2023-10-18 14:06:41
Global markets were mixed on Wednesday morning, the day following a rather positive session in New York. (Photo: The Canadian Press)
MARKET REVIEWS. Markets are trending downward on Wednesday following China announced growth in its economy of only 4.9% for the July-September period, compared to 6.3% in the previous quarter. Oil prices rise as investors worry regarding worsening geopolitical tensions in the Middle East following a strike hits a hospital in Gaza, killing several hundred people
Stock market indices at 8:00 a.m.
The DAX German and the CAC 40 French were stable at the start of the session in Europe. THE FTSE 100 British lost 0.2%.
In New York, before the markets opened, the average Dow Jones industrial values slipped 0.1% and the broader index S&P 500 of 0.2%.
In Asia, the Nikkei 225 ended the day unchanged. The scholarship of Shanghai fell by 0.8% and the Hang Seng by 0.1% to Hong Kong. Sydney added 0.3% and Seoul 0,1%.
On the New York Commodity Exchange, the price of oil took US$1.66 to US$88.32 per barrel.
The context
“Oil prices rose more than 3%, while stocks fell as Iran toughened its stance on Israel following an explosion at a Gaza hospital,” notes SPI’s Stephen Innes AM.
The explosion caused the death of several hundred people. The Islamist movement Hamas, in power in Gaza, accused Israel of being at the origin of this strike, but the Israeli army blamed it on Islamic Jihad, another Palestinian armed group, eleven days following the start. of the war sparked by Hamas’ unprecedented attack on Israel. Islamic Jihad has also denied and blamed Israel.
In response, Iranian President Ebrahim Raïssi declared a day of national mourning and predicted that the strike on the hospital would backfire once morest Israel and its American ally.
“It is certain that an intensification of the conflict is likely to pose risks to global oil supplies, the region being a major production area,” continues Stephen Innes.
The price of a barrel of Brent from the North Sea, for delivery in December, took 2.12% to 91.81 US dollars ($US). The barrel of West Texas Intermediate (WTI) American, expiring in November, advanced 2.27% to US$88.63.
This event “highlights a much greater probability than previously estimated of a possible spread of the conflict”, thus, “short-term caution should largely dominate” the markets, comments Sebastian Paris Horvitz, director of research from LBP AM.
The Tel Aviv Stock Exchange fell by 0.37%.
Nexi benefits from market rumors
The group I connected (+13.31% in Milan), specializing in electronic payments, benefited from an article from the financial agency Bloomberg, according to which the investment fund CVC Capital Partners would consider a buyout.
In Paris, the payment specialist Worldline posted the best growth in the CAC 40 with an increase of 4.05%.
For Adidas, nothing is impossible
The German sports equipment manufacturer Adidas (+4.23% in Frankfurt) raised its annual targets on Tuesday, driven by “better than expected” activity in the third quarter and by the sale of the latest stocks of Yeezy sneakers, following the end of its collaboration with rapper Kanye West.
ABB chute
The action of the Swiss-Swedish engineering group ABB (-5.88%) fell in Zurich following the publication of its quarterly results once morest a backdrop of falling demand for robots in China, its boss warning that the weakness of this market should persist.
Luxe: Kering s’offre Creed
The luxury group Dry (+0.17% in Paris) announced on Tuesday that it had finalized the acquisition of the “haute perfumery house” Creed, which “will be consolidated in the accounts of Kering from November 1, 2023”, specifies the group in a press release .
On the currency side
The euro was down once morest other currencies. It fell 0.14% once morest the dollar, to US$1.0562 per euro and lost 0.23% once morest the British currency at 86.61 pence.
1697640090
#Stock #market #whats #happening #markets #opening #Wednesday #October
