LATE CHECK-IN – companies and markets | News

Evening Market Review, Compiled by Dow Jones Newswires:

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

MONDAY: In Australia, stock exchanges were closed for the Queen’s birthday (regional banking holiday).

+++++ SHARE MARKETS (18:25) +++++

INDEX reading + -% + -% YTD

EuroStoxx50 3 502.50 -2.69% -18.52%

Stoxx50 3,442.31 -1.95% -9.85%

DAX 13 427.03 -2.43% -15.47%

FTSE 7 205.81 -1.53% -0.91%

CAC 6,022.32 -2.67% -15.81%

DJIA 30 788.90 -1.92% -15.27%

S&P 500 3 793.31 -2.76% -20.41%

Nasdaq Comp. 10,936.75 -3.56% -30.09%

Nasdaq-100 11 436.41 -3.35% -29.92%

Nikkei-225 26 987.44 -3.01% -6.27%

EUREX stand + ticks

The future of the Bund 145.2 -170

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

ROHOEL the last VT-Settl. +/-% +/- USD% YTD

WTI / Nymex 121.34 120.67 + 0.6% 0.67 + 66.7%

Brent / ICE 122.60 122.01 + 0.5% 0.59 + 62.5%

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

Gold (spot) 1,832.75 1,871.40 -2.1% -38.66 + 0.2%

Silver (Spot) 21.32 21.89 -2.6% -0.57 -8.5%

Platinum (Spot) 942.75 977.07 -3.5% -34.32 -2.9%

The future of copper 4.23 4.29 -1.6% -0.07 -4.9%

Oil prices are weighed down by speculation about falling demand in the face of the looming recession, but also by renewed lockdowns in China. In addition, a stronger dollar makes the commodity more expensive for buyers outside the dollar area. In addition, there is speculation that US President Joe Biden might insist in Saudi Arabia that the Opec oil cartel promote more and thus lower prices.

In addition to the stronger dollar, higher bond rates weigh on the price of gold. They reduce the attractiveness of an interest-free precious metal. In addition, there are reports on the market of huge discoveries of gold in Uganda.

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

Very weak – Friday’s inflation shock persists on Monday on Wall Street. Stronger than expected increases in consumer prices dispelled hopes that inflation might have peaked. At the same time, they fuel fears that the US Federal Reserve may further tighten the reins of monetary policy to fight inflation. Shares of the Coinbase cryptocurrency trading platform fell 11 percent amid a cryptocurrency sale. Tesla’s stock cannot escape negative sentiment and is down 4.9 percent. In Friday’s after hours trading, the titles benefited from the details of the upcoming split of shares, where one share is set to become three. Investors are also skeptical about the medium-term goals of the New York Times (-10.3%), which, among others, wants to increase the subscriber base to 15 million by the end of 2027. Going slightly better than the market, Choice Hotels International (-1.1%) after the company announced it would buy the Radisson Hotel Group Americas for $ 675 million. Revlon fell a further 44.4 percent after stocks fell 53 percent on Friday. According to industry information, the reason is the Wall Street Journal (WSJ) report, according to which the cosmetics manufacturer wants to apply for Chapter 11 of creditor protection.

Bond market yields are rising sharply again. The yield gap between the two- and ten-year stocks has narrowed significantly. There is a threat of an inverted yield curve, which is seen as a recession harbinger, as noted by market participants.

