$HSBC

**SVEZIA - HSBC** intende tagliare il 10-15% delle posizioni di chief operating officer a livello globale - Fonti.

**GERMANIA - HSBC port la Germania da neutrale a sovrappesare.**

**REGNO UNITO - HSBC declassa il Regno Unito a neutrale da sovrappesato.**

**REGNO UNITO - HSBC abbassa le previsioni sui tassi di interesse del Regno Unito al 3,75% dal precedente 4,25%, con un ulteriore aumento di 50 punti base a dicembre e di 25 punti base a febbraio.** **HSBC:** Il taglio è dovuto al tono dovish della BoE a novembre e al ritiro di quasi tutti gli allentamenti fiscali.

**DATI MACRO** COREA DEL SUD Indice BSI manifatturiero HSBC (Nov) 75 (Previsione -, Precedente 73)

By Peter Nurse Investing.com - European stock markets are expected to open marginally higher Tuesday, continuing the previous session’s positive tone as investors digest quarterly earnings from the banking sector ahead of the release of a key guide of German business sentiment. At 02:00 ET (06:00 GMT), the DAX futures contract in Germany traded 0.1% higher, CAC 40 futures in France climbed 0.6% and the FTSE 100 futures contract in the U.K. rose 0.1%. European equity markets started the week strongly, with both the DAX and the CAC 40 posting gains of 1.6% on Monday, tracking gains on Wall Street as investors bet that a pronounced economic slowdown could push the Federal Reserve into softening its hawkish stance. Aside from central bank decisions, with the European Central Bank widely expected to lift interest rates again on Thursday, investors are focussing on the quarterly corporate earnings season, with investment banks reporting this week. Swiss banking giant UBS (SIX:UBSG) reported a 24% fall in third-quarter net profit on a decline in market activity, although it beat expectations due to a rise in client funds. London-based rival HSBC (LON:HSBA) reported a 42% drop in third-quarter pretax profits on the back of losses on the sale of its French unit and rising bad loans, but its interest income surged with rates rising around the world. Elsewhere, Swiss drugmaker Novartis (SIX:NOVN) revealed a drop of 4% in quarterly operating income as competition weighed on prescriptions of multiple sclerosis drug Gilenya, while Norwegian aluminum producer Norsk Hydro (OL:NHY) posted third-quarter profits well above expectations. Additionally, business software maker SAP (ETR:SAPG) reported slower-than-expected revenue growth and a drop in profits for the third quarter. Investors will also study the October release of the German Ifo business climate indicator, which is expected to show another drop in confidence in the Eurozone’s largest economy. Germany is headed for recession as the energy standoff with Russia, rising prices and supply bottlenecks take their toll. Oil prices edged higher Tuesday, helped by dollar selling, but gains were limited by continued concerns of slowing global demand growth, particularly from China, the world’s largest importer of crude. The U.S. dollar index edged lower in early trade, making dollar-denominated commodities, including oil, less expensive for foreign buyers. The latest estimate of U.S. crude oil inventories, from the American Petroleum Institute, is due later in the session, and is expected to rise this week after last week’s surprise 1.3 million barrel fall. By 02:00 ET, U.S. crude futures traded 0.1% higher at $84.66 a barrel, while the Brent contract rose 0.1% to $91.31. Additionally, gold futures fell 0.1% to $1,652.30/oz, while EUR/USD traded flat at 0.9874.

European Stock Futures Edge Higher; UBS, HSBC Release Earnings

**HSBC, Regno Unito: Rimuoveremo dalla vendita i nuovi prodotti ipotecari residenziali e buy-to-let e li renderemo nuovamente disponibili mercoledì - Email inviata al broker.**

TIM (TIT.MI) Hsbc dimezza il target price da 0,40 a 0,20 euro e riduce il giudizio da Buy a Hold. E stamattina torna giù di nuovo

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By Rae Wee and Alun John SINGAPORE/LONDON (Reuters) - The rate-sensitive Japanese yen continued tumbling on Tuesday, falling past 142 per dollar, while sterling and the euro tried, and in the euro's case failed, to recover from multi-year lows against the dollar hit the day before. The dollar climbed 1.07% on the yen to 142.1, a fresh 24-year high. The dollar is up 23% against the Japanese currency so far this year. "The FX market is re-focusing on rate hikes by major central banks and the Bank of Japan (BOJ) stood out at the Jackson Hole symposium as the only one that remained resolute about keeping monetary policy accommodative," said HSBC analysts in a note. "USD-JPY’s correlation with US yields has thus rebounded to near their strongest year-to-date level," they wrote in the note, titled, "JPY: staring into the abyss." The bank changed its forecast for the pair to 144 at the end of the third quarter up from 140 previously. The U.S. benchmark 10-year yield was last at 3.2557%, up from Friday's close of 3.191%. U.S. markets were closed on Monday for a holiday. [US/] In contrast, the yield on 10-year Japanese government bonds was 0.24%, due to the BOJ's yield curve control policy. Elsewhere, the pound and the euro both gained over 0.6% against the dollar in morning trading in Europe, though while sterling managed to cling onto some of this, up 0.35% at $1.1564, the euro retreated to trade flat on the day at $0.99205, only just above its 20-year intraday low hit the day before. "That governments are working on price caps, support for the consumer, and really trying to get a grip on the energy crisis helps set a floor under those two pairs," said Samy Chaar, chief economist Lombard Odier. The pound was also performing well on the crosses, gaining 1.44% against the yen. Britain's incoming Prime Minister Liz Truss is considering a freeze on household energy bills to try to avert a winter cost-of-living crisis for millions of households, Reuters reported on Monday. European Union ministers will meet on Sept. 9 to discuss urgent bloc-wide measures to respond to a surge in gas and power prices that is hammering Europe's industry and hiking household bills, after Russia curbed gas deliveries to the bloc. The Australian dollar slid to a seven-week low after the Reserve Bank of Australia raised its cash rate by 50 basis points, but signalled it was not on a preset path for future rate hikes. The Aussie was last 0.43% lower at $0.6768. In China, the authorities' efforts to slow the yuan's recent depreciation were proving unsuccessful, with the yuan slipping to a fresh two-year low of 6.9784 in offshore trade. China's central bank late on Monday cut the foreign exchange reserve requirement ratio (RRR), freeing up dollars for banks to sell. Two dealers also told Reuters South Korean authorities were suspected of selling dollars near the end of the onshore trading session on Tuesday in an apparent intervention to curb the won's weakness. (This story refiles to fixe day of the week in 1st paragraph)

RECAP 8/23 Unusual Puts: $ICLN Sep 21 P $REI Dec 3 P $UBER Nov 27.5 P $FCX Sep 25 P $BBBY Jan 7 P $HSBC Sep 29 P $RCL Sep 30 P

By Elizabeth Howcroft LONDON (Reuters) -The dollar rose on Friday but was still set for a weekly decline as traders looked for signs of U.S. inflation peaking. U.S. inflation figures on Wednesday and Thursday were lower than expected, boosting riskier assets such as equities and weakening the dollar, as markets interpreted the data as indicating the Fed could be less aggressive in rate hikes. But Fed officials made clear they would continue to tighten monetary policy. San Francisco Federal Reserve Bank President Mary Daly said on Thursday she was open to the possibility of another 75 basis point (bp) hike in September to fight too-high inflation. At 1047 GMT, the dollar index was up 0.4% on the day at 105.520, changing course after four days of losses that have put it on track for a weekly decline of 1%. The yen lost out to the dollar's strength, with the U.S. unit up 0.5% against the Japanese currency at 133.62. Traders were pricing in around a 36.5% chance of a 75 bps Fed rate hike in September and a 63.5% chance of 50 bps. "We think it will take far more evidence of slowing core inflation to temper Fed tightening," Paul Mackel, global head of FX research at HSBC, said in a note to clients. "Inflation is also a global problem not just a U.S. one, and so global growth and inflation dynamics will also drive the USD," Mackel said. "The likes of the ECB (European Central Bank) and the BoE (Bank of England) may still find it hard to match market pricing for rate hikes, creating downside pressures for EUR and GBP." Kit Juckes, head of FX strategy at Societe Generale (OTC:SCGLY), said dollar trading was likely to remain "choppy". “It’s not going to be going significantly weaker in a straight line because there’s still a danger than the market has to reprice terminal Fed funds higher, given there’s still plenty of inflation,” Juckes said. GDP CONTRACTION The British pound was down 0.8% at $1.212 versus the strong dollar. UK GDP contracted by less than feared in June, even though an extra public holiday had been expected to cause a big drag. The euro was down 0.3% at $1.0291. French inflation was up 6.8% year-on-year in July, while for Spain the figure was 10.8%, the highest since 1984, data showed. The euro has been weighed down by Europe's struggles with the war in Ukraine, the hunt for non-Russian energy sources, and a hit to the German economy from scant rainfall. Low water levels on the Rhine, Germany's commercial artery, have disrupted shipping and pushed freight costs up more than five-fold. Commerzbank (ETR:CBKG) said in a note to clients it had revised its euro-dollar forecast lower, as it expects a euro-area recession as a base scenario, having previously been a "risk scenario". Commerzbank expects the euro to fall to $0.98 in December and to not recover until later in 2023. Inflation in Sweden eased to 8% year-on-year in July, which ING said may lessen expectations for a massive Riksbank rate hike in September. "After a good run in July, we doubt the Swedish krona pushes on too much further against the euro," ING's Turner said. The New Zealand dollar was lifted by expectations of a Reserve Bank of New Zealand rate rise next week.

By Liangping Gao and Kevin Yao BEIJING (Reuters) -China's factory-gate inflation eased to a 17-month low in July, defying global cost pressures as slower domestic construction weighed on raw material demand, although consumer price gains hit a two-year high as pork supplies tightened. The producer price index (PPI) rose 4.2% year-on-year, the National Bureau of Statistics (NBS) said on Wednesday, after a 6.1% uptick in June and missing analyst forecasts for a 4.8% increase. China's producer price growth has slowed from a 26-year high hit in October last year, giving policymakers some leeway to stimulate the flagging economy even as central banks elsewhere scramble to hose down rampant inflation with aggressive interest rate hikes. While China's relatively benign inflation has largely been due to weak domestic demand, a moderation in global price pressures, such as falling oil prices, also contributed to July's slowdown. "Factory gate inflation will remain on a downward trajectory throughout the rest of the year amid a further drop in commodity prices, easing supply bottlenecks and a higher base for comparison," Zichun Huang, China Economist at Capital Economics, said in a research note. In a sign of the slowing momentum, PPI fell 1.3% month-on-month, its first monthly decline since January, with the biggest falls in the price of metals and petrochemicals. In annual terms, coal mining and washing industry prices rose 20.7%, slowing 10.7 percentage points from June, while the oil and gas extraction industry jumped 43.9%, down 10.5 percentage points, according to a separate statement from NBS. Input prices slumped in July, China's official purchasing managers' index showed last week, due to a decline in energy and raw material costs and pointing to an eventual fall in producer prices. The world's second-biggest economy has slowed considerably and narrowly escaped a contraction in the June quarter, weighed by strict COVID-19 controls, a distressed property market and cautious consumer sentiment. The consumer price index (CPI) increased 2.7% from a year earlier, the fastest pace since July 2020 but missing forecasts for a 2.9% gain. The main driver of consumer prices is food inflation, which rose 6.3% year-on-year, speeding up from a 2.9% uptick in June. Driving the broader food surge were pork prices, which shot up 20.2% year-on-year, reversing a 6.0% decline in June as production slowed. However, core CPI, which excludes volatile energy and food prices and is a better gauge of underlying inflation, remained soft, rising just 0.8%, slower than the 1.0% rise in June. CONSTRAINED DOVES While the People's Bank of China (PBOC) is expected to keep monetary settings loose amid sluggish growth, there are limits on how much the bank can ease policy due to worries about capital outflows, as the U.S. Federal Reserve raises interest rates aggressively. The PBOC will therefore likely rely on more targeted easing to support the recovery, even as consumer inflation tests China's 3% tolerance threshold. That means the prospect of a near-term across-the-board interest rate cut is low, given existing global inflationary pressures and interest rate hikes in other major economies, said Bruce Pang, a chief economist at Jones Lang Lasalle (NYSE:JLL). "In all, CPI inflation remains below the PBOC's target of around 3%, providing it the policy space to remain accommodative," Erin Xin, economist at HSBC, said in a note. "With continued uncertainty from COVID-19 clusters as well as weak sentiment in the property market, there is still a need for the PBOC to stay accommodative."

