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Wednesday, December 07, 2022

Stock market, fall and rise in oil due to possible cut in production

Stock market, fall and rise in oil due to possible cut in production

According to futures, an hour after opening, the European stock markets can open this Monday with a cut of more than 1 percent. Negative sentiment remains in the market due to fears that central banks will continue to raise interest rates until inflation is controlled, something that increases the risk of a recession.

Today we add the rise in oil prices to the indication that, this Wednesday, OPEC+ Will cut production by more than 1 million barrels per day to revive prices. Those moves increase the risk of over-inflation that could prompt central banks to take more aggressive policy action.

Investors will follow this Monday, properties associated with it Brazil After the election result which will lead to the second round on 30th October.

focus on manufacturing activity data September, which could go down, and in the United States during the week – Friday employment figures will be important There will also be monetary policy meetings of the Australian and New Zealand central bank for more clues on the Fed’s rate hike trajectory that could raise interest rates.

in japan, heyConfidence among large manufacturers, as captured by the Tankan Index, unexpectedly deteriorated for three consecutive quarters following a sharp depreciation of the yen and a deteriorating global economic outlook.

business hero

Credit Suisse, critical situation

Its CEO of Credit Suisse, Ulrich Körner, who took over the reins of the bank in June, acknowledges that the bank is going through a difficult period. sensitive situation But also that the bank has a solid capital and liquidity base. Koerner has asked investors to submit a change of course for less than 100 days, but market conditions make it seem too long.

And you can see that the cost of insuring Credit Suisse’s bonds, CDS, against default, rose 15% last week to levels not seen since 2009.

He is due to present a strategic review on October 27. The market anticipates a potential capital increase of around 4,000 million Swiss francs, a radical change in its investment banking, as well as asset sales and layoffs. Its shares are down more than 55% so far this year.

What it announced this morning is that it is postponing the scheduled capital increase Credit Suisse Real Estate Fund Green Property And it was announced for the fourth quarter. Excuse me, the market environment has become very bad.

Italian Eni says it will not receive the requested Russian gas for this Monday

Italian Eni, the biggest importer of Russian gas to Italy, said this Sunday it would not get the gas it asked for from Russian supplier Gazprom for Monday.

He has also expressed hope that the situation will remain like this till tomorrow, October 4.

The energy minister said the country would be able to winter with current gas flow and storage levels barring “catastrophic events”.

RWE buys a renewable energy company in the United States

Germany’s largest energy producer, RWE buys US-based Con Edison’s clean energy business for $6.8 billion, nearly doubling RWE’s renewable portfolio in the US.

To finance, in part, the purchase, RWE will issue a convertible bond worth over $2,400 million that will be subscribed by the Qatar Investment Authority. With this operation, Qatar will become a 9.1% shareholder of RWE.

other

-oyster Announced its second oil and gas investment in Malaysia in a month. It aims to reactivate production in a global supply environment.

-US investor Franklin Resources controls a 5.7% voting stake in the Swiss temporary agency adeco group

-Ebro Foods Distributes a 2021 interim dividend of EUR 0.19 gross per share

-Naturehouse Health Distributes a 2022 interim dividend of EUR 0.10 gross per share

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