Stock exchange – Face OVL http://faceovl.com/ Thu, 26 May 2022 05:56:24 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://faceovl.com/wp-content/uploads/2021/07/icon-2021-07-08T143259.742-150x150.png Stock exchange – Face OVL http://faceovl.com/ 32 32 Sensex Today: LIVE Stock Market Updates: Sensex Drops 250 Bps on RIL, ITC Losses; Clever below 16,000; Asian Paints extends losses, down 4% https://faceovl.com/sensex-today-live-stock-market-updates-sensex-drops-250-bps-on-ril-itc-losses-clever-below-16000-asian-paints-extends-losses-down-4/ Thu, 26 May 2022 05:43:00 +0000 https://faceovl.com/sensex-today-live-stock-market-updates-sensex-drops-250-bps-on-ril-itc-losses-clever-below-16000-asian-paints-extends-losses-down-4/ !1 new updateClick here for the latest updates Jefferies has upgraded Jubilant FoodWorks to “Buy” after the recent inventory correction. BofA Securities maintained a similar rating on Coal India citing a beaten fourth-quarter Ebitda on higher achievement. JPMorgan maintained its “overweight” position in Nalco, but reduced its earnings multiples to reflect increased political risk. Credit […]]]>

!1 new updateClick here for the latest updates

Jefferies has upgraded Jubilant FoodWorks to “Buy” after the recent inventory correction. BofA Securities maintained a similar rating on Coal India citing a beaten fourth-quarter Ebitda on higher achievement. JPMorgan maintained its “overweight” position in Nalco, but reduced its earnings multiples to reflect increased political risk. Credit Suisse maintained an “outperform” option on InterGlobe Aviation (IndiGo) as it believed management commentary was strong, with March and April performance numbers. Meanwhile, Nomura India downgraded the ratings of many IT stocks.

Affle India, VIP Industries, MOSL among big losers, tank up to 7%

Price as of May 26, 2022 10:53Click on company names for their live prices.

Tax raids are underway in 35-40 premises in Gujarat. Raids are carried out at the premises of Asian Granito India: Sources (from agencies)

Price as of May 26, 2022 10:34 amClick on company names for their live prices.

Sensex Today LIVE: Sensex wipes out all gains, slides into red

Apollo Hospitals tumbles 5% as pharma reorganization drives fourth-quarter profits down 46% year-over-year

Shares of Apollo Hospitals Enterprises fell 4.5% in early trade Thursday after the hospital chain company said its consolidated after-tax (PAT) profit fell 46% year-on-year. other (YoY) at Rs 90 crore for the fourth quarter ended. on March 31, 2022. The healthcare provider had reported a PAT of Rs 168 crore in the January to March quarter of the 2020-21 financial year. The drop in net profit was due to a capital gains tax provision of Rs 88.2 crore related to the reorganization of its pharmaceutical distribution business.

Nomura downgraded Tata Consultancy Services and L&T Infotech to “reduce” from “neutral” and downgraded Wipro, HCL Technologies and Persistent Systems to “neutral” from “buy”. Infosys and Tech Mahindra are Nomura’s only “buy” listed stocks in the IT sector.

Price as of May 26, 2022 10:11 a.m.Click on company names for their live prices.

Sensex Today LIVE: Index off daily high, slips below 54,000 level

Sensex Today LIVE: Index off daily high, slips below 54,000 level

The Rupee gains 3 paise to 77.52 against the US Dollar in early trading

The rupiah rose 3 paise to 77.52 against the US dollar in Thursday’s opening session as the positive trend in domestic equities and weakness in the US currency abroad supported local unity. However, rising crude oil prices in international markets and continued outflows of foreign funds kept the pressure on the domestic currency, traders said.

Market View: Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

There are signs of market stabilization and consolidation around current levels. In the parent market, the United States, there is a strong view that recession fears are overblown. The S&P 500 rebounding from the 19% correction from the high may be a market message that the sharp correction is over.

For the Indian economy, high crude prices will continue to be a major headwind and strong REIT sales, which are expected to continue, will be a major impediment to market recovery.

The market trend continues to be uncertain and therefore what investors can do now is buy high quality stocks for the medium to long term. Financials, especially the big banks, are good medium to long-term buys.

STOCK IN FOCUS: SBI card

Voda Idea, Coal India, MRPL among the most active stocks on NSE

Price as of May 26, 2022 09:20Click on company names for their live prices.

Sector watch: FMCG, Realty pack only sector losers in opening session

Sector watch: FMCG, Realty pack only sector losers in opening session

OPENING BELL: Sensex jumps 350 points, Nifty near 16,100; IndiGo rallies 6%, Torrent Pharma 5%

OPENING BELL: Sensex jumps 350 points, Nifty near 16,100;  IndiGo rallies 6%, Torrent Pharma 5%

What to expect from Hindalco’s results today?