+++++ COMPANY OUTLOOK +++++

22:05 US / Oracle Corp, 4Q results

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

Very weak – “Interest rates and inflation remain two gods in the markets,” said Thomas Altmann of QC Partners asset manager. First, rising interest rates have a direct impact on corporate profits. On the other hand, bonds would become an increasing competitor to equities. All major Stoxx sector indices closed at a discount. The travel and leisure stock index plunged 5.3 percent, followed by tech and automotive stock indices losing to 4.5 percent. Fears of a central bank-driven recession drove share prices down 3.4%. In DAX, Delivery Hero collapsed by 12.5 percent, Hellofresh by 5.8 percent and Infineon by 6.8 percent. Defying the trend, the Brenntag climbed 3.2 percent after the forecast was raised. Shares of the Vienna International Airport increased by 24.1% to EUR 32.65. Australian fund IFM Global Infrastructure Fund (IFM GIF) has made a mandatory bid of € 33 per share. In Paris, Valneva collapsed by 25.3 percent. He questions his corona vaccination program. Atos was down 11 percent, laden with speculation about spin-off plans for the Tech Foundation business. A study by Goldman Sachs, which first recommends Thales (+ 2.1%) and Rheinmetall (unchanged) as a buy, provided better price development compared to the overall weak market. Thales also received compensation from Australia for a canceled submarine order.

The market was watching the yields of Italian government bonds with concern. At the close of the stock exchange, the 10-year-old was only slightly below 4 percent. at the level of 3.99% At the daily peak, the return was 4.01%. Investors fear increasing fragmentation Eurozone.

+++++ CURRENCIES +++++

FOREX last +/-% Mon 8:16 Fri 17:33% YTD

EUR / USD 1.0449 -0.6% 1.0481 1.0518 -8.1%

EUR / JPY 139.98 -1.0% 141.11 141.12 + 7.0%

EUR / CHF 1.0398 + 0.1% 1.0367 1.0401 + 0.2%

EUR / GBP 0.8571 + 0.4% 0.8549 0.8538 + 2.0%

USD / JPY 133.97 -0.3% 134.66 134.14 + 16.4%

GBP / USD 1.2192 -1.0% 1.2261 1.2319 -9.9%

USD / CNH (offshore) 6.7642 + 0.4% 6.7552 6.7308 + 6.5%

Bitcoin

BTC / USD 23 852.53 -12.8% 25 426.65 29 341.32 -48.4%

Uncertainty prompts investors to further delve into the dollar, which is a popular safe currency in times of crisis – also fueled by rising market interest rates. The dollar index rose by another 0.8 percent. Meanwhile, cryptocurrencies are being sold out heavily. Bitcoin drops 15 percent to below $ 24,000. Celsius Networks crypto lending platform is forced to suspend withdrawals and transfers due to price drop.

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

Very weak – East Asian stocks on Monday followed the sharp losses on Wall Street on Friday. There, fears of stagflation were fueled by stronger-than-expected increases in US consumer prices and the Michigan consumer confidence index, which fell to a record low. In addition, investors’ eyes are already on the US Federal Reserve, which announced its decision on interest rates on Wednesday. Another negative factor was the fact that the coronation measures in Beijing and the commercial metropolis of Shanghai have now been tightened again after the easing of the Covid 19 blockade in China. This is likely to have a negative impact on global supply chains, as is the South Korean truck driver strike. The South Korean car concern Hyundai Motor (-5.2%) must further cut production due to ongoing strikes by truck drivers. According to the company, production on Fliebrands in the southern industrialized city of Ulsan has been partially paralyzed. Prices performed better in mainland China than other malls in the region. This was helped by the fact that inflation in China has been much more moderate and that Beijing is always available with economic support measures.

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

BAVARIA

in the dispute over the glyphosate-based herbicide, Roundup has to await a potentially landmark decision of the US Supreme Court. Contrary to expectations, Washington’s Supreme Court did not announce on Monday whether it is checking the company’s $ 25 million award to retiree Edwin Hardeman for allegedly carcinogenic Roundup. However, a decision on Bayer’s application should be made within the next two weeks.

A BURNING DAY

becomes more confident all year round. Earlier this week, the DAX group raised its operating profit forecast before interest, taxes, depreciation and amortization (EBITDA) for the full year to EUR 1.75-1.85 billion. So far, it has assumed between 1.45 and 1.55 billion euros.

BYOVIA

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June 13, 2022 12:27 PM ET (4:27 PM GMT)

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