UK stocks fall
This Wednesday, UK stock indexes closed lower in the global stock market after data showed consumer prices returned to a 40-year high in September, while banking stocks were hit by reports of windfall taxes. The blue-chip FTSE 100 index (.FTSE) slipped 0.2 percent after a four-day run of gains following the historic reversal of the new government’s failed fiscal plan. The biggest jump in food prices since 1980 pushed British inflation back into double digits in September, matching a 40-year high hit in July, dealing a fresh blow to households grappling with the cost-of-living crisis.
Sensex climbs 95 pts
Indian indices remained volatile but ended higher on Thursday thanks to a late rally led by the PSU Bank index. Indices closed in the green for the fifth session in a row. Sensex ended with a gain of 95 points to close at 59,202, while Nifty closed at 17,563, a jump of 51 points. IndusInd Bank, despite its good quarterly report, shed 5 percent in Thursday’s session. Asian Paints also lost ground after missing its profit estimate. UPL climbed 5 percent, and Adani Enterprise and HCL Tech gained 2 percent. Among sectoral indices, PSU Bank dragged throughout the session but rallied towards the end to jump 2 percent. IT, Oil & Gas, FMCG, and Metal also made decent gains. Consumer Durables and Private Bank indices dragged. Japan’s Nikkei share average cut losses in volatile afternoon trade on Thursday. The Nikkei share average finished the day down 0.92 percent. The index rose following a Bloomberg report that China was considering a cut in the quarantine period for inbound tourists. China and Hong Kong shares dragged Thursday amidst China considering cutting quarantine time for inbound visitors from 10 to 7 days as per Bloomberg News. China’s blue-chip CSI300 Index ended lower by 0.6 percent, and the Shanghai Composite Index lost 0.3 percent. The Hang Seng Index finished down 1.4 percent after slumping as much as 3 percent to hit levels last seen during the 2008-09 global financial crisis. European stock markets are trading lower as investors are worried about persistent inflation and depressing earnings report from BE Semiconductor and Nokia. Most sectors on the STOXX 600 are in negative territory.
Nikkei 225 is up 3.25pc
Japan equities were higher at the close on Friday, as gains in the Warehousing, Railway & Bus, and Retail sectors propelled shares higher. At the close in Tokyo, the Nikkei 225 rose 3.25 percent. Advancing stocks outnumbered falling ones by 3088 to 510 and 180 ended unchanged on the Tokyo Stock Exchange. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up 0.58 percent to 26.12. In commodities trading, Crude oil for November delivery was up 0.01 percent or 0.01 to $89.12 a barrel. Meanwhile, Brent oil for delivery in December fell 0.05 percent or 0.05 to hit $94.52 a barrel, while the December Gold Futures contract fell 0.36 percent or 6.10 to trade at $1,670.90 a troy ounce. USD/JPY was up 0.23 percent to 147.55, while EUR/JPY rose 0.08 percent to 144.02. The US Dollar Index Futures was up 0.28 percent at 112.57.
CAC 40 up 0.76pc
France stocks were higher after the close on Thursday, as gains in the Oil & Gas, Utilities, and Basic Materials sectors led shares higher. At the close in Paris, the CAC 40 added 0.76 percent to hit a new 1-month high, while the SBF 120 index climbed 0.78 percent. Rising stocks outnumbered declining ones on the Paris Stock Exchange by 284 to 237 and 106 ended unchanged. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was unchanged by 0.00 percent to 18.96 a new 52-week high. Gold Futures for December delivery was up 0.39 percent or 6.45 to $1,640.65 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December rose 0.46 percent or 0.39 to hit $84.91 a barrel, while the December Brent oil contract rose 0.10 percent or 0.09 to trade at $92.50 a barrel. EUR/USD was unchanged by 0.31 percent to 0.98, while EUR/GBP was unchanged by 0.02 percent to 0.87. The US Dollar Index Futures was down 0.28 percent at 112.57.
European markets close higher
The Stoxx 600 index closed 0.25 percent higher provisionally, with all major bourses in positive territory. Technology stocks led gains with a 2 percent rise, with oil and gas up 1.45 percent. Sterling gained around 0.7 percent against the dollar after Truss’ stunning step down after just 44 days in office, giving her the shortest tenure in British history. Gilt yields initially fell but were later flat on the previous day as speculation began over who would succeed Truss, with a new leader set to be in post in a week. Truss’s package of fiscal policies, announced last month, caused havoc in financial markets due to their mix of tax cuts and higher spending. Shares in Asia-Pacific closed lower on Thursday. On Wall Street, stocks rose as investors weighed several key earnings reports and kept an eye on the bond market, where Treasury yields continued to climb.
Saudi stocks in red
Saudi Arabia’s main stock exchange ended in red on Wednesday, reversing a two-day gain despite a spike in crude oil prices. The Tadawul All Share Index declined 0.13 percent to end at 11,795, while the parallel market Nomu declined 0.83 percent to finish at 19,561. The decline came despite a 0.42 percent rise from Saudi Aramco, and a 3.25 percent gain in Sahara International Petrochemical Co, known as Sipchem. Saudi National Bank, the Kingdom’s largest lender, gained 0.47 percent, while Saudi British Bank shed 0.69 percent. The Kingdom’s most valued bank, Al Rajhi, fell 0.35 percent, while Alinma Bank was down 2.19 percent. Al Gassim Investment Holding Co. jumped 4.98 percent to lead the gainers, followed by Astra Industrial Group with a 4.13 percent gain. Aldawaa Medical Services Co. added 3.67 percent, while its rival Nahdi Medical Co. edged down 1 percent. Despite leading the gainers in Tuesday’s session, Saudi Paper Manufacturing Co. ended the session with a 6.60 percent decline, leading the fallers in the market.