Central bank official rates of banking metals as of November 1
One troy ounce=31.10 grams
Stock indices of Western European countries are growing steadily at the beginning of trading on Tuesday after the release of quarterly reports of companies.
Investors are also waiting for the results of the US Federal Reserve and Bank of England meetings this week. Market participants hope that central banks will signal a slowdown in monetary tightening, writes Trading Economics.
The composite index of the largest companies in the Stoxx Europe 600 region rose by 1.26% by 11:00 a.m. to 417.4 points.
The British stock index FTSE 100 grows by 1.48%, the German DAX – by 1.02%, the French CAC 40 – by 1.74%. The Italian FTSE MIB and the Spanish IBEX 35 added 1.64% and 1.07% respectively.
British oil and gas company BP Plc (SPB: BP) in the third quarter increased its profit by 2.5 times in annual terms, announced a $2.5 billion buyback program for its shares. BP shares are rising by 0.5% at the beginning of the session.
Shares of British IT company Osirium Technologies jumped 30% after it reported growth in its customer base and revenue in the past quarter.
Shares of British online supermarket owner Ocado Group jumped 30% on news of a partnership with South Korea’s Lotte Shopping Co. As part of the agreement, Lotte will develop its online business on the Ocado platform.
The value of the Naspers Ltd. holding, which owns various Internet assets, rises by 7%. The company said that media reports about the sale of its stake in China’s Tencent (SPB: 700) Holdings Ltd. are speculative and false.
British automaker Aston Martin Lagonda Global has appointed two members of Saudi Arabia’s Public Investment Fund as directors on its Supervisory Board. Aston Martin Lagonda shares are up 3%.
Switzerland-based IWG, which provides office space rental services, increased revenue by 34% in July-September amid strong demand for offices due to the adoption of a hybrid mode of operation. Paper IWG nevertheless become cheaper by 1.7%.
Among the Stoxx 600 components, Ocado was the top performer, along with German food delivery service Delivery Hero SE (+9.1%) and Dutch Prosus N.V. (+7.6%), which is the parent company of Naspers.
PJSC “Ukrainian Mining and Metallurgical Company” (UMMC, Kyiv), one of the largest metal service companies in Ukraine, according to the results of work in 2021, reduced its net loss by 12.1 times compared to the previous year – to UAH 13.956 million from UAH 169.219 million.
As reported in the company’s announcement of holding the annual general meeting of shareholders remotely on December 1, its outstanding loss by the end of last year amounted to UAH 364.488 million.
Shareholders intend to make a decision to cover the loss at the expense of deferred profit.
The meeting also plans to approve major deals.
UMMC was established in 1998. It occupies a leading position among Ukrainian metal traders in sales of rolled metal products and pipes.
According to NDU data for the fourth quarter of 2021, Lanacomo Limited and Leadpoint Holding (both Cyprus) own 50% of UMMC shares.
The authorized capital of UMMC is UAH 22.028 million, the par value of a share is UAH 1.
National bank of Ukraine’s official rates as of 01/11/22
Source: National Bank of Ukraine
Stock indexes in Asia are rising during trading on Tuesday, including due to good quarterly reports of companies.
Investors’ attention this week is focused on the meeting of the Federal Reserve, which, as most analysts expect, will once again raise the base rate by 0.75 percentage points (pp). Then its range will be 3.75-4% per annum.
Meanwhile, the Reserve Bank of Australia (RBA) raised its key interest rate by 0.25 percentage points on Tuesday. – up to 2.85% per annum. This coincided with the forecast of most analysts, according to Trading Economics.
The Central Bank raised the rate for the seventh time in a row. It is currently at its highest since April 2013. At the same time, RBA management does not exclude its further rise to curb inflation, which remains at a high level.
The Australian S&P/ASX 200 rose 1.65% on Tuesday.
Share prices of the world’s largest mining companies BHP and Rio Tinto rose by 2.8% and 2.6%, respectively.
In addition, shares of all four largest banks in the country rose in price: Commonwealth Bank – by 1.3%, ANZ Bank – by 1.6%, Westpac Banking and National Australia Bank – by 0.9%.
The value of the Japanese index Nikkei 225 to 8:31 CSK increased by 0.2%.
The stock prices of Japan Tobacco Inc. have risen most significantly. (+9.1%), NTN Corp. (+6.4%) and Panasonic (+6%).
In addition, the value of such large companies as SoftBank Group (+3.2%), Sony Group (+0.7%), Fast Retailing (+0.1%) is growing.
At the same time, the share price of Toyota Motor falls by 2.2%. The automaker in July-September reduced its net profit by 31%, while it turned out to be worse than expected.
The Chinese Shanghai Composite index increased by 1% by 8:36 am CSK. The Hong Kong Hang Seng soared 3.4% after hitting a 13.5-year low a day earlier.
The leading gainers on the Hong Kong stock exchange are China Resources Beer (+9.2%), Internet company Meituan (+8.9%), Sino Biopharmaceutical (+8.4%), and chipmaker Sunny Optical Technology Group. Co. (+8.2%).
In addition, Tencent Holdings Ltd. rose by 7.2%, retailers Alibaba Group and JD.com Inc. – respectively by 5.3% and 5.1%.
AIA Group Ltd., one of the largest Asian insurers, increased the value of new business (the volume of contracts sold) in July-September by 1%. Quotes of the company’s papers jumped by 5.9%.
The South Korean index Kospi by 8:28 KSK added 1.4%.
Quotes of securities of one of the world’s largest manufacturers of chips and electronics Samsung Electronics Co. rise by 0.7%, while the cost of automaker Hyundai Motor decreased by 0.6%.
Oil prices are rising during trading on Tuesday after falling in the previous session.
The cost of January futures for Brent oil on the London ICE Futures exchange by 8:06 am TSK on Tuesday is $93.57 per barrel, which is $0.76 (0.82%) higher than the closing price of the previous session. As a result of trading on Monday, these contracts fell by $0.96 (1%) to $92.81 per barrel.
The price of futures for WTI oil for December in electronic trading on the New York Mercantile Exchange (NYMEX) rose by this time by $0.59 (0.68%), to $87.12 per barrel. By the close of previous trading, the value of these contracts fell by $1.37 (1.6%) to $86.53 per barrel.
Traders are also waiting for meetings of large central banks, writes Bloomberg.
The US Federal Reserve System (FRS) will sum up the results of a two-day meeting on Wednesday against the backdrop of persistently high inflation in the States. On Thursday, the decision on the key rate will be made by the Bank of England.
Support for oil comes from the weakening dollar, which makes commodity prices more attractive to investors.
Meanwhile, the OPEC annual review says that the annual growth in oil demand in the world until 2025 will average 2.1 million b / d, in the next 10 years it will slow down and stabilize by 2035.
According to the report, in 2022, global oil consumption will rise to 100.3 million b/d after 96.9 million b/d in 2021. Further, demand will increase significantly from year to year until 2025: by an average of 2.1 million bpd.
The total oil production quota of the OPEC+ countries has been reduced by 2 million barrels per day since November compared to August levels (coincides with October quotas – IF).
The decision was made by the alliance at a meeting held on October 5, which was held in person for the first time in more than two years.
