Ongoing reporting from the world’s leading markets: important updates, prominent stocks, bonds and analyst updates
23:00 – The New York Stock Exchanges ended the day with sharp rises, amid falling commodity prices and investors’ hopes for progress towards a ceasefire between Russia and Ukraine.
The S&P 500 jumped 2.6% on its best day since June 2020, NASDAQ jumped 3.6% and Dow Jones strengthened 2%.
22:20 – Oil prices fell more than 12% today, after the UAE called on OPEC exporters to increase their oil output to moderate the jump in prices.
WTI oil fell 12.1% to $ 108.7 a barrel, Brent crude wiped out 13% of its value and closed at $ 111.1 a barrel.
Earlier the gold closed below $ 2,000 an ounce, in its first decline after four days of gains. Contracts for the precious metal were down 2.7% to $ 55.1 and the gold price was set at $ 1,988.2 an ounce.
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Gold and silver ingots
20:50 – The dollar is falling, in line with falling commodity prices as investors’ appetite for stock markets increases – which are considered less stable investments in times of risk and in general.
The euro jumped 1.6% against the US currency and the pair traded at $ 1.107 per euro.
This is a reversal of a trend, as in recent days stock market declines have stood out alongside a jump in commodity and asset prices that are considered safer, due to the uncertainty that Russia’s fighting in Ukraine is provoking.
19:50 – The drop in oil prices is abruptly increasing: WTI oil is down 10.8% to $ 110.3 a barrel, and Brent crude is down 11.6% to $ 113.3 a barrel.
The UAE is the first company in the OPEC oil exporters’ organization to call for increased production, as the Russian invasion of Ukraine led to a surge in oil prices to a peak of more than a decade.
Youssef al-Otaiba, the ambassador to the United Arab Emirates in Washington, told the Financial Times, “We support increasing production and we will encourage OPEC to consider higher production levels.”
The Biden administration has in recent weeks tried to pressure oil producers to increase output to help reduce soaring oil prices. But the OPEC + union, which includes OPEC and other allies, including Russia, has so far refused to exceed the agreed increase of 400,000 barrels per day until the end of 2022.
The UAE is in close relations with Saudi Arabia, which is the de facto leader of OPEC, which has so far refused the US request to increase output.
In a statement to the Financial Times, Al-Utyeva said, “The UAE has been a reliable and responsible supplier of energy to international markets for more than 50 years, and believes that stability in energy markets is vital to the global economy.”
A survey by S&P today showed that the oil exporters that are members of the OPEC + group showed in February the sharpest increase in oil production in the last seven months, according to the OilPrice website.
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Oil drilling
(Photo: AP)
18:55 – European stock markets closed in dark green: Dax jumped 7.9%, Kak jumped 7.1% and Potsey rose 3.4%.
Car stocks led the gains – Aston Martin jumped 13.9%, Stanaltis jumped 12.3%, Renault added 11.1%, Volkswagen up 10.1%, BMW climbed 6.9%, Daimler up 6.3% %, Volvo added 4.3%.
17:10 – Rises in European markets are rising: the Dax index in Frankfurt jumps by 6.2%, the CAC in Paris jumps by 5.6% and the London Pottery adds 2.2%.
16:30 – Trading in New York opened in a positive trend, with investors optimistic against the background of the partial ceasefire between Russia and Ukraine and ahead of the talks that will begin tomorrow between the parties.
The Dow Jones industrial average is up 1.7%, the S&P 500 is up 1.9% and Nasdaq is up 2.2%.
The fall in oil prices is intensifying and the two main types of oil are losing 4.9% of their value. Brent is trading at $ 121.7 a barrel and WTI is trading at $ 117.7 a barrel.
Gold weakened 2.3 percent to $ 1,994 a barrel.
Zim shares are up 6.6% after the reports.
14:40 – ZIM sums up a tremendous year: The sharp rise in global transportation prices jumped profits by 787% to $ 4.65 billion in 2021, compared to $ 524 million in 2020. Net income in the fourth quarter soared to $ 1.71 billion, compared to just $ 366 million in the same quarter last year – an increase of 366%.
