currently, 73.3% of respondents have over 15% exposure to thematic funds in the portfolios. Blockchain and DeFi along with clean and renewable energy are the two themes that theyre most bullish about. EV and charging infrastructure is viewed least favourably.

Disclaimer Past performance is not a reliable indicator of future results.

CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.

CMC Markets does not endorse or offer opinion on the trading strategies used by the author. Their trading strategies do not guarantee any return and CMC Markets shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein.

*Tax treatment depends on individual circumstances and can change or may differ in a jurisdiction other than the UK.

Continue reading for FREE

Latest articles