The evening market overview compiled by Dow Jones Newswires:
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+++++ HOLIDAY NOTICE +++++
WEDNESDAY: Stock exchanges in Japan remain closed for Thanksgiving Day.
+++++ STOCK MARKETS (18:15) +++++
INDEX reading +-% +-% YTD*
EuroStoxx50 3,929.90 +0.53% -8.57%
Stoxx50 3,742.93 +0.88% -1.98%
DAX 14,422.35 +0.30% -9.21%
FTSE 7,452.84 +1.03% -0.10%
CAC 6,657.53 +0.35% -6.93%
DJIA 33,983.27 +0.84% -6.48%
S&P 500 3,983.02 +0.84% -16.43%
Nasdaq Comp. 11,093.18 +0.62% -29.09%
Nasdaq-100 11,637.97 +0.73% -28.69%
Nikkei-225 28,115.74 +0.61% -2.35%
EUREX Stand + ticks
Bund future 140.49 +45
*on the previous day
+++++ COMMODITY MARKETS +++++
ROHOEL last VT-Settlem. +/- % +/- USD % YTD
WTI/Nymex 82.28 80.04 +2.8% +2.24 +18.8%
Brent/ICE 89.60 87.45 +2.5% +2.15 +22.1%
GAS VT Settlem. +/- EUR
Dutch TTF 124.50 116.13 +7.2% +8.37 +73.8%
METALS last day before +/- % +/- USD % YTD
Gold (Spot) 1,740.63 1,737.63 +0.2% +3.01 -4.9%
Silver (Spot) 20.96 20.83 +0.6% +0.13 -10.1%
Platinum (Spot) 991.55 983.85 +0.8% +7.70 +2.2%
Copper Future 3.62 3.57 +1.4% +0.05 -17.8%
YTD relative to previous day’s close
On the oil market, prices can stabilize after the recent downward trend for days and the very volatile start to the week with WTI daily lows around 75 dollars, they increase by up to 2.5 percent, WTI oil rises to almost 82 dollars. Some support is also provided by the fact that Saudi Arabia has denied an alleged increase in Opec+ production. The topic should not be off the table, according to the trade.
+++++ FINANCIAL MARKET USA +++++
Friendly – Market participants are pointing to cautious sentiment from many players amid ongoing concerns about Covid-19 restrictions in China and the ongoing cycle of interest rate hikes. You’re stuck in a kind of dilemma, says market expert Jim Reid from Deutsche Bank. Various Covid 19 scenarios are conceivable in China, with many more restrictions in the near future, but also stronger and more permanent reopenings by spring. A record increase in new infections has just been reported from China. However, the upcoming Thanksgiving festival and the so-called Black Friday that follows, as the first major shopping day with a view to Christmas, provide some optimism. Shares in video conferencing provider Zoom fell 6.5 percent. The company has issued a weak guidance for the fourth quarter. Dell Technologies increase by 4.1 percent. The computer manufacturer expects sales to decline in 2022. However, the quarterly results beat Wall Street estimates. Urban Outfitters gain 3.1 percent. The clothing chain has presented good quarterly figures and is also confident about the Christmas quarter. Medtronic shed 6 percent after the medical device maker reported lower-than-expected quarterly sales. Abercrombie & Fitch jumped 16 percent after the clothing retailer surprisingly posted third-quarter earnings.