By Alun John HONG KONG (Reuters) - The dollar edged off a two-week high on the euro on Friday, ahead of inflation data that should guide the Federal Reserve's policy tightening path, and after the European Central Bank said it would start its rate-hike campaign next month. U.S. core consumer price growth is expected to cool a fraction, data later in the global day is set to show. Such an outcome would provide some reassurance to those hoping decades-high inflation had peaked in March and that the April pullback was not a one-off. This could give the Fed some wiggle room to raise rates less aggressively later in the year as it tries to rein in inflation without tipping the economy into recession. In the nearer term, markets expect the Fed next week to announce the second of its three consecutive 50-basis-point interest rate hikes, which has boosted the dollar in recent months. Two-thirds of respondents to a Reuters poll of analysts expected a further 25 basis point hike in September. The euro edged up 0.23% in Asia trade having touched $1.0611 early in the session, its lowest since May 23. It lost 0.92% on the dollar overnight after a volatile ECB-driven session. The dollar index, which measures the greenback against six peers, was 0.27% lower at 103.1 but still up 0.94% this week. That would mark its biggest percentage gain since the last week of April. The index "looks to have navigated a more determined and hawkish ECB with relative ease. Their plans to raise rates by 25bp in July and Sep and tabling potentially larger increments was evidently no more hawkish than expected," said analysts at Westpac. The analysts said the index looked to be settling into a range of 101 to 105, with room to test the higher end of that should the U.S. CPI data and next week's Fed meeting underscore the potential for higher U.S. yields. The European Central Bank, on Thursday, said it would end quantitative easing on July 1, then raise interest rates by 25 basis points on July 21. The ECB flagged a bigger rate increase in September unless the inflation outlook improves in the interim period. Elsewhere, the dollar gave back a fraction of its recent gains against the Japanese yen, falling 0.35% to 133.85 yen, but still in sight of its 20-year high of 134.55 hit Thursday. The Bank of Japan, unlike major peers, has repeatedly committed to keeping interest rates low, sending the yen down to within striking distance of 135.20 hit on Jan. 31, 2002. A break past that would be its lowest since October 1998. Analysts speculate Japanese investors in overseas assets are hedging less of their currency risk due to the weakening yen, extending a trend indicated by Japanese life insurers' publicly announced plans to reduce currency hedging earlier this year. Lifers' plans to reduce FX hedging is "marginally bearish" for the yen, said HSBC in a note on Friday, also lowering their dollar-yen forecast to 135 from the previous 128. The risk sensitive Australian dollar edged up 0.35% to $0.7122 but was still down 1.2% this week, hurt by declines in equity markets, while sterling gained fractionally against the dollar to $1.2513. Bitcoin was steady at $30,100.

By Peter Nurse Investing.com - European stock markets are expected to open higher Tuesday, starting the new month on a positive note as investors await more corporate earnings and the prospect of key central banks tightening monetary policy. At 2 AM ET (0600 GMT), the DAX futures contract in Germany traded 0.6% higher, CAC 40 futures in France climbed 0.6%, and the FTSE 100 futures contract in the U.K. rose 0.6%. European equity markets are trying to shake off a weak showing in April, with the major indices weighed by concerns about economic growth slowing, rising inflation, and Russia’s ongoing war in Ukraine. A lot of attention will be on central banks this week as a number hold policy-setting meetings that could determine market sentiment for weeks to come. The Reserve Bank of Australia started the ball rolling earlier Tuesday, raising its main cash rate by 25 basis points to 0.35%, its first hike in more than a decade, as the central bank began withdrawing its extraordinary monetary support. The Federal Reserve starts its two-day later Tuesday, and is expected to raise rates by a half-point when it hands down its policy decision on Wednesday. The Fed raised its policy interest rate by 25 basis points in March and is soon likely to begin asset trimming, as it tightens its monetary policy. The Bank of England will also hand down its policy decision on Thursday, and is expected to raise interest rates to their highest level in 13 years. In the corporate sector, HSBC (LON:HSBA) is likely to be in focus after its largest shareholder, Chinese insurance giant Ping An (OTC:PNGAY), called for a break-up of the U.K.-headquartered bank, one of Europe’s largest. Logitech (NASDAQ:LOGI) reported a 20% drop in sales for its fourth quarter, and the computer hardware manufacturer reduced its fiscal year 2023 outlook, removing the estimate of annual sales and profits that would have been generated in Ukraine and Russia. Elsewhere, German unemployment data for April are due later in the session along with the March Eurozone PPI release. Oil prices edged lower Tuesday but remained elevated as the European Union is expected to firm up plans to tighten sanctions on Russia this week, potentially agreeing an embargo on Moscow’s oil. There has been disagreement within the bloc over whether to take this next step, but expectations are rising with Germany, the union’s largest economy and de facto leader, saying it was prepared to back an immediate embargo. A deal could include exceptions for Hungary and Slovakia, both heavily dependent on Russian oil imports. U.S. inventory data for the week ended April 29 from the American Petroleum Institute industry group are due later in the session, as a precursor for government data from the Energy Information Administration on Wednesday. By 2 AM ET, U.S. crude futures traded 0.2% lower at $104.95 a barrel, while the Brent contract fell 0.3% to $107.30. Additionally, gold futures fell 0.1% to $1,860.99/oz, while EUR/USD traded 0.1% higher at 1.0507.

European Stock Futures Higher; HSBC Linked With Breakup

By Stella Qiu and Tom Westbrook BEIJING (Reuters) - Asian shares wobbled on Friday and the Chinese yuan slid as investors fretted about an increasingly aggressive rate-hike outlook for the United States, and the fallout for the global economy from lockdowns in China. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.7% and touched a five-week low, weighed down by a 1.6% loss for Australia's resource-heavy index and a 0.8% drop in South Korean shares. Japan's Nikkei declined 1.6%. The European open is also looking weak, with EuroSTOXX 50 futures down 1.6% and FTSE futures down 1.2%. S&P 500 futures are down 0.1%. Chinese stocks staged a recovery in volatile trade, with the mainland's bluechips reversing early loses to gain 1% on hopes for policy support, but the currency remains under pressure as lockdowns in Shanghai take a bite out of growth. The yuan hit a seven-month low and is on course for its worst week since 2019. Analysts at HSBC expect a comprehensive easing package on all fronts, both monetary and fiscal, from China is needed, including loosening measures in the property sector, which has been hit hard by restrictions on access to credit. "The next key focus will be the China PMI data next week," said Jingyang Chen, a currency analyst at HSBC in Hong Kong, where a negative surprise could drive the yuan lower still. "High frequency data in April has suggested severe supply chain disruptions caused by the virus containment measures in the Yangtze River Delta region, which accounts for almost a quarter of China's GDP." Tech shares in Hong Kong were supported by signs of progress in resolving audit issues that have called into question the U.S. listings of Chinese firms, but rates worries kept most other asset classes on edge. U.S. RATE HIKES On Thursday, U.S. Federal Reserve Chairman Jerome Powell said a half-point interest rate increase will be "on the table" when the Fed meets in May, adding it would be appropriate to "be moving a little more quickly." His remarks effectively confirmed market expectations of at least another half-percentage-point rate hike from the Fed next month, and Nomura now expects 75 basis point hikes at its June and July meetings, which would be the biggest of that size since 1994. Selling pressure persisted in bond markets, driving five-year U.S. Treasury yields to 3.04%, the highest late 2018, and two-year yields to a new high of 2.7620%. [US/] Elsewhere, markets were still reeling from comments by European Central Bank officials that the central bank might start hiking euro zone rates as early as July. German two-year yields hit an eight-year high on Thursday. In currency markets the yen steadied on talk of joint Japan-U.S. FX intervention, while the euro has given up Thursday's bounce as nerves about Sunday's French presidential election creep in. The yen last traded at 127.82 per dollar and the euro at $1.0848. Dollar gains drove the Australian and New Zealand dollars to multi-week lows. [FRX/] Oil prices fell on Friday, burdened by the prospect of interest rate hikes, weaker global growth and COVID-19 lockdowns in China hurting demand. Brent crude futures were down $1.30, or 1.2%, at $107.03 a barrel, while U.S. West Texas Intermediate (WTI) crude futures declined $1.27, or 1.2%, to $102.52. The looming U.S. rate hikes have weighed on gold. Spot gold was last down 0.02% to $1,951.32 per ounce. Wall Street indexes fell on Thursday, with the S&P 500 down 1.5% and the Nasdaq down 2%.

