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According to Syrian National TV: After explosions were heard in Damascus, Syrian President Sala met with French President Macron at the presidential palace.

European Central Bank Governing Council member Panetta: Upward risks to inflation and downside risks to economic growth coexist.

ECB Governing Council Member Panetta: In the current context, the robustness of policy choices is very important.

ECB Governing Council member Panetta: The latest decision to raise interest rates has a solid foundation under various scenarios.

ECB Governing Council member Panetta: Monetary policy must adapt to the changing economy.

ECB Governing Council member Panetta: The outlook remains fragile.

European Central Bank Governing Council Member Panetta: This round of energy shock is not a repeat of the situation in 2022.

Security sources said a series of explosions occurred in Damascus near a hotel where French President Emmanuel Macron is staying.

Dragged down by the previous decline in Samsung Electronics' stock price, European chip stocks fell, with ASML, STMicroelectronics, Infineon, ASMI, Beth Semiconductor, and SOITEC falling between 3% and 7%.

Regarding the impact of SK Hynix's listing on the US stock market on Micron Technology, in the short term (within 3 months), the two stocks may rise and fall together, rather than simply grabbing business. In terms of liquidity, the US$29 billion draws from the capital pool of the entire AI sector, which tightens the capital pool and causes all stocks to fall together. If funds are sufficient, everyone will rise together. But if SK Hynix rises sharply that day, but Micron itself plummets, or the rest of the sector plummets together, I will think that the amount of funds and liquidity of the entire AI sector is actually not as optimistic as I imagined, and then I will be more conservative and wait for the correction in August to October. In the mid-term (half a year to a year and a half), the real competition between the two companies has just begun. The main market share and product they compete for is HBM4. The current situation is that SK Hynix accounts for 56%, and Micron only accounts for about 21%; the HBM4 forecast pattern in 2026 is that Hynix accounts for 54%, Samsung 28%, and Micron 18%. The key point is that the US$29 billion raised will be directly invested in Hynix's new factory and EUV equipment, which is equivalent to the boss adding the most chips to the poker table. The overall shortage of goods in the industry remains unchanged, and all three companies are making money. But Micron can no longer rely on the dividends of being the only son of U.S. stocks to make money. But what is very interesting is that Micron is favored by Trump alone, and Trump has repeatedly supported Micron in public. This makes me very confident that no matter how strong SK Hynix is ​​in the mid-term, Micron will not lose miserably. In the long term (after 2027), it depends on who can survive the cold winter period of oversupply. Although storage is gradually getting rid of the cyclical label under the current AI trend, we still need to be alert to the possibility of oversupply in 2028-2029. That’s what winter means for storage. At present, Hynix has received US$29 billion in equity capital at the peak of its stored dividends. Its defensive/capital chain will be better than Micron's, and it can better resist the oversupply crisis in the future. This is the most profound disadvantage to Micron. (The above is from analyst Emily Scarlet, for reference only)

The German DAX30 index opened down 42.58 points, or 0.16%, to 25789.94 points on July 7 (Tuesday);The British FTSE 100 index opened up 7.56 points, or 0.07%, to 10659.33 points on July 7 (Tuesday); The FCHI index opened up 28.26 points, or 0.33%, at 8508.13 points on July 7 (Tuesday); The European Stoxx 50 Index opened down 18.06 points, or 0.28%, at 6379.95 points at the opening on July 7 (Tuesday); The Spanish IBEX35 index opened up 25.79 points, or 0.13%, to 19709.59 points on July 7 (Tuesday); The Italian FTSE MIB index opened up 38.36 points, or 0.07%, to 52997.50 points on July 7 (Tuesday).

Switzerland’s foreign exchange reserves in June were 758.794 billion Swiss francs, the previous value was revised from 710.8 billion Swiss francs to 710.9 billion Swiss francs.

Sources: The United States is negotiating with Germany and other European countries on joint production of Raytheon's AIM-120 AMRAM missiles in Europe

Source: The United States is negotiating with Germany, the Netherlands, Poland and Sweden on setting up a Lockheed Martin PAC-3 Patriot missile maintenance facility in Europe.

France imported 60.509 billion euros in May, and the previous value was revised from 60.225 billion euros to 60.077 billion euros.

France exported 53.581 billion euros in May, the previous value was revised from 54.585 billion euros to 54.661 billion euros.

France’s trade balance in May was -6.928 billion euros, and the previous value was revised from -5.64 billion euros to -5.416 billion euros.

France's trade balance for May is due in ten minutes.

Australia's S&P/ASX200 index closed down 22.80 points, or 0.26%, on Tuesday, July 7, at 8808.20 points.

Lloyds Bank: The outlook for UK house prices depends largely on whether household confidence can gradually improve and whether inflation can ease.