Gold Dips Ahead Of ECB Rate Decision, US Inflation Data

Ledger completes new fundraising, valuing firm at over $1.5 bln

PARIS, June 10 (Reuters) – French technology and digital company Ledger said on Thursday that it had completed a new $380 million round of fundraising, which Ledger said gave the company a valuation of more than $1.5 billion.

Ledger, which is headquartered in Paris, runs a platform called Ledger-Live which deals with cryptocurrencies.

Tesla to launch high-end Model S 'Plaid'

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It is delivery day at Tesla.

The anticipated event introducing the Tesla Model S Plaid takes place Thursday, rescheduled from June 3.

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The delay was due to the Plaid needing "one more week of tweak", according to Tesla CEO Elon Musk said in a tweet. 

Ticker Security Last Change Change %
TSLA TESLA, INC. 598.78 -4.81 -0.80%

Musk claims the Model S Plaid is the "quickest production car ever made of any kind", which "has to be felt to be believed." 

The Plaid, which has a starting price of $119,900 before gas savings and tax incentives, is capable of traveling from 0 to 60 miles per hour in 1.99 seconds. The Plaid has a top speed of 200 miles per hour and can cover 390 miles per charge, according to the company's website.  

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Tesla delivered a record 184,877 vehicles in the first quarter of 2021, despite "really severe supply chain issues." However, the Model 3 and Y accounted for 182,847 of the deliveries, while the Model S and X accounted for 2,030 deliveries.

Fox Business' Lucas Manfredi contributed to this report.

MITIE Slips To Loss In FY21, Revenues Up; Sees FY22 To Be Materially Ahead Of Prior View

Mitie Group plc (MTO.L), a facilities management and professional services company, Thursday reported that fiscal 2021 loss before tax was 9.1 million pounds, compared to prior year’s profit of 48.4 million pounds.

Loss per share was 0.9 pence, compared to prior year’s profit of 5.8 pence.

Adjusted profit before tax was 46 million pounds, compared to 69.9 million pounds a year ago. Adjusted earnings per share were 3.5 pence, compared to 8.3 pence a year ago.

Group revenue increased to 2.56 billion pounds from prior year’s 2.17 billion pounds.

Looking ahead, the company expects for fiscal 2022 to be materially ahead of prior expectations.

Phil Bentley, Group Chief Executive, said, “As businesses slowly start to reopen and our customers’ employees return to offices, we are starting to see some green shoots of recovery in the variable project and discretionary spend works and we anticipate this continuing as re-occupation plans solidify….Our new strategy will focus on increasing growth, margin enhancement and cash generation. The new Mitie will target, over the medium term, mid single digit revenue growth, margins of 4.5-5.5%, sustainable free cash flow and ROIC in excess of 20%.”

China administered total of 824.86 million doses of COVID-19 vaccines as of June 9

BEIJING (Reuters) – China administered about 15.9 million doses of COVID-19 vaccines on June 9, bringing the total number administered to 824.86 million, data from the National Health Commision showed on Thursday.

States Where the Most People Are Vaccinated

The Biden Administration announced a target goal fully vaccinating 160 million American adults by July 4. Whether or not the timeline is achievable remains to be seen. Currently, 140,441,957 people have been fully vaccinated, or 42.9% of the population.

So far, vaccination coordination efforts have been largely left to states to manage themselves — and some have proven more efficient at it than others. Depending on the state, the share of the population that has been fully vaccinated ranges from as low as 27.8% all the way up to 59.2%.

Regardless of the share of the population each state has managed to vaccinate, data reveals inefficiencies in vaccination campaigns everywhere in the country as millions of doses are currently sitting idle under the purview of state governments, yet to be administered. As of June 8, only about 81.7% of the 372,100,300 doses of the vaccine that have been distributed to the 50 states and Washington D.C. have been administered. In one state, only 65.4% of delivered doses have gone into the arms of residents. Meanwhile, the state that has proven most efficient has used 94.8% of the vaccine doses it has received.

As the virus mutates and new variants spread, vaccinating the population as rapidly as possible is critical. In total, there have been 10,100 known infections for every 100,000 people nationwide.

Gold Dips Ahead Of ECB Rate Decision, US Inflation Data

Gold prices fell on Thursday on a firmer U.S. dollar as investors awaited monetary policy decision from the European Central Bank for more clarity about its stimulus plans amid an improvement in the bloc’s economic outlook.

Spot gold was down half a percent at $1,879.57 per ounce, after having hit one-week low of $1,875.89 earlier. U.S. gold futures fell 0.7 percent to $1,882.95 per ounce.

The ECB decision is due at 7:45 am ET, followed by press conference with chief Christine Lagarde at 8:30 am ET.

The central bank is expected to hold its main refi rate at a record low of zero percent and the deposit rate at -0.50 percent. The marginal lending facility rate is forecast to remain at 0.25 percent.

The increased bond purchases under the Pandemic Emergency Purchase Program is expected to continue in order to prevent a surge in borrowing costs on financial markets.

The ECB will publish its new staff projections and it is forecast to raise the inflation outlook.

Also in focus is key U.S. inflation data, due out later in the day. The data is closely watched to assess the timing of Fed tapering and the prospect of interest rate hikes.

U.S. CPI for May, weekly jobless claims for the week ended June 5 and monthly budget statement for May all are scheduled for release in the New York session.