SGX Nifty reports positive start

Nifty futures on the Singapore Stock Exchange traded 77 points, or 0.48%, at 16,099.50, signaling Dalal Street was heading for a positive start on Thursday.

Tech View: Nifty50 Could See Remote Trading

Nifty50 on Wednesday fell for the third day in a row and formed a bearish candle on the daily chart, in as many trading sessions. During the session, the index managed to defend the 16,000 mark and continued its recent consolidation. Analysts said moves within the range may continue in the coming days and any rise in Nifty50 will face hurdles at the 16,400 level.

Hong Kong stocks open with gains

Hong Kong stocks opened strong on Thursday morning after a positive lead from Wall Street fueled by easing fears over the Federal Reserve’s interest rate hike plans. The Hang Seng Index rose 0.50%, or 100.95 points, to 20,272.22. The Shanghai Composite Index edged up 0.13%, or 4.02 points, to 3,111.48, while the Shenzhen Composite Index on China’s second largest stock exchange added 014%, or 2.69 points. , at 1,947.57.

Japanese stocks open higher after Wall Street gains

Shares in Tokyo opened higher on Thursday after gains on Wall Street, despite lingering concerns about inflationary pressures from the war in Ukraine. The benchmark Nikkei 225 added 0.14%, or 36.94 points, to 26,714.74, while the broader Topix index rose 0.45%, or 8.43 points, to 1,885, 01. The dollar settled at 127.30 yen, almost flat from 127.26 yen on Wednesday in New York.

Oil firms on tight supply though EU ban on Russian oil remains uncertain

Oil prices rose on Thursday, extending a cautious rally this week on signs of tight supplies as the European Union (EU) tussles with Hungary over its plan to ban imports from Russia, the world’s second crude exporter, after invading Ukraine. Brent futures for July settlement rose 7 cents, or 0.1%, to $114.10 a barrel at 0142 GMT. U.S. West Texas Intermediate (WTI) crude futures for July delivery climbed 22 cents, or 0.2%, to $110.55 a barrel.

US stocks climb as Fed minutes show resolve on rates

Stocks ended broadly higher on Wall Street on Wednesday after minutes from the Federal Reserve’s latest meeting signaled the central bank intended to move “quickly” to raise interest rates to higher levels. neutral in its fight to control inflation. The S&P 500 rose 0.9%, while the Dow Jones Industrial Average rose 0.6%. The Nasdaq climbed 1.5%. The indexes, which rallied after being in the red early on, are on course for a weekly gain, despite trading higher and lower this week.

The rupee gains 2 paise at 77.54 against the dollar

The rupee recovered 2 paise to settle at 77.55 against the US currency in restricted trade on Wednesday as bank interventions supported local unity while a stronger dollar in overseas markets limited gains . The US dollar ended its two-day loss before the release of the minutes of the US Fed meeting this month. The US dollar index gained 0.4% to 102.25 against a basket of six global currencies.

Sensex, Nifty on Wednesday

Extending the streak of losses to the third straight day, India’s stock market benchmark Sensex closed at 303 points on Wednesday, led by heavy selling pressure on IT stocks. The 30 S&P BSE Sensex shares fell 303.35 points or 0.56% to 53,749.26 points against the previous day’s close at 54,052.61 points. The broader National Stock Exchange Nifty 50 fell 99.35 points or 0.62% to 16,025.80 points.

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Moving forward on ESG: Saudi Arabian Stock Exchange strengthens sustainability commitments https://faceovl.com/moving-forward-on-esg-saudi-arabian-stock-exchange-strengthens-sustainability-commitments/ Tue, 24 May 2022 13:31:43 +0000 https://faceovl.com/moving-forward-on-esg-saudi-arabian-stock-exchange-strengthens-sustainability-commitments/ As ESG is rapidly gaining prominence in the global financial community, the Saudi Stock Exchange – one of the largest stock exchanges in the world with a total market capitalization of over $2.5 trillion – continues its efforts to promote ESG. importance of ESG and achieve long-term sustainable growth in Saudi Arabia and the wider […]]]>

As ESG is rapidly gaining prominence in the global financial community, the Saudi Stock Exchange – one of the largest stock exchanges in the world with a total market capitalization of over $2.5 trillion – continues its efforts to promote ESG. importance of ESG and achieve long-term sustainable growth in Saudi Arabia and the wider region. With sustainability being a fundamental part of Saudi Arabia’s Vision 2030 initiative, the Exchange prominently supports the integration of ESG across its operations and encourages stronger ESG disclosure in its ecosystem.

“ESG, as a concept, is relatively new to the Middle East, but it is critically important to Saudi ambition and something we have embraced, as it is central to our efforts to develop a more sustainable economic landscape which we believe can drive long-term economic growth for our listed companies,” said Mohammed Al-Rumaih, CEO of the Saudi Exchange.

