UniCredit $UCG secured a 47.6% holding in Commerzbank $CBK after investors tendered shares into its €44B offer. The position leaves Andrea Orcel just below the 50% threshold and raises the pressure on German regulators and Berlin.
Abivax $ABVX fell more than 30% after investors focused on cancer-case details in Phase 3 ABTECT maintenance data, despite placebo-adjusted clinical remission rates of 39.3% and 40.3% for 25 mg and 50 mg obefazimod. The company still targets an FDA NDA submission in late Q4 2026.
The United States approved approximately 10 Chinese companies to purchase Nvidia's H200 AI accelerator — the second-most powerful chip in Nvidia's lineup — marking the first meaningful relaxation of semiconductor export controls since 2022. Nvidia stock rose about 2%, and Korean HBM suppliers Samsung Electronics and SK Hynix rallied on the downstream demand implications.
The U.S. Court of International Trade ruled on May 7 that Trump's 10% across-the-board import tariffs exceed presidential authority under the 1977 IEEPA. The decision injects legal uncertainty into the administration's tariff regime but does not automatically suspend collection while appeals proceed.