Sky Mavis Raises USD 150M, HSBC & Metaverse, BitPay Adds Bitcoin Lightning Network + More News https://cryptonews.com/news/sky-mavis-raises-usd-150m-hsbc-metaverse-bitpay-adds-bitcoin-lightning-network-more-news.htm

HSBC debuts metaverse investment fund in Asia: Report https://cointelegraph.com/news/hsbc-debuts-metaverse-investment-fund-in-asia-report

HSBC Starts Metaverse Fund for Private Banking Clients in Asia https://www.coindesk.com/business/2022/04/06/hsbc-starts-metaverse-fund-for-private-banking-clients-in-asia/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

HSBC enters The Sandbox to offer educational finance games https://cointelegraph.com/news/hsbc-enters-the-sandbox-to-offer-educational-finance-games

Metaverse Banking: HSBC Enters The Sandbox as JPMorgan Tests Decentraland https://cryptonews.com/news/metaverse-banking-hsbc-enters-sandbox-as-jpmorgan-tests-decentraland.htm

HSBC Enters the Metaverse Through Partnership With The Sandbox https://www.coindesk.com/business/2022/03/16/hsbc-enters-the-metaverse-through-partnership-with-the-sandbox/&utm_source=rss&utm_campaign=headlines

By Emily Chow and Florence Tan BEIJING (Reuters) -Oil prices surged, with Brent breaching $100 a barrel for the first time since 2014 on Thursday as Russia attacked Ukraine, exacerbating concerns that a war in Europe could disrupt global energy supplies. After Russian President Vladimir Putin authorised what he called a special military operation, Ukraine's Foreign Minister Dmytro Kuleba said in a tweet that Russia had launched a full-scale invasion of Ukraine and was targeting cities with weapons strikes. Brent crude hit a high of $102.48 a barrel, the loftiest since September 2014, and was at $102.06 a barrel at 0547 GMT, up $5.22, or 5.4%. U.S. West Texas Intermediate (WTI) crude futures jumped $4.85, or 5.3%, to $96.95 a barrel, after rising to as much as $97.40, the highest since August 2014. Oil prices have surged more than $20 a barrel since the start of 2022 on fears that the United States and Europe would impose sanctions on Russia's energy sector, disrupting supplies. Russia is the world's second-largest oil producer, mainly selling its crude to European refineries, and is the largest supplier of natural gas to Europe, providing about 35% of the latter's supply. "Russia's announcement of a special military operation into Ukraine has pushed Brent to the $100/bbl mark," said Warren Patterson, head of ING's commodity research. "This growing uncertainty during a time when the oil market is already tight does leave it vulnerable, and so prices are likely to remain volatile and elevated," he added. Western nations and Japan on Tuesday punished Russia with new sanctions for ordering troops into separatist regions of eastern Ukraine, and threatened to go further if Moscow launched an all-out invasion of its neighbour. So far, there are no sanctions on energy trade. "It's not just geopolitical risk that is the problem but the further straining of supply," OCBC economist Howie Lee said. "Russian oil supply will disappear overnight if faced with sanctions ... and OPEC can't produce fast enough to cover this gaping hole." Some members of the Organization of the Petroleum Exporting Countries (OPEC) said there is no need for the group and its allies to increase output further as a potential deal between Iran and world powers will increase supplies. Some OPEC members are already struggling to meet current targets.[OPEC/O] Japan and Australia said on Thursday they were prepared to tap their oil reserves, together with other International Energy Agency (IEA) member countries, if global supplies were hit by hostilities in Ukraine. Analysts are also warning of inflationary pressure on the global economy from $100 oil, especially for Asia, which imports most of its energy needs. "Soaring oil prices come at an especially difficult time," HSBC economist Frederic Neumann said. "Asia's Achilles heel remains its vast import needs for energy, with surging oil prices bound to take a hefty bite out of income and growth over the coming year." The U.S. and Iran have been engaged in indirect nuclear talks in Vienna, in which a deal could lead to the removal of sanctions on Iranian oil sales and increase global supply. Iran on Wednesday however urged Western powers to be "realistic" in talks to revive the 2015 nuclear deal, and said its top negotiator was returning to Tehran for consultations, suggesting a breakthrough in its discussions is not imminent. Additionally, U.S. crude stockpiles rose 6 million barrels last week while distillate stocks fell, according to market sources who were citing American Petroleum Institute figures late on Tuesday. Ahead of government data on Thursday, analysts forecast a 400,000-barrel build in crude and a drawdown in fuel stockpiles. [EIA/S] Gasoline inventories rose by 427,000 barrels and distillates stockpiles fell by 985,000 barrels, the API data showed according to the sources, who spoke on condition of anonymity.

HSBC and IBM create successful multi-ledger CBDC demo https://cointelegraph.com/news/hsbc-and-ibm-create-successful-multi-ledger-cbdc-demo

By Marc Jones LONDON (Reuters) - World stocks marched back towards record highs on Thursday as surging inflation saw Britain and Norway hike interest rates and the ECB trim its super-sized bond buying programme a day after the U.S. Federal Reserve had accelerated its withdrawal. It was a jam-packed day. Turkey's lira took another bashing as its own central bank ploughed on with rate cuts. Omicron numbers were rocketing globally too, but for once this was not infecting the markets. The pan-European STOXX 600 index jumped 1.5%, led by tech, energy stocks. Record high Wall Street was also set to rise again [.N], while sterling and UK bank shares bother shot up after the BOE ended months of flirting with the idea and became the first G7 central back to hike rates, albeit by only 0.1%. Hussain Mehdi, Macro and Investment Strategist, HSBC Asset Management, said the 8-1 vote by BOE policymakers to raise rates was "fairly surprising" given the current surge in Omicron cases although there were solid reasons to do so. "The labour market is tight, and Omicron has the potential to exacerbate supply-side constraints in goods and labour," Mehdi said. "Ongoing upside inflation risks are likely to push the MPC (BOE) into further action in 2022." The Fed had laid out a scenario in which the pandemic, despite the Omicron surge, gives way to a benign set of economic conditions, with inflation easing largely on its own, interest rates increasing slowly, and unemployment staying low. "The economy no longer needs increasing amounts of policy support," Fed Chair Jerome Powell had said. "If the Fed moves (hikes interest rates next year), it will be okay as long as there is growth," said Barrow Hanley's Head of International Equities Rand Wrighton, referring to bets U.S. rates could go up three times before the end of 2022. Attention then turned to the ECB in Frankfurt which is also trying to balance support of a virus-threaten economy with the need to cut money printing to cool price rises. It said it would cut its bond purchases under its 1.85 trillion euro Pandemic Emergency Purchase Programme (PEPP) next quarter and wind down the scheme by March in a long-flagged move. It will, however, keeping reinvesting PEPP profits until the end of 2024 and ramp up the longer-running but more rigid Asset Purchase Programme (APP) to limit the withdrawal effects. "On balance, the new approach to quantitative easing (QE) is slightly dovish," Gurpreet Gill, Macro Strategist, Global Fixed Income, at Goldman Sachs (NYSE:GS) Asset Management, said. TURBULENT TURKEY Earlier Norway's central bank had also raised its main interest rate for the second time in three months and said more were likely, whereas the Swiss National Bank kept its rates locked at -0.75%. Sterling raced past $1.33 after the BOE's hike move having peaked for the year back in May at $1.4250. Shares in Britain's big banks like Barclays (LON:BARC) and Lloyds (LON:LLOY) jumped 5% on the presumption that they will now be able to push up lending rates. The euro was soft peddling at just below $1.13 after forward-looking euro zone purchasing manager data had come in weaker than expected earlier. Europe is facing a fourth wave of infections and many governments have been encouraging citizens to stay home and avoid unnecessary social contact. IHS Markit's Flash Composite Purchasing Managers' Index, a good indicator of overall economic health, dropped to 53.4 in December from 55.4 in November, its lowest since March and below the 54.0 predicted in a Reuters poll. That headline number was dragged down by the services PMI, which sank to an eight-month low of 53.3 from 55.9. While above the 50-mark separating growth from contraction it missed the Reuters poll estimate for 54.1. "The euro zone economy is being dealt yet another blow from COVID-19, with rising infection levels dampening growth in the service sector in particular to result in a disappointing end to 2021," said Chris Williamson, chief business economist at IHS Markit. It wasn't looking like a good Christmas for Turkey either. The lira dropped nearly 4% to an all-time low beyond 15 against the dollar after another 100 basis point interest rate cut by the central bank, which has fallen in line with President Tayyip Erdogan's risky new economic programme. "We exited local markets in September - we went to zero," said Aegon (NYSE:AEG) Asset Management's head of emerging market debt Jeffery Grills, blaming the direction the country's economic and monetary policies were now taking. The lira has halved in value this year, and worries are mounting about what could happen if low rates and stimulus ahead of presidential elections in 2023 continue to ramp up inflation which is already above 20%. "The accompanying statement suggests that the easing cycle will be on pause early next year but, even so, the lira will remain under pressure and capital controls are likely," said Jason Tuvey at Capital Economics. Things were far smoother in the commodity markets. Oil rose to $75 supported by record U.S. implied demand and falling crude stockpiles [O/R], while cooper which is highly sensitive to the health of the global economy rebounded 2.2% after falls on Wednesday has taken its losses since October past 11%.

**@CNBC:** HSBC names the big market risks next year and says stock returns will be squeezed https://t.co/15mgn7iBqu https://twitter.com/CNBC/status/1471445205706588166

Wells Fargo partners with HSBC to settle FX transactions using blockchain https://cointelegraph.com/news/wells-fargo-partners-with-hsbc-to-settle-fx-transactions-using-blockchain

Wells Fargo, HSBC to Settle Forex Transactions Using Blockchain https://www.coindesk.com/business/2021/12/13/wells-fargo-hsbc-to-settle-forex-transactions-using-blockchain/

`Investors` **@WSJmarkets:** HSBC, Credit Suisse, Barclays and NatWest were fined close to $400 million for manipulating the foreign-currency market including through a chat room dubbed “Sterling Lads” https://t.co/dUXwtFc7Oo https://twitter.com/WSJmarkets/status/1466384317945462793

`Investors` **@CNBC:** Barclays, RBS, HSBC, Credit Suisse and UBS fined for taking part in forex trading cartel https://t.co/Hr0SeNYthY https://twitter.com/CNBC/status/1466370821266542597

UK Market Friday finished in the red, led by losses in travel sector stocks, on concerns over the new Covid variant found in South Africa. IQE declined 9.0%, after a top broker downgraded its rating on the stock to 50.0p from 60.0p. HSBC Holdings dropped 6.7%. The company announced that it has appointed Deutsche Bank South Africa country head, Muneer Ismail, to run its operations in the country. Diageo eased 3.9%, after the beverage company announced that it has initiated the next tranche of its return of capital program. Checkit slid 2.1%. The software company announced its plans to raise £21 million through a placing to accelerate its strategy and strengthen its product offering. Aquis Exchange shed 1.5%, after the exchange services group announced the appointment of Glenn Collinson to succeed chair, Niki Beattie, on 1 January 2022. The FTSE 100 declined 3.6%, to close at 7,044.0, while the FTSE 250 fell 3.2%, to end at 22,537.9 . European Market European was also sharply lower on Friday, as the new coronavirus variant raised concerns that the pandemic could continue to affect the global economy. Infineon Technologies dropped 4.2%, after the semiconductor company announced that it has hired Jochen Hanebeck as its new Chief Executive Officer, with effect from 1 April. On the other hand, Novacyt surged 28.7%, after the government approved a Covid-19 test developed by the company and on improved annual revenue guidance. Sartorius Stedim Biotech climbed 7.2%, following news that the group would expand its capacities for production, innovation, and storage at its French facilities in Aubagne, Cergy and Lourdes to meet the strong demand of the biopharmaceutical industry. The FTSEurofirst 300 index slipped 3.7%, to settle at 1,796.1. The German DAX Xetra plunged 4.2%, to settle at 15,257.0, while the French CAC-40 plummeted 4.8%, to close at 6,739.7. . US Market continued the flow lower on Friday, on fears over spread of the new coronavirus variant. Boeing declined 5.4%, after reports revealed that its bid to sell fighter jets to Canada did not meet the government’s requirements. Micron Technology dropped 3.2%, after the company and United Microelectronics withdrew intellectual property complaints against each other. Tesla fell 3.1%, on reports that the company would invest $188 million to expand production capacity at its Shanghai factory. Microsoft shed 2.4%, after the company’s Chief Executive Officer, Satya Nadella, revealed the sale of 839,000 shares in an SEC filing, leaving him with ownership of 831,000 shares following that transaction. On the flipside, Merck dropped 3.8%, after the drugmaker’s experimental Covid-19 pill, molnupiravir, showed a lower efficacy rate in the updated data. The S&P 500 slipped 2.3%, to settle at 4,594.6. The DJIA fell 2.5%, to settle at 34,899.3, while the NASDAQ shed 2.2%, to close at 15,491.7. . Asian Market Asia open up trading lower this morning, amid concerns about newly discovered omicron Covid variant. In Japan, Showa Denko and Ricoh have dropped 4.5% and 4.6%, respectively. Meanwhile, NEC and SCREEN Holdings have risen 1.0% and 1.3%, respectively. In Hong Kong, Shenzhou International Group Holdings and China Merchants Bank have fallen 1.4% and 1.5%, respectively. Meanwhile, Tencent Holdings and Budweiser Brewing Co. APAC have added 1.0% and 1.2%, respectively. In South Korea, T'way Air and Sewon E&C have declined 6.9% and 7.1%, respectively. Meanwhile, Kumho and SK Telecom have climbed 7.1% and 8.6%, respectively. The Nikkei 225 index is trading 0.6% lower at 28,577.4. The Hang Seng index is trading 0.5% down at 23,956.4, while the Kospi index is trading 0.5% lower at 2,921.5.

