15-07-2024 at 18:54
US Stocks Rise as Powell Acknowledges Inflation Progress

US stocks rose on Monday, with the S&P 500 gaining 0.6% to reach a new record high, the Dow Jones increasing by 200 points, and the Nasdaq rising 0.6%. Fed Chair Powell said that the last three inflation readings add to confidence that inflation is moving toward the 2% target. Investors also reacted to Donald Trump’s increased chances of winning the presidency following an attack, which led to a more than 30% surge in shares of Trump Media & Technology Group. The prospect of a Trump victory benefited oil producers, gun makers, private prisons, and the cryptocurrency sector, with Bitcoin rising as Trump expressed pro-crypto views. Tesla Inc. also saw gains after Elon Musk endorsed Trump. Additionally, the earnings season saw positive results: Goldman Sachs rose 1.3% to a record high of $485 after surpassing earnings and revenue expectations, and BlackRock increased by 0.9% after reporting a rise in assets under management to a record $10.6 trillion.

15-07-2024 at 18:42
Japanese Yen Hits 4-week High

USDJPY decreased to a 4-week low of 157.34. Over the past 4 weeks, US Dollar Japanese Yen lost 0.23%, and in the last 12 months, it increased 13.42%.

15-07-2024 at 18:32
Stryker Hits 7-week Low

Stryker decreased to a 7-week low of 330.17 USD. Over the past 4 weeks, Stryker lost 3.67%, and in the last 12 months, it increased 10.25%.

15-07-2024 at 18:17
Colombia Industrial Output Turns Negative in May

Manufacturing production in Colombia decreased by 3.6% year-on-year in May 2024, retreating from the 4.1% increase in the previous month, marking the fourteenth decline in the last fifteen months. Notably, the sectors contributing most significantly to the downturn were non-metallic mineral production (-12.5%), other food products (-13.7%), vehicles (-60.8%), chemical products (-12%), and dairy products (-11.2%).

15-07-2024 at 18:14
IBEX Closes 1% Down

The IBEX 35 fell by 1% to close at 11,138 on Monday, ending a three-day streak of gains. The decline mirrors the cautious sentiment across European markets following disappointing economic data from China and as traders process the assassination attempt on Donald Trump, which potentially increased his odds of winning the US presidential election. Major Spanish stocks were mostly down, including Inditex (-1.7%), Iberdrola (-1.8%), Santander (-0.9%) and Cellnex (-1.7%), while BBVA (+0.3%) and Aena (+0.3%) bucked the trend with a slight gain. Meanwhile, Grifols (-6.2%) and Solaria (-5%) were among the worst performers.

15-07-2024 at 18:12
The FTSE MIB Index Closes 0.57% Lower

In Milan, the FTSE MIB Index fell 196 points or 0.57 percent on Monday. Leading the losses are Buzzi Unicem (-2.54%), Moncler (-2.26%) and Prysmian (-1.92%). Top gainers were Saipem (1.98%), Leonardo SpA (1.37%) and Tenaris (1.20%).

15-07-2024 at 18:11
The DAX Index Closes 0.77% Lower

In Frankfurt, the DAX Index dropped 144 points or 0.77 percent on Monday. Losses were led by Siemens Energy (-4.94%), RWE (-3.36%) and Fresenius Medical Care (-2.99%). Offsetting the fall, top gainers were Rheinmetall (1.14%), Zalando (0.86%) and Daimler Truck Holding AG (0.29%).

15-07-2024 at 18:10
The CAC 40 Index Closes 1.22% Lower

In Paris, the CAC 40 Index decreased 95 points or 1.22 percent on Monday. Losses were driven by Kering (-5.39%), LVMH (-2.88%) and Eurofins Scientific SE (-2.88%).

15-07-2024 at 18:07
The FTSE 100 Index Closes 0.80% Lower

In London, the FTSE 100 Index fell 66 points or 0.80 percent on Monday. Leading the losses are Burberry (-16.20%), Antofagasta (-3.60%) and Frasers Group (-3.37%). Top gainers were Ashtead (2.45%), Barclays (1.25%) and DS Smith (1.24%).

15-07-2024 at 18:07
DAX Falls from 1-Month High

The DAX fell by 0.8% to 18600 on Monday, pulling back from one-month highs reached on Friday and mirroring the decline seen in other European markets. Disappointing economic data from China, along with negative corporate news and quarterly results, dampened investor sentiment. Market participants were also processing news of an assassination attempt on Donald Trump, which some believe could increase his chances of winning the US presidential election. Siemens Energy posted the largest loss at 5%, followed by RWE's drop of over 3%. Also, Siemens fell by 1.6%, SAP by 0.5%, Allianz by 0.4%, and Deutsche Telekom by 0.2%.

15-07-2024 at 18:01
European Stocks Fall 1%

The Stoxx 50 and Stoxx 600 both experienced a 1% decline on Monday, as investors reacted to negative economic news from China and the aftermath of an assassination attempt on Donald Trump, which may impact the US presidential election. All major sectors and exchanges were in the red, with household goods leading the losses at 2%, followed by utilities at 1.9%. Luxury stocks took a hit, with Burberry shares dropping 16% after disappointing first-quarter results prompted a CEO change and dividend cut. Swatch Group also saw a 9.8% decrease in profits due to a slowdown in Chinese sales.

