Ongoing reporting from the world’s leading markets: important updates, prominent stocks, bonds and analyst updates
21:35 – WTI oil closed down 2.6% to $ 107.7 a barrel.
20:55 – Gold climbed 0.7% today to $ 13.6 and the price of the precious metal closed at $ 1,935.9 an ounce.
20:30 – Citigroup shares are down 3.3%, despite much more moderate declines in other bank shares.
The bank has been downgraded by two institutional investors, due to a disappointing forecast issued in the medium term.
19:35 – Europe’s leading indices closed today with sharp declines amid continued fighting between Russia and Ukraine.
The London Potassium Index erased 2.6% from its value, the Dax in Frankfurt weakened by 2.2% and the Paris CAC retreated by 1.8%.
17:50 – New York stock exchanges erase opening gains – NASDAQ loses 1.1%, S&P 500 falls 0.4% and Dow Jones weak 0.2%.
16:30 – Trading on Wall Street opened up, with a slight pause after the declines recorded in recent days in the shadow of the war between Russia and Ukraine.
The Dow Jones is up 0.7%, the S&P 500 is up 0.5% and the Nasdaq is up 0.4%.
14:30- Very light movements on Wall Street contracts: Nasdaq contracts down 0.2%, S&P 500 down 0.1% and Dow Jones almost motionless; Early update).
In oil – Brent is up just 1.4% to $ 114.5 a barrel (approaching $ 119 earlier today), the WTI is up 1.5% to $ 112.3 a barrel; Gold rose 0.7 percent to $ 1,935.70 an ounce; In Europe the DAX is down 0.8%, Potsey is down 0.7%, the cock is stable.
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(Photo: Reuters)
14:15 – Best Buy concludes its fourth fiscal quarter with an accounting profit of $ 2.62 per share, compared to $ 3.10 per share in the corresponding quarter. Adjusted earnings were $ 2.73 per share, one cent above analysts’ expectations. Revenue was $ 16.37 billion, compared to $ 16.94 billion in the same quarter last year and when expectations were $ 16.60 billion. Identity store sales fell 2.3% – analysts expected a more moderate decline, of 0.9%. The stock is trading at a moderate pre-trade decline.
The disappointing forecast released by the U.S. retailer for the current year stands at adjusted earnings of $ 9.15-8.85 per share, annual revenue of $ 50.8-49.3 billion and a 1% -4% decline in same-store sales. Analysts’ expectations for the fiscal year are for higher earnings, at $ 9.29 per share; For larger revenues, of $ 50.9 billion per share; For a 1.4% drop in identity sales.
13:20 – Published last night’s results after closing (see this morning’s update on Snowflake, which falls 21.9% pre-closing):
American Eagle loses 7.2% in the pre-season, after in parallel with the publication of the reports the company stated that the large cost of the supply chain (and especially transport prices) is expected to hurt profitability in the first half of the year.
The American fashion chain posted earnings of $ 50.4 million or 25 cents a share in the fourth fiscal quarter, compared to $ 3.5 million or 2 cents a share in the same quarter last year. Adjusted earnings were 35 cents a share, 5 cents above average analyst expectations.
Revenue grew 17% to $ 1.51 billion, according to forecasts. American Eagle brand sales rose 11% to $ 1.04 billion; Aerie brand sales rose 27% to $ 428 million.
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(Photo: Shatterstock)
Victoria’s Secret rose 0.7% pre-quarter: The company ended the fourth fiscal quarter with earnings of $ 246.1 million or $ 2.70 per share – analysts expected lower earnings, of $ 2.63 per share. In the same quarter last year, Victoria’s posted earnings of $ 82.4 million or $ 3.20 per share in the same quarter. Revenue for the reporting quarter was up 4% compared to the same quarter last year and totaled $ 2.2 billion – expectations were $ 2.1 billion.
The disappointing part came in the company’s forecast for the current quarter (first fiscal), which stands at revenue of $ 1.495-1.425 billion and earnings of $ 95-70 per share. Analysts expect revenue of $ 1.5 billion and earnings of $ 1.32 per share.
13:00 – The London Stock Exchange concludes 2021 with a jump in pre-tax profit to £ 987 million, compared to £ 492 million in 2020. Adjusted annual EBITDA rose 8.3% to £ 3.23 billion – revenue was £ 6.81 billion, compared to £ 6.77 billion the previous year.
12:50 – Diagio joins the boycott. The international alcohol giant (headquartered in London) has announced that it has stopped exporting to Russia – and at this point due to the fighting also exporting to Ukraine. Among Diageo’s best-known brands: Vodka Smirnoff, Jenny Walker, Whiskey, Ginny Beer S. and Liqueur Bayliss.
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(Photo: Reuters)
12:00 – Polimetall is down 28%, ahead of parting with the Potassium 100 index, following the rapid decline in value. The British metal company Russian (with mines in Russia and Ukraine), which has plunged by tens of percent since the Russian invasion of Ukraine and the sanctions that came in response, will move to the secondary Potsey 250 index next week.
11:10 – Closing in Asia: Nikkei was up 0.7%, Hang Seng was up 0.6%, Kusfi was up 1.6% and Shanghai was down 0.1%.
11:05 – The rating agency Fitch downgraded Russia’s debt rating from BBB level to level B and put the rating on a watch list with a negative outlook.