Capitalize on the benefits of ESG and sustainability

“We are at the start of what we expect to be a long period of growth for ESG investing, and we see it as our responsibility to enable our listed companies to capitalize on this significant opportunity,” he said. he declares.

Furthermore, Al-Rumaih points out that adopting ESG will improve returns on investments by enabling better allocation of capital.

“Focusing more on sustainability allows businesses to reduce costs by reducing energy consumption and reducing waste,” says Al-Rumaih.

Beyond the appeal to investors, Al-Rumaih notes that there are myriad reasons why adopting ESG is a business imperative for all companies.

“Customers and employees are looking for companies that represent more than their bottom line. Companies that embrace ESG will attract a wider customer base and have an advantage in their ability to attract, motivate and retain talent,” he said.

Alignment with Vision 2030

The Kingdom’s Financial Sector Development Program (FSDP) is central to achieving the goals of Saudi Arabia’s Vision 2030, which aims to develop a diversified financial sector and ensure that Saudi Arabia builds a financial market. advanced capital. Advancing ESG issues is central to this mission to diversify the economy and create a sustainable financial sector, says Al-Rumaih.

“Sustainability is at the heart of everything the Kingdom does in pursuit of Vision 2030,” he says, noting that major programs such as the Saudi Green Initiative and the Middle East Green Initiative (both launched in October) show the Kingdom’s commitment to achieving net zero carbon emissions by 2060.

“As part of Vision 2030, Saudi Arabia aims to become a truly global nation with a financial ecosystem that connects opportunities in the Middle East to businesses and investors in the rest of the world. Our commitment to ESG is key to achieving these goals. The Saudi Stock Exchange has a central role to play in encouraging sustainable financial growth,” Al-Rumaih said.

Publication of new ESG disclosure guidelines

In October 2021, the Saudi Stock Exchange issued ESG disclosure guidelines for its more than 200 listed companies and others seeking to be listed on the stock exchange. Developed under the guidelines of the UN Sustainable Stock Exchange (SSE) model (the Saudi Exchange became an official SSE partner in 2018), the new guidelines introduced reporting standards and options for companies of all sizes, enabling them significantly improve quality and transparency. their reporting or begin the practice of reporting, if they have not already done so.

“When our exchange began our ESG journey in 2018, we found that while some of our listed companies were already at advanced stages of disclosure and reporting, the majority were unfamiliar with ESG reporting best practices. “, says Al-Rumaih. “Of course, this is a global issue, as companies around the world follow different methodologies and standards.”

The ESG guidelines issued by the exchange facilitate this challenge for Saudi companies, he notes. In addition, higher quality ESG reports allow business leaders and investors to more accurately assess a company’s true sustainability progress relative to its competitors. It also enables executives to identify targeted ways to improve a company’s ESG profile while helping investors spot new opportunities, as ESG information often provides key insights into a company’s management capabilities and priorities. ‘a company.

ESG awareness

“We want the new ESG disclosure guidelines to act as a catalyst to support sustainable and inclusive business practices in the Saudi capital market,” says Al-Rumaih. Since the guidelines were released, they have served as a powerful vehicle for raising awareness of the importance of ESG among companies in the region, he notes, prompting them to review and improve their sustainability initiatives and their ESG reporting efforts. “The guidelines will encourage companies to voluntarily disclose their ESG performance while providing structure and support on their ESG journey going forward,” Al-Rumaih said.

And, as the guidelines will be continuously updated to reflect the evolving ESG landscape, they will remain a relevant tool for the Saudi Stock Exchange in its ongoing efforts to help companies achieve sustainable business growth, he adds. .

Beyond the publication of the guidelines, the Saudi Stock Exchange has put in place additional measures to promote the implementation of ESG. In February 2022, the Exchange launched a series of ESG awareness webinars to broaden understanding among listed companies of the importance and benefits of implementing ESG from the perspective of many stakeholders. different.

Importantly, Al-Rumaih notes, the Saudi Stock Exchange plays an active role in helping companies achieve their sustainability goals by directly advising their executives on specific ways to improve both their ESG reporting and overall ESG profile by implementing best practices in their operations. For example, the Exchange organized a training session on the fundamentals of ESG disclosure and best practices for issuers to guide them in implementing ESG within their organizations.

The Saudi Exchange recognizes the importance of its role as a key driver of sustainability and ESG in Saudi Arabia. The Exchange has actively engaged stakeholders such as government entities, universities, investors and issuers to advance Saudi Arabia’s sustainable development efforts.

Lead by example

Along with its efforts to guide companies through their ESG journey, the Saudi Stock Exchange has undergone several internal changes to advance its own progress and continues to strive to improve its internal ESG best practices.

“ESG is more important than ever to us, and we currently have more than 15 initiatives centered on a few key themes – including economy, environment, education and community – that drive our ESG efforts,” says Al-Rumaih, noting that Saudi Arabia’s Public Investment Fund (PIF), a major shareholder in Saudi Tadawul Group, recently pledged $400 billion in global ESG investments.

