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Russian troops fail to advance while Ukraine gets military and financial aid | Russia-Ukraine war news
Ukraine and Russia have sought international military agreements as their forces have largely remained in a stalemate over the past week.
Russia has been unable to advance into eastern Ukraine and has even lost ground in its most recent incursion into the northern Kharkiv region, which was designed to distract Ukrainian defenders.
On Tuesday, Ukrainian troops recaptured positions southwest of Vovchansk, the main point of the Russian incursion into Kharkiv, and reportedly recaptured the settlement of Tykhe, west of Vovchansk.
On Wednesday, Colonel Yuriy Povkh, a spokesman for the Ukrainian forces in Kharkiv, said that “dozens” of Russian soldiers were trapped in the center of Vovchansk. Other reports put the number of Russian soldiers at 200.
On June 13, Ukrainian President Volodymyr Zelenskyy said he had signed 10-year security agreements with Japan and the United States on G7 Summit in Apulia, Italy. The deal with Japan would give Ukraine $4.5 billion in military, humanitarian and financial aid this year alone, he said.
(Al Jazeera)
The value of the defense deal with the US over the next 10 years has not been stated.
The White House said it would “support the full range of Ukraine’s current defensive needs, now and in the long term, helping Ukraine win the war.”
The US Congress this year approved $61 billion in military aid to Ukraine, and US President Joe Biden, who faces elections in November, has tried to force any future administration to maintain aid to Ukraine. The G7 agreement was made by the executive branch, is not a ratified treaty and could be revoked by a future president.
Although Ukraine has signed agreements with 15 countries and has about 15 other such agreements under negotiation, NATO Secretary General Jens Stoltenberg said the alliance was considering making aid to Kiev mandatory to ensure it remained “reliable.” and on a large scale.”
The nature of this safeguard would be to protect Ukraine against government changes and control alliance outliers such as Hungary, which has refused to provide military aid to Kiev’s forces.
Prime Minister Viktor Orbán on May 24, said Hungary was “working intensively to figure out how to avoid participating in [a NATO-Russia] war while remaining a member of NATO,” according to Russian state news agency Tass. “Our lawyers and military are currently working on this.”
Meanwhile, Russian President Vladimir Putin signed a comprehensive strategic partnership agreement with North Korean leader Kim Jong Un on Wednesday, which he said included “mutual assistance in the event of aggression.”
Putin, who visited Pyongyang to sign the agreement, said he “does not rule out the development of military-technical cooperation” with North Korea.
During his visit to Russia in September, Kim expressed interest in ballistic missile technology and wanted Russian help in launching satellites.
US national security spokesman John Kirby said Washington was alarmed by the closer cooperation between Russia and North Korea.
(Al Jazeera)
Other forms of assistance to Ukraine were also announced.
O G7 Summit promised to break new ground in aid to Ukraine, providing $50 billion this year in the form of a US loan. The loan would be guaranteed by interest from $300 billion in Russian assets frozen in the territories of Ukraine’s allies, mainly the European Union.
Last month, the EU announced would send Ukraine about $3 billion a year in interest earned on Russian assets on its soil. It was not immediately clear whether this amount would now be incorporated into the US loan. Russia warned that it would reciprocate any direct seizure of its assets on Western soil.
The US also announced new sanctions against 300 individuals and entities in Russia and China, in an attempt to fill gaps around existing measures. The sanctions included Russian banks Sberbank, VTB Bank and Tochka Bank and Russian defense conglomerate Rostec.
Mikhail Zvinchuk, founder of a Kremlin-associated channel on the Telegram platform, told the new Bosnian service BanjaLuka.net that the sanctions were having an effect on Russia’s defense industry and war economy.
(Al Jazeera)
Ukraine’s allies and neutral countries met last weekend in Burgenstock, Switzerland, in a first international peace conference carried out for the Ukrainian war.
More than 80 countries agreed that the threat of using nuclear weapons and turning food into weapons – both accused by Russia – were unacceptable. Russia and China did not participate in the talks, but Moscow has previously said it rejects Zelenskyy’s peace terms, including a full Russian withdrawal from occupied territories.
Ukraine continued to attack Russian energy facilities throughout the week, a policy begun in January.
Geolocated images showed a Russian oil terminal in Azov in flames on Monday and Tuesday. Ukraine also struck an oil facility in Chushka.