Buon giorno Renato, leggevo stamattina questo articolo su tim che trovo interessante https://www.milanofinanza.it/news/riduzione-del-debito-ora-piu-difficile-hsbc-boccia-tim-a-reduce-titolo-in-coda-al-ftse-mib-202111081230127492

By Katanga Johnson and Lawrence White WASHINGTON/LONDON (Reuters) - U.S. and European shares resumed their rally and the dollar index hit a one-year peak on Friday as U.S. jobs data surprised on the upside. Nonfarm payrolls increased by 531,000 jobs last month as the surge in COVID-19 infections over the summer subsided, offering more evidence that U.S economic activity was regaining momentum early in the fourth quarter. The dollar index, which measures the greenback against a basket of six rivals, rose as high as 94.634 after the jobs report, its highest level since Sept. 25, 2020. The greenback, which has strengthened around 1% in the past fortnight, was last up 0.22% at 94.534. "If these numbers continue at this pace, we could probably see full employment at the end of the first quarter," Peter Cardillo, chief market economist at Spartan Securities, said. The Dow Jones Industrial Average rose 0.75 while the S&P 500 gained 0.71%. The Nasdaq Composite added 0.58%. The pan-European STOXX 600 index rose 0.33%. MSCI's gauge of stocks across the globe gained 0.43%, keeping pace to continue a four-day streak of record closing highs in a week in which central banks around the world refrained from hawkish surprises. Friday's advances came even after the U.S. Federal Reserve finally announced on Wednesday that it would begin tapering its massive asset purchase programme, though Fed Chair Jerome Powell said he was in no rush to hike borrowing costs. "Even though it transpired as expected, it is a significant milestone. The direction of travel is now clearly towards policy normalisation, though the Fed emphasised that tapering is not tightening," said Stefan Hofer, chief investment strategist for LGT in Asia Pacific. "It was really expert communication and very well handled." In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan closed 0.24% lower, while Japan's Nikkei lost 0.61%. Hong Kong had weighed on the regional index, falling 1.25% as index heavyweight and rate-sensitive HSBC fell 3.6% following a dovish call from the Bank of England (BoE) and anxiety over property stocks. Trading in shares of Chinese developer Kaisa Group Holdings Ltd was suspended a day after the company said a subsidiary had missed a payment on a wealth management product, the latest sign of a deepening liquidity crisis in the Chinese property sector. An index tracking Hong Kong-listed mainland Chinese developers slipped 2.8%, and an onshore China property index lost 2%. More broadly, Shanghai shares lost 1% and Chinese blue chips slipped 0.5%. "MISLEADING SIGNALS" While investors were happy with the Fed's communications, several felt that they had been misdirected by policymakers at the BoE. The Bank of England kept interest rates on hold on Thursday, wrong-footing investors who had been convinced that it would be the first of the world's big central banks to raise borrowing costs after the pandemic. On Friday, the pound was near a month low having tumbled 1.36% the previous day following the central bank's decision, which also roiled bonds in Britain and across Europe more broadly. Germany's 10-year bond yield looked set for its biggest weekly drop since June last year, down 15 basis points as central banks left policy rates unchanged. Oil prices rose, staging a partial recovery after OPEC+ producers rebuffed a U.S. call to raise supply and instead maintained plans for a gradual return of output halted by the coronavirus pandemic. U.S. crude recently rose 1% to $79.60 per barrel and Brent was at $81.13, up 0.73% on the day, above month lows hit a day earlier following a report that Saudi Arabia's output would soon surpass 10 million barrels per day for the first time during the COVID-19 pandemic.[O/R] Spot gold added 0.4% to $1,797.90 an ounce.

By Alun John HONG KONG (Reuters) - Asian shares failed to latch on to a global record-setting rally on Friday, held back by Chinese property stocks, while the dollar stood tall following a week in which central banks around the world refrained from any hawkish surprises. The U.S. currency made solid strides against sterling, which took a beating after the Bank of England confounded markets by passing up a chance to raise interest rates on Thursday. MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.14% and was flat on the week, while Japan's Nikkei fell 0.7%, albeit from a month high reached the day before, as manufacturers' earnings disappointed. (T) In contrast, share markets globally are in strong form and MSCI's gauge of stocks across the world hit an all-time high on Thursday, posting its fourth consecutive record closing high. The world benchmark was flat in Asian hours, while U.S and European futures were steady, with pan-region Euro Stoxx 50 futures gaining 0.08% and U.S. S&P 500 e-minis unchanged. The gains came even after the U.S. Federal Reserve on Wednesday finally announced that it would begin tapering its massive asset purchase programme, though Fed Chair Jerome Powell said he was in no rush to hike borrowing costs. "Even though it transpired as expected, it is a significant milestone, the direction of travel is now clearly towards policy normalisation, though the Fed emphasised that tapering is not tightening," said Stefan Hofer, chief investment strategist for LGT in Asia Pacific. "It was really expert communication and very well handled" Hofer said U.S. jobs data would remain in focus in the coming months as that would influence upcoming decisions from the Fed. U.S. payroll data for October is due later on Friday. Back in Asia, Hong Kong weighed on the regional index, falling 1.25%, pressured by index heavyweight HSBC as the rate sensitive bank's shares tumbled 5%, hurt by the BoE's dovish call, as well as by property stocks. Also in Hong Kong, trading in shares of Chinese developer Kaisa Group Holdings Ltd was suspended, a day after the company said a subsidiary had missed a payment on a wealth management product, the latest sign of a deepening liquidity crisis in the Chinese property sector. An index tracking Hong Kong listed mainland Chinese developers slipped 2.4 %, and an onshore China property index lost 2%. More broadly, Shanghai shares lost 0.6% though Chinese blue chips slipped 0.3%. While investors were happy with the Fed's communications, several felt that they had been misdirected by policymakers at the BoE, which surprised markets by deferring an interest rate hike at a meeting Thursday. On Friday, the pound was nursing its wounds near a month low having tumbled 1.36% the previous day following the central bank's decision, which also roiled bonds in Britain and across Europe more broadly. The dollar index last stood at 94.327, within sight of October's 12-month highs, after the U.S. currency also gained ground on the euro. Alongside the moves in European government bonds, the U.S. yield curve steepened on Thursday and U.S. benchmark 10-year yields dropped to 1.509%, their lowest level since mid-October. Yields later recovered some ground, and 10-year notes last yielded 1.5386%. Oil reversed course and gave up some of Friday's early gains. U.S. crude rose 0.34% to $79.05 a barrel, while Brent crude lost 0.1% to $80.44 per barrel, back near month lows hit a day earlier following a report that Saudi Arabia's output would soon surpass 10 million barrels per day for the first time during the COVID-19 pandemic.[O/R] Spot gold tacked on 0.1% as the falling yields provided support to the non-interest bearing asset.

UK Market Closed higher yesterday, supported by gains in mining and energy sector stocks. Plus500 advanced 2.7%, after the trading platform announced that its annual revenue and earnings surpassed analysts’ expectations. Weir Group added 2.4%, after a top broker upgraded its rating on the stock to ‘Outperform’ from ‘Neutral’. HSBC Holdings rose 1.9%, after the lender reported stronger than expected profits in the third quarter and revealed plans for a share buyback. Bellway edged up 1.4%, following news that Chairman Paul Hampden Smith acquired 3,154 ordinary shares in the housebuilder. On the other hand, Petropavlovsk fell 1.5%, after the miner reported a drop in its gold production in the third quarter. ITV shed 1.1%, following reports that the company would acquire Channel 4. The FTSE 100 gained 0.3%, to close at 7,222.8, while the FTSE 250 marginally rose to end at 22,941.8. . Europe Market Also higher yesterday, amid strong corporate earnings reports.SSAB climbed 6.2%, after the steelmaker reported better than expected earnings in the third quarter. Exor advanced 5.8%, following reports that the company is in talks regarding the sale of PartnerRe to French mutual insurer, Covea. Banco de Sabadell added 2.8%, after the company announced rejected an offer from the Co-op for the British banking chain. Zooplus rose 0.7%, after Hellman & Friedman partnered with EQT Private Equity to launch an improved cash offer for the company valuing it at €3.7 billion. On the flipside, UniCredit fell 1.7%, after the bank and the Italian government put an end to talks over the sale of Monte dei Paschi di Siena. The FTSEurofirst 300 index gained 0.1%, to close at 1,829.0. Among other European markets, the German DAX Xetra 30 rose 0.4%, to close at 15,599.2, while the French CAC-40 dropped 0.3%, to settle at 6,712.9. . US Market Closed higher yesterday, ahead of quarterly earnings results from big technology companies. Tesla jumped 12.7%, following news that car rental firm Hertz placed an order for 100,000 electric vehicles to build out an EV rental fleet by the end of 2022. PayPal Holdings gained 2.7%, after the payments company scrapped its plans to buy Pinterest Inc for as much as $45 billion. On the other hand, Otis Worldwide dropped 4.4%, even though the company reported stronger than expected revenue and earnings in the third quarter. Whirlpool fell 2.4%, after a top broker downgraded its raring on the stock to ‘Underperform’ from ‘Sector Perform’. Kimberly-Clark shed 2.2%, after the company reported lower than expected earnings in the third quarter. The S&P 500 gained 0.5%, to settle at 4,566.5. The DJIA rose 0.2%, to settle at 35,741.2, while the NASDAQ advanced 0.9%, to close at 15,226.7. . Asia Market We’re trading mostly higher this morning, tracking overnight gains on Wall Street. In Japan, SCREEN Holdings and TDK have advanced 3.8% and 4.5%, respectively. Meanwhile, Toho and Nikon have dropped 0.6% and 3.4%, respectively. In Hong Kong, Alibaba Group Holding and Sino Biopharmaceutical have fallen 2.4% and 2.9%, respectively. Meanwhile, Li Ning and BYD have risen 1.6% and 3.6%, respectively. In South Korea, NK Mulsan and Jico have climbed 6.8% and 29.7%, respectively. Meanwhile, Choheung and Hitron Systems have declined 4.2% and 5.7%, respectively. The Nikkei 225 index is trading 1.7% higher at 29,100.6. The Hang Seng index is trading 0.4% down at 26,017.9, while the Kospi index is trading 0.6% higher at 3,038.8.

