Consumer prices (HICP index) in the euro area in September increased by 10% in annual terms, according to preliminary data from the Statistical Office of the European Union.
Thus, inflation accelerated compared to 9.1% in August and updated the maximum since the beginning of the calculations.
Analysts polled by Trading Economics had expected a less significant increase of 9.7%.
The current inflation rate is five times the European Central Bank’s (ECB’s) target of 2%.
Consumer prices excluding food and energy increased by 4.8% in annual terms in September compared to 4.3% in the previous month.
The cost of energy resources soared by 40.8% (in August – by 38.6%). Food, alcohol and tobacco rose in price by 11.8% (by 10.6%), industrial goods – by 5.6% (by 5.1%), services – by 4.3% (by 3.8%) .
Consumer prices excluding food and energy (CPI Core index) this month increased by 4.8% in annual terms against 4.3% in August.
The growth of consumer prices in the euro area in September amounted to 1.2% compared to the previous month. In August, this figure increased by 0.6%.
The lowest inflation was recorded in France (6.2% in annual terms), Malta (7.3%), Finland (8.4%) and Ireland (8.6%). The most significant rise in prices occurred in Estonia (24.2%), Latvia (22.4%) and Lithuania (22.5%).
The stock market of Western Europe is actively rising on Friday, recovering from falling to the lowest level in more than two years, but still ends the next quarter with a decline.
The composite index of the largest companies in the Stoxx Europe 600 region jumped by 1.19% by 11:26 a.m. to 387.42 points. Growth leaders among industry sub-indexes are retailers, oil and gas companies and banks.
The index is down about 5% since the beginning of the third quarter and could end in the red for the third quarter in a row.
The British stock index FTSE 100 during trading on Friday rose by 0.91%, the German DAX – by 1.22%, the French CAC 40 – by 1.21%. The Italian FTSE MIB and the Spanish IBEX 35 added 1.5% and 1.2% respectively.
Investors evaluate a large array of statistical data from various European countries.
Thus, the UK economy in the second quarter of 2022 grew by 0.2% compared to the previous three months, according to the final data from the National Statistics Office (ONS). A 0.1% decline in GDP was previously reported, and analysts generally did not expect a revision of the data.
Consumer prices in France, harmonized with the standards of the European Union, in September increased by 6.2% in annual terms after rising by 6.6% in August, although experts expected inflation to accelerate to 6.7%.
Meanwhile, consumer spending in France was unchanged in August from the previous month. The average forecast of experts assumed a decline of 0.1%, according to Trading Economics.
In addition, on Friday it became known that the number of unemployed in Germany in September increased by 14 thousand, increasing for the fourth month in a row, but unemployment was expected to remain at 5.5%.
In Italy, unemployment in August unexpectedly fell to 7.8% from 7.9% in July, although analysts did not expect a change in the rate.
Aston Martin stock quotes are up 3.9% during trading on Friday on news that China’s Zhejiang Geely Holding Group Co. bought a 7.6% stake in the British sports car manufacturer.
Sportswear makers Puma and Adidas are down 5.4% and 3.9%, respectively, after U.S. rival Nike Inc. the day before, he reported on the reduction of quarterly profit and noted the impact of negative factors on profitability.
Capitalization of Italian construction company Webuild rose 2.2% on a strong full-year outlook.
On September 29, 2022, the National Bank of Ukraine applied to PJSC Ukrainian Industrial Insurance Company and ALC Nadiya Insurance Company (both Kyiv) measures in the form of license cancellation, according to the website of the regulator.
The reason for this decision was the repeated violation of license conditions and once again failure to provide information at the request of the regulator. Namely, observance of mandatory monetary standards, overdue obligations under concluded insurance contracts, cases of violation of the deadlines for the settlement of declared events that have signs of insurance (the composition of the reserve for claimed but not paid losses).
“Consequently, for a long time after the start of the Russian aggression, insurers did not take measures to establish operational activities and accounting. This makes it impossible to carry out full-fledged insurance activities,” the report says.
Decisions to cancel licenses come into force on September 30, 2022.
