The Bloomberg Commodity Spot commodity price index fell to an eight-month low amid fears of a recession in the global economy.
The index, calculated on the basis of prices for a wide range of commodities – from oil and copper to wheat, on Monday fell by 1.6%, to a minimum since January 24. Its value has fallen by 22% from the peak level recorded in July. The rise associated with a jump in commodity prices immediately after the start of the Russian war in Ukraine has completely disappeared.
The continued strength of the dollar is making dollar-denominated commodities more expensive for overseas buyers, worsening demand prospects, Bloomberg said.
Experts see an opportunity for further decline in commodity prices, despite the fact that the supply of many commodities is limited. The unprecedented pace of raising key interest rates by world central banks, trying to contain the highest inflation in decades, raises fears of a recession in the global economy. The downturn, in turn, will worsen the outlook for energy demand and investor appetite for risk, economists warn.
The simultaneous destruction of three gas pipelines in the Baltic Sea is unprecedented, Nord Stream AG, the operator of the first Nord Stream, said.
“The destruction that occurred on the same day simultaneously on three strings of the offshore gas pipelines of the Nord Stream system is unprecedented. It is not yet possible to estimate the timing of the restoration of the gas transport infrastructure,” the project company said.
On the night from Sunday to Monday, a leak occurred on one of the threads of the Nord Stream 2 pipeline. This happened in the Danish EEZ southeast of Bornholm.
In addition, gas leaks were recorded from both threads of the first Nord Stream – in the exclusive economic zone of Denmark northeast of about. Bornholm.
There are 5-mile no-go zones for shipping around the leak areas.
The first Nord Stream with a capacity of 55 billion cubic meters. m of gas per year has been stopped today due to the running time between repairs by the engines of gas pumping stations, as well as breakdowns of compressor equipment that cannot be eliminated due to sanctions.
Nord Stream 2, of a similar capacity, was built and ready for operation, but did not work due to sanctions restrictions.
The Shegini checkpoint on the Ukrainian-Polish border has resumed the clearance and passage of vehicles, the Western Regional Directorate of the State Border Guard Service of Ukraine reports.
“The passage of persons and vehicles at the Shehyni checkpoint has been resumed. Currently, the queue to leave Ukraine is 120 cars and 4 buses,” the Facebook post says.
As reported, on Tuesday morning, the passage of vehicles was suspended in both directions due to a malfunction in the database of the Customs Service of Ukraine.
The shareholders of PJSC “Production Association” Stalkanat “(Odessa) intend to raise financing in the form of a loan or other financial instruments in the amount not exceeding UAH 1 billion for a period of not more than 5 years.
Such an issue is included in the agenda of the extraordinary general meeting of shareholders scheduled for October 14 of this year, which will be held remotely. The decision to hold the meeting was made by the Supervisory Board of the company on September 26 this year.
At the meeting, the shareholders intend to agree to the receipt by the company of credits / loans (acceptance / receipt of monetary obligations, other financing, funds / obligations), overdrafts, guarantees, letters of credit and / or any other banking products / services by concluding relevant agreements and additional agreements thereto.
At the same time, the amount of attracted financing cannot exceed UAH 1 billion with a term of such obligations of no more than 5 years, but no later than September 1, 2027.
In addition, the shareholders intend to agree to pledge/mortgage the company’s property (real, movable) and/or conclude other agreements to ensure the fulfillment of obligations in the amount of not more than UAH 1 billion.
As reported, the general meeting of shareholders held on September 3, 2021 decided to separate from PJSC “Stalkanat-Silur” and create a new company – PJSC “Stalkanat” with the transfer of part of the property, rights and obligations to it in accordance with the approved distribution balance.
Director General of Stalkanat-Silur Sergey Lavrinenko explained earlier to the Interfax-Ukraine agency that all shares of Stalkanat PJSC being created are distributed among all shareholders of Stalkanat-Silur PJSC. The shareholders agreed to spin off the Stalkanat company, to which the Odessa industrial site will be transferred. In turn, PJSC “Stalkanat-Silur” will also remain, on the balance sheet of which will be “Silur”, located in a temporarily uncontrolled territory (Khartsyzsk, Donetsk region).