Creating a more diverse workforce is an ESG priority for the Saudi Stock Exchange, says Al-Rumaih. “The Exchange was the first company in Saudi Arabia to sign the UN Women’s Empowerment Principles in 2019,” it adds.

The future of ESG in the Saudi capital market

Recent initiatives by the Saudi Stock Exchange – including the launch of voluntary ESG disclosure guidelines and helping companies in the Kingdom of Saudi Arabia to integrate high-quality ESG reporting and best practices into their operations – are key steps to ensure that the Saudi capital market becomes a major destination for investors. And, just as important, they encourage investors to unlock the many new opportunities created by ESG in the region and beyond.

Learn more about the Saudi Stock Exchange’s commitment to advancing ESG.

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Top U.S. stock market gainers for the third week of May https://faceovl.com/top-u-s-stock-market-gainers-for-the-third-week-of-may/ Sun, 22 May 2022 18:47:47 +0000 https://faceovl.com/top-u-s-stock-market-gainers-for-the-third-week-of-may/ It was another bearish week for US equities, with major indices suffering weekly declines. The S&P 500’s decline from its all-time high in January hit 20% at one point, before a late-session reversal propelled the benchmark to a flat finish. The New York Stock Exchange (NYSE) All Share Index (ASI) lost 1.16% for the week, […]]]>

It was another bearish week for US equities, with major indices suffering weekly declines. The S&P 500’s decline from its all-time high in January hit 20% at one point, before a late-session reversal propelled the benchmark to a flat finish.

The New York Stock Exchange (NYSE) All Share Index (ASI) lost 1.16% for the week, marking its 8th consecutive week of decline. It opened trading at 15,257.4 basis points and it closed the week trading at 15,081.0 basis points. Although the week started lower for the NYSE in the first two days, however, Wednesday’s decline saw the stock market index trade at a price not traded since February 2021. Despite the gains seen during of the past two trading days, that wasn’t enough to reverse Wednesday’s decline.

The NASDAQ posted its 7th week of declines, losing 3.82% in the week under review. It started at a basis point of 11,729.33 and ended the week at 11,354.62 basis points. The week in question saw a drop in trading volume from the previous week of 2.43% as the market recorded a volume of 1.20 billion.

The Dow Jones and the S&P 500 also posted declines, of 2.90% and 3.10% respectively. The Dow Jones is in its 8th week of declines while the S&P 500 is in its 7th week of market declines.

What moves the market?

Stocks plunged into bearish territory on Friday. The recent decline in investor confidence is mainly attributable to lackluster retail profits, which have raised fears that a consumer-driven slowdown is approaching, in addition to challenges related to inflation and the supply chain. supplies that have weighed on sentiment for weeks.

To show just how big the market decline is today, the S&P 500 and Nasdaq posted their seventh consecutive week of losses. It is the index’s longest losing streak since the end of the dot-com bubble in 2001. The Dow Jones index suffered its eighth consecutive weekly decline, the longest since 1932, during the Great Depression.

The S&P 500 spent most of the session in negative territory and at one point was down just over 20% from its January 3 closing high before ending down 18% from compared to this level and stable for the day. A 20% close from that all-time high would confirm that the S&P 500 has been in a bear market since hitting that January high, by a common definition. The tech-heavy Nasdaq was last down about 27% from its record close in November 2021.

Specifically, Tesla’s stock price fell 6.4% after CEO Elon Musk denounced “totally false” claims in a news report that he sexually harassed a flight attendant. air in a private jet in 2016. Other Megacap shares also weighed heavily on the S&P 500. fell, with Apple down 5.50%, Google-owner Alphabet Inc down 1.3 % and Nvidia down 2.5%.

Recent disappointing forecasts from major retailers like Walmart, Kohl’s Corp and Target Inc are also weighing on the markets.

Ross Stores plunged 22.5% on Friday after the discount clothing retailer slashed its 2022 sales and profit forecast, while Vans brand owner VF Corp gained 6.1% on solid earnings outlook for 2023. Shares of Deere & Co fell 14% after the heavy equipment maker reported lower quarterly earnings. Pfizer rose 3.6%, helping the S&P 500 avoid a loss for the day.

Twitter’s share price was on the move again on Tuesday morning as Elon Musk confirmed his $44 billion deal for the platform cannot move forward until there is more clarity. on the number of fake accounts. The stock fell 3% to $36 in premarket trading on the news, down 25% overall from the previous week, as completion of the deal looked increasingly uncertain. In fact, the stock has lost all of its gains since closing at $39.31 on April 1, which was the last session before the billionaire disclosed his minority stake in Twitter.

At the macro level, soaring inflation and rising interest rates are also weighing on the market. These factors have hit the US stock market this year, with danger signals from Walmart Inc and other retailers this week adding to fears about the economy.