Ukraine was not authorized to use US-made Army Tactical Missile Systems (ATACMS) against targets in Russia, except in areas immediately north of Kharkiv, where the new incursion was launched on May 10. this policy last week.
The Kharkiv region is on the border with Russia and its capital, also called Kharkiv, is 30 km (20 miles) from the border.
Ukraine has been using drones of its own making and last week said it also used its own Neptune missiles on Russian soil to attack the oil installation in Chushka, east of Crimea, last week, and in neighboring Kavkaz on May 31. .
Ukraine used Neptune missiles to sink the Russian missile carrier Moskva in April 2022.
Ukraine also clarified that it damaged two Sukhoi-57 fighter jets in a strike more than 500 km (311 miles) from the front lines this month, not one as initially reported.
Ukraine’s strikes have been particularly successful against air defense systems in Crimea, where it has destroyed 15 systems, according to Ukrainian military intelligence – three of them in the past two weeks.
Kyril Budanov, head of intelligence, said Russia has now resorted to stationing an experimental S-500 system in the country.
(Al Jazeera)
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The spotlight next week will shift somewhat to the Federal Reserve’s second-quarter earnings season and monetary policy. Market watchers will be treated to results from several major names, including Dow 30 components Goldman Sachs (GS), UnitedHealth (UNH), Johnson & Johnson (JNJ) and American Express (AXP), along with streaming giant Netflix (NFLX).
The Fed will still attract some attention as investors will be eager to hear from a packed lineup of central bank speakers just before the policy meeting lockout period.
In terms of the economic calendar, after fifteen days of labor market and inflation indicators, activity data will gain momentum in the form of the latest retail sales and industrial production reports.
Earnings Highlight: Monday, July 15 – Goldman Sachs (GS) and BlackRock (Black). See the full earnings calendar.
Earnings Highlight: Tuesday, July 16 – UnitedHealth (UNH), Bank of America (BAC), Progressive (PGR), Morgan Stanley (IN), PNC Financial (PNC) and JB Hunt Transport (JBHT). See the full earnings calendar.
Earnings Highlight: Wednesday, July 17 – Johnson & Johnson (JNJ), US Bancorp (USB), Morgan Children (KMI), United Airlines (UAL) and Ally Financial (ALLY). See the full earnings calendar.
Earnings Highlight: Thursday, July 18 – Netflix (NFLX), Abbott Laboratories (ABT), Black stone (BX), Domino’s pizza (ZDP) and Taiwan Semiconductor Manufacturing (TSM). See the full earnings calendar.
Earnings Highlight: Friday, July 19 – American Express (AXP), Halliburton (THANKS) and Travelers (VRT (return to recoverable value)) See the full earnings calendar.
IPO Observation: Hospital and healthcare clinic operator Ardent Health Partners (TARDT), insurance service provider Twfg (TWFG) and the biotechnology company Lirum Therapeutics (LRTX) are expected to price their IPOs and begin trading next week. The analyst quiet period ends at Rectitude (RECT) to free up analysts to publish ratings.
Police cars outside the residence of Thomas Matthew Crooks, the suspected shooter at a Trump rally on Saturday, investigate the area in Pennsylvania. Following the incident, one rally attendee was killed, two rally attendees are in critical condition and Donald Trump suffered a non-fatal gunshot wound. The shooter is dead after being shot dead by the United States Secret Service. (Photo by Kyle Mazza/Anadolu via Getty Images)
Investors will initially favor traditional safe-haven assets and may lean toward trades more closely tied to former President Donald Trump’s chances of winning the White House after he survived an assassination attempt, according to market watchers.
“There will undoubtedly be some protectionist or safe-haven flows into Asia early this morning,” said Nick Twidale, chief market analyst at ATFX Global Markets. “I suspect gold could test all-time highs, we’ll see the yen being bought and the dollar, and flows into Treasuries as well.”
Early market commentary suggested Trump’s shooting at a rally in Pennsylvania on Saturday could also prompt traders to increase his likelihood of success in the November election. His support for looser fiscal policy and higher tariffs is generally seen as likely to benefit the dollar and weaken Treasuries.
An indicator of market sentiment heading into the weekend: Bitcoin surged above $60,000, likely reflecting Trump’s pro-crypto stance.
Other assets positively linked to the so-called Trump trade include stocks of energy companies, private prisons, credit card companies and health insurers.
