Eurozone retail sales YoY slowed to 0.6% in July, below the 1.1% consensus; June was revised up to 1.4% from 0.7%.

Morningstar says Tencent’s AI build-out will not be a sustained cash drain. After large compute purchases for training, the Hunyuan large language model (LLM) is expected to improve quickly; if Hunyuan underperforms, Tencent can lease the hardware to third parties to recoup investment. Morningstar sees the greatest long-term upside from commercializing AI across advertising, gaming and WeChat AI agents. Morningstar projects Tencent’s free cash flow turns positive in 2027, creating scope for larger share buybacks thereafter.

慧與科技首席技術官：甲骨文(ORCL.N)交易將使公司能夠建設千兆瓦級基礎設施。