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ADC Therapeutics Appoints Jose Carmona To Succeed Jenn Creel As CFO
(RTTNews) - ADC Therapeutics SA (ADCT) announced Monday the appointment of Jose "Pepe" Carmona as Chief Financial Officer (CFO), effective December 19, 2022. He will serve on the Company's executive leadership team and succeeds Jenn Creel, who is leaving to pursue other opportunities.
Carmona is a seasoned CFO with over 20 years of leadership, commercial and partnership experience in the pharmaceutical industry, both in the U.S. and internationally.
He most recently served as CFO of Rubius Therapeutics where he was responsible for all financial functions as well as business development, investor relations, information technology and procurement.
Prior to joining Rubius, Carmona was the CFO of Radius Health and Innocoll. During his 12 years at Novartis, Carmona held financial management positions with increasing responsibilities in various divisions and geographies, including CFO Alcon for Europe, Middle East and Africa.
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Japan Producer Price Data Due On Wednesday
Japan will on Tuesday release May figures for producer prices, highlighting a light day for Asia-Pacific economic activity. In April, producer prices were up 0.2 percent on month and 4.0 percent on year.
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Gold Dips As US-China Trade Talks Continue
Gold prices dipped on Tuesday, ahead of US inflation report and ongoing US-China official talks, which is now the focus of investors from all over the world.
Front Month Comex Gold for June delivery lost $11.20 (or 0.34%) to $3320.90 per troy ounce on Tuesday.
Front Month Comex Silver for June delivery lost $14.60 cents (or 0.40%) to $36.542 today.
The much-anticipated high-level trade talks between the world's two largest economies, U.S. and China, began on Monday in London and continued for the second day today.
On the economic data front, the US Labor Department will release Consumer Price Index (CPI) data on Wednesday, which may help to determine the Federal Reserve's monetary policy before the Fed's June 17-18 meeting.
Meanwhile, the World Bank, in its biannual Global Economic Prospects, has cut the global growth forecast to 2.3% from 2.7% for the current year citing "trade barriers" as a reason behind the global slowdown.
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Crude Oil Prices Fade As US-China Talks Progress
Crude oil prices were down on Tuesday amidst uncertainty over trade talks between China and the United States continued, although the outcome remains uncertain.
WTI oil closed down by $0.31 to settle at $64.98 per barrel. August Brent crude was last seen down by $0.03 to $67.01.
To ease the standstill created by the reciprocal tariffs imposed by U.S. President Donald Trump and China, high-level officials from both nations convened at London on Monday to discuss steps to soften the conflict.
As the talks went on for the second day today, Trump told reporters at the White House that the talks were "going well" and that he was "only getting good reports." While U.S. Treasury Secretary Scott Bessent described Monday's talks as "good meeting," the Commerce Secretary Howard Lutnick called them as "fruitful."
On the geopolitical front, however, Russia showed no sign of relenting on its war with Ukraine and continued its attacks.
Limiting the downside, the U.S. Energy Information Administration has reported today that US crude oil production is likely to decline over the next 18 months - while the approach of the summer driving season is also good news.
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Canadian Dollar Appreciates Amid Risk Appetite
The Canadian dollar climbed against its major counterparts in the New York session on Tuesday, as investors monitored trade talks between the U.S. and China that continued for a second day.
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Swiss Market Ends Marginally Down
Save for a very brief while at the start, the Switzerland market stayed weak on Tuesday as investors refrained from making significant moves, choosing to wait for directional clues.
Investors awaited the outcome of the high-level trade discussions between U.S. and Chinese officials in London.
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European Stocks Close On Mixed Note
European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London.
German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.
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TSX Up Marginally; Energy Stocks Rise
After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors.
Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.
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U.S. Stocks Mostly Subdued In Lackluster Trade
U.S. stocks are turning in a mixed performance in lackluster trade on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London.
Trade negotiations between the world's two largest economies commenced on Monday, and no big breakthrough seems to have been arrived as yet.
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