By Alun John HONG KONG (Reuters) - Asian shares held recent gains on Monday ahead of a week packed with major quarterly earnings announcements, while news of trials of a property tax in China and ongoing troubles in the sector weighed on markets in Hong Kong and mainland China. MSCI's broadest index of Asia-Pacific shares outside Japan was little changed - 0.07% higher - and still up 3.8% so far in October, while Japan's Nikkei lost 0.7% on softer earnings by several local companies. Futures pointed to a solid open in European markets with the pan-region Euro Stoxx 50 futures up 0.24% in early trade and FTSE futures 0.26% higher. U.S. stock futures, the S&P 500 e-minis, gained 0.12%. In Asia, the regional benchmark was dragged down by muted performances in Chinese markets with property firms weighing heavily. Chinese blue chips inched down 0.12%, and an real estate index shed 3%, while the Hong Kong benchmark traded flat despite a 3.4% fall in an index of Hong Kong listed mainland property firms. The property stock declines followed a Saturday announcement by China's parliament's top decision-making body that will roll out a pilot real estate tax in some regions. Embattled developer China Evergrande Group last week appeared to avert a costly default with a last-minute bond coupon payment, and Reuters reported Monday that some bond holders had received payment. "Although we had some news on the Evergrande front, I think we will see more pressure on the property sector, especially the smaller guys," said Carlos Casanova Asia senior economist at UBP pointing to authorities’ efforts to ensure a correction in house prices, and the expansion of plans for a pilot property tax at a time when many property companies had bonds maturing in the coming months. Also on investors' minds is a string of company earnings due this week. Hong Kong listed shares of HSBC, pared earlier gains to be last up 0.1% even after Europe's second largest bank by assets reported a surprise 74% rise in third quarter profit. Facebook (NASDAQ:FB) will publish its quarterly results later on Monday, with other benchmark heavyweights due later in the week including tech giants Microsoft (NASDAQ :MSFT), Apple (NASDAQ:AAPL) and Alphabet (NASDAQ:GOOGL), and European and Asian financial behemoths from Deutsche Bank (DE: DBKGn) and Lloyds (LON:LLOY) to China Construction Bank (OTC :CICHF) and Nomura. The risk friendlier mood that supported equities has weighed on safe-haven currencies, as have rising energy prices which supported currencies including the Aussie and Canadian dollars. The dollar index was last at 93.532, down 0.14% on the day, having earlier touched a one month low of 93.483. Traders are waiting for U.S. third quarter GDP figures due Thursday with a weak print likely to weigh on the dollar, according to analysts at CBA, while expectations that rising inflation will drive interest rate hikes in the U.K and Australia have been supporting sterling and the Aussie dollar. Markets are still trying to position themselves for a widely expected tapering of the U.S. stimulus programme this year, and the possibility of rate hikes late in 2022 Federal Reserve Chair Jerome Powell on Friday said the U.S. central bank should start the process of reducing its support of the economy by cutting back on its asset purchases, but should not yet touch interest rates. As tapering looms, U.S. benchmark yields have been rising and yields on 10-year Treasury notes hit a five-month high of 1.7064% last week. They were last 1.6449%. Oil prices rose further on Monday, with U.S. crude hitting a seven-year high as global supply remained tight amid strong demand worldwide. Brent crude rose 0.83% to $86.24 a barrel, while U.S. crude rose 0.80% to $84.51 Spot gold rose 0.36% to $1,798 an ounce after posting gains for the past two weeks on rising inflation concerns, ad the weakening dollar. Bitcoin another asset oft-described as an inflation hedge was last at $62,000 up 1.8% after last week's turbulent trade when it hit a new high of $67,016.

By Alun John HONG KONG (Reuters) - Asian shares held onto gains on Friday, and were set to snap a four week streak of weekly losses as Chinese markets came back a bit more positive after a long holiday, encouraged by a survey showing services sector activity improving. In the bond market, the U.S. Senate's approval legislation to temporarily raise the federal government's debt limit sparked a sell-off which saw U.S. Treasuries benchmark yields rise to their highest since June ahead of key jobs data. Japan's Nikkei index advanced 1.8%, and MSCI's broadest index of Asia-Pacific shares outside Japan traded either side of flat, last up 0.03%, but set to gain 0.6% on the week, its best week in a month thanks to gains on Thursday. U.S. 500 S&P futures were flat and pan-region Euro Stoxx 50 futures shed 0.1%, also suggesting yesterday's global rally is petering out. The Asian benchmark was supported by advances in Chinese blue chips which rose 1.07% as trading resumed after the week-long National Day holiday. The improved sentiment partly stemmed from a private-sector survey that showed China's services sector activity returned to growth in September. Over the past three months, Chinese shares have been battered by regulatory changes, turmoil in the property sector, and more recently a power crunch, but some investors are now starting to see a buying opportunity. "The debate on China is shifting a bit away from being very negative. People are asking 'Is there a way beyond the regulatory uncertainty? How much of this is reflected in prices?'," said Herald van der Linde (NYSE:LIN), Asia Pacific head of equity strategy at HSBC. "We're neutral, we tell people not to be too negative because valuations are low." However, bonds and shares issued by Chinese property firms slumped on Friday with no sign in sight of a resolution to cash-strapped China Evergrande Group's debt problems which is affecting sentiment in the broader sector. Elsewhere, Australian shares rose 0.84%, helped by mining stocks amid surging commodities prices, but Hong Kong fell 0.26%. Also supporting risk sentiment was the U.S. Senate's approval of legislation to temporarily raise the federal government's debt limit and avoid the risk of a historic default. This sparked a sell off in U.S. government bonds, and 10-year U.S. Treasury yields rose to as high as 1.5940% in early Asian trade, their highest since mid June when they touched the same level. They were last at 1.5925%. Traders are also waiting for U.S. payroll data for September due out later in the global day. They expect employment figures that are near consensus will lead the Federal Reserve to indicate at its November meeting when it will begin tapering its massive stimulus program. CBA analysts said it was possible the jobs data could surprise on the downside, but "we think it would take a larger miss than we are anticipating to stop the [Federal Reserve] from announcing a taper in November." They said a strong payrolls print would support the U.S. dollar because it would signal an imminent taper. While traders waited for those figures, the dollar index, which measures the greenback against a basket of its peers, was little changed at 94.278, not too far from a 12-month high of 94.504 hit in late September, It gained slightly against the yen, buying 111.87 yen. Oil prices continued to be volatile, gaining on signs some industries have begun switching fuel from high-priced gas to oil and on doubts the U.S. government would release oil from its strategic reserves for now. Brent crude rose 1.2% to $82.94 a barrel, heading back towards a three-year high of $83.47 touched earlier in the week, while U.S. crude gained 1.39% to $79.38 a barrel approaching its seven-year high of $79.78 also touched this week. [O/R]

By Anshuman Daga and Andrew Galbraith SINGAPORE/SHANGHAI (Reuters) - China Evergrande agreed to settle interest payments on a domestic bond on Wednesday, while the Chinese central bank injected cash into the banking system, soothing fears of imminent contagion from the debt-laden property developer. Evergrande, Asia's biggest junk bond issuer, is so entangled with China's broader economy that its fate has kept global stock and bond markets on tenterhooks as late debt payments could trigger so-called cross-defaults. Many financial institutions have exposure to Evergrande through direct loans and indirect holdings, while any defaults will also trigger sell-offs in the high-yield credit market. In an effort to reassure investors, the People's Bank of China's injected 90 billion yuan to the banking system, signalling support for markets as they braced for what is expected to be one of China's largest-ever debt restructurings. Evergrande is scrambling to avoid defaulting on a number of bonds with payments due this week and its main unit, Hengda Real Estate Group, said on Wednesday it had "resolved" one coupon payment due on Thursday on its Shenzhen-traded 5.8% September 2025 bond, via "private negotiations". It did not specify how much interest would be paid or when, nor did Hengda mention Evergrande's other pressing debts, leaving it unclear what this means for $83.5 billion in dollar bond interest payments due on Thursday. Evergrande did not immediately respond to questions about its deal or its intentions. But engagement with bondholders, a common way to avoid default, on top of chairman Hui Ka Yuan's vow this week that Evergrande would "walk out of its darkest moment," cheered investors and soothed markets more broadly. "These events seem to suggest that the company is taking control of the situation and is trying its best to work out a solution with creditors," Singapore-based Dexter Tan, a senior fixed income analyst at Bondsupermart.com, said. Evergrande, which epitomised the borrow-to-build business model and was once China's top-selling developer, also has a $47.5 million dollar-bond interest payment due next week. "We do not have a clearer picture as how Evergrande settled its onshore coupon," Singapore-based Chuanyo Zhou, a credit analyst at Lucror Analytics, said. "It doesn't look like a cash payment. It may still miss the coupon on offshore bonds due tomorrow." Evergrande's Hong Kong shares did not trade due to a public holiday but rose 40% in Frankfurt to 0.38 euros ($0.45). Its dollar bonds maturing next year and in 2024 remained below 30 cents on the dollar. In the wider market, the U.S. dollar slipped and S&P 500 futures rose in Asia and European trade. [MKTS/GLOB] BREAKDOWN Analysts have been downplaying the risk that a collapse threatens a "Lehman moment", or liquidity crunch, which freezes the financial system and spreads globally. Only some $20 billion of $305 billion outstanding debts is owed offshore, according to Refinitiv data. But the risk of failure remains high, particularly if offshore bondholders are less willing than those in China to cut deals, and the fallout has already begun to trigger tremors in the property market of the world's second-largest economy. "Developers there have long claimed that the success of their business is driven by the three carriages: high turnover, high gross profit, and high leverage," said Michael Pettis, a nonresident senior fellow at the Carnegie–Tsinghua Center for Global Policy, in a blog post. "But all of these proverbial carriages are breaking down as the effects of Evergrande's crisis spread." There is also mounting political pressure to act as the anger of retail investors with their savings sunk in Evergrande properties or wealth management products swells. Asked at a regular daily briefing on Wednesday whether China would take measures to intervene, foreign ministry spokesman Zhao Lijian only referred to the "responsible departments". Despite the risks, some funds have been increasing their positions in recent months. BlackRock (NYSE:BLK) and investment banks HSBC and UBS have been among the largest buyers of Evergrande's debt, Morningstar https://www.morningstar.hk/hk/news/215418/whos-buying-evergrandes-bonds.aspx?lang=en-hk data and a blog post showed. Other bondholders include UBS Asset Management and Amundi, Europe's largest asset manager. ($1 = 6.4665 Chinese yuan)($1 = 0.8524 euros)

