EUROPE MARKETS / stock exchanges remain profitable – Just Eat Takeaway is bullish | News

FRANKFURT (Dow Jones) – European stock markets will hold until noon Wednesday. The DAX rose by 1.5 percent to 12,589 points and the Euro Stoxx 50 by 1.6 percent to 3,413 points. Supporting sentiment is the recent decline in oil and other commodity prices, including food. The reason for this is the increasing risk of recession, which at the same time puts pressure on inflation expectations. This takes the pressure off central banks to overpay when interest rates rise, in line with the industry.

The end of the strike by workers in the gas and oil sector in Norway is clearly positive

The end of the strike by gas and oil workers in Norway was positively received. This worsened the already explosive situation with the imminent suspension of Russian gas supplies. The decisive factor now will be whether the gas will return via the pipeline after the upcoming 10-day regular Nord Stream 1 maintenance. Annual maintenance will begin on July 11. The price of Dutch TTF gas has fallen by around 3%.

Meanwhile, the euro continued to weaken in the foreign exchange market and is now falling below $ 1.02. It fell to its lowest level in almost 20 years on Tuesday due to fears of a recession in the market. US indices of purchasing managers will be released in the afternoon, and the minutes of the last evening US Federal Reserve meeting.

Looking at individual sectors, retail equities (+ 3.0%) and material stocks (+ 3.1%) rebounded from yesterday’s sell-offs. Interest rate sensitive equities rose by 2.6 percent.

Just Eat Takeaway increased by 18.5 percent. Dealers refer to a partnership with Amazon. “It supports the mood,” said one market participant. Grubhub’s food delivery service will be part of Amazon’s Prime US package. The online seller agreement with the parent company Grubhub Just Eat Takeaway, which also includes Lieferando, also includes the option of a small participation in Grubhub. Amazon has the option of owning 2 percent of Grubhub, and may increase that share to 15 percent depending on performance.

Speculations about the state’s growth in Uniper are mounting

Meanwhile, Uniper lost 2.2 percent. There is speculation in the market that the state could smuggle between EUR 3 billion and EUR 5 billion into Uniper through a capital increase. According to Handelsblatt, how state aid is specifically designed also depends on the extent to which retailers such as Uniper can pass on higher gas purchase prices to consumers without considering existing supply contracts. Fortum, Uniper’s parent company, fell 1.9 percent.

===

Stock index last + / -% absolute + / -% YTD

Euro Stoxx 50 3 413.43 + 1.6% 53.60 -20.6%

Stoxx 50 3 447.13 + 1.7% 57.44 -9.7%

DAX 12 589.13 + 1.5% 187.93 -20.8%

MDAX 25,020.03 + 1.6% 385.03 -28.8%

TecDAX 2,904.24 + 2.0% 56.59 -25.9%

SDAX 11 800.89 + 1.9% 223.89 -28.1%

FTSE 7 148.96 + 1.8% 123.49 -4.9%

CAC 5 889.21 + 1.6% 94.25 -17.7%

Fixed Income Market Latest Absolute +/- YTD

10-year return from Germany 1.17 -0.01 +1.35

10-year US yield 2.82 +0.01 +1.31

FOREX last +/-% Wed 8:01 Tue 17:01% YTD

EUR / USD 1.0198 -0.6% 1.0251 1.0240 -10.3%

EUR / JPY 138.07 -1.0% 138.56 139.32 + 5.5%

EUR / CHF 0.9906 -0.4% 0.9922 0.9937 -4.5%

EUR / GBP 0.8555 -0.4% 0.8594 0.8595 + 1.8%

USD / JPY 135.39 -0.3% 135.21 135.97 + 17.6%

GBP / USD 1.1923 -0.3% 1.1931 1.1913 -11.9%

USD / CNH (offshore) 6.7113 -0.0% 6.7134 6.7231 + 5.6%

Bitcoin

BTC / USD 20 100.26 -1.1% 20 007.00 19 421.00 -56.5%

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

WTI / Nymex 100.06 99.50 + 0.6% 0.56 + 38.6%

Brent / ICE 103.75 102.77 + 1.0% 0.98 + 38.5%

GAS VT close +/- EUR

Dutch TTF 160.74 163.64 -2.6% -4.34 + 37.9%

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

Gold (spot) 1,762.04 1,764.87 -0.2% -2.83 -3.7%

Silver (Spot) 19.25 19.22 + 0.1% +0.03 -17.4%

Platinum (Spot) 862.69 868.85 -0.7% -6.16 -11.1%

The future of copper 3.40 3.43 -0.6% -0.02 -23.4%

YTD at the end of the day

===

Contact to the author: manuel.priego-thimmel@wsj.com

DJG / mpt / ros

(END) Dow Jones Newswires

July 6, 2022 07:10 ET (11:10 GMT)

Selected products leveraged on Fortum OyjThrough knockouts, speculative investors can disproportionately participate in price movements. Just select the leverage you want and we’ll show you the right open-end products at Fortum Oyj

The leverage must be between 2 and 20

No data

Leave a Comment