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Evening Market Review, Compiled by Dow Jones Newswires:

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

FRIDAY: Hong Kong exchanges remained closed due to the establishment day of the Hong Kong SAR. In the US, bond trading is only shortened to 8pm.

MONDAY: US stock markets remain closed on Independence Day.

+++++ SHARE MARKETS (18:36) +++++

INDEX reading + -% + -% YTD *

EuroStoxx50 3 448.31 -0.19% -19.78%

Stoxx50 3,441.26 -0.25% -9.88%

DAX 12 813.03 + 0.23% -19.34%

FTSE 7 156.32 -0.18% -2.92%

CAC 5931.06 + 0.14% -17.08%

DJIA 30 714.10 -0.20% -15.48%

S&P 500 3 778.83 -0.17% -20.72%

Nasdaq Comp. 10,995.11 -0.30% -29.72%

Nasdaq-100 11 449.93 -0.47% -29.84%

Nikkei-225 25 935.62 -1.73% -9.92%

EUREX stand + ticks

The future of the Bund 150.57 +181

* on the previous day

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

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

WTI / Nymex 108.75 105.76 + 2.8% 2.99 + 50.7%

Brent / ICE 111.61 109.03 + 2.4% 2.58 + 49.0%

GAS VT close +/- EUR

Dutch TTF 147.50 145.37 + 2.1% 2.99 + 46.9%

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

Gold (spot) 1,803.25 1,807.32 -0.2% -4.07 -1.4%

Silver (Spot) 19.80 20.27 -2.3% -0.47 -15.1%

Platinum (Spot) 881.33 897.13 -1.8% -15.80 -9.2%

The future of copper 3.62 3.71 -2.7% -0.10 -18.6%

YTD at the end of the day

Oil prices are rising after the recent levies. This is as much as 2.8 percent. After the last two weeks of declines, it may be a plus again. However, there are growing concerns that a central bank tightening of monetary policy and rising inflation will weigh on global growth, pushing the United States and other major economies into recession, which will reduce oil demand.

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

Wall Street looks a bit lighter on Friday afternoon (US EST) and is doing bravely. They say position adjustments can be made ahead of the extended weekend. US exchanges are also burdened with mediocre data and the disappointing outlook for the semiconductor company Micron Technology. Investors remain focused on the persistently high inflation that has forced central banks to end the easy money policy years and raise interest rates rapidly. This shift in position fueled fears of a slowdown in growth that could lead to a recession. Meanwhile, the current data show no signs of recession, but a slowing growth. On a standalone basis, Micron Technology’s shares fell 5.6%. While the semiconductor manufacturer saw strong sales and earnings growth in the third quarter, the outlook for the current quarter is disappointing. General Motors shares are stagnating – despite the warning of second-quarter earnings. Traders explain the relative strength of the stock with confirmed full-year forecasts. Buckle shares of the Kohl department store operator down 21% According to CNBC, the acquisition talks by the franchise group have ended.

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

There are no valid release dates.

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

Disagreeing – However, trading did not pay much attention to the stabilization approach. “Worries about the recession are controlling the market,” said one market participant. The price pressure in Europe, which increased more than expected again in June, had no negative impact. The reason may be that the rising risk of recession suggests that central banks may soon be forced to adopt a more moderate monetary policy stance. In the Stoxx sector indices, the tech sector was a red beacon with a downside of 2.0 percent. This was mainly due to very weak semiconductor stock prices after Micron Technology in the US spoke of weakening demand in its outlook. Infineon and ASML lost even 5.4 percent, and STMicro 3.0 percent. On the other hand, the media gained more. In trade, the Reuters report was cited as a justification. Accordingly, the increased gas prices could be spread evenly among all consumers in the new procedure through the fee. According to a document available to Reuters, the relevant bill provides for the possibility of imposing a fee on all customers. Eon gained 2.4%, RWE 5.2% and Uniper 10.3%. After strong results for the third quarter, Sodexo grew by 4.1 percent. The write-off of EUR 2.8 billion per subsidiary Siemens Energy (+ 1.7%) was assessed by Siemens relatively calmly (-1.1%). Initially, he said, it was a purely accounting matter that did not affect liquidity.

+++++ CURRENCIES +++++

FOREX last +/-% Fri 8:34 Thu 17:31% YTD

EUR / USD 1.0406 -0.7% 1.0452 1.0463 -8.5%

EUR / JPY 140.79 -1.0% 141.09 142.20 + 7.6%

EUR / CHF 1.0017 + 0.1% 0.9993 0.9989 -3.5%

EUR / GBP 0.8634 + 0.3% 0.8621 0.8609 + 2.8%

USD / JPY 135.29 -0.3% 134.96 135.88 + 17.5%

GBP / USD 1.2052 -1.1% 1.2128 1.2156 -10.9%

USD / CNH (offshore) 6.7017 + 0.1% 6.7163 6.6996 + 5.5%

Bitcoin

BTC / USD 19 366.07 + 3.1% 19 387.29 19 167.22 -58.1%

YTD at the end of the day

The euro remains weaker against the dollar but shows little response to inflation from the side Eurozone. In June, inflationary pressure increased more than expected and core inflation slightly decreased. Already on the eve of the data, ING analysts stated that the data is unlikely to affect the euro, as market expectations for a tightening of the policy by the European Central Bank already seemed very strong. In contrast, the currency pair is likely to be driven primarily by global risk sentiment and dollar dynamics at this time. The dollar index rose by 0.6 percent – it is sought as a supposed safe haven in the face of bleak economic prospects. Meanwhile, a strong dollar weighs on the price of gold.

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

The East Asian and Australian stock markets recorded losses on Friday. Apart from negative forecasts from the US, the mood was weakened by disappointing economic data from the region. The economic report of the Japanese central bank “Tankan” revealed that sentiment in the domestic industry had unexpectedly worsened significantly. The reasons for this are the pandemic-related plant closures in Shanghai, China and the resulting supply bottlenecks. In Tokyo, shares in the energy sector and car makers were sold. Much weaker export growth in June worried investors in Seoul. South Korea is currently facing its first trade deficit since 2008 in 2022. In China, on the other hand, the easing of the krona has had a positive impact. Purchasing managers’ Caixin index rebounded to 51.7 in June from 48.1 in May. In this way, it underlines the positive development that the official indicator of purchasing managers already showed on Thursday. At minus 0.3 percent, the Shanghai Composite Index outperformed other equity markets in the region.

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

TWS / NIELSENIQ

Two market research firms GfK from Nuremberg and NielsenIQ from Chicago, USA, want to merge. The companies announced on Friday that the result will be a “leading provider of commercial and consumer data” with a global reach. They want to “leverage the latest cloud technologies” to gather their complementary data and analysis – customers have been given an “even more comprehensive overview of consumer spending throughout the entire purchasing process.”

BY AIRBUS

has received orders for a total of 292 A320 family aircraft in China. In addition to China Southern’s previously announced 96 aircraft order, orders are coming from Air China, China Eastern and Shenzhen Airlines, the European aircraft manufacturer said. This shows the dynamics of the recovery and good prospects for the Chinese aviation market.

LUFTHANSA

Due to the current chaos in air traffic, the supervisory board of Deutsche Lufthansa has scheduled a meeting, according to a press release. The supervisor will address the plight of Europe’s largest aviation group next Wednesday at the urging of the Verdi service union, Handelsblatt reports, citing the corporate community. According to the information, the topics of the meeting are the tense operational situation, but also the economic consequences.

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July 01 2022 12:39 ET (4:39 PM GMT)

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