15-07-2024 at 17:57
FTSE 100 Retreates Sharply

The FTSE 100 extended early losses and closed 0.9% down at 8,183 on Monday, weighed by pessimism for key industries of the London Stock Exchange as markets continued to assess the extent of the disinflationary trend in the US and the UK for hints on future borrowing costs. Burberry sank 16.1% after canceling its dividend payment and changing its CEO in an effort to halt the company’s recent slowdown and underperformance to others in the European luxury sector. In the meantime, heavyweight industrial miners were pressured by a batch of weak economic data from top commodity consumer China, including lower-than-expected GDP growth and retail sales, and declining investment growth and housing prices. Antofagasta, Anglo American, Glencore, and Rio Tinto dropped between 4.5% and 1.2%. UK investors now await the final inflation and jobs data releases due this week before August's monetary policy decision.

15-07-2024 at 17:56
Israel Inflation Rate Accelerates Against Expectations

Israel’s annual inflation rate accelerated to 2.9% in June 2024, from 2.8% in the previous month, against market expectations of remaining unchanged at 2.8%. Prices accelerated for housing (2.9% vs 2.6% in May 2024), education, culture & entertainment (2.7% vs 2.2%) and food including vegetables & fruits (4.6% vs 4.5%), while it deflated slower for clothing & footwear (-3.8% vs -4.5%). In contrast, prices eased for transport & communication (1.9% vs 2.4% in May 2024) and health (2.4% vs 3%). On a monthly basis, consumer prices increased by 0.1%, higher than market forecasts of remaining unchanged, after a 0.2% increase in the previous month.

15-07-2024 at 17:54
CAC 40 Halts 3-Day Winning Streak

The CAC 40 fell 1.2% to 7,633 on Monday, ending a three-day winning streak, amid a cautious mood driven by disappointing economic data from China and the fallout from the assassination attempt on Donald Trump, which allegedly increased his odds of winning the US presidential election. Luxury giants Kering, LVMH, and Hermès were among the biggest decliners, plunging 5.3%, 2.8%, and 2.7% respectively, following a JP Morgan report indicating continued softness in the European luxury sector through Q2/H1, similar to Q1 trends, aligning with a 17-month low in retail sales in China, a key market for luxury goods. Other notable losses included Eurofins Scientific (-2.9%), Pernod Ricard (-2%), and Sanofi (-2%).

15-07-2024 at 17:52
Comcast Hits 5-week High

Comcast increased to a 5-week high of 39.26 USD. Over the past 4 weeks, Comcast gained 5.15%, and in the last 12 months, it decreased 6.79%.

15-07-2024 at 17:47
Colombian Retail Sales Decline for 15th Consecutive Month

Retail sales in Colombia declined by 1.7% year-on-year in May 2024, marking the fifteenth consecutive month of contraction and accelerating from a 1.6% decline in the previous month. This reflects the broader economic slowdown influenced by aggressive interest rate hikes by the Colombian central bank aimed at reducing demand. Sectors contributing significantly to the decline in retail sales included motor vehicle fuels (-3.6%), clothing and textiles (-11.7%), domestic use vehicles (-5.7%), auto spare parts, components, accessories, and lubricants for vehicles (-7%), and hardware, glass, and paint items (-8.7%).

15-07-2024 at 17:32
Colombia Consumer Sentiment Improves Slightly in June

Colombia's consumer confidence index improved by 1.4 points to -12.7 in June 2024, up from -14.1 in the previous month, though it remained negative for the twenty-fourth consecutive month. While current economic conditions improved to -18.7 from -24.8, future expectations deteriorated, with a reading of -8.7 compared to -7 in May.

15-07-2024 at 17:29
Bonds Update: South Africa 10Y Bond Yield Rises by 12 bps

Government bonds are trading lower on Monday. Top gainers are South Africa 10Y (11.50bps), US 10Y (2.90bps) and Canada 10Y (1.20bps). Biggest losers are Greece 10Y (-7.50bps), Switzerland 10Y (-6.70bps) and New Zealand 10Y (-5.79bps).

15-07-2024 at 17:25
Berkshire Hathaway Hits All-time High

Berkshire Hathaway increased to an all-time high of 431.25 USD. Over the past 4 weeks, Berkshire Hathaway gained 5.85%, and in the last 12 months, it increased 25.26%.

15-07-2024 at 17:02
Ukraine Records Record-High Trade Deficit for May

Ukraine's trade deficit widened to USD 2.221 billion in March 2024 from USD 1.910 million in the same period of 2023, the largest trade gap for the period on record, as the Russian invasion of Ukraine continued to alter the country’s trade balance. Imports soared 10.8% from the earlier year to USD 5.602 billion, lifted by a 17.6% jump in mineral products (17.6%) and cars and electrically engineered equipment (43%). In the meantime, imports rose by 7.5% annually to USD 3.381 billion, with a significant increase in grains (34.3%) offsetting a drop in metals (-11.8%).

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