US MARKETS:

-S&P 500 futures down 0.1% to 2,876.25
-Brent Futures down 0.4% to $69.05/bbl
-Gold spot up 0.1% to $1,291.33
-US Dollar Index unchanged at 97.10


GLOBAL NEWS:

Back to the prison box. The audit mission of Renault's ethics department discovered "questionable and concealed practices" by Carlos Ghosn, an expression mentioned in a long press release published yesterday on the executive's 2018 compensation, from which it is clear that the group is not really comfortable with the issue. Independently, the Japanese justice system incarcerated the leader again yesterday, after suspicious transactions were discovered in Oman. Carlos Ghosn announced in parallel his decision to resign from the board of directors of the diamond brand on the date of the next general meeting, scheduled for June 12. Carlos Ghosn's lawyer is planning to release the videos his client wanted to unveil on April 11.

Not so simple. Disagreements are emerging between Deutsche Bank and Commerzbank about the pace of the merger discussions, with the former wishing to take its time and the latter to be quickly established, Reuters learned. At the same time, the Financial Times reveals that Unicredit is ambushed on Commerzbank, in case discussions fail with his compatriot.

A first point on the B737 MAX. Ethiopia released this morning its preliminary report on the crash of Ethiopian Airlines' Boeing 737 MAX. It shows that the crew did indeed apply the emergency procedures recommended by Boeing, but without success. The FAA announced yesterday the establishment of a team of American and international experts to verify the safety of the single aisle. 

Tesla disappoints. The manufacturer is scheduled to meet on April 19 for the presentation of its new autonomous driving system, but that is not what the market is interested in. In parallel, the Californian group reported lower than expected quarterly sales due to delivery difficulties in the European and Chinese markets. Tesla delivered 63,000 vehicles, compared to the consensus expectation of 76,000, but estimates that 10,600 vehicles are currently in transit. The share has dropped off the market and is losing about 7%.

Desperate. Yet another data problem with Facebook, since a cybersecurity firm has found that millions of user data have been made available on Amazon servers. Both groups are now working to hide this data. Facebook has undeniably made great efforts over the past few months, but regularly finds itself caught up in what looks like a lot of sloppiness over the years.

In other news. Bayer victim of a computer attack. China's Tencent closes a giant $6 billion bond issue. Tradeweb will offer shares at USD 27 at its IPO, slightly better than the range initially envisaged (USD 24 to 26). Ford, General Motors and Toyota have joined forces to create an autonomous driving standard. Constellation Brands will sell several brands from its California wine portfolio to E&J Gallo for $1.7 billion. Medacta raises CHF 547 million by placing CHF 96 shares in Zurich. Sika expands its production capacity in Egypt.