The average transport price per container in 2021 was $ 2,786, an increase of 127% compared to the year before. And the average climbed to $ 3,630 in the fourth quarter, a jump of 139% compared to the year before.
Zim’s annual revenue totaled $ 10.73 billion, an increase of 169% compared to 2020. Revenue in the fourth quarter grew to $ 3.47 billion, a growth of 155% compared to the corresponding quarter. The stock is up 8.7% pre-stock.
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14:40 – Towards the opening of trading in New York: NASDAQ contracts up 2%, Dow Jones contracts up 1.5% and S&P 500 up 1.6%; 10-year US bond yields up 4% Base point to 1.90%.
In oil – Brent is down 2.5% to $ 124.8 a barrel, WTI is down 2.9% to $ 120.1 a barrel; Gold is down $ 0.9 to $ 2,025 an ounce; In Europe: Dax is up 5%, Kak is up 4.5% and Potsey is up 1.6%.
14:00 – General Electric announced yesterday after closing a new self-purchase plan, amounting to $ 3 billion (about 3.1% of the market value of the shares, according to the closing value yesterday, $ 96.9 billion). The stock is up 1.2% pre-stock.
13:50 – In pre-technology: Apple is up 2%, Tesla is up 2.3%, Amazon is up 2.4%, Alphabet is up 2.1%, Meta is up 2.2%, NVIDIA is up 3.7%, Intel is up 1.5%.
13:45 – And in pre-flight: American Airlines rose 3.9%, United climbed 4.5%, Delta 3.1%, Southwest 2.9%.
13:40 – In pre-US banks: JPMorgan and Bank of America are up 2.4%, Wells Fargo is up 1.5%, Goldman Sachs is up 1.8%, Citigroup is up 2.7%, Morgan Stanley is up 2.9%.
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Bank of America Manhattan
(Photo: Shay Salins)
12:10 – Leading Paris: Renault and Societe Generale up 9.2%, Elstom up 9.1%, BNP up 9%.
11:25 – Polymetal Gold Mining Company clarifies that EU sanctions against Russia should not apply to it, as it is not held and does not act on behalf of anyone connected with Russia. The stock is responding with a 26% jump.
11:10 – Closing in Asia: Nikkei was down 0.3%, Hang Seng was down 0.7%, Shanghai and Kospi were down 1.1%.
11:00 – Against the background of today’s rises in Europe, according to analysts, the readiness expressed by Ukrainian President Zlansky to discuss with the Russians their demands for the independence of the provinces in the east of the country (Donetsk and Lugansky) and his statement that he “cooled down on the NATO membership question. Representatives of Ukraine and Russia are expected to meet tomorrow in Turkey, in another attempt to move towards a diplomatic solution.
“Although the outline of the end of the war has become possible, it does not necessarily mean that the recovery will stop sometime soon,” says Arne Petimezas, a senior analyst at AFS Group.
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President of Ukraine Volodymyr Zlansky
(Photo: AFP)
10:40 – Sharp rating downgraded to Russia, by 6 levels at once, from B to C – one notch above D, reflecting insolvency in government bonds. Just a week ago, on March 2, rating agency Fitch downgraded Of Russia to B, a level that put the country’s debt into the category of junk bonds. In an announcement today, Fitch notes that the updated rating reflects its position that Russian debt is very close to a state of insolvency.
Pitch further said that “further expansion of sanctions and a proposal on the chapter to restrict energy trade, raises the likelihood of a Russian response that includes at least a selective avoidance of repaying part of its government debt.”
10:40 – Sharp gains at the start of the day in Europe: the DAX is up 3.9%, the Kak is up 3.6% and Potsey is up 1.7%; The climb in commodities is moderating: in oil – Brent is up 1.3% to $ 129.6 a barrel; Gold rose 0.5 percent to $ 2,053 an ounce.
Bright green in banks: Deutsche Bank up 5.4%, BNP up 7.6%, Barclays and Credit Suisse up 4.5%, Lloyds up 5.2%, Banko Santander up 4%; In aviation: EasyJet jumps 9.2%, IAG climbs 7.8%, Lufthansa 9.5%, Air France 5.3%.