As reported on August 12, 2022, a measure of influence was applied to these insurers in the form of a temporary suspension of licenses.
Insurers, to which the National Bank has applied enforcement measures, operate in the non-life segment.
PJSC “Ukrainian Industrial Insurance Company” does not provide reports to the National Bank, starting from the reporting for 2021.
ALC IC “Nadiya” does not provide reporting, starting with the reporting for the 1st quarter of 2022.
Based on the results of 2021, IC Nadiya received UAH 3 million in insurance premiums and made UAH 3.1 million in insurance payments. At the same time, the company did not enter into insurance contracts with individuals. The company’s market share based on the results of 2021 is 0.006%. The insurer informed the National Bank of the temporary cessation of insurance activities after the start of the military aggression of the Russian Federation.
The Motor (Transport) Insurance Bureau of Ukraine (MTIBU) introduces new tariffs for Green Card policies for those traveling abroad from October 3, 2022, according to the Bureau’s website.
According to the report, the MTIBU recalculated the cost of “Green Card” insurance certificates downward by 5.5%.
The last change in tariffs was on July 26, 2022 upward by 26.3%.
Green Card policies have been implemented since 2009 in two types: all of Europe, Moldova. Also, from January 1, 2016, Ukrainian Green Card policies began to operate on the territory of Azerbaijan.
According to the MTIBU, the cost of a “Green Card” in Ukraine for 15 days for trips around Europe for cars is reduced to UAH 863 (previously – UAH 913), for buses – up to UAH 3,244 thousand (UAH 3,429 thousand), for trucks – up to UAH 2,037 thousand (UAH 2,153 thousand).
The cost of the “Green Card” for one month for cars is now UAH 1.375 thousand (previously UAH 1.453 thousand), buses – UAH 4.506 thousand (UAH 4.763 thousand), trucks – UAH 2.703 thousand (UAH 2.858 thousand) .
The cost of semi-annual and annual Green Card policies for cars is UAH 6,103 thousand and UAH 7,555 thousand, respectively, for buses – UAH 15,773 thousand and UAH 29,293 thousand, for trucks – UAH 12,799 thousand and UAH 24,156 thousand respectively.
The cost of policies for trips to Azerbaijan and Moldova for cars for 15 days will be UAH 629 (previously UAH 665), for one month – UAH 925 (UAH 978), for six months – UAH 2,121 thousand (UAH 2,242 thousand), for a year – UAH 3,020 thousand (UAH 3,193 thousand)
The amounts of unified insurance payments under international compulsory civil liability insurance contracts for owners of land vehicles are established by the Resolution of the Cabinet of Ministers dated January 6, 2005 and are defined in euros.
“Green Card” – a system of insurance protection for victims of a traffic accident, regardless of their country of residence and the country of registration of the vehicle. The “Green Card” covers the territory of 44 countries of Europe, Asia and Africa.
According to the decision adopted by the General Assembly of the Council of Bureaux of the International Auto Insurance System “Green Card” in Luxembourg in May 2004, Ukraine has been a full member of this system since January 1, 2005.
The stock markets of the largest states of the Asia-Pacific region on Friday are declining following the world ones.
Stock indices of Western European countries following the session on Thursday fell to multi-month lows, the American Standard & Poor’s 500 ended trading at the lowest level since November 2020 on concerns about the state of the global economy, as well as due to increased geopolitical tensions and expectations of further monetary tightening. – credit policy of a number of major world central banks.
China’s Shanghai Composite index fell 0.3% by 8:24 pm, Hong Kong’s Hang Seng lost 0.1%.
Business activity in the industrial sector of China in September fell to 48.1 points compared to 49.5 points a month earlier, according to the Purchasing Managers’ Index (PMI), calculated by Caixin Media and S&P Global. This is the lowest level since May. A PMI value above 50 points indicates an increase in activity in the sector, below – its weakening.
Analysts, on average, expected the indicator to remain at the August level, according to Trading Economics.
Meanwhile, a similar official indicator rose to 50.1 points from 49.4 points in August, the State Statistical Office said. The indicator exceeded this level for the first time in three months.
