indexes in this article
Evening Market Review, Compiled by Dow Jones Newswires:
+++++ SHARE MARKETS (18:15) +++++
INDEX reading + -% + -% YTD
EuroStoxx50 3 549.29 + 0.29% -17.43%
Stoxx50 3 505.42 + 0.20% -8.20%
DAX 13,231.82 + 0.35% -16.70%
FTSE 7 328.21 + 0.96% -1.71%
CAC 6086.02 + 0.64% -14.92%
DJIA 31 224.91 -0.68% -14.07%
S&P 500 3,853.71 -1.19% -19.14%
Nasdaq Comp. 11,288.03 -2.05% -27.85%
Nasdaq-100 11 749.00 -2.16% -28.01%
Nikkei-225 27 049.47 + 0.66% -6.05%
EUREX stand + ticks
The future of the Bund 145.33-107
+++++ GOODS MARKETS +++++
ROHOEL the last VT-Settl. +/-% +/- USD% YTD
WTI / Nymex 110.86 109.57 + 1.2% 1.29 + 53.6%
Brent / ICE 117.16 115.09 + 1.8% 2.07 + 55.3%
GAS VT close +/- EUR
Dutch TTF 129.42 129.69 -0.0% -0.04 + 52.0%
METALS last day before +/-% +/- USD% YTD
Gold (spot) 1,820.84 1,822.60 -0.1% -1.76 -0.5%
Silver (Spot) 20.91 21.17 -1.2% -0.26 -10.3%
Platinum (Spot) 914.85 911.55 + 0.4% +3.30 -5.7%
The future of copper 3.77 3.76 + 0.1% +0.01 -15.2%
Oil prices rise for the third consecutive trading day. A looseness in China is fueling speculation about increased demand for commodities, the sources say. In addition, the G7 is still considering how to reduce Russian oil and gas production. WTI prices fell last Thursday to their lowest level in seven weeks amid fears of a recession that could weaken demand. However, the demand situation has since improved as air traffic in the United States has picked up and gasoline demand is expected to increase in the run-up to the July 4 weekend, the agency said.
+++++ US FINANCIAL MARKET +++++
Easier – Wall Street declined Tuesday afternoon (local time) after the initial strong gains. Apart from the current concerns about interest rates, the sentiment is also influenced by weak data on US consumer confidence. Nike exceeded expectations in the fourth fiscal quarter, despite falling sales and profits. The price continues to drop 5.7%. Retail has addressed increased stocks and supply chain bottlenecks. On the other hand, we are looking for shares in American banks. Goldman Sachs, Wells Fargo and Morgan Stanley increased 0.3-1.7%. After the institutes pass the US Federal Reserve’s annual stress test, dividends will be increased. Spirit Airlines shares rose 1.4 percent. JetBlue Airways (+ 0.3%) increased its offer for the airline.
+++++ FINANCIAL MARKETS EUROPE +++++
A little stronger, according to dealers, the mood was fostered by the relaxation of China’s rules on the crown: the government now wants to quarantine travelers for only ten days instead of three weeks. Hopes for China fueled speculation about a greater demand for raw materials. Thus, the oil and gas stock index was clearly at the top of the European Stoxx indices with a plus of 2 percent. The Commodity Primary Resource Index increased by 1.2%. Among them were suppliers and insurers with a plus of about 1.5 percent. In DAX, MTU increased by 3.5 percent, Porsche by 2.7 percent, and Conti and Munich Re by 2.5 percent. Zalando, on the other hand, fell 1.9 percent. Adidas and Puma lost up to 2.2 percent. Competitor Nike released quarterly data at the end of Monday, which was characterized by increased inventories and supply chain bottlenecks. Siemens closed unchanged after the acquisition of Brightly Software in the US for almost $ 1.6 billion. Philips replaced 1.8% lighter. The dealer saw no relief in the interim report on the group’s problematic fans. In Stockholm, SAS grew by almost 6%. The shares of the diseased Scandinavian airline benefited from the news that the Norwegian government essentially agreed to waive the repayment of the aid in exchange for shares in the company. In Milan, Saipem recovered almost 70 percent. The group has received new orders or renewals from Central Asia for a total of $ 1.25 billion.
