Japan stocks higher at close of trade; Nikkei 225 up 1.03pc
Japan stock were higher after the close on Tuesday, as gains in the Gas & Water, Power and Mining sectors led shares higher. At the close in Tokyo, the Nikkei 225 rose 1.03 percent. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 2043 to 1447 and 298 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 5.82 percent to 22.99. Crude oil for August delivery was up 1.26 percent or 1.37 to $109.80 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 0.22 percent or 0.25 to hit $113.25 a barrel, while the August Gold Futures contract rose 0.35 percent or 6.30 to trade at $1,807.80 a troy ounce. USD/JPY was up 0.38 percent to 136.21, while EUR/JPY rose 0.03 percent to 141.45. The US Dollar Index Futures was up 0.28 percent at 105.28.
Closing bell: Sensex gains 616 pts
Benchmark indices ended on positive note with Nifty closing near 16,000 led by the auto, FMCG and financial stocks. At close, the Sensex was up 616.62 points or 1.16 percent at 53,750.97, and the Nifty was up 178.90 points or 1.13 percent at 15,989.80. About 1779 shares have advanced, 1436 shares declined, and 131 shares are unchanged. Britannia Industries, Bajaj Finance, Bajaj Finserv, HUL and Eicher Motors were among the top Nifty gainers. ONGC, Power Grid Corp, NTPC, HDFC Life and Hindalco Industries were among the losers on the index. On the sectoral front, the Auto, FMCG, Realty, IT and Bank indices gained 1-2, while selling was seen in the Metal stocks. The BSE midcap index rose 1.7 percent, and smallcap index added 0.94 percent.
France stocks lower at close of trade; cac 40 down 2.68pc
France stocks were lower after the close on Tuesday, as losses in the Technology, Utilities and Industrials sectors led shares lower. At the close in Paris, the CAC 40 lost 2.68 percent to hit a new 52-week low, while the SBF 120 index lost 2.65 percent. Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 404 to 154 and 85 ended unchanged. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was unchanged 0.00 percent to 18.96 a new 52-week high. Gold Futures for August delivery was down 1.93 percent or 34.85 to $1,766.65 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 9.26 percent or 10.04 to hit $98.39 a barrel, while the September Brent oil contract fell 10.05 percent or 11.41 to trade at $102.09 a barrel. EUR/USD was down 1.69 percent to 1.02, while EUR/GBP unchanged 0.19 percent to 0.86. The US Dollar Index Futures was up 1.52 percent at 106.50.
DAX: German stocks attempt to stabilize
The DAX saw mixed movement during Wednesday’s European Session with both an attempted bullish and bearish trend. So far, we have not seen an impulse waveform and hold. US stock market is closed for Independence Day, and economists were eager to see if European stocks would perform better while other markets were closed. In the second quarter of 2022, the German index lost 17 percent, its worst performance since the banking crisis 15 years ago. The price action over the past month has declined by 12.55 percent, and present’s price is at a slight decline measuring 0.19 percent. The price so far has not been able to form enough bullish movement to form anything more than a minor retracement in the larger trend. The price over the past month has only continued to form lower lows and lower highs. Traders are now looking to see if the asset can break through the latest and lowest support level of 12,616. The DAX is not the only stock-based index to have witnessed declines; the CAC has also declined by 8.5 percent, and the Spanish IBEX 35 has declined by 6.92 percent. The downtrend in European stock is essentially a domino effect of analysts’ fears about a possible recession due to the continued rise in inflation in Germany and the EU as a whole.
FTSE 100 down 2.9pc
Britain’s FTSE 100 index tumbled on Tuesday, dragged lower by economy-sensitive energy, mining and financial shares as a surge in natural gas prices after a strike in Norway fanned worries about inflation and higher risk of a recession. The blue-chip index fell 2.9 percent to close at its lowest level since June 24. The domestically oriented FTSE 250 index slid 1.5 percent, logging its fifth straight day of falls and hitting its lowest level since November 2020. Oil majors BP Plc and Shell dropped 7 percent and 8.5 percent, respectively, tracking a decline in crude prices. Banks, life insurers and miners dipped between 3.6 percent and 6.6 percent. While crude prices fell on recession angst, British gas prices leapt nearly 16 percent on concerns about pipeline supplies from Norway after offshore workers there began a strike demanding wage hikes. Adding to the gloom, the Bank of England warned that the economic prospects for Britain and the world had darkened since the start of the year and told banks to ramp up capital buffers to ensure they could weather the storm.
S&P 500 futures are little changed
U.S. equities futures were little changed on Wednesday morning after the market staged a big midday reversal on Tuesday, with falling bond yields giving a boost to growth stocks, and ahead of a batch of economic data. Futures tied to the Dow Jones Industrial Average were close to the flatline. S&P 500 futures and Nasdaq 100 futures were also about flat. In regular trading, the Dow lost 129 points to start the holiday-shortened week, trimming steeper losses from earlier in the session. The S&P 500 rallied back from a 2 percent loss in the final hour of trading and finished the day up 0.2 percent. The tech-heavy Nasdaq Composite outperformed, jumping 1.75 percent. Whether the economy is about to fall into a recession continued to worry investors after the benchmark 10-year U.S. Treasury yield fell below the 2-year yield. The so-called yield curve inversion historically has been a warning sign that the economy may be falling or has already fallen into recession.