Despite these factors weighing on the market, there appears to be a silver lining, if one squints hard enough, which includes falling US bond yields, a topping of the US dollar and commodity prices, and a partial reopening of COVID lockdowns in China.

Top 5 winners

Although US markets performed poorly, there are still a few notable winners for the week. They include:

  • Applied Blockchain Inc (APLD) 102.78%
  • Nanoviricides Inc (NNVC) 101.18%
  • Redbox Entertainment Inc. (RDBX) 98.51%
  • Agriforce Growing Systems Ltd (AGRI) 76.05%
  • Biomea Fusion Inc (BMEA) 69.43%

Top 5 losers

  • Polarityte Inc (PTE) -55.60%
  • Chimerix Inc (CMRX) -44.58%
  • An2 Therapeutics Inc (ANTX) -41.18%
  • Tonix Pharm Holdings (TNXP) -39.73%
  • Cynng Inc (CYN) -38.30%

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Vietnam sacks head of country’s main stock exchange for ‘wrongdoing’ https://faceovl.com/vietnam-sacks-head-of-countrys-main-stock-exchange-for-wrongdoing/ Sat, 21 May 2022 03:20:00 +0000 https://faceovl.com/vietnam-sacks-head-of-countrys-main-stock-exchange-for-wrongdoing/ An investor is seen on the stock screens of a securities firm in Hanoi, Vietnam April 20, 2016. REUTERS/Kham Join now for FREE unlimited access to Reuters.com Register HANOI, May 21 (Reuters) – Vietnam has sacked the chief executive of its main Ho Chi Minh Stock Exchange (HoSE), the government said on Saturday, as the […]]]>

An investor is seen on the stock screens of a securities firm in Hanoi, Vietnam April 20, 2016. REUTERS/Kham

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HANOI, May 21 (Reuters) – Vietnam has sacked the chief executive of its main Ho Chi Minh Stock Exchange (HoSE), the government said on Saturday, as the country steps up a long-running crackdown on officials it accuses of corruption.

Hai Tra, 47, was fired for “committing serious violations and misdeeds”, the government said in a statement, without further details. He was also expelled from the Communist Party of Vietnam.

Tra, who holds a dual master’s degree in finance and administration from Harvard’s Kennedy School of Government, did not immediately respond to requests for comment.

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Vietnamese authorities in March called for an intensification of the fight against corruption in the Southeast Asian country, with a focus on financial markets.

A series of high-profile corporate arrests on market manipulation charges sparked a $40 billion wipeout for Vietnamese stocks and shook investor confidence in the fast-growing economy.

Tra will be replaced by Tran Anh Dao, the deputy head of the HoSE, the government said.

Vietnam on Friday sacked the chairman of its state securities commission, Tran Van Dung, on the same charges as Tra.

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Reporting by Phuong Nguyen; Editing by William Mallard

Our standards: The Thomson Reuters Trust Principles.

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Profit taking in store for the Taiwan stock market https://faceovl.com/profit-taking-in-store-for-the-taiwan-stock-market/ Thu, 19 May 2022 00:30:16 +0000 https://faceovl.com/profit-taking-in-store-for-the-taiwan-stock-market/ (RTTNews) – Taiwan’s stock market has finished higher in four straight sessions, jumping nearly 700 points or 4.4% along the way. The Taiwan Stock Exchange is now just below the 16,300 plateau, although it is expected to consolidate on Thursday. Global forecasts for Asian markets suggest consolidation in profit taking, with oil and retail stocks […]]]>

(RTTNews) – Taiwan’s stock market has finished higher in four straight sessions, jumping nearly 700 points or 4.4% along the way. The Taiwan Stock Exchange is now just below the 16,300 plateau, although it is expected to consolidate on Thursday.

Global forecasts for Asian markets suggest consolidation in profit taking, with oil and retail stocks leading the way lower. European and American markets were down and Asian markets should follow suit.

The TSE ended sharply higher on Wednesday after gains in financial stocks, technology stocks and plastics companies.

For the day, the index climbed 240.77 points or 1.50% to end at 16,296.86 after trading between 16,172.80 and 16,316.58.

Among assets, Cathay Financial rose 2.85%, while Mega Financial accelerated 2.88%, CTBC Financial collected 2.35%, Fubon Financial jumped 3.41%, First Financial soared 3.33%, E Sun Financial soared 3.50%, Taiwan Semiconductor Manufacturing Company strengthened 1.51%, United Microelectronics Corporation jumped 1.60%, Hon Hai Precision jumped 1.90% , Largan Precision was up 0.31%, Catcher Technology was up 0.96%, MediaTek was up 1.66%, Delta Electronics was up 2.67%, Novatek Microelectronics was up 0.13%, Formosa Plastics rose 1.46%, Nan Ya Plastics gained 1.48%, Asia Cement lost 0.22% and Taiwan Cement rose 0.24%.