PJSC “PA “Stalkanat-Silur” (Odessa) previously had two branches – in Odessa and in Khartsyzsk, Donetsk region on the tubing. “. Later, the management of PJSC “PA” Stalkanat-Silur “announced the seizure of the company’s branch in Khartsyzsk on the NKT, sent a corresponding statement to the National Police.
According to the NDU, for the fourth quarter of 2021, David Nemirovsky (Ukraine) owns 50.0001% of the company’s shares, Anton Mikhalenko – 23.7%, Edery Liron (both Israel) – 23.1%.
The authorized capital of Stalkanat-Silur is UAH 26.083 million.
Stock indices of the Asia-Pacific region (APR) do not show a single dynamics during trading on Tuesday.
Equity markets are under pressure amid fears of persistently high inflation and the risk that central bank measures to contain it could trigger a recession in the global economy, writes MarketWatch.
Investors mainly focused on the actions of the US Federal Reserve System (FRS), which last week raised the federal funds rate by 75 basis points, to a range of 3-3.25% per annum, which is the maximum level since the financial crisis of 2008. At the same time, based on FRS estimates, by the end of 2022 the rate will reach 4.4% per annum.
Additional pressure on the equity markets in recent days has been exerted by volatility in the foreign exchange markets.
In addition, market participants are preparing for the start of a new reporting season, as the third quarter of this year is coming to an end. The results of the companies will allow them to better understand how the business copes with high inflation.
The Japanese Nikkei 225 index added 0.3% by 8:26 Moscow time.
The leaders of growth among the components of the indicator are shares of Hitachi Zosen Corp. (+4.1%), Konami Group Corp. (+4%) and Mitsui E&S Holdings Co. Ltd. (+2.8%).
The Chinese Shanghai Composite index rose 0.75% by 8:33 Moscow time, while the Hong Kong Hang Seng decreased by 0.9%, while earlier in the course of trading it fell to a minimum of more than 11 years.
The total profit of large Chinese industrial enterprises decreased by 2.1% in January-August 2022 compared to the same period a year earlier and amounted to 55.25 trillion yuan ($7.72 trillion), according to the State Bureau of Statistics (GSO) of the country.
Meanwhile, the People’s Bank of China (PBOC, the country’s central bank) accelerated the injection of liquidity into the financial system towards the end of the quarter. The regulator injected 175 billion yuan through open market operations, the NBK said in a statement.
Shares of Link Real Estate Investment Trust (-4.1%), Shenzhou International Group Holdings Ltd are among the drop leaders in Hong Kong. (-3.9%) and Budweiser Brewing Co. APAC Ltd. (-3.9%).
The South Korean index Kospi by 8:37 Moscow time fell by 1%.
Shares of one of the world’s largest manufacturers of chips and consumer electronics Samsung Electronics Co. rose in price by 0.1%, automaker Hyundai Motor – by 0.55%.
The Australian stock index S&P/ASX 200 rose by 0.25%.
Mining BHP Group rose 2.2%, Rio Tinto – 2.6%.
In the current epidemiological season, Ukraine may face a twin-epidemic (simultaneous epidemics) of COVID-19 and influenza, Fedor Lapiy, head of the National Technical Expert Group on Immunoprophylaxis (NTEGI), predicts.
“There is reason to believe that this season’s flu will return to us, and we will meet with the so-called twindemic, that is, simultaneous epidemics of COVID-19 and influenza,” he said in an interview with Interfax-Ukraine.
Lapiy explained that a prerequisite for a twindemic now could be the fact that the flu was previously contained due to quarantine measures in force in Ukraine before the Russian military invasion to combat the COVID-19 pandemic.
“Over the past two years, the measures that were taken to prevent COVID-19: masks, quarantine measures, distance learning, etc., also contained the flu very well. Therefore, we have influenza in the 2020-2021 and 2021-2022 seasons in fact, there wasn’t, but his virus didn’t disappear anywhere. A non-immune layer has accumulated that will contribute to the flu epidemic. It is absolutely obvious that the tweendemia scenario can now be realized,” he said.
Lapiy noted that if a person is ill with these two diseases at the same time, this significantly worsens the prognosis, and the risk of death doubles.