Traders will also be closely watching market measures of expected volatility on Monday, such as those in the tariff-sensitive Chinese yuan and Mexican peso, which have begun to price in the U.S. vote.
Trump said he was shot in the right ear after a shooting at his rally. His campaign said in a statement that he was “fine” after the incident, which prompted him to rush off the stage.
“Currencies will be the first major market on Monday in Asia to react to the weekend’s shots. There’s potential for extra volatility, and getting a clear reading could be especially difficult because liquidity will be hurt by Japan’s national holiday,” said Garfield Reynolds, Asia team leader for Bloomberg Markets Live.
Strategists had already expected a volatile run-up to the election, particularly as Democrats are still agonizing over President Joe Biden’s candidacy after his poor performance in last month’s debate raised questions about his age. Investors were also grappling with the possibility that the election could end in a drawn-out dispute or political violence.
But there is little precedent for events like those in Pennsylvania. When President Ronald Reagan was shot four decades ago, the stock market plunged before closing early. The next day, March 31, 1981, the S&P 500 rose more than 1% and benchmark 10-year Treasury yields fell 9 basis points to 13.13%, according to data compiled by Bloomberg.
Bond investors should pay particular attention as the attack is likely to boost Trump’s election chances and ultimately lead to concerns about the fiscal outlook, according to Marko Papic, chief strategist at California-based BCA Research Inc.
“The bond market must at some point become aware of President Trump’s greater chances of winning the White House than any of his rivals,” Papic wrote. “And I continue to believe that as his chances increase, so too must the likelihood of a bond market revolt.”
Kyle Rodda, senior financial markets analyst at Capital.com, said he was seeing client flows into Bitcoin and gold following the shooting.
“This news marks a turning point in American policy norms,” he said. “For markets, it means safe-haven trades, but more tilted toward non-traditional safe-havens.”
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Jio Financial share price: Should you buy this Reliance group stock on Monday ahead of Q1 FY2024 results?
Q1 2024 Results: Jio Financial Share Price will be in focus on Monday as the Reliance Group company has a fixed board meeting on July 15, 2024 to consider and approve the company’s unaudited standalone and consolidated financial results. Trust Group company informed about the Q1 2024 Results date on Wednesday last week via an exchange filing. According to stock market experts, Jio Financial Services Limited is poised to deliver impressive Q1 results for FY25 on solid operating income. They have forecast a healthy QoQ PAT for the company in Q1 FY25.
Jio Financial Services News
Speaking on the Jio Financial Services Q1 2024 results, Manish Chowdhury, Head of Research, StoxBox, said, “We believe Jio Financial Services is poised to deliver impressive results in Q1FY25 aided by its operating income, which is likely to show robust growth driven by strong investment income, which in turn should lead to healthy PAT growth on a sequential basis. Jio Financial Services continues to make strategic moves such as launching digital products and expanding its ecosystem, with a clear focus on future growth. The company has announced plans to introduce products for lending against stocks and mutual funds, leveraging Jio’s large user base, which could be a significant growth driver in the coming quarters.”
“Furthermore, with the NBFC receiving RBI approval to become a primary investment company, Jio Financial Services is well-positioned to unlock value from its investments. Overall, we expect the company to report robust numbers in the upcoming quarter,” the StoxBox expert added.
Jio Financial Stock Target Price
Speaking about the technical outlook of Jio Financial share price, Ganesh Dongre, Senior Manager, Technical Research at Anand Rathi, said, “Jio Financial Services share price is poised to make a fresh high at the ₹260 apiece level. If the stock breaks above this mark, the Reliance Group stock could make a fresh high by touching the ₹290-₹295 zone. Hence, those with Jio Finance stock in their portfolio are advised to stick to the script by keeping a stop loss at ₹205. If the stock breaks above ₹260 decisively, then one can upgrade the stop loss at ₹240 for the near-term target of ₹295.”
On the advice to new buyers regarding Jio Financial stock, Ganesh Dongre said, “New buyers are advised to wait for the breakout. Once the stock breaks above ₹260, one can buy this Reliance Group stock at the short term target of ₹295, keeping a stop loss of ₹240 apiece.”
Disclaimer: The views and recommendations made above are those of individual analysts or brokerage firms, and not of Mint. Investors are advised to consult with certified experts before making any investment decisions.
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