LATE CHECK-IN – companies and markets | News

Evening Market Review, Compiled by Dow Jones Newswires:

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+++++ SHARE MARKETS (18:32) +++++

INDEX reading + -% + -% YTD

EuroStoxx50 3,806.74 -0.83% -11.44%

Stoxx50 3 669.19 -0.24% -3.91%

DAX 14 556.62 -0.66% -8.36%

FTSE 7 602.05 -0.08% + 3.03%

CAC 6,500.35 -0.74% -9.12%

DJIA 32 880.45 -0.11% -9.52%

S&P 500 4 116.62 -0.12% -13.63%

Nasdaq Comp. 12,044.82 -0.14% -23.01%

Nasdaq-100 12 582.40 -0.14% -22.90%

Nikkei-225 27 943.95 + 0.10% -2.94%

EUREX stand + ticks

The future of the Bund 149.34% +35

+++++ GOODS MARKETS +++++

ROHL last VT-Settl. +/-% +/- USD% YTD

WTI / Nymex 119.16 118.50 + 0.6% 0.66 + 63.7%

Brent / ICE 120.24 119.51 + 0.6% 0.73 + 59.4%

METALS last day before +/-% +/- USD% YTD

Gold (spot) 1,852.75 1,841.47 + 0.6% +11.28 + 1.3%

Silver (Spot) 22.23 22.08 + 0.7% +0.15 -4.6%

Platinum (Spot) 1,013.65 1,022.00 -0.8% -8.35 + 4.5%

The future of copper 4.42 4.44 -0.4% -0.02 -0.7%

+++++ US FINANCIAL MARKET +++++

US stock exchanges are recovering their initial losses in trading. Concerns about stagflation still dominate the market, but failures will also be used to re-enter the market. Sentiment was weighed down by a warning about retailer’s earnings Target and a larger-than-expected rate hike in Australia. Target has reduced its losses from over 6 percent initially to 3.6 percent now. The retailer warned against a decline in earnings because, inter alia, higher discounts are needed when selling goods. Retailers see this as a clear sign of falling consumer spending. That view weighs heavily on other industry stocks: Walmart and Costco lost 2.1 percent and 1.4 percent, respectively, while Amazon lost 2.2 percent. The sector tops the loser list with a 2.0 percent discount. Countering the sector trend, Kohl’s grew 8.1 percent. The company is in advanced sales talks. Peloton Interactive fell by 1.1 percent. The company also changes its chief financial officer just four months after the appointment of a new president. Apple gains 0.8 percent. The American tech group wants to offer American customers an installment payment option.

+++++ ECONOMIC PERSPECTIVES ++++++

– US

22:30 raw inventory data (week) of private

American Petroleum Institute (API)

+++++ FINANCIAL MARKETS EUROPE +++++

Concerns about inflation and interest rates weighed on prices again. The ECB is expected to take the first steps to tighten monetary policy on Thursday. In Australia, the central bank unexpectedly raised interest rates significantly while signaling that a further tightening was imminent. The muffler also came from incoming German orders. UK retail sales were also weak. In the US, Target, the eighth largest retailer, issued a profit warning. Retail stocks lost 0.8% and interest-bearing technology companies – 1.2%. Casino Guichard lost 4.1 percent. There have been reports that the supermarket chain is struggling to find potential buyers for its renewable energy subsidiary. Consumption equities were also under pressure on the DAX as high inflation destroys consumer budgets. Adidas dropped 1.2 percent, stock flies out of the Stoxx 50. Glencore, who was promoted, lost “only” 0.3 percent. Other commodity stocks also enjoyed stronger demand: the commodities index topped the sectors with a positive 1.3%. SGL Carbon rose by about 11 percent thanks to better outlook. Mediaset Espana (+ 2.0%) benefited from MFE-Mediaforeurope (-2.1%) raising its bid to take over all remaining shares. SAS fell by almost 14 percent. The Swedish government has declared that it is no longer willing to continue capital injections.

+++++ CURRENCIES +++++

FOREX last +/-% Tue 9:44 Mon 17:37% YTD

EUR / USD 1.0704 + 0.1% 1.0687 1.0690 -5.9%

EUR / JPY 141.93 + 0.6% 141.86 140.66 + 8.4%

EUR / CHF 1.0415 + 0.3% 1.0414 1.0358 + 0.4%

EUR / GBP 0.8499 -0.4% 0.8565 0.8531 + 1.1%

USD / JPY 132.58 + 0.5% 132.75 131.58 + 15.2%

GBP / USD 1.2596 + 0.5% 1.2477 1.2530 -6.9%

USD / CNH (offshore) 6.6736 + 0.3% 6.6715 6.6573 + 5.0%

Bitcoin

BTC / USD 29 790.15 -5.4% 29 546.90 31 298.10 -35.6%

The dollar is sinking in the wake of falling interest rates on the American market, the dollar index drops by 0.1 percent.

+++++ EAST ASIA FINANCIAL MARKETS +++++

There was no clear trend on the stock exchanges. The Sydney Stock Exchange recorded greater losses. The Reserve Bank of Australia (RBA) raised interest rates more than expected, showing determination in response to the worsening inflation outlook. The main interest rate was raised by 50 basis points to 0.85%. All sectors in Sydney ended up declining, with tech, retail and banking companies on the loser list. Stocks of ANZ, Westpac, Commonwealth Bank and National Australia Bank fell between 1.5 and 3.3 percent. Zip payment service provider’s documents collapsed by 14 percent and fell to their lowest level in 5 years. Tokyo’s Nikkei-225 returned most of its late-trade premium. Here the weaker yen was supported. The dollar climbed to its 20-year high against the Japanese currency. First of all, export stocks increased. Nissan Motor shares increased by 2.6 percent and Subaru shares by 3.2 percent. The Shanghai Composite ended higher, continuing the positive trend from the previous day. Charges on car value prevented a more significant increase. Here, SAIC Motor and Great Wall Motor fell by 2.4 and 3.5 percent respectively. In Seoul, Kospi collapsed after the summer break. Taxes in the technology sector had a negative impact here.

+++++ COMPANY REPORTS FROM 13.30 +++++

Fresenius CEO: The sale of FMC is by no means a finalized transaction

For the healthcare group Fresenius, the partial or even total sale of its dialysis subsidiary Fresenius Medical Care (FMC) is by no means a finalized transaction. This was explained by the CEO of Fresenius SE & Co KGaA, Stephan Sturm, in an interview with the staff newspaper. It’s about making the best use of FMC’s development opportunities – under our roof or handing them over to new hands who may even be better at it than we do, ”says Sturm. However, such a sale would have to be of benefit to all interested parties and should therefore be carefully considered.

Repsol is reviewing options for the mining business – strategic for the division

Spanish oil company Repsol is considering various options for its mining operations, but has yet to make a decision. “Repsol says it views its exploration and production activities as strategic, which includes long-term maintenance and consolidation,” said Repsol. The Reuters news agency said, citing unspecified sources, Repsol is in early negotiations with US fund EIG Global Energy Partners to sell up to 25 percent of its mining operations.

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Contact the author: maerkte.de@dowjones.com

DJG / flf

(END) Dow Jones Newswires

June 07 2022 12:34 ET (4:34 PM GMT)

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