+++++ CURRENCIES +++++
FOREX last +/-% Tue 8:18 Mon, 18:40% YTD
EUR / USD 1.0532 -0.5% 1.0580 1.0597 -7.4%
EUR / JPY 143.44 + 0.0% 143.37 143.40 + 9.6%
EUR / CHF 1.0074 -0.5% 1.0114 1.0126 -2.9%
EUR / GBP 0.8631 + 0.0% 0.8623 0.8626 + 2.7%
USD / JPY 136.22 + 0.6% 135.52 135.32 + 18.3%
GBP / USD 1.2202 -0.5% 1.2271 1.2284 -9.8%
USD / CNH (offshore) 6.7085 + 0.3% 6.6859 6.6895 + 5.6%
BTC / USD 20 605.08 -0.9% 20 820.08 20 746.62 -55.4%
The dollar is recovering significantly from the recent fees, the dollar index rose by 0.5%. On the other hand, the euro fell below the USD 1.06 level. Commerzbank analyst You-Na Park-Heger said the euro will find it difficult to gain further, given concerns that the global economy may weaken. In addition, there is still the risk of an energy crisis.
+++++ EAST ASIA FINANCIAL MARKETS +++++
Mostly harder – The previous day’s surcharges were used in some places to take profit. In contrast, the Chinese stock markets turned out to be positive. Because the People’s Republic of Poland shortens the quarantine period for arriving guests and loosens the coronation measures even further. Traders spoke of an impasse as positive economic data fueled inflation and central bank countermeasures, increasing the risk of a recession. The several-day increase in oil prices was also considered a negative factor. In Tokyo, the Nikkei 225 hit 0.7 percent, backed by auto and energy stocks. After the initial losses, the Chinese stock markets recovered as the quarantine period shrank. The car titles that performed well the day before made a profit initially, then the titles continued to build on the previous day’s gains. In Seoul (+ 0.8%), rising prices were supported in the automotive, energy and biotechnology sectors.
+++++ COMPANY REPORTS FROM 13.30 +++++
Siemens and VW invest $ 450 million in Electrify America
Siemens and Volkswagen participate in the US Electrify America fast charging network. As announced by the DAX companies, they are investing a total of $ 450 million. Electrify America LLC is valued at $ 2.45 billion. The investment also secures Siemens a seat on the Electrify America board of directors.
K + S gains access to potassium sulphate from Scandinavia
The K + S company has signed a letter of intent with the Swedish company Cinis Fertilizer on cooperation in the production of a synthetic specialty fertilizer of potassium sulphate (SOP). K + S intends to take over the supply of all potassium chloride (MOP) requirements for Cinis Fertilizer. In return, K + S was able to purchase up to 600,000 tonnes of potassium sulfate from Cinis each year.
Verbio is increasing its EBITDA forecast for the financial year 2021/22
Bioenergy producer Verbio is confident in the 2021/22 financial year. Based on the history of operations to date and the current level of sales and raw material prices, the Management Board expects to achieve an EBITDA of approximately EUR 500 million in the financial year by the end of June. Net financial assets should amount to EUR 300 million. Recently, the company assumed EBITDA of EUR 430 million and net financial assets of EUR 220 million at the end of the financial year 2021/2022.
Norway helps SAS convert debt into equity
SAS AB receives support from the Norwegian government for its restructuring plan. The government said it could agree to a debt-to-SAS swap under certain conditions. If the move were to occur, it would mean that the Norwegian state would regain ownership of the Scandinavian airlines four years after leaving the company.
Walgreens can’t sell shoes and No7 Beauty
The American drugstore chain Walgreens Boots Alliance sticks to its brands Boots and No7 Beauty. As the group announced, it will keep business areas after the lack of suitable offers. Boots, the largest drugstore chain in the UK, was reportedly earning over $ 7 billion for Walgreens, according to various reports.
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(END) Dow Jones Newswires
June 28, 2022 12:18 PM ET (4:18 PM GMT)