U.S. and European equity futures rose Wednesday as traders took stock of risks from a surge in commodity prices following Russia’s invasion of Ukraine. A retreat in China weighed on Asian shares. European contracts added 2%, while S&P 500 and Nasdaq 100 futures made more modest gains. MSCI Inc.’s Asia-Pacific index was weighed down by both China and Hong Kong, where a move by the world’s largest sovereign wealth fund to snub an apparel firm stirred investor angst. Crude climbed after the U.S. moved to ban imports of Russian fossil fuels to punish the nation for the war. The U.K. will prohibit Russian barrels but spare natural gas and coal. West Texas Intermediate oil scaled $126 a barrel. Turmoil in commodities is continuing due to the conflict and sanctions on resource-rich Russia that are cutting it off from the world economy. Supply disruptions and an ensuing inflationary shock could stifle global growth.
The war and disarray in flows of raw materials all point to continued volatility across a range of assets. Commodity costs underline the inflation challenge for the Federal Reserve, which is expected to hike interest rates next week.
Meanwhile, Coca-Cola Co. joined McDonald’s Corp., Starbucks Corp. and a host of other companies in suspending Russia operations in protest at the war. Fitch Ratings cut Russia’s credit rating and said a bond default is “imminent.”
Russian forces intensified their bombardment of Ukraine’s capital Kyiv, the U.S. said. The Russian stock market’s trading halt is being extended in an effort to keep prices from tumbling in the wake of vast international sanctions, while currency trading is set to reopen. In cryptocurrencies, Bitcoin staged a rally, scaling $41,000. Tokens such as Ether also jumped. In a since-removed statement posted to the Treasury website, Treasury Secretary Janet Yellen said President Joe Biden’s upcoming executive order for the sector “will support responsible innovation that could result in substantial benefits for the nation, consumers, and businesses.”
Nikkei -0.30% Hang Seng -1.39% CSI -0.74% Shanghai -0.97% Shenzen -1.03%
Eur$ 1.0925 CNH 6.3247 CNY 6.3203 JPY 115.74 GBP 1.3121 CHF 0.9277 RUB 128.9975 TRY 14.5685 WTI$ 126.13 +1.96% GOLD 2,051.8 +0.04% BTC 41,500 +7.8% ETH 2,710 +5.91%
S&P +0.36% Nasdaq +0.32% EuroStoxx +1.60% FTSE +1.08% Dax +1.95% SMI +0.93%
Macro :
- EU Autos Stagflation Fear as SXAP Falls 29% vs. 50% in Pandemic
- China Investors Learning How to Profit From Xi’s New Capitalism
- China Investors Learning How to Profit From Xi’s New Capitalism
- Bitcoin Surges Above $41,000 Amid Broad Rally in Crypto Market
Keep an eye on :
Keep an eye on :
- ADS GY : Adidas Sees 2022 Sales at Constant FX +11% to +13%, Est. +9.45%
- AGFB BB : Agfa-Gevaert FY Revenue EU1.76B Vs. EU1.71B Y/y
- BFIT NA : Basic-Fit FY Revenue Misses Estimates
- BAYN GY : Bayer Submits Applications in U.S. and EU to Widen Nubeqa Use
- BFF IM : BFF Bank Holder Equinova UK Holdco Offers Shares: Terms
- BNP FP : BNP Paribas Suspends Financing of New Projects in Russia
- BNR GY : Brenntag 2022 Oper Ebitda Forecast Beats Estimates
- CO FP : Czech Investor Kretinsky Boosts Casino Stake to More Than 10%
- CLASB SS : Clas Ohlson 3Q Operating Profit Misses Estimates
- CON GY : Continental FY Net Income Beats Estimates
- CTPNV NA : CTP FY Net Rental Income EU326.9M Vs. EU280.7M Y/y
- DSY FP : Dassault Systemes Suspends New Business in Russia and Belarus
- PBB GY : Deutsche PBB Sees 2022 Pretax EU200M to EU220M, Est. EU212.6M
- DPW GY : Deutsche Post 4Q Ebit Misses Estimates, Deutsche Post Starts New Share Buyback of Up to EU2b
- DIE BB : D'Ieteren Sees 2022 Adjusted Pretax Profit at Least +25%
- DIE BB : D'Ieteren Sees 2022 Adjusted Pretax Profit at Least +25%
- ELIS FP : Elis FY Ebitda Matches Estimates
- GALP PL : Portugal Plans to Reduce Fuel Tax From Friday, Costa Says
- GEBN SW : Geberit FY Ebitda Meets Estimates
- GE US : General Electric to Buy Back Shares up to $3B
- HPOLB SS : Hexpol Buys 70% of Shares in Almaak for EUR70m
- KCO GY : Kloeckner FY Dividend per Share EU1.00
- OR FP : L’Oreal Temporarily Closes Stores, e-Commerce Sites in Russia
- LDO IM : Leonardo Puts Plan to Sell OTO Melara, Wass Units on Hold: Rtrs
- BMPS IM : Italy State-Backed Amco Books EU529M Provisions on Paschi Loans
- NDX1 GY : Nordex Prelim FY Ebitda Above EU50M
- NSKOG NO : Norske Skog Starts Downtime at Bruck Mill Due High Energy Prices
- PRU LN : Prudential FY Adj. Oper Profit $3.23b Vs. $2.76b Y/y (1)
- RIEN SW : Rieter Sees 2022 Sales About CHF1.50B, Est. CHF1.52B
- SFER IM : Salvatore Ferragamo FY Ebitda Beats Estimates
- SPM IM : UniCredit Said to Mull $928 Million State-Backed Loan for Saipem
- SAN FP : Sanofi, Sobi: Efanesoctocog Alfa Met Primary Goal in Phase 3
- STG DC : Scandinavian Tobacco FY Ebitda Pre-Items Meets Estimates
- WAF GY : Siltronic FY Dividend per Share Beats Estimates
- SOON SW : Sonova’s Advanced Bionics Files Appeal Against Med-El Judgment
- SXS LN : Spectris Is Said to Explore Sale of Omega Engineering Unit
- TIT IM : Telecom Italia Downgraded to Ba3 by Moody’s (1)
- UCG IM : UniCredit Said to Mull $928 Million State-Backed Loan for Saipem
- UCG IM : UniCredit Flags Potential Capital Hit in Extreme Russia Scenario
- UMG NA : Universal Music Group Suspends All Operations in Russia
- VOD LN : Vodafone UK in talks to sell residual 21% in Indus Towers
- VOW GY : Porsche Suspends Taycan Output Over Parts Shortage
- XPO US : XPO Logistics Plans Spin-Off; to Create Two Standalone Companies