The official PMI for services and construction fell to 50.6 points in September against 52.6 points a month earlier. Consolidated PMI fell to 50.9 points from 51.7 points. Thus, both indicators decreased to the minimum level over the past four months.
The most significant decline in quotations on the Hong Kong Stock Exchange is demonstrated by the shares of sports goods manufacturers Li Ning (-4.7%) and Anta Sports Products (-4.3%), the Internet company Meituan (-4.2%), automotive BYD (- 3.9%), online retailer JD.com (-2.9%).
The value of the Japanese Nikkei 225 fell by 2% by 08:20 Moscow time. Since the beginning of September, it has lost about 7%.
The fall leaders on Friday are shares of automakers Mazda Motor (-8.1%), Mitsubishi Motors (-7.1%), Subaru (-6%), Nissan Motor (-5.9%).
In addition, the price of securities of the investment technology SoftBank Group (-2.5%), the manufacturer of consoles Nintendo (-3.6%), Fast Retailing Co., the largest clothing retailer in Asia, is declining. (-4.3%).
The South Korean Kospi index decreased by 0.1% by 08:13 Moscow time.
Quotes of securities of one of the world’s largest manufacturers of chips and consumer electronics Samsung Electronics Co. rose 1.9%, while automaker Hyundai Motor – fell 2.2%.
Retail sales in South Korea fell by 1.8% in August compared to the previous month. The last time the growth rate was recorded in November last year.
Relative to August last year, sales increased by 2.3%, which was the first rise in three months.
On average, experts expected the first indicator to decrease by 0.1%, the second – by 0.8%.
Australia’s S&P/ASX 200 fell 1.1%, following technology stocks.
In particular, the share price of Xero Ltd (-3.9%), Wisetech Global (-5.6%) and Block Inc. decreased. (-3.3%).
The expenses of Ukrainian insurance companies on advertising and marketing in January-June 2022 increased by 29.9% compared to the same period a year earlier (UAH 38.8 million), according to the website of the National Bank of Ukraine.
In addition, administrative expenses for the reporting period amounted to UAH 2.568 billion, which is 13.1% less than in 6 months-2021, distribution costs amounted to UAH 951.8 million (+8.2%).
The cost of concluding and prolonging insurance contracts amounted to UAH 5.041 billion (-8.7%). Including expenses on agency fees decreased by 10.3% – to UAH 4.682 billion.
The cost of concluding and prolonging reinsurance contracts decreased by 36.9%, to UAH 27.5 million, including fees for brokers, by 39.6%, to UAH 25.1 million, while non-resident brokers increased by 20. 7% – up to UAH 12.8 million.
According to the regulator, over this period, expenses for the settlement of insured events decreased by 20.8% – to UAH 156.5 million. At the same time, the cost of paying for the services of appraisers decreased by 27.7%, to UAH 44.1 million.
Assistance costs decreased by 22.7% and amounted to UAH 80.9 million. At the same time, payment for the services of a non-resident assistance increased by 2 times – up to UAH 4.1 million.
It is also reported that the cost of insurers to conduct court cases for 6 months. 2022 amounted to UAH 10 million against UAH 9.9 million for the same period a year earlier.
As reported, Ukrainian insurance companies in January-September 2022 collected net premiums in the amount of UAH 17.134 billion, which is 27% less than in the same period in 2021 (UAH 23.480 billion). At the same time, the volume of gross insurance premiums amounted to UAH 17.619 billion (-28.9%). Including premiums received from individuals amounted to UAH 3.360 billion, from reinsurers – UAH 2.228 billion.
In January-June, insurers paid UAH 5.835 billion of net insurance payments (31.8% less). The level of net payments decreased from 36.4% to 34.1%. Gross insurance payments decreased by 31.8% to UAH 5.939 billion. The level of gross payments decreased from 35.1% to 33.7%.
The total number of insurance companies in Ukraine as of June 30, 2022 was 142 (6 months-2021 – 181), of which 13 (19) are “life insurance companies”. At the same time, the NBU noted that for 6 months. 2022 reports were submitted by 13 insurance companies.