NEW YORK/HONG KONG (Reuters) -China Evergrande Group's main unit said on Wednesday it would make a coupon payment on its domestic bonds on Sept. 23, offering some relief to jittery markets that had been on edge over fears that a default of China's No. 2 developer could ripple through the global financial system. Hengda Real Estate Group said in a statement it would make the coupon payment on its Shenzhen-traded 5.8% September 2025 bond on time on Sept. 23. The announcement comes as Evergrande, once the country's top-selling developer, inches closer to a key deadline for an interest payment on a dollar bond, with financial markets tense even as investors and analysts played down the threat of its troubles becoming the country's "Lehman moment." Hengda Real Estate's coupon payment totals 232 million yuan ($35.88 million), according to Refinitiv data. "We are still trying to understand what this payment means for the other bonds but I imagine they would want to stabilise the market and make other coupon payments, given the close scrutiny," said a source familiar with the situation who declined to be identified as they are not authorised to speak to the media. U.S. stock futures, the yuan and the risk-sensitive Australian dollar rose, while safe-haven assets such as the yen and U.S. Treasuries slipped. Evergrande is set to make its onshore bond payment on time, but the developer has not indicated whether it will be able to pay $83.5 million in interest due on its March 2022 bond on Thursday. It has another $47.5 million payment due on Sept. 29 for March 2024 notes. Both bonds would default if Evergrande fails to settle the interest within 30 days of the scheduled payment dates. Trade in Evergrande's onshore exchange-traded bonds has been halted since Sept. 16, when Hengda Real Estate applied to suspend trading for a day. While trading technically resumed on Sept. 17, it now only takes place through negotiated transactions in what traders said was an attempt to curb volatility. While concerns about the spillover from a messy collapse roiled markets on Monday, U.S. stocks were flat on Tuesday and Chinese shares fell in early trade after a two-day public holiday. But China's property index recovered losses and was up more than 3%, while banking stocks were down around 3%. Evergrande is so deeply intertwined with China's broader economy - from retail investors to infrastructure-related firms that are a gauge for global commodities demand - that fears over contagion have kept financial markets on tenterhooks. "There's been a fair bit of concern about the possibility of contagion," analysts at New York-based Bespoke wrote in a research note on Tuesday. "But so far that concern isn't showing up in parts of the credit markets that have served well as red flags for broader credit crunches in the past." Evergrande missed interest payments due Monday to at least two of its largest bank creditors, Bloomberg reported https://www.bloomberg.com/news/articles/2021-09-21/evergrande-misses-loan-payments-to-banks-as-bond-deadlines-loom on Tuesday, citing people familiar with the matter. The missed payments had been expected as China's housing ministry had said that the company would be unable to pay on time, Bloomberg said. As investors and policymakers around the world tried to assess the potential fallout, Securities and Exchange Commission (SEC) Chair Gary Gensler said the U.S. market is in a better position to absorb a potential global shock from a major company default than it was before the 2007-2009 financial crisis. FED MEETING Fed Chair Jerome Powell will likely be asked about the fallout from Evergrande when he speaks after the Fed's two-day meeting that wraps up on Wednesday at 2 p.m. ET. (1800 GMT). Despite the looming default, some funds have been increasing their positions in recent months. Fund giant BlackRock (NYSE:BLK) and investment banks HSBC and UBS have been among the largest buyers of Evergrande's debt, Morningstar https://www.morningstar.hk/hk/news/215418/whos-buying-evergrandes-bonds.aspx?lang=en-hk data and a blog post showed. Other bondholders include UBS Asset Management and Amundi, Europe's largest asset manager. In any default scenario, Evergrande, teetering https://www.reuters.com/world/china/chinas-house-cards-evergrande-threatens-wider-real-estate-market-2021-09-14 between a messy meltdown, a managed collapse or the less likely prospect of a bailout by Beijing, will need to restructure the bonds, but analysts expect a low recovery ratio for investors. S&P Global (NYSE:SPGI) Ratings said on Monday it believed the Chinese government would only act in the event of a far-reaching contagion posing systemic risks to the economy. "I would characterise Evergrande as a telegraphed and controlled detonation," said Samy Muaddi, the portfolio manager of the $5.1 billion T. Rowe Price Emerging Markets Bond fund, who does not have a position in the company. BNP Paribas (OTC:BNPQY) estimated in a research note that less than $50 billion of Evergrande's $300 billion outstanding debt is financed by bank loans, suggesting the Chinese banking sector will have a sufficient buffer to absorb potential bad debts. Citigroup Inc (NYSE:C) subsidiaries serve as trustee and payment agent for a China Evergrande bond that matures in March 2022 and has $83.5 million in interest coming due on Thursday. "We do not have any direct lending exposure to Evergrande; our indirect exposure through counterparty credit risk is small and with no single significant concentration," Citigroup spokesperson Danielle Romero-Apsilos said in an email on Tuesday. She declined to comment on Evergrande's scheduled payments. Evergrande's Hong Kong-listed shares fell as much as 7% on Tuesday, having tumbled 10% the previous day, on fears its $305 billion in debt could trigger widespread losses in China's financial system in the event of a collapse. The Hong Kong stock market was closed on Wednesday for a holiday.

Wen es interessiert wer so alles die Finger im Spiel hat bei Evergrande, hier ein paar Unternehmen. :) BlackRock HSBC UBS Royal Bank of Canada Goldman Sachs DekaBank Union Investment Lux Credit Agricole BNP Paribas Allianz AXA

UK Markets Closed somewhat mixed yesterday. International Consolidated Airlines Group declined 2.5%, after the European Union recommended to put a break on all non-essential travel from the US, amid rising Covid cases. HSBC Holdings dropped 2.2%. Reports emerged that the lender is in advanced talks with L&T Financial Holdings to purchase its Indian firm’s mutual fund arm. Bunzl edged down 1.6%, after the business supplies distributor announced that it was facing supply chain disruptions, product and labour shortages in some of its markets. On the flipside, Weir Group climbed 3.8%, after a top broker upgraded its rating on the stock to ‘Buy’ from ‘Hold’. Computacenter rose 1.9%, after the company issued an upbeat profit forecast for the full year. The FTSE 100 fell 0.4%, to close at 7,119.7, while the FTSE 250 advanced 0.2%, to end at 24,102.2. . European Markets Closed lower yesterday, amid concerns over rising inflation. Vivendi fell 1.9%. The company announced that it would sell an additional 2.9% stake of Universal Music Group to Pershing Square for $1.15 billion. On the other hand, Prosus climbed 6.4%, after the technology company agreed to acquire Indian payments platform, BillDesk, for a consideration of $4.7 billion. Medivir advanced 4.0%, after the biotech company received an approval from the British Medicines & Healthcare products Regulatory Agency for the phase 1/2a combination study with MIV-818 to treat liver cancer. Delivery Hero added 3.6%, after the online food-delivery service reported a jump in orders from its Korean subsidiary, Woowa. The FTSEurofirst 300 index slipped 0.4%, to close at 1,813.6. Among other European markets, the German DAX Xetra 30 fell 0.3%, to close at 15,835.1, while the French CAC-40 dropped 0.1%, to settle at 6,680.2. . US Markets Also closed lower yesterday, erasing its previous session gains. Zoom Video Communications tumbled 16.7%, after the software company reported a slowdown in its revenue growth in the second quarter. Chico’s Fas declined 11.5%, despite reporting stronger than expected revenue and earnings in the second quarter. Designer Brands dropped 8.3%, even though the company’s second quarter revenue and earnings surpassed analysts’ expectations. Square fell 1.4%. Reports emerged that the company is planning to introduce a new paid version of its invoicing software called Invoices Plus. On the other hand, Moderna rose 1.6%, following news that the drugmaker’s Covid-19 vaccine produced more than twice the number of antibodies as the Pfizer-BioNTech vaccine. Textron added 1.0%, after a broker upgraded its rating on the stock to ‘Outperform’ from ‘Market Perform’. The S&P 500 slipped 0.1%, to settle at 4,522.7. The DJIA fell 0.1% to settle at 35,360.7, while the NASDAQ marginally dropped to close at 15,259.2. .

UK Markets Finished lower yesterday, amid concerns over surging global Covid-19 cases and amid China’s regulatory crackdown. Polymetal International fell 3.6%, even though the gold and silver miner raised its capital expenditure forecast for the year by more than 20%. Barclays slid 0.3%. The lender announced that it would invest around $400.0 million in India to boost its banking activity in the country. On the flipside, Hays advanced 4.1%, after the recruiter announced that it would resume its dividend payments, amid strong recovery in annual fee and profit growth. CRH rose 3.9%, after the building materials supplier reported upbeat interim results and lifted its second half profit outlook. Mediclinic International edged up 1.9%, after a top broker upgraded its rating on the stock to ‘Buy’ from ‘Hold’. The FTSE 100 slipped 0.4%, to close at 7,125.0, while the FTSE 250 fell 0.1%, to settle at 23,952.4. . European Markets Finished lower yesterday, after Germany’s consumer confidence weakened. DWS Group plunged 13.7%, amid reports that the company is under probe by the US authorities over sustainability claims. Delivery Hero fell 3.2%, after the company reported that its net losses widened in the first half of the year. On the other hand, Bouygues rose 1.1%, as the industrial group lifted its earnings outlook for the full year, after reporting upbeat results in the first half of the year. Aareal Bank edged up 0.7%, after the lender announced that it has concluded a financing agreement providing a loan of €312.5 million to real estate investor and developer, Ghelamco Group. The FTSEurofirst 300 index slipped 0.3%, to close at 1,812.9. Among other European markets, the German DAX Xetra 30 fell 0.4%, to close at 15,793.6, while the French CAC-40 dropped 0.2%, to settle at 6,666.0. . US Markets Closed lower yesterday, amid concerns over ongoing political unrest in Afghanistan and fears of a potential shift in US Federal Reserve (Fed) policy. Dollar Tree plunged 12.1%, after the discount retailer reported lower than expected revenue in the second quarter. Abercrombie & Fitch declined 10.4%, after apparel retailer’s second quarter revenue came in below analysts’ estimates. Dollar General dropped 3.8%, after the discount retailer forecasted lower than expected earnings for the full year. On the other hand, Coty surged 14.7%, after reporting better than expected sales in the fourth quarter. Williams-Sonoma climbed 9.3%, after the company reported stronger than expected revenue and earnings in the second quarter. Salesforce.com rose 2.7%, after the company’s second quarter revenue and earnings surpassed analysts’ forecast. The S&P 500 slipped 0.6% to settle at 4,470.0. The DJIA fell 0.5% to settle at 35,213.1, while the NASDAQ dropped 0.6%, to close at 14,945.8. . Asian Markets Were trading higher this morning. In Japan, Aeon and Ebara have dropped 2.0% and 2.2%, respectively. Meanwhile, Tokai Carbon and Yamaha Motor have advanced 2.2% and 3.0%, respectively. In Hong Kong, Xinyi Solar Holdings and Geely Automobile Holdings have risen 2.2% and 3.4%, respectively. Meanwhile, HSBC Holdings and Galaxy Entertainment Group have fallen 0.7% and 1.9%, respectively. In South Korea, Motonic and Pyung Hwa Holdings have climbed 13.3% and 17.5%, respectively. Meanwhile, YG PLUS and NCsoft have declined 5.2% and 5.4%, respectively. The Nikkei 225 index is trading marginally higher at 27,733.1. The Nikkei 225 index is trading 0.3% lower at 27,651.5. The Hang Seng index is trading 0.6% up at 25,564.2, while the Kospi index is trading 0.1% higher at 3,133.2. . Commodity Brent crude oil one month futures contract is trading 1.06% or $0.75 higher at $71.82 per barrel, ahead of the weekly US oil rig count data by Baker Hughes, scheduled to be released later today. Yesterday, the contract declined 1.63% or $1.18, to settle at $71.07 per barrel, amid renewed worries over crude oil demand, due to a surge in Covid-19 cases and as Mexico restored some crude output. . Gold futures contract is trading 0.49% or $8.70 higher at $1800.90 per ounce. Yesterday, the contract climbed 0.22% or $4.00, to settle at $1792.20 per ounce. . Currency GBP is trading marginally lower against the USD at $1.3694. Yesterday, the GBP weakened 0.46% versus the USD, to close at $1.3700. . EUR is trading marginally higher against the USD at $1.1756. Investors await the US Fed Chairman, Jerome Powell’s speech along with the US consumer sentiment index for August, trade balance, personal income and spending data, all for July, slated to release later today. Yesterday, the EUR weakened 0.17% versus the USD, to close at $1.1752. On the data front, Germany’s consumer confidence index dropped to a three-month low in September. In other economic news, the US gross domestic product (GDP) grew less than expected in the second quarter, while the nation’s initial jobless claims climbed in the week ended 20 August 2021, recording its first increase in five weeks. . Bitcoin BTC is trading 0.51% lower against the USD at $46797.71. Yesterday, BTC declined 3.44% against the USD to close at $47036.43. In a key development, 3LAU announced that it has raised $16.0 million through a seed funding round to launch blockchain based music investment platform, Royal. In another development, supply chain management platform, VeChain, announced that it has launched a blockchain service to enable businesses openly track and report their carbon emissions data. . Economic News German consumer confidence index fell more than expected in September In Germany, the consumer confidence index dropped to a level of -1.20 in September, compared to a revised reading of -0.40 in the prior month. Markets were expecting the index to drop to -0.70 . US GDP climbed less than expected in 2Q 2021 In the US, the GDP advanced 6.60% on a QoQ basis in 2Q 2021, compared to a rise of 6.50% in the previous quarter. Markets were expecting the GDP to record an advance of 6.70% . US initial jobless claims advanced more than expected in the week ended 20 August 2021 In the US, the seasonally adjusted number of initial jobless claims rose to a level of 353.00 K in the week ended 20 August 2021, compared to a revised level of 349.00 K in the prior week. Markets were expecting initial jobless claims to rise to a level of 350.00 K. . Australia’s retail sales dropped more than estimated in July In Australia, seasonally adjusted retail sales fell 2.70% on a MoM basis in July, compared to a drop of 1.80% in the previous month. Markets were expecting retail sales to fall 2.3%.