+++++ OUTLOOK COMPANY +++++
22:15 US/HP Inc, 4Q result
+++++ ECONOMIC OUTLOOK ++++++
– U.S
22:30 crude oil inventory data (week) of the private
American Petroleum Institute (API)
+++++ FINANCIAL MARKETS EUROPE +++++
Friendly – “The funds are still sitting on too high cash quotas and are just waiting for buying opportunities,” said one participant. Because the scenario of only a shallow recession is becoming more and more the consensus, the fear of a deep recession is dissipating. On the one hand, private consumption remains at a relatively high level – despite inflation, because consumers went to their savings reserves. On the other hand, the Ukraine war is leading to a demographic boom. In addition, the stock exchanges live on the hope of an easing on the inflation front – and thus the hope of slower rate hikes. Commodity and oil stocks as well as bank stocks were able to recover significantly after the recent bouts of weakness. Enel gained 0.5 percent. The Italian utility’s new strategic outlook was well received, with particularly positive comments on plans to reduce debt. Vallourec rebounded nearly 10 percent after falling over 13 percent after weak numbers on Monday. Vodafone fell 3.2 percent with a downgrade from Credit Suisse. In the MDAX, TAG Immobilien lost almost 12 percent to EUR 5.91. The real estate company cancels the dividend. For Thyssenkrupp it went down 4.3 percent to 5.17 euros. The investor Cevian has sold its stake in the group to less than 1 percent. The pieces are said to have been placed at 5.15 euros. Bet-at-home was up 35 percent, backed by a positive study by Hauck & Aufhäuser (HAIB). In addition, the soccer World Cup draws attention to the share.
+++++ CURRENCIES +++++
last +/- % Tue, 8:05 Mon, 17:30 % YTD
EUR/USD 1.0272 +0.3% 1.0249 1.0242 -9.7%
EUR/JPY 145.26 -0.2% 145.52 145.38 +11.0%
EUR/CHF 0.9796 -0.2% 0.9813 0.9815 -5.6%
EUR/GBP 0.8659 -0.1% 0.8661 0.8685 +3.1%
USD/JPY 141.41 -0.5% 141.96 141.95 +22.9%
GBP/USD 1.1861 +0.3% 1.1837 1.1792 -12.3%
USD/CNH (Offshore) 7.1500 -0.4% 7.1676 7.1817 +12.5%
Bitcoin
BTC/USD 16,135.72 +2.6% 15,716.71 15,978.45 -65.1%
YTD relative to previous day’s close
Little is happening with the dollar, it is falling slightly in parallel with the somewhat falling market interest rates, but is generally supported by the intact process of interest rate hikes in the USA.
+++++ EAST ASIA FINANCIAL MARKETS +++++
Inconsistent – The focus was on the corona development in China after Beijing closed parks and museums while corona mass tests were carried out again in other cities. This is dwindling recent hopes of easing measures soon, it said. Real estate developers and construction stocks were popular in China after top Beijing officials reiterated support for the struggling sector. In Tokyo, Shionogi gained 2.8 percent after reports confirming the potential effectiveness of the company’s Covid-19 drug. In Seoul, Meritz Financial shot up the daily limit of 30 percent. The company wants to integrate its insurance and securities subsidiaries. In Sydney, Bluescope Steel rose 4.8 percent after the company spoke of improved short-term earnings prospects for its US operations.
+++++ COMPANY REPORTS SINCE 1.30 PM +++++
GERMAN RAIL
expands its inspection of concrete sleepers after suspicion of a manufacturer error has been confirmed. After the train accident in the Bavarian town of Burgrain near Garmisch-Partenkirchen at the beginning of June, experts from the state railway company checked around 200,000 concrete sleepers of a certain type and manufacturer nationwide. Around 130,000 concrete sleepers from other manufacturers are now to be checked.
CORESTATE
supports the restructuring proposal of important creditors and thereby gives itself a breathing space. The main reason for supporting the proposal is to ensure the company’s continued existence.
MEDIOS
is strengthened by an acquisition in Baden-Württemberg and a cooperation agreement with pharmacies for special medicines.
APPLE/ALPHABET
The British competition and market regulator CMA has launched an investigation into cloud gaming and mobile browsers. A market study had shown that the two US companies with their duopoly exert a dominant influence on operating systems, app stores and web browsers on mobile devices.
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DJG/gos
(END) Dow Jones Newswires
November 22, 2022 12:25 PM ET (17:25 GMT)