Wall Street’s lead is brutally negative as major averages opened lower on Wednesday and saw losses accelerate as the day wore on, ending deep in the red.

The Dow Jones fell 1,164.52 points or 3.57% to end at 31,490.07, while the NASDAQ plunged 566.37 points or 4.73% to close at 11,418.15 and the S&P 500 fell 165.17 points or 4.04% to end at 3,923.68.

Retail stocks led markets lower, with the Dow Jones US Retail Index plunging 7.7% to its lowest closing level in nearly two years. Target (TGT) posted a particularly large loss after the discount retailer reported quarterly results that fell short of expectations.

Substantial weakness was also visible among transportation stocks, as evidenced by the 7.4% drop in the Dow Jones Transportation Average. Housing inventories also saw significant weakness during the day, dragging the Philadelphia housing sector index down 4.6%.

In economic news, the Commerce Department noted a slight decline in new residential construction and building permits in April.

Crude oil futures stabilized on Wednesday despite data showing a drop in crude inventories last week. A stronger dollar amid growing prospects for deeper interest rate hikes by the Federal Reserve also contributed to the decline. West Texas Intermediate crude oil futures ended down $2.81, or about 2.5%, at $109.59 a barrel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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About 22 companies plan to re-list on the Beijing Stock Exchange https://faceovl.com/about-22-companies-plan-to-re-list-on-the-beijing-stock-exchange/ Tue, 17 May 2022 08:54:52 +0000 https://faceovl.com/about-22-companies-plan-to-re-list-on-the-beijing-stock-exchange/ This marks a boom for the Beijing Stock Exchange, which aims to improve the financing system for small and medium-sized businesses A total of 22 companies have applied for a second listing on China’s Beijing Stock Exchange so far this year, marking a 200-day-old stock market boom for small and medium-sized businesses. The companies have […]]]>

This marks a boom for the Beijing Stock Exchange, which aims to improve the financing system for small and medium-sized businesses

A total of 22 companies have applied for a second listing on China’s Beijing Stock Exchange so far this year, marking a 200-day-old stock market boom for small and medium-sized businesses.

The companies have applied for listing on the “New Third Board” (Chinese: 新三板), which refers to the so-called “Innovation Level” of the National Equities Exchange and Quotations (NEEQ) OTC Beijing. Companies can enter the new exchange from the “select level” of the NEEQ.

Companies planning to re-list for the board included Vichnet (Chinese: 纬诚科技), Suzhou Homesun Pharmaceutical (Chinese: 弘森药业), and Chongqing Mexin Yishen Machinery (Chinese: 美心翼申).

After their delisting from the NEEQ, several companies failed to enter the A-share market which trades on the Shanghai Stock Exchange and the Shenzhen Stock Exchange, and they became determined to return to the NEEQ or try to be listed on the Beijing Stock Exchange.

“Since its establishment, the status of the Beijing Stock Exchange has improved significantly and it has become more attractive to businesses,” said Zhang Keliang, general manager of stock exchange business at Yintai Securities, adding that the companies that re-applyed for listing this year are relatively high quality companies that can be listed.

“The Beijing Stock Exchange has boosted the confidence of small and medium-sized businesses through stocks,” he said.

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US stock market ends second week of May with massive losses https://faceovl.com/us-stock-market-ends-second-week-of-may-with-massive-losses/ Sun, 15 May 2022 17:46:49 +0000 https://faceovl.com/us-stock-market-ends-second-week-of-may-with-massive-losses/ It was another bearish week for US equities, with major indexes suffering weekly declines, the effects of the Federal Reserve’s decision to raise the interest rate from 0.50% to 1%, the highest since the year 2000, still weighing on the markets. The New York Stock Exchange (NYSE) All Share Index (ASI) lost 2.53% for the […]]]>

It was another bearish week for US equities, with major indexes suffering weekly declines, the effects of the Federal Reserve’s decision to raise the interest rate from 0.50% to 1%, the highest since the year 2000, still weighing on the markets.

The New York Stock Exchange (NYSE) All Share Index (ASI) lost 2.53% for the week, marking its 7th consecutive week of decline. It opened trading at 15,566.6 basis points and it closed the week trading at 15,257.4 basis points. Although the week started down for the NYSE for the first three days, Friday’s market bulls managed to lessen the damage, but weren’t enough to stop the bleeding.

The NASDAQ posted its 6th week of declines, losing 2.80% in the week under review. It started at a basis point of 11,923.03 and ended the week at 11,805.00 basis points. The week in question saw an increase in trading volume from the previous week of 37% as the market recorded a volume of 1.23 billion.

The Dow Jones and S&P 500 also posted declines, of 2.14% and 2.41% respectively. The Dow Jones is in its 7th week of declines while the S&P 500 is in its 6th week of market declines.

What moves the market?