UK Markets Closed mixed yesterday, as concerns about the impact of the Delta variant overshadowed gains in energy and healthcare sector stocks and upbeat UK economic data. Plus500 climbed 5.1%, after the online trading platform projected its annual revenue to exceed “significantly ahead” of analysts’ expectations. BHP Group advanced 3.4%, after the miner reported a jump in its annual net profit and confirmed the sale of its petroleum business. Just Eat Takeaway.com rose 2.9%, even though the company reported operating losses in the first half of the year. Genuit Group edged up 2.0%, after the company reported better than expected revenue and profit in the first half of the year and raised its full year outlook. On the flipside, Beazley fell 2.2%, after a top broker downgraded its rating on the stock to ‘Sell’ from ‘Neutral’. Glencore shed 1.6%, after the company agreed to acquire a stake in UK battery maker, Britishvolt. The FTSE 100 rose 0.4%, to close at 7,181.1, while the FTSE 250 fell 0.1%, to end at 23,693.5. . European Markets Closed mostly lower yesterday, as investors remained worried over the spread of Delta variant of Covid-19 and its potential impact on the global economic recovery. Prosus fell 3.2%, as Chinese regulators issued a long set of draft rules for the internet sector, banning unfair competition and restricting the use of user data. Swiss Life Holding shed 1.7%, after the financial services firm reported a drop in its premiums in the first half. On the other hand, Pandora rose 3.3%, after the jewelry maker reported an increase in its sales to its pre-pandemic levels in the second quarter and launched a new share buyback program. The FTSEurofirst 300 index gained 0.2%, to settle at 1,827.7. The German DAX Xetra marginally fell to settle at 15,922.0, while the French CAC-40 dropped 0.3%, to close at 6,819.8. . US Markets Finished lower yesterday, following dismal US retail sales data. Home Depot dropped 4.3%, after the company reported weaker than expected sales in the second quarter. Stanley Black & Decker fell 3.0%, after the tool maker announced that it has agreed to acquire the remaining 80% of MTD Holdings for a cash consideration of $1.6 billion. Roblox shed 1.1%, after the video game company reported lower than expected revenue in the second quarter, following a drop in bookings. Walmart eased 0.03%, despite reporting better-than-expected results in the second quarter and raising its full year forecast The S&P 500 slipped 0.7%, to settle at 4,448.1. The DJIA fell 0.8%, to settle at 35,343.3, while the NASDAQ dropped 0.9%, to close at 14,656.2. . Asian Markets Trading higher this morning. In Japan, Taisei and Fujikura have advanced 2.5% and 3.1%, respectively. Meanwhile, Shiseido and Nikon have dropped 1.7% and 2.7%, respectively. In Hong Kong, China Life Insurance and Meituan have risen 1.7% and 4.2%, respectively. Meanwhile, HSBC Holdings and China Resources Land have fallen 0.6% and 2.0%, respectively. In South Korea, LF and Jico have climbed 9.6% and 29.7%, respectively. Meanwhile, Samsung Publishing and STX have declined 8.4% and 17.0%, respectively. The Nikkei 225 index is trading 0.6% higher at 27,579.8. The Hang Seng index is trading 0.6% up at 25,898.1, while the Kospi index is trading 0.9% higher at 3,170.4.

UK Markets Closed lower yesterday, led by losses in mining sector stocks, amid disappointing data by China. Burberry Group dropped 3.4%, after the luxury fashion brand reported lower than expected first quarter retail sales in one of its primary markets. Just Group fell 2.4%, after the retirement specialist announced that it sold a portfolio of lifetime mortgages to Rothesay for a consideration of £334.0 million. BHP Group shed 1.8%, after the company confirmed that it has begun talks regarding a potential merger of its petroleum business with Australia’s Woodside Petroleum. Meggitt slid 0.4%, even though the aerospace and defence group announced that it has recommended a £6.3 billion takeover by Parker Hannifin. On the flip side, Ultra Electronics Holdings advanced 6.0%, after the company agreed upon £2.5 billion deal to be purchased by the defence group, Cobham. Future rose 5.0%, after the company announced that it has acquired consumer media company, Dennis, for a cash consideration of £300.0 million from Exponent Private Equity. The FTSE 100 slipped 0.9%, to close at 7,154.0, while the FTSE 250 fell 0.3%, to end at 23,712.7. . European Markets Also closed lower yesterday, following a surprise slowdown in China’s economic data and amid concerns over economic growth. Deutsche Lufthansa fell 3.6%, after the German finance agency announced that it would sell up to a quarter of its stake in the airline operator over the next few weeks. AXA slid 0.3%, after the insurance company announced the sale of its operations in Singapore to HSBC for a consideration of $575.0 million. On the other hand, Faurecia climbed 12.1%, after the car parts supplier indicated that it has won the bid to acquire a majority stake in German automotive lighting group, Hella. The FTSEurofirst 300 index slipped 0.6%, to settle at 1,824.8. The German DAX Xetra fell 0.3%, to settle at 15,925.7, while the French CAC-40 dropped 0.8%, to close at 6,838.7. . US Markets Bucked the trend finishing mostly higher yesterday, helped by gains in healthcare sector stocks. Sonos advanced 4.7%, following reports that International Trade Commission judge ruled that Alphabet’s Google unit violated audio technology patents of some of the high-end speaker company. Seagate Technology Holdings edged 0.4% up, after a broker upgraded its rating on the stock to ‘Buy’ from ‘Neutral’. On the other hand, Rocket declined 5.0%, after the company’s second quarter revenue and earnings came in below analysts’ forecast. Tesla dropped 4.3%, after the National Highway Traffic Safety Administration announced a formal investigation into the electric vehicle maker’s autopilot partially automated driving system. T-Mobile US fell 2.9%, after the company announced that it is investigating a forum post in which a hacker claimed to be selling personal data. The S&P 500 gained 0.3%, to settle at 4,479.7. The DJIA rose 0.3%, to settle at 35,625.4, while the NASDAQ fell 0.2%, to close at 14,793.8. . Asian Markets In line with UK and Europe are trading mostly lower this morning. In Japan, Mitsui Chemicals and Nippon Yusen have advanced 2.3% and 2.7%, respectively. Meanwhile, Nippon Steel and M3 have dropped 2.6% and 2.8%, respectively. In Hong Kong, PetroChina and Tencent Holdings have fallen 2.1% and 3.7%, respectively. Meanwhile, BYD and CSPC Pharmaceutical Group have risen 0.9% and 3.8%, respectively. In South Korea, Tapex and Sempio Foods have declined 8.5% and 9.2%, respectively. Meanwhile, Inbiogen and Central Insight have climbed 10.4% and 18.3%, respectively. The Nikkei 225 index is trading 0.2% higher at 27,569.8. The Hang Seng index is trading 0.5% down at 26,041.0, while the Kospi index is trading 1.1% lower at 3,137.7. . Commodity Brent crude oil one month futures contract is trading 0.06% or $0.04 higher at $69.55 per barrel, ahead of the American Petroleum Institute’s weekly oil inventory data, scheduled to be released later today. Yesterday, the contract declined 1.53% or $1.08, to settle at $69.51 per barrel, amid speculations by the OPEC and other oil producers that the crude demand would not be more than their planned supply in the coming months. . Gold futures contract is trading 0.09% or $1.60 higher at $1788.50 per ounce. Yesterday, the contract climbed 0.66% or $11.70, to settle at $1786.90 per ounce, amid decline in the US treasury yields. . Currency The EUR is trading 0.08% lower against the USD at $1.1768, ahead of the Euro-zone’s second quarter GDP data and construction output data for June, due in a few hours. Additionally, investors await the US Federal Reserve Chairman, Jerome Powell’s speech along with the US retail sales data and industrial production data, both for July, slated to release later today. Yesterday, the EUR weakened 0.16% versus the USD, to close at $1.1778. In other economic news, the US NY Empire State manufacturing index fell more than anticipated in August. . GBP is trading 0.24% lower against the USD at $1.3816, ahead of UK’s unemployment rate and average earnings data, both for June, slated to release in a few hours. Yesterday, the GBP weakened 0.12% versus the USD, to close at $1.3849. . Bitcoin BTC is trading 1.05% higher against the USD at $46560.05. Yesterday, BTC declined 3.22% against the USD to close at $46078.11. In a key development, Audius, one of the first streaming platforms announced that it has joined forces with TikTok to allow users to share tracks to the popular app. In another development, fintech company, Leonteq announced that it has launched a collaborative effort with ICF bank to bring crypto assets to institutional investors throughout Germany and Austria. . Economic News . US NY Empire State manufacturing index dropped more than expected in August In the US, the NY Empire State manufacturing index fell to 18.30 in August, compared to a level of 43.00 in the previous month. Markets were expecting the index to fall to a level of 30.00. . RBA minutes: spread of Delta variant raises uncertainty about outlook Minutes from the Reserve Bank of Australia (RBA), in its August meeting, indicated that the spread of the delta variant of the coronavirus and the accompanying lockdowns to curb the spread have raised uncertainty towards the economic outlook for the second half of 2021.

