AGP Executive Report
Last update: 2 hours agoRenewables Deal: TotalEnergies agreed to buy Shell’s European onshore renewables business (about 4 GW of solar, wind and battery assets across Italy, the Netherlands, the UK and Spain) and will also sell a 50% stake in a separate 1.2 GW renewables portfolio to KKR, valuing it at €1.8bn—moves aimed at reshaping capital allocation in Europe’s power transition. Eurozone Manufacturing: The Eurozone factory sector picked up in July, with output rising at the fastest pace in nearly 4.5 years as backlogs were worked through, but demand stayed fragile and firms kept cutting jobs and purchases. German Defense Procurement: Reports say Germany is preparing a follow-on order for up to 250,000 more Heckler & Koch G95A1/G95KA1 rifles, potentially doubling the planned Bundeswehr stock to around 500,000 and supporting a faster readiness build-up. Banking Watch: Deutsche Bank cut its Rentokil Initial target price after softer Q2 trading in North America, citing weaker commercial demand and a shift away from a prior EBIT margin target. Trade Uncertainty: Analysts warn global outlook remains clouded by persistent trade-policy uncertainty and geopolitical risks, with China’s overcapacity debate feeding into tariff and restriction pressure.
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