The stock market ended the second week of May with massive losses. All three major indexes started the week with declines, then gained sharply higher on Friday after Chairman Jerome Powell argued that a 75 basis point rate hike was still off the table. The Dow Jones Industrial Average ended with its seventh consecutive weekly loss, marking its longest losing streak since 2001, while the S&P 500 slid 2.4% for its longest weekly losing streak since 2011, and the Nasdaq Composite fell 2.8%.

Over the past six trading days, the US Department of Labor released four economic reports – wage growth, CPI, PPI and import prices – which together suggested that inflation peaked in March, good news for market participants concerned that the Fed could trigger a recession with a wave of interest rate hikes to fight inflation.

The first quarter US reporting season has reached its final stretch, with 458 S&P 500 companies reporting. Of these, 78% provided results above the consensus, according to Refinitiv. For the first three months of the year, analysts now expect overall S&P 500 annual earnings growth of 11.1%, down from 6.4% at the end of the quarter, according to Refinitiv.

On Friday, Elon Musk announced that his planned acquisition of Twitter was “temporarily suspended” over concerns over fake accounts, which sent the stock down 9.7%. Also on Friday, shares of Robinhood soared 25% after Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, disclosed a 7.6% stake in the company.

In Monday’s intraday session, Saudi Aramco (ARMCO) officially overtook Apple as the world’s most valuable company on Wednesday. The public energy giant closed the session with a market cap of $2.43T, while the iPhone maker ended the day at $2.37T. In fact, it’s a trend that has accelerated this year, with the energy sector supported by a surge in oil prices following a surge in inflation that dampened demand for high-flying tech stocks. . This shows that Aramco shares are up 30% year-to-date, while Apple shares have slipped 20% year-to-date.

Shares of Disney (DIS) initially rose after the bell on Wednesday, but then extended a selloff seen in the previous session by falling 2.6% to $102.40 in AH trading. The new 52-week low saw investors focus on the company’s revenue and earnings failures, as well as widening losses in its direct-to-consumer segment. Operating losses for Disney’s streaming business, which also includes ESPN+ and Hulu, tripled to $877 million from a year ago, due to higher programming and production spending .

The White House on Thursday announced steps to ease the current baby formula shortage, which has worsened in recent weeks due to a major product recall and supply chain issues. In fact, in the first week of May, 43% of infant formula supplies were out of stock nationwide, up from 31% two weeks earlier, according to retail price data website Datasembly. Many stores also have quotas in place on how much formula a person can buy at a time, while pediatricians recommend not diluting formula (which could be harmful to the kidneys) or switching to other brands.

List of the top 5 winners

Although US markets performed poorly, there are still a few notable winners for the week. They include:

  • Hemisphere A Media (HMTV) 72.94%
  • Biohaven Pharmaceutical Holding Ltd (BHVN) 56.23%
  • Veru Inc. (VERU) 53.66%
  • Blue Water Vaccines Inc (BWV) 50.53%
  • Compass Therapeutics Inc (CMPX) 50.30%

Top 5 losers include;

  • Therapeutic md Inc (TXMD) -59.95%
  • Redbox Entertainment Inc (RDBX) -56.35%
  • Upstart Holdings Inc (UPST) -54.55%
  • Kaleyra Inc (KLR) -52.66%
  • Sql Technologies Corp (SKYX) -46.49%

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Stocks have almost entered a bear market. What the story says comes next. https://faceovl.com/stocks-have-almost-entered-a-bear-market-what-the-story-says-comes-next/ Sat, 14 May 2022 00:34:00 +0000 https://faceovl.com/stocks-have-almost-entered-a-bear-market-what-the-story-says-comes-next/ Text size Everything about the markets seemed on the verge of crashing this week. NYSE This is the moment of truth for equities and investors may not like what’s to come. For a while last week, the stock market felt like it was already there. Thursday morning, the S&P500 The index, down 19.6% from its […]]]>

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Stock futures fall as inflation weighs on markets https://faceovl.com/stock-futures-fall-as-inflation-weighs-on-markets/ Thu, 12 May 2022 09:06:54 +0000 https://faceovl.com/stock-futures-fall-as-inflation-weighs-on-markets/ US stock futures fell, heralding a second day of market turmoil due to stronger-than-expected US inflation. S&P 500 futures fell 0.6% after the broad index closed 1.7% on Wednesday. Nasdaq-100 futures fell 1%, suggesting more losses for tech stocks after the opening bell. Stocks are under pressure on concerns over the withdrawal of accommodative monetary […]]]>

US stock futures fell, heralding a second day of market turmoil due to stronger-than-expected US inflation.

S&P 500 futures fell 0.6% after the broad index closed 1.7% on Wednesday. Nasdaq-100 futures fell 1%, suggesting more losses for tech stocks after the opening bell.

