LATE CHECK-IN – companies and markets | News

Evening Market Review, Compiled by Dow Jones Newswires:

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+++++ HOLIDAY NOTIFICATION +++++

MONDAY: Australia’s stock markets remain closed for the Queen’s birthday (regional banking holiday).

+++++ SHARE MARKETS (18:22) +++++

INDEX reading + -% + -% YTD

EuroStoxx50 3 724.45 -1.70% -13.35%

Stoxx50 3 600.19 -1.35% -5.72%

DAX 14 198.80 -1.71% -10.61%

FTSE 7,483.08 -1.45% + 2.82%

CAC 6 358.46 -1.40% -11.11%

DJIA 32 752.34 -0.48% -9.87%

S&P 500 4,091.16 -0.60% -14.16%

Nasdaq Comp. 12,004.19 -0.68% -23.27%

Nasdaq-100 12,550.29 -0.51% -23.10%

Nikkei-225 28 246.53 + 0.04% -1.89%

EUREX stand + ticks

Future of Bunds 147.83% -86

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

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

WTI / Nymex 121.52 122.11 -0.5% -0.59 + 67.0%

Brent / ICE 123.16 123.58 -0.3% -0.42 + 63.3%

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

Gold (spot) 1,847.35 1,853.43 -0.3% -6.08 + 1.0%

Silver (Spot) 21.73 22.06 -1.5% -0.33 -6.8%

Platinum (Spot) 976.85 1,009.50 -3.2% -32.65 + 0.7%

The future of copper 4.39 4.46 -1.6% -0.07 -1.5%

Rising market interest rates drive down the price of gold. Oil prices are also falling. They say inflation and interest rate hikes can hold back the economy and thus affect the demand for oil.

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

Wall Street continued Thursday’s losses from the previous day. The ECB announced interest rate hikes for July and September and raised its inflation forecast for 2022 and 2023. “The inflation forecast for next year is much higher than expected,” commented one trader. This would mean that the rate hike cycle would have to last longer ”. The fact that interest rate returns have now also started on the other side of the Atlantic is a burden on US stock exchanges. According to slightly weaker than expected weekly US employment data, Tesla rose by 3 percent. after UBS Five raised to “buy” Below 3.5 percent. expectations with Q1 results and raised sales forecast NXP gains 6.7 percent on new speculation about Samsung’s interest.

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

No more dates have been announced.

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

The ECB’s interest rate decision pushed the equity markets into the negative side. Announcement rate hike by 0.25 percent only at the next July meeting was it considered the smallest possible reaction to high inflation. Additionally, the inflation forecast was terrifying. As a consequence, the cycle of interest rate increases should now be longer than previously thought. This resulted in an increase in profitability, especially in Italy. Interest rate-sensitive tech stocks such as Infineon (-3.4%) were under pressure across Europe. Retail stocks fell with two earnings warnings. The warning strikes by German dock workers showed how current the problem of inflationary pressure caused by the wage-price spiral is. Logistics stocks such as Deutsche Post and Hapag-Lloyd fell to 3.2%. Zalando’s online retailer and competitor, Boozt, have lowered their prospects. Shares fell 18 percent. In London, DFS Furniture warned that inventories were down 12 percent. Zalando lost 8.5 percent, Westwing lost 7.8 percent. Beiersdorf increased by 4.2 percent. Apart from the imminent re-admission to the DAX index, there were also positive comments from the capital market. EDF gained 6.3 percent. The driver of the course was a report that the government was considering a full takeover.

+++++ CURRENCIES +++++

FOREX last +/-% Thu 10:00 17:31% YTD

EUR / USD 1.0646 -0.7% 1.0698 1.0738 -6.4%

EUR / JPY 142.87 -0.7% 142.86 143.78 + 9.2%

EUR / CHF 1.0421 -0.6% 1.0481 1.0467 + 0.5%

EUR / GBP 0.8510 -0.4% 0.8563 0.8559 + 1.3%

USD / JPY 134.17 -0.0% 133.46 133.88 + 16.6%

GBP / USD 1.2512 -0.2% 1.2495 1.2547 -7.5%

USD / CNH (offshore) 6.6965 -0.1% 6.6923 6.6899 + 5.4%

Bitcoin

BTC / USD 30 179.75 -0.7% 30 506.34 30 459.14 -34.7%

The euro comes after the ECB’s decisions and a later press conference with the president Krystyna Lagarde much weaker. In the meantime, the single currency reacted with subsidies. According to Monex Europe analysts, Lagarde suggested that the 50bp step in the announced second rate hike in September is far from certain.

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

Weak US targets and lingering concerns about the economy weighed on stock markets. The late turn losses partially increased. Weak economic outlook continues to negatively affect sentiment. The day before, they were driven by the World Bank and OECD, which drastically lowered their forecasts for global growth. On top of that, oil prices continued to rise, fueling fears of persistently high inflation. There are also new worries about the crown in Shanghai. Good trade data in China were not supportive. In Seoul, the transportation sector has been under pressure from ongoing strikes by South Korean truck drivers. Sydney’s commodity shares were weaker. The Nikkei-225 in Tokyo also lost gains in late trading. The mood was to some extent supported by the still weak yen. Subaru gained 2.1 percent, Nissan Motor gained 1.9 percent and Softbank gained 1.7 percent. Softbank market participants also commented on the strong gains in Alibaba’s shares in the US, in which the company has a share. Alibaba shares rose by another 1.2 percent. The reason is hopes for a relaxation of Chinese regulations for the tech sector. In turn, Sharp fell by 5.7 percent. For the fiscal year, the group expects net profit to decline by 32 percent.

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

Cherry buys back shares up to EUR 25 million

Cherry AG is launching a share buyback program. The manufacturer of peripheral devices for desktop computers wants to buy back up to 2 million of its own shares from June 13 this year. by June 30 next year. This would correspond to 8.2% of the current share capital. The share buyback would cost Cherry a maximum of EUR 25 million. According to the information provided, the purchased shares may be used for all purposes approved by the General Meeting of the previous year, in particular as an acquisition currency or for employee participation programs.

The main shareholder of Immofinanz rejects the dividend for 2021

The shareholders of the Austrian company Immofinanz AG do not receive any dividends. As reported by a real estate company, the majority shareholder of CPI Property informed the company that it does not support the payment of dividends for 2021. Instead, the balance sheet profit is to be transferred to a new account. For 2020, EUR 0.75 per share has been committed.

France is investigating a complaint regarding the safety of the EDF nuclear power plant

French prosecutors are investigating alleged safety issues at a nuclear power plant operated by EDF SA. Prosecutors in Marseille opened an investigation last month after a former top official at the southern French power plant Tricastin filed a complaint, accusing the plant of pursuing a policy of concealing security incidents. Law enforcement is now investigating whether the power plant endangered people or violated nuclear and environmental regulations.

Credit Suisse believes it is on track to apply for a license for China

Credit Suisse is on track to approve the launch of its China-based bank. “There has been some news that we are deferring the LIB license application, which is not true. We are on the right track in this regard, ”said CEO Thomas Gottstein. Earlier, Bloomberg, citing unnamed sources, announced that the bank postponed the planned launch of its China Bank, which is a sign that the bank will suspend its expansion plans in China

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Contact the author: maerkte.de@dowjones.com

DJG / flf

(END) Dow Jones Newswires

June 09, 2022 12:25 PM ET (4:25 PM GMT)

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