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UK Markets Finished higher yesterday, supported by gains in mining sector stocks. Meggitt skyrocketed 56.7%, after the aerospace company agreed to be acquired by Parker Hannifin. Senior climbed 9.3%, after the jet and auto parts supplier lifted its outlook for the full year. Sanne Group advanced 7.6%, after the fund administrator announced that it was in advanced talks with Apex Group regarding a possible takeover. SSE rose 1.3%, after the company announced that it would sell its entire stake in gas distribution operator, Scotia Gas Networks, for a cash consideration of £1.23 billion. Volution Group edged 0.7% up, after the company acquired Energy Recovery Industries for an initial €23.4 million. On the flipside, HSBC Holdings fell 0.3%, after the lender announced that it would reinstate dividends, as its interim profits doubled. The FTSE 100 advanced 0.7%, to close at 7,081.7, while the FTSE 250 rose 1.1%, to end at 23,208.7. . Europe Markets Closed higher yesterday, amid strong quarterly earnings report and on optimism about economic recovery. AXA advanced 4.2%, after the insurer reported a surge in its net income in the first half of the year across its global insurance and reinsurance business. Vonovia rose 2.2%, after the real estate firm raised its offer to acquire Deutsche Wohnen to around €19.1 billion. Daimler edged 1.5% up, after Goldman Sachs added the stock to its “Conviction List”. Heineken gained 0.6%, after the company reported upbeat earnings for the first half of the year. On the other hand, Allianz dropped 7.8%, after the company reported that it expects to report a decline in its earnings as US regulators started an investigation relating to Allianz Global Investors’ structured alpha funds. The FTSEurofirst 300 index gained 0.5%, to settle at 1,789.1. The German DAX Xetra rose 0.2%, to settle at 15,568.7, while the French CAC-40 added 1.0%, to close at 6,675.9. . US Markets Finished the day lower yesterday, amid worries over surge in cases of the Delta variant of coronavirus. Global Payments declined 11.2%, even though the company reported better than expected second quarter earnings. Parker Hannifin fell 2.1%, after the company agreed to acquire Meggitt for a cash consideration of $8.8 billion. On the other hand, Square climbed 10.2%, after the company announced that it would acquire fintech company, Afterpay in a $29.0 billion all-stock deal. Pfizer advanced 2.7%, following reports that the pharmaceutical company raised prices for its Covid-19 vaccines in its latest supply contracts. First Solar rose 2.6%, after a broker upgraded its rating on the stock to ‘Positive’ from ‘Neutral’. Capri Holdings edged 1.6% up, following a rating upgrade on the stock to ‘Buy’ from ‘Hold’. The S&P 500 marginally slipped, to settle at 4,387.2. The DJIA fell 0.3%, to settle at 34,838.2, while the NASDAQ added 0.1%, to close at 14,681.1. . Asian Markets Are trading mostly lower this morning. In Japan, Oji Holdings and NH Foods have dropped 3.1% and 3.2%, respectively. Meanwhile, Advantest and Toyota Tsusho have 1.6% and 1.7%, respectively. In Hong Kong, Country Garden Holdings and Galaxy Entertainment Group have fallen 1.5% and 1.6%, respectively. Meanwhile, WH Group and Sino Biopharmaceutical have advanced 1.8% and 2.2%, respectively. In South Korea, Digital Power Communications and Heung-A Shipping have climbed 6.1% and 7.1%, respectively. Meanwhile, BK Tops and Sewon Cellontech have declined 6.5% and 6.7%, respectively. The Nikkei 225 index is trading 0.8% lower at 27,559.3. The Hang Seng index is trading 0.8% down at 26,021.5, while the Kospi index is trading 0.1% higher at 3,226.5. . Commodity Brent crude oil one month futures contract is trading 0.10% or $0.07 higher at $72.96 per barrel, ahead of the American Petroleum Institute’s weekly oil inventory data, scheduled to be released later today. Yesterday, the contract declined 3.34% or $2.52, to settle at $72.89 per barrel, following dismal economic data in China and amid concerns about rise in crude oil output from OPEC producers. . Gold futures contract is trading 0.23% or $4.10 lower at $1814.00 per ounce. Yesterday, the contract climbed 0.3% or $5.50, to settle at $1818.10 per ounce, amid decline in the US bond yields. . Currency EUR is trading marginally higher against the USD at $1.1872, ahead of the Euro-zone’s producer price index for June, due in a few hours. Additionally, investors await the US factory order data for June, slated to release later today. Yesterday, the EUR marginally strengthened versus the USD, to close at $1.1870, after the Euro-zone manufacturing activity dropped in July. Separately, Germany’s manufacturing PMI climbed more than anticipated in July, while the nation’s retail sales rose more than market estimated in June. In other economic news, the US manufacturing PMI unexpectedly dropped in July. . GBP is trading 0.06% higher against the USD at $1.3892. Yesterday, the GBP weakened 0.15% versus the USD, to close at $1.3883, after the UK manufacturing PMI declined in line with market forecast in July. . Bitcoin BTC is trading 0.22% lower against the USD at $38772.02. Yesterday, BTC declined 4.50% against the USD to close at $38856.63. In a key development, crypto-asset trading firm, Voyager Digital announced that it would acquire payments company, Coinify for $85.0 million in cash and stock. In another development, digital payments firm, Square, announced that it would acquire Afterpay for a consideration of $29.0 billion. . Economic News UK manufacturing PMI dropped as expected in July In the UK, the manufacturing PMI fell to 60.40 in July, in line with market expectations and compared to a level of 63.90 in the prior month. . Euro-zone manufacturing PMI fell in July In the Euro-zone, the manufacturing PMI dropped to 62.80 in July, compared to a level of 63.40 in the previous month. Markets were expecting the manufacturing PMI to drop to a level of 62.60. . German manufacturing PMI rose more than expected in July In Germany, the manufacturing PMI advanced to 65.90 in July, compared to a level of 65.10 in the prior month. Markets were expecting the manufacturing PMI to rise to a reading of 65.60. . German retail sales advanced more than expected in June In Germany, retail sales rose 4.20% on a MoM basis in June, compared to a rise of 4.20% in the previous month. Markets were expecting retail sales to record an advance of 2.00%. . US ISM manufacturing activity index unexpectedly dropped in July In the US, the ISM manufacturing activity index unexpectedly fell to 59.50 in July, compared to a level of 60.60 in the prior month. Markets were expecting the index to record an advance to 60.90.

UK Markets Markets finished mixed on Friday, as gains in energy sector stocks and positive corporate updates overshadowed concerns over rising coronavirus cases. Deliveroo rallied 6.7%, after the company agreed to extend its partnership with French supermarket giant Groupe Casino for two years. Informa advanced 3.2%, after a broker upgraded its rating on the stock to ‘Buy’ from ‘Hold’. Grafton Group climbed 1.9%, after the company announced that it has completed the acquisition of Isojoen Konehalli and Jokapaikka (IKH) in a deal worth €199.0 million. Associated British Foods rose 0.5%, after third quarter sales at its Primark fashion stores surpassed market expectations. On the other hand, banking stocks such as Barclays, HSBC Holdings and Standard Chartered dropped 1.5%, 1.6% and 2.4%, respectively. The FTSE 100 slightly fell to close at 7,123.3, while the FTSE 250 rose 0.6%, to end at 22,747.0. . European Markets Finishing mostly higher on Friday, amid optimism about strong global economic recovery. Kindred Group climbed 6.2%, after the company announced that it has agreed to acquire the remaining 66.6% stake in Relax Gaming, a leading and rapidly growing B2B iGaming supplier. ASML Holding rose 1.4%, after Micron Technology Inc indicated that it plans to start using ASML EUV machines in production in 2024. On the flipside, Ambu dropped 9.2%, after the company issued a profit warning. CaixaBank fell 2.0%, after the lender announced that it would lay off 6,452 staff as part of its turnaround plan. Industria de Diseno Textil lost 0.8%, following reports that the French prosecutors opened an investigation into the retail giant, which owns Zara, for concealing crimes against humanity in the Xinjiang region of China. The FTSEurofirst 300 index gained 0.2%, to close at 1,763.1. Among other European markets, the German DAX Xetra 30 rose 0.3%, to close at 15,650.1, whereas the French CAC-40 marginally fell to settle at 6,552.9. . US Markets Closed higher on Friday, following stronger than expected US non-farm payrolls data. Virgin Galactic Holdings advanced 4.1%, after the space tourism company announced that it would take its founder Richard Branson into space on 11 July. Tesla added 0.1%, after the electric vehicle maker reported record vehicle deliveries for the second quarter. On the other hand, International Business Machines fell 4.6%, after the tech giant announced the departure of its President, Jim Whitehurst after three years at the firm. Charles Schwab declined 1.1%, after the financial services company announced that it is being probed by the Securities and Exchange Commission regarding disclosure involving its robo advisors. The S&P 500 gained 0.8%, to settle at 4,352.3. The DJIA rose 0.4%, to settle at 34,786.4, while the NASDAQ added 0.8%, to close at 14,639.3. . Asian Markets Asia were trading mostly lower this morning. In Japan, IHI and Showa Denko have dropped 2.1% and 3.1%, respectively. Meanwhile, Fujitsu and Kawasaki Kisen Kaisha have advanced 1.4% and 2.1%, respectively. In Hong Kong, Xiaomi and Alibaba Group Holdings have fallen 1.5% and 2.5%, respectively. Meanwhile, WH Group and Sunny Optical Technology Group have risen 1.6% and 3.3%, respectively. In South Korea, Hanwha Aerospace and Jooyontech have climbed 10.2% and 18.3%, respectively. On the other hand, ORIENTBIO and INFAC have declined 6.0% and 16.9%, respectively. The Nikkei 225 index is trading 0.6% lower at 28,611.0. The Hang Seng index is trading 0.2% down at 28,248.6, while the Kospi index is trading 0.4% higher at 3,294.5.

汇丰控股在 18/06 宣布，HSBC Continental Europe (HBCE) 出售其法国零售银行业务给纽约私募股权公司 Cerberus 持股的 My Money 集团。预计汇丰将承担 30 亿美元的亏损。这是继上个月宣布退出美国零售银行业务后，汇丰再次退出西方主要市场的最新举措。消息公布后，汇丰股一度下跌超过 4%，创一个月新低。