The latest statistics on the incidence of coronavirus in Belgium confirm scientific models about the onset of a new “wave” of COVID-19 by mid-October, the Sciensano Public Health Institute said.
Updated data from Sciensano released on Tuesday indicates a significant increase in coronavirus infections and COVID-19 hospitalizations.
Last week, daily infections reached an average of 2823 cases, which means an increase of 26% compared to the previous one. During the same period, an average of 94 patients were hospitalized daily. This figure rose by 28% over the week.
The vast majority of cases (92.3%) are infected with a subvariant of the Omicron BA.5 strain. The number of new cases of the disease reached 306 per 100 thousand inhabitants in 14 days.
The average daily number of deaths from coronavirus has increased to almost four, a 42% increase from the previous week. Since the beginning of the pandemic in Belgium, 32,690 people have died from COVID-19.
In the meantime, in France, in connection with the increase in infections with the coronavirus, the issue of resuming the mandatory wearing of protective masks is being considered, Brigitte Autrans, chairman of the French Committee for the Monitoring of Sanitary Risks (Covars), said Tuesday on the RMC radio station.
“All indicators are growing: positive tests, the number of hospitalizations, visits to the emergency rooms of hospitals, and even an increase in hospitalizations in intensive care units is planned. That is, yes, this is the eighth” wave, “Professor Otran stated.
“We really need to wear masks,” she said.
Stock markets in Western Europe are actively rising during trading on Tuesday, following the US stock market and stock exchanges in the Asia-Pacific region (APR).
The composite index of the largest companies in the Stoxx Europe 600 region rose by 2.01% by 11:18 a.m. to 398.70 points.
The German DAX index rose by 2.25%, the French CAC 40 – by 2.7%, the British FTSE 100 – by 1.46%. The Italian FTSE MIB and the Spanish IBEX 35 gained 2.46% and 2.02% respectively.
American stock indices finished the first trading session of the fourth quarter with a steady growth, the rise of the Dow Jones Industrial Average was the highest since February, amounting to 2.7%.
Global markets are supported by hopes that incoming pessimistic statistics may force central banks to slow down the pace of tightening monetary policy, writes Trading Economics.
Statistical data, published on Monday, showed a decline in the index of business activity in the US manufacturing sector in September to the lowest level since May 2020. This was taken by the market as a signal that the tightening of the policy of the Federal Reserve System (Fed) is beginning to suppress economic activity, experts say.
The ISM Manufacturing Index fell to 50.9 last month from 52.8 a month earlier, according to the Institute for Supply Management (ISM). Analysts on average expected it to fall to 52.2 points, according to Trading Economics.
Shares of Credit Suisse Group AG rise in price by 4.5%, recovering from the fall the day before on concerns about the ability of the Swiss bank to restructure its business. At the same time, the head of Credit Suisse, Ulrich Körner, announced the stability of the bank’s finances.
Papers of the British Legal & General Group added 4.9%. The insurance company said it would continue to support pension fund clients hit by the sharp rise in interest rates.
The leading gainer among the components of the Stoxx Europe 600 index is British bakery chain Greggs PLC, which gained 9.3%. The shares of the Swiss manufacturer of vacuum equipment VAT Group AG (+6.9%) and the French IT company Atos SE (+6.8%) are also actively growing.
Ukraine will participate in the joint application of Spain and Portugal to host the 2030 FIFA World Cup, reports The Times on Tuesday.
Under the move, which is believed to have been sanctioned by Ukrainian President Volodymyr Zelensky and the national governments of Spain and Portugal, the country will host one of the tournament’s groups.
The new partnership is to be officially announced by the football leaders of Spain and Portugal during a press conference at UEFA headquarters on Wednesday.
The proposal uses the idea that football can restore hope and peace. While security guarantees will be needed, by 2030 the Russian invasion is expected to end and the country’s recovery is well under way.
The ICE-calculated index showing the dynamics of the dollar against six currencies (the euro, the Swiss franc, the yen, the Canadian dollar, the pound sterling and the Swedish krona) loses 0.11% during trading, the broader WSJ Dollar Index – 0.08%.
The euro/dollar pair is trading at $0.9846 compared to $0.9825 at the close of previous trading. The pound rose to $1.1361 compared to $1.1322 at the close of previous trading.
The US dollar against the yen is 144.75 yen against 144.56 yen the day before.
On Monday, the dollar lost 0.2% against the euro, 1.4% against the pound and 0.1% against the yen.
The weakening of the US currency was facilitated by statistical data showing a decrease in the index of business activity in the US manufacturing sector in September to the lowest level since May 2020. They were taken by the market as a signal that the Fed would have to stop the rate hike cycle earlier than expected in order to avoid a sharp decline in economic activity, Trading Economics notes.
The ISM Manufacturing Index fell to 50.9 last month from 52.8 a month earlier, according to the Institute for Supply Management (ISM). Analysts on average expected it to fall to 52.2 points, according to Trading Economics.
On Friday, September data on the US labor market will be released, which is expected to show a slowdown in US job growth. The consensus forecast of experts polled by Market Watch assumes an increase in the number of jobs in September by 275 thousand (315 thousand in August), while maintaining unemployment at 3.7%.
The dollar-denominated ICE index rose 7.2% in the third quarter, the biggest quarterly jump since 2015, according to Dow Jones data. In September, its value increased by 3.2%. The dynamics of the index for the whole of 2022 may be the best since 2014, when it grew by almost 13%.
Oil prices continue to rise on Tuesday, the market is waiting for the meeting of the OPEC + states, during which a decision may be made to reduce the quota for oil production.
Bloomberg reports, citing sources in OPEC+, that the alliance will discuss the possibility of cutting production by more than 1 million barrels per day (b / d).
The meeting of the OPEC+ Ministerial Monitoring Committee (JMMC), as well as the OPEC+ Ministerial Meeting, will be held in person at the OPEC Secretariat in Vienna on October 5. Since March 2020, meetings have been held via videoconferencing.
The cost of December futures for Brent oil on the London ICE Futures exchange by 8:10 am UTC on Tuesday is $89.27 per barrel, which is $0.41 (0.46%) higher than the closing price of the previous session. As a result of trading on Monday, these contracts rose by $3.72 (4.4%) to $88.86 per barrel.
The price of futures for WTI oil for November in electronic trading on the New York Mercantile Exchange (NYMEX) rose by this time by $0.24 (0.29%), to $83.87 per barrel. By the close of the market on Monday, the value of these contracts increased by $4.14 (5.2%) to $83.63 per barrel.
“We expect a significant reduction in the OPEC+ quota on paper, but in reality it will be much less,” said Warren Patterson, who is in charge of commodity markets strategy at ING Groep NV in Singapore.
“A decrease of 1 million b/d would mean a real decrease in production by less than 400,000 b/d,” Bloomberg quoted the expert as saying.
Since September last year, a number of OPEC+ countries have lagged behind their planned production levels due to lack of investment, due to military clashes and sanctions. At the same time, the overall OPEC + quota increased, which allowed countries that can increase production to do so. In September of this year, OPEC+ ministers decided to reduce the quota for October by 100,000 bpd.
Oil prices fell 25% in the past quarter amid signals of a weakening global economy as a result of the rapid tightening of monetary policy by global central banks, including the Federal Reserve System (Fed). Experts fear a global recession and, consequently, a decline in demand for oil.