10:40 – Opening in Europe: Dax down 0.3%, Potsy down 0.2%, steady kak – another day of downtime on the Moscow Stock Exchange, which has not opened since the sanctions imposed over the weekend. Brent is up 5% to $ 118.3 a barrel, while WTI is up 4.7 percent to $ 115.8 a barrel.
Sharp rises in commodities in London: Glencore jumps 5%, Anglo American climbs 4.2%, Rio Tinto 3.5%, Antofagasta 3.3%; After the reports: Telecom Italy falls by 11.3%, Lufthansa falls by 3.5%, Taylor Wimpy rises by 1.8%, Mark weakens by 0.9%.
10:10 – British construction company Taylor Wimpey posted a pre-tax profit of £ 679.6 million in 2021, compared to £ 264.4 million the year before. Revenue jumped to £ 4.28 billion, compared to £ 2.79 billion in 2020. The company has announced a £ 150 million self-acquisition plan.
10:00 – The write-off of one-time assets led Telecom Italy to a quarterly loss: the company posted a loss of 8.64 billion euros in the fourth quarter, compared to a profit of 6.05 billion euros in the corresponding quarter in 2020. Adjusted EBITDA decreased to 731 million euros, compared to 1.62 billion euros in the corresponding quarter. Revenue fell to 3.98 billion euros, compared to 4.15 billion euros in the last quarter of 2020.
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Telecom Italy
(Photo: Bloomberg)
9:30 – And H&M joins boycott: Swedish fashion giant Hennes & Mauritz closes all its stores in Russia – the sixth largest chain in the world: “We are deeply concerned about the events in Ukraine and stand by all the suffering people. The group has decided to temporarily close all operations in Russia.” The company said.
Russian operations account for 3.6% of the chain’s sales, which operate 170 stores in the country (out of about 4,800 stores worldwide). So the decision will probably have implications for H & M’s financial results.
9:00 – Lufthansa concludes the fourth quarter with a loss of 314 million euros, compared to a loss of 1.14 billion euros in the corresponding quarter in 2020. The operating loss was reduced to 271 million euros, compared to an operating loss of 1.29 billion euros in the corresponding quarter. Revenue jumped to 5.83 billion euros, compared to 2.59 billion euros in the same quarter last year.
The good news: The German airline expects a sharp rise in occupancy levels in 2022, to more than 70% of the levels that preceded the epidemic, in 2019 – and spring and summer bookings have almost reached pre-epidemic levels.
The bad news: The war in Russia raises uncertainty to the point that it is unable to provide investors with a detailed forecast with 2020 targets, beyond the expectation of improved operating profit and cash flow.
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(Photo: Wikimedia)
8:40 – German pharma giant Merck KGaA concludes a year – after 3 forecast increases during 2021. The company recorded a pre-annual profit of € 3.07 billion in 2021, compared to € 1.99 billion in 2020.
Sales climbed to 19.69 billion euros, compared to 17.53 billion euros the previous year. Adjusted EBITDA was € 6.10 billion, compared to € 5.20 billion in 2020. Mark jumped the annual dividend, from 0.45 to 1.85 euros
8:00 – Some Ukrainian affairs. According to a Reuters report, the Central Bank of Russia has announced a 30% commission on all foreign currency purchases by private entities. The report relies on sources in the Russian market. There is no known official announcement from the bank, which has already taken some drastic action to protect the ruble, including a hysterical jump in interest rates from 9.5% to 20%.
Toyota, Honda and Mazda have announced a halt to exports to Russia until further notice. The case of Toyota is the most significant, as it is the best-selling Japanese brand in Russia. Under sanctions imposed on Russia, Toyota even halted production at its St. Petersburg plant, which produces about 80,000 cars a year and employs 2,000 people.
The World Bank has announced that it is freezing all its plans in Russia and Belarus, immediately, following what it called “Russia’s hostile activity against Ukraine”.
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Bank of Russia
(Getty)
7:10 – Snoopy fell 22% in late trading, mainly due to a decline in growth rate. The company reported a nearly 100% increase in annual product revenue to $ 1.14 billion, compared to $ 554 million. At the same time, in the current year the increase is expected to be about 70%.
The cloud data storage company ended the fourth fiscal quarter with a loss of $ 132.2 million or 43 cents a share, compared to a loss of $ 198.9 million or 70 cents a share in the same quarter last year. Analysts had expected a loss of 50 cents a share.
Revenue for the quarter (which ended at the end of January) rose to $ 383.8 million, compared to revenue of $ 190.5 million in the corresponding quarter and when other expectations stood at $ 372.7 million. Snoplik reported 5,944 customers at the end of the quarter, compared to 4,139 at the end of the corresponding quarter – 184 of the customers. Have spent over a million dollars in the last 12 months.
7:00 – The positive mood is also rolling in the stock markets in Asia this morning, after the strong gains in New York (the Dow Jones jumped 1.8%, the S&P 500 jumped 1.9%, and the Nasdaq rose 1.6%). 0.8%, Hang Seng is up 0.5%, Shanghai is up 0.1% and Kospi is up 1.5%.
Oil continues to break records, albeit at a more moderate rate of increase: Brent is up 3.7% to $ 117.1 a barrel, WTI is up 3.2% to $ 114.2 a barrel.
Japanese banks are recovering from the declines of recent days: Mitsubishi Financial is up 4%, Sumitomo is up 3.5% and Mitsu is up 3%; In Seoul: Samsung is up 1.5% and LG is up 2.8%; Cathay Pacific is up 2.4% in Seoul.
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Mitsubishi Finals
(Getty)