Stocks climbed Tuesday after China’s pledge to boost monetary-policy support for the nation’s Covid-hit economy assuaged some of the concerns about the outlook for the global recovery. An Asia-Pacific equity index rose for the first time in four sessions amid a near-5% jump in technology shares in Hong Kong and a partial rebound in Chinese bourses from their plunge Monday. U.S. equity futures edged up and European contracts added about 1.5% Aside from vowing more assistance, the People’s Bank of China also said it will promote healthy and stable development in financial markets. Most of Beijing is being tested for the virus, fanning fears of an unprecedented lockdown there.
Treasuries slipped along with the dollar and oil advanced in a sign of steadier investor sentiment. But the risk of an economic downturn from China’s lockdowns, as well as aggressive Federal Reserve policy tightening to quell inflation, continues to hang over markets. The yuan pushed higher after the PBOC on Monday cut the amount of money banks must set aside in reserve for foreign-currency holdings, effectively boosting the domestic supply of dollars. The prospect of slower economic expansion alongside persistent inflation is leading to a febrile mood in markets. The panoply of risks spans the pandemic, supply-chain disruptions, Fed tightening and Russia’s grinding war in Ukraine. US After Hours OI +12.9%, CDNS +5.2%, WHR +3% higher on earnings; UHS -10.7% falls on earnings; PTGX -39.5% falls on clinical data
Nikkei +0.55% Hang Seng +1.43% CSI +0.71% Shanghai +0.29% Shenzen +0.25%
Eur$ 1.0732 CNH 6.5615 CNY 6.5361 JPY 127.98 GBP 1.2760 CHF 0.9587 RUB 74.9926 TRY 14.7761 WTI$ 99.60 +1.08% Gold 1905.12 +0.38% BTC 40,630 +1.10% ETH 3,000 +0.30%
S&P +0.16% Nasdaq +0.18% EuroStoxx +1.63% FTSE +1.02% Dax +1.56% SMI +0.85%
Macro :
- Manchin Backs Ban on Russian Uranium, Says U.S. Supply An Issue
- Fidelity to Offer Bitcoin Investment for Pension Plans: NYT
- EU weighs cap on price paid for Russian oil as way to hit Kremlin revenues
Keep an eye on :
- ALO FP : Bombardier Says Alstom Is Requesting Arbitration on Unit Sale
- AKER NO : Aker Horizons, Statkraft Partner For Green Hydrogen, Ammonia
- AAD GY : Amadeus Fire 1Q Operating Ebita EU17.6M Vs. EU14.8M Y/y
- BG AV : Bawag 1Q Pretax Profit Beats Est., Plans Two-Step Buyback (1)
- BAYN GY : Bayer CEO Sees ‘Very Successful Start to the Year’
- BBVA SM ; BBVA Seeks Mandatory Tender Offer Exemption for Garanti Units
- BEFSA GY : Befesa 1Q Adjusted Ebitda Misses Estimates
- BEN FP : Beneteau to Nominate Bruno Thivoyon as CEO
- BGBIO NO : BerGenBio Says ACCORD2 Study Primary Efficacy Endpoint Met
- COLL SS : Collector 1Q Total Income Beats Estimates
- DB1 GY : Deutsche Boerse Sees FY Ebitda Above EU2.2B, Saw About EU2.2B
- ENG SM : Enagas 1Q Net Income Misses Estimates
- EQV1V FH : eQ 1Q Operating Profit Beats Estimates
- FABG SS : Fabege 1Q Income From Property Management Misses Estimates
- EO FP : Forvia Plans to Suspend Dividend, Boost Asset Sales
- HABA GY : Hamborner REIT 1Q FFO per Share EU0.14 Vs. EU0.16 Y/y
- HYQ GY : Hypoport Prelim 1Q Ebit EU17M
- IDIA SW : Idorsia 1Q Revenue Misses Estimates
- INTO BB : Intervest Offices & Warehouses Buys Zeebrugge Project for EU78m
- KESKOB FH : Kesko Prelim 1Q Adjusted Ebit About EU144M; Raises FY Forecast
- KORI FP : Korian 1Q Revenue EU1.09B
- KNIN SW : Kuehne + Nagel 1Q Ebit Beats Estimates
- LTG LN : Learning Tech Delays FY Results on ‘20 Balance Sheet Adjustment
- MMT FP : M6 1Q Revenue EU322.5M Vs. EU296.6M Y/y
- MITRA BB : Mithra in Pact With MedinCell for Malaria, Transplant Products
- NENTB SS : NENT 1Q Sales Misses Estimates; Upgrades Nordic Viaplay Target
- NOVN SW : Novartis 1Q Core EPS Matches Estimates
- ORA FP : Orange 1Q Ebitda After Leases Meets Estimates
- PHARM NA : Pharming Gets Positive MHRA Decision on Plan for Leniolisib
- RAND NA : Randstad 1Q Organic Revenue Beats Estimates
- RHM GY : Rheinmetall Seeks to Export 88 Leopard 1 Tanks to Ukraine: Welt
- SAABB SS : Saab CEO Warns EU Not to Classify Company ‘Non Sustainable’: DI
- SAN SM : Santander 1Q Net Income Beats Estimates
- SEBA SS : SEB Moves Into Banking-as-a-Service After Securing First Client
- SIGN SW : SIG Group 1Q Adjusted Ebitda Beats Estimates
- SKFB SS : SKF, Amazon Web Services to Collaborate on Condition Monitoring
- SMCP FP : SMCP 1Q Organic Sales +23.7%
- SYDB DC : Sydbank Prelim 1Q Total Income DKK1.30B
- TSLA US : Jeff Bezos Takes Aim at Musk’s Twitter Deal With China Jibe
- THULE SS : Thule 1Q Adjusted Ebit Beats Estimates
- TRYG DC : Tryg 1Q Profit After Tax Misses Estimates
- TWTR US : Regulators are unlikely to block Musk’s purchase of Twitter, former officials say.
- UBSG SW : UBS Group 1Q Net Income Beats Estimates , UBS Sees $100 Million Impact from Russia as it Cuts Exposure
- VLA FP : Valneva, Pfizer Report Positive Phase 2 Data for Lyme Vaccine
- VOW GY : VW ‘Gradually Resumes’ Shanghai Plant After Weeks-Long Halt
- WIHN SW : WISeKey Intl Holding Sells 51% Arago Stake for EU25.5M
- WIHL SS : Wihlborgs 1Q Income From Property Management Misses Estimates
- XRX US : Icahn Bought 2.13 Million Xerox Shares April 22 - 25
- XIOR BB : Xior 1Q Net Rental Income EU24.8M Vs. EU17.6M Y/y