Morning FuW report of June 27, 2022 | finance and economy



In Asia, equity markets started the week positive, thanks to the US winds where markets were strong on Friday.

FROM Nike 225 has an increase of 1.5%, hang a dream in Hong Kong by 3.1%. FROM Shanghai composite gains 0.44%. FROM Kospi advances 2.14%.

this future Western indices are in a sideways trend, showing only marginal moves after the weekend’s gain. S&P 500 contracts rose 0.2% to 3,927.

Price of the troy ounce gold has so far hardly reacted to reports over the weekend that the G7 countries want to halt new imports of Russian gold.

United States

US markets closed tight on Friday. The hope was that the US Federal Reserve would be able to keep interest rate hikes at a slower pace than previously thought. It was a response to the approaching recession and falling inflation expectations. However, many market participants assume that price increases are just a short-term move and see a longer downward trend.

FROM Dow Jones Industrial It gained 2.7% to 31,501 on Friday, a two-week high. During the week there was even an increase of over 5%. FROM S&P 500 gained 3.1% to 3,912, and Nasdaq 100 increased by 3.5% to 12,106.

The technology stocks were in high demand, and the winners at the Dow Jones were the securities of the software group Sales force (+ 7.4%). Without any special news, they made up for significant losses from the previous week.

Documents from American banks were also searched for. They took advantage of the positive results of the Fed’s bank stress test. Morgan Stanley (+ 5.2%), Goldman Sachs (+ 5.8%) i Wells Fargo (+ 7.5%) increased.

logistician FedEx (+ 7.1%) improved moods with an optimistic outlook. Despite supply chain problems and higher costs, the last quarter saw higher sales and operating profit, slightly below expectations.

Actions Boeing increased by 5.6%. In the tourism sector, service providers such as Airbnb considerably in value and titles from cruise lines such as Royal Caribbean (RCL 40.33 -3.42%) sold. Airline securities also gained. The hopes of lower taxes on crude oil helped.

News Pre-Exchange Switzerland

Titlis Railways: The operator of the Titlis-Bahnen mountain railway (TIBN 45.60 + 0.88%) recorded a profit of CHF 1.1 million with operating income of CHF 28.5 million in the first half of the financial year (end April). In the same period last year, there was a loss of CHF 7.3 million. Despite the downturn in the crown pandemic, more than a quarter of gastronomy sales are still missing. However, the company expects further normalization in the summer. He also expects important Chinese visitors to return in the summer of 2023. (Read more here.)

Achiko: Achiko medical technology company (ACHIE 0.0424 -27.89%) he must raise capital to survive. It intends to present relevant proposals to shareholders at the general meeting in July. It has negative assets of $ 4.6 million. According to the auditors, it cannot continue its operations without shareholders’ consent to corporate actions and appropriate support from creditors and owners. He had to postpone the 2021 conclusion now published several times. (Read more here.)

DKSH: DKSH sales specialist (DKSH 78.95 + 0.19%) takes over the Swiss pharmaceutical distributor Refarmed Group. The company, with CHF 60 million sales and “healthy profitability”, is set to strengthen its Performance Materials division. (Read more here.)

Epic Suisse: Epic Suisse real estate agency (EPIC 64.45 -0.65%), which was listed on SIX last month, is launching more shares. Banks participating in the IPO made use of almost half of the additional allocation option. Epic has now raised a total of CHF 192 million through an IPO.

Novartis: Swiss pharmaceutical company Novartis (NOVN 82.04 + 1.79%) has received extended EU approval for Cosentyx for the treatment of childhood arthritis. The effectiveness of Kesimpta in multiple sclerosis is also confirmed by other data.

Basilica: Basilea biotechnology company (BSLN 37.90 + 0.93%) expects to be “sustainable profitable” by 2023. Until then, your focus should be solely on developing anti-inflammatory drugs. From next year, no material expenses will be incurred in connection with oncology.

Classifier: Clariant, a specialist chemical company (CLN 17.88 + 0.90%) wants to focus on additional acquisitions, CEO Conrad Keijzer said in an interview with Finanz und Wirtschaft. This allows you to strengthen your portfolio in a targeted manner. On the other hand, a big acquisition is not very realistic.

Credit Suisse: Credit Suisse’s main bank (CSGN 5.74 + 0.35%) was able to come to terms with a debtor with failed funds in the supply chain. The US Bluestone miner will start making regular payments to the bank starting this month.

Investment: Investis real estate agency (IRISHMAN 99.40 + 0.40%) buys Home Service from Zurich. The latter provides services in the field of home maintenance, technical service and garden care. Investis intends to use this to expand the service sector.

Prospects – the most important macro indicators of the week

in European Union The three-day specialist conference of the European Central Bank kicks off Monday in Sintra, Portugal. News about interest rate hikes and measures against yield fragmentation in the euro zone should dominate the news inflow. The German consumer climate of GfK and the confidence of French consumers will be released on Tuesday. The EU’s economic confidence is expected to arrive on Wednesday. June’s inflation indicators will also be released from Wednesday. Spain and Germany will start, followed by France on Thursday and Italy and the euro area on Friday. On Friday, the June Purchasing Managers’ Index PMI for the euro zone industry will also be published.

The PMI is also released on the same day for Switzerland released. The day before, it was the turn of the second important leading indicator: the Kofa economic barometer, calculated by the ETH economic research center. The consensus forecasts a slight weakening in June to 96 (100 = long term mean).

In Great Britain On Thursday, we will find out how definitively gross domestic product was in the first quarter. Manufacturing PMI will be released on Friday. The speech of the head of the British central bank Andrew Bailey on Wednesday in Sintra will also be interesting.

Sweden The central bank will decide on Thursday whether, in line with market expectations, it will raise the main interest rate by half a percentage point to 0.75%.

in United States The agenda for this week will be many macro indicators: industrial orders on Monday, Case-Shiller house price index on Tuesday and consumer confidence (Conference Board). The third projection of gross domestic product for Q1 will be presented on Wednesday, before two high-profile indicators with the initial unemployment figures appear on Thursday and the ISM index for the manufacturing sector on Friday.

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