Stocks are under pressure on concerns over the withdrawal of accommodative monetary policies from the Federal Reserve as it battles the recent surge in high inflation. A data release on Wednesday showed consumer prices rose less rapidly than the previous month, but still at a faster pace than economists expected.

That fueled further fears that the central bank would hike interest rates at an aggressive pace, weighing on markets that had grown accustomed to accommodative monetary policy. The S&P 500 has lost more than 4.5% this week so far. The Nasdaq Composite fell to its lowest level since November 2020.

“Markets fear that central banks, in trying to control inflation, could trigger a recession or at least a sharp economic slowdown. When you look at the CPI data yesterday, it might be a bit too early to call the peak of inflation,” said Luc Filip, chief investment officer at SYZ Private Banking.

The yield on the benchmark 10-year Treasury fell to 2.832% from 2.918% on Wednesday, down slightly for a fourth straight trading session. Yields and bond prices move in opposite directions.

“Markets, at the margin, have shifted their likelihood to a hard landing and further Fed tightening,” said Karim Chedid, investment strategist at BlackRock. Falling longer-term bond yields suggest growth expectations have fallen, he said.

The Producer Price Index, another measure of inflation, will be available at 8:30 a.m. ET. Economists expect the prices suppliers charge businesses to ease in April. Weekly jobless claims are also planned for the same period.

The dollar strengthened for a fifth straight day, with the WSJ dollar index rising 0.2% to its highest level since March 2020.

Cryptocurrencies continued to dive, with bitcoin dropping more than 10% to $25,400, the lowest level since December 2020, before falling back to around $28,000. It has lost more than 60% of its value since its peak last November. Ether fell almost 9% on Wednesday to trade around $1,850.

Earnings season continues apace, with WeWork, Six Flags Entertainment and Endeavor Group expected to report on Thursday.

In premarket trading, Beyond Meat plunged 23% after the meat alternatives company reported a bigger-than-expected loss last quarter due to higher spending. Coinbase fell another 8%, extending its slide after losing more than a quarter of its value on Wednesday.

Walt Disney fell 4.7% after the company posted higher operating losses and its chief financial officer said it could not sustain its current streaming subscriber growth rate. Electric car company Rivian Automotive rose 2.9% after executives said they expect supply chain issues to ease later this year.

Oil prices fell after US crude inventories rose more than expected. Global benchmark Brent fell 2.1% to trade at $105.24 a barrel. Prices were also weighed by slow progress in European Union negotiations to potentially ban imports of Russian crude, ANZ analysts said.

Traders worked on the floor of the New York Stock Exchange on Wednesday.


Photo:

BRENDAN MCDERMID/REUTERS

Overseas, the pancontinental Stoxx Europe 600 index fell 2.2%. British investment firm Hargreaves Lansdown fell 10% after reporting a drop in assets under administration.

European government bonds rallied, with the yield on German 10-year bonds falling to 0.881%, the lowest level this month.

A benchmark for natural gas prices in Western Europe rose 13% after Russia sanctioned several European companies in the gas supply chain late on Wednesday, raising the risk of disruptions.

In Asia, most major benchmarks fell. Hong Kong’s Hang Seng Index fell 2.2% and Japan’s Nikkei 225 fell 1.8%.

Hong Kong’s monetary authority intervened in the foreign exchange market to defend its currency peg for the first time in three years, spending $202 million.

Write to Anna Hirtenstein at anna.hirtenstein@wsj.com

Copyright ©2022 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

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Colombo Stock Exchange closed amid unrest https://faceovl.com/colombo-stock-exchange-closed-amid-unrest/ Tue, 10 May 2022 09:53:41 +0000 https://faceovl.com/colombo-stock-exchange-closed-amid-unrest/ Colombo, May 10 (IANS): The Colombo Stock Exchange (CSE) declared a public holiday on Tuesday as a nationwide curfew was imposed due to the violence that followed the previous night. The CSE said in a statement that it was informed that the central bank’s real-time gross settlement system will not work on Tuesday, the […]]]>

Colombo, May 10 (IANS): The Colombo Stock Exchange (CSE) declared a public holiday on Tuesday as a nationwide curfew was imposed due to the violence that followed the previous night.

The CSE said in a statement that it was informed that the central bank’s real-time gross settlement system will not work on Tuesday, the Xinhua news agency reports.

Thus, the CSE Central Depository System is unable to complete the funds settlement and securities settlement falling on Tuesday under the delivery versus payment settlement mechanism.

“Under these circumstances, the CSE has declared Tuesday a holiday for the above operational reasons,” the CSE said.

At least five people have been killed and more than 200 people are believed to have been admitted to Colombo National Hospital following violence that erupted in the capital on Monday following clashes between pro and anti-government protesters.

Mahinda Rajapaksa resigned as prime minister on Monday as violent protests erupted.

Meanwhile, President Gotabaya Rajapaksa urged the opposition to form a multi-party government, but the latter refused to do so until he resigned.

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