In this photo provided by U.S. Navy, French submarine FNS Amethyste (S605) transits the Thames River in preparation to arrive at Naval Submarine Base New London in Groton, Conn., Sept. 1, 2021. Australia's Prime Minister Scott Morrison on Friday, Sept. 17, rejected Chinese criticism of Australia's new nuclear submarine alliance with the United States and said he doesn’t mind that President Joe Biden might have forgotten his name. (Chief Mass Communication Specialist Joshua Karsten/U.S. Navy via AP)
CANBERRA, Australia (AP) —
French and Australian officials said Monday that France’s anger over a canceled submarine contract will not derail negotiations on an Australia-European Union free trade deal.
France withdrew its ambassadors to the United States and Australia after President Joe Biden revealed last week a new alliance including Australia and Britain that would deliver an Australian fleet of at least eight nuclear-powered submarines.
The deal sunk a 90 billion Australian dollar ($66 billion) contract for French majority state-owned Naval Group to build 12 conventional diesel-electric submarines for Australia. The money would have been spent over 35 years.
French Ambassador to Australia Jean-Pierre Thebault denied media reports that France was lobbying the European Union not to sign the trade deal with Australia that has been under negotiation since 2018.
“At this stage, negotiations do continue and there is a strong interest ... for Australia to have a free trade agreement with the EU,” Thebault told Australian Broadcasting Corp. from Paris.
Such a deal “has the potential to deliver a huge amount of benefits for Australia,” Thebault added.
Australian Trade Minister Dan Tehan said he would travel to Paris within weeks for trade negations and was “very keen to touch base with my French counterpart,” Franck Riester.
“There’s a strong understanding from my recent trip to Europe to discuss the EU free trade agreement this is in the mutual interests of both Australia and of Europe,” Tehan said, referring to an April visit.
“I see no reason why those discussions won’t continue,” Tehan added.
French President Emmanuel Macron will speak in the coming days with Biden in their first contact since the diplomatic crisis erupted.
Australian Prime Minister Scott Morrison flew to the United States on Monday for a meeting with Biden and the leaders of India and Japan that make up the Quad security forum.
“This is all about, always about ensuring that Australia’s sovereign interests will be put first to ensure that Australians here can live peacefully with the many others in our region, because that’s what we desire as a peaceful and free nation,” Morrison said before departing Sydney.7 Undervalued Stocks in an Overvalued Market
In June 2021 the investment firm, Bespoke Investments made this ominous pronouncement: “Investors simultaneously think the market is overvalued, but likely to keep climbing.”
This statement was meant to be a warning to investors. However, investors have shown that they can be very resilient even as the major indices continue to reach new highs.
So it would seem strange to be looking at a list of undervalued stocks. But looking at undervalued stocks is a form of value investing. And in 2021, investors are shifting between growth and value investing on a monthly, if not weekly basis.
An undervalued stock is one that is considered to be trading below its fair value. However, there’s no singular right way to identify undervalued stocks. Some investors prefer to look at fundamental metrics. Others will look for technical signals.
The one common element of all undervalued stocks is that they are stocks that have room to grow. That’s something that all investors can get behind. And in this special presentation, we’ll take a look at seven stocks that are showing signs of being undervalued at this time.
View the "7 Undervalued Stocks in an Overvalued Market"