Site icon Pakistan & Gulf Economist

Global stock market trading

world stock markets in December 2022
CAC 40 up 0.39pc

France stock were higher after the close on Wednesday, as gains in the Oil & Gas, Basic Materials and Financials sectors led shares higher. At the close in Paris, the CAC 40 added 0.39 percent, while the SBF 120 index added 0.38 percent. Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 279 to 249 and 95 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 December delivery was up 0.08 percent or 1.35 to $1,762.55 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in October rose 0.06 percent or 0.06 to hit $93.80 a barrel, while the October Brent oil contract fell 0.14 percent or 0.14 to trade at $100.08 a barrel.

Sensex ends 300 pts below

Benchmark indices nosedived towards the end to shed around 0.5 percent after remaining comfortably green throughout the day. Sensex pared 310 points and closed at 58,774. Nifty tumbled by 82 points to close at 17,522. Most of the indices ended in red but IT, Pharma, and Metal stocks contributed the most toward the decline. PSU Bank, Realty and Consumer Durables were the only indices to remain in the green at the end of the session. Among stocks, Adani Ports, Bajaj Finance and Cipla shed the most, whereas Shree Cement and Divi’s Laboratories made decent gains. Asian market otherwise had a healthy day as investors awaited the US Federal Reserve’s Jackson Hole conference for clues on the pace of rate hikes.

Hang seng index prediction as China housing bubble bursts

The Shanghai and Hang Seng index slipped this week as concerns about the Chinese economy continue. Hang Seng, the blue-chip index of top China companies, slipped to a low of H$19,300, which was the lowest level since May 10 of this year. It has crashed by almost 40 percent from its highest level in 2021. The Hang Seng index is made up of some of the biggest companies in China like Alibaba and Tencent. It is also made up of the leading real estate companies like Country Garden, China Land, and CK Asset among others. The index has underperformed its global peers because of several key reasons. First, there are signs that the broad economy is slowing. In the past two weeks alone, the PBOC has slashed three interest rates in a bid to support the economy. This happened after a series of weak economic data on industrial production and retail sales. Second, China’s property bubble has burst and analysts believe that the situation is much worse on the ground.

Nikkei 225 up 0.57pc

Japan equities were higher at the close on Friday, as gains in the Power, Steel and Insurance sectors propelled shares higher. At the close in Tokyo, the Nikkei 225 gained 0.57 percent. Advancing stocks outnumbered falling ones by 1785 to 1676 and 335 ended unchanged on the Tokyo Stock Exchange. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 4.56 percent to 19.06. In commodities trading, Crude oil for October delivery was up 0.92 percent or 0.85 to $93.37 a barrel. Meanwhile, Brent oil for delivery in October rose 0.91 percent or 0.90 to hit $100.24 a barrel, while the December Gold Futures contract fell 0.30 percent or 5.35 to trade at $1,766.05 a troy ounce. USD/JPY was up 0.39 percent to 137.04, while EUR/JPY rose 0.37 percent to 136.63. The US Dollar Index Futures was up 0.10 percent at 108.54.

DAX up 0.39pc

Germany stocks were higher after the close on Thursday, as gains in the Technology, Food & Beverages and Transportation & Logistics sectors led shares higher. At the close in Frankfurt, the DAX rose 0.39 percent, while the MDAX index climbed 0.05 percent, and the TecDAX index climbed 0.75 percent. Rising stocks outnumbered declining ones on the Frankfurt Stock Exchange by 354 to 300 and 107 ended unchanged. Shares in Uniper fell to all time lows; losing 7.08 percent or 0.44 to 5.71. Shares in Encavis AG rose to 52-week highs; up 4.90 percent or 1.14 to 24.39. The DAX volatility index, which measures the implied volatility of DAX options, was down 4.50 percent to 26.09. Gold Futures for December delivery was up 0.57 percent or 10.05 to $1,771.55 a troy ounce.

Growth fears drag on FTSE 100

Commodity and financial stocks dragged the UK’s FTSE 100 lower on Wednesday on worries about a slowdown in global economic growth, although a jump in AVEVA Group on buyout news and a weaker pound helped limit losses on the exporter-heavy index. The blue-chip FTSE 100 edged down 0.2 percent for a third consecutive session of losses, while the midcap FTSE 250 index reversed an earlier drop to a new five-week low to close unchanged. AVEVA soared 27 percent after French industrial conglomerate Schneider, which owns nearly 60 percent of the software company, said it was considering buying out minority shareholders. Business surveys released the previous day showed the global economy increasingly at risk of sliding into recession, while in Britain a fall in factory output slowed private sector activity in August. Investors are betting on another 50-basis-point rate hike from the Bank of England next month as inflation climbs past 10 percent.

Dow closes 300 points higher

The Dow Jones Industrial Average jumped Thursday, extending a two-day rally ahead of Federal Reserve Chair Jerome Powell’s Jackson Hole speech. The Dow spiked 322.55 points, or 0.98 percent, to 33,291.78, with gains accelerating in the final hour of trading. The S&P 500 jumped 1.41 percent to 4,199.12, and the Nasdaq Composite advanced 1.67 percent to 12,639.27. Still, the major averages are on pace for a losing week. The Dow is down 1.23 percent through Thursday, the S&P 500 is 0.69 percent lower, and the Nasdaq Composite is down 0.52 percent. Materials, communication services and information technology outperformed in the S&P 500. Consumer staples and utilities underperformed the broader market index. Snowflake jumped 23.1 percent after posting a beat on revenue. Shares of Peloton dropped 18.3 percent after the equipment maker reported an earnings miss. Traders will be listening for more information out of the Jackson Hole economic symposium, with Fed Chair Jerome Powell scheduled to speak Friday.

Exit mobile version