After the reports in Frankfurt – Adidas and Deutsche Post rise by 6.3% each; contracts on the New York indices rise by about 1%, the 10-year US bond yield is stable at 1.87%.
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9:50 – The oil-gas company Tullow Oil concludes 2021 with a pre-tax profit of $ 202.7 million, compared to a pre-tax loss of $ 1.27 billion in 2020. The company posted an annual operating profit of $ 514.5 million, compared to an annual operating loss of $ 1.02 billion in 2020. On the bottom line, Tolo reduced its net loss to $ 80.7 million, compared to a loss of $ 1.22 billion the previous year.
9:30 – Deutsche Post reports 22% growth in revenue to 23.38 billion euros, along with a 13% increase in operating profit to 2.21 billion euros. The logistics and shipping giant from Germany expects to post an operating profit of about 8 billion euros in 2022 – plus or minus 5%.
9:00 – Adidas seals a fourth quarter with a 3% drop in sales to 5.14 billion euros – operating profit was only 66 million euros, compared to 225 million euros in the corresponding quarter. Analysts expected quarterly revenues of 5.22 billion euros and operating profit of 118 million euros. At the end of 2021, Adidas is recording a 16% growth in revenue to 21.23 billion euros.
The company’s forecast for 2022 is for an 11% -13% increase in revenue, including a damage of about 250 million euros from the war in Ukraine. Sales in China, which fell by 24% in the fourth quarter, are expected to return to a 5% increase during the current year.
7:15 – Cathay Pacific ends 2021 with a loss of Hong Kong $ 5.53 billion (US $ 707.3 million), compared to a loss of HK $ 21.65 billion in 2020. The loss was lower than forecast – the market expected a loss of HK $ 8.47 billion; Hong Kong Airport posted a loss of HK $ 7.6 billion in the first half of 2021, but ended the second half with a profit of HK $ 3.3 billion.
Cathay Pacific led an additional 717,059 during the reporting year, up from 4.6 million in 2020 and 35.2 million in 2019, the year before Corona. Annual revenue from the cargo division grew 32% to HK $ 32.28 billion. Despite the growth in cargo, it is still only about 20% of the annual revenue that preceded the epidemic in this division. Kathai Pacific has stated that the stringent restrictions in China will continue to have a significant impact on its business in the current year.
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(Photo: Twitter / Cathay Pacific)
6:50 – A mixed trend in the Asian stock markets this morning, with a sharp decline in Hong Kong – after the volatile trading day that ended with declines last night on Wall Street (NASDAQ lost 0.3%, Dow Jones fell 0.6% and S&P 500 fell 0.7%).
The Hang Seng Index is down 2.2%, Shanghai and Kospi are down 1.1%, while the Nikkei is up 0.3%; Brent prices are up 2.6% to $ 131.3 a barrel, WTI is up 2.1% to $ 126.3 a barrel; Gold is up 1.1% at $ 2,065 an ounce.
Among the most notable declines in Hong Kong: PetroChina and Tencent are down 3% each, Alibaba is down 3.8%, Maitouan is down 2.8%; Tokyo: Softbank is up 4.8%, Mitsubishi Finance is up 3%, Toyota and Mazda Rising 2.2% – Isuzu leads the Nikkei index with a jump of 8.4%.
GDP data in Japan have been revised downwards: The third largest economy in the world expanded by 4.6% in the fourth quarter at an annual rate, after the initial figure stood at 5.4%. On a quarterly basis, GDP rose by 1.1%, compared with a preliminary figure of 1.3%; In China, the consumer price index rose by 0.9% at an annual rate, similar to forecasts – the price index for a pilot manufacturer by 8.8%, compared with forecasts for an annual increase of 8.7%.
Contracts on Wall Street indices are up 0.3%, and 10-year US bond yields are down 2 basis points to 1.85%.
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Tokyo Stock Exchange
(Photo: Bloomberg)