UK Market
Finished lower yesterday, amid rising concerns over inflation. Diversified Energy plunged 19.9%, following reports of gas leaks at its ageing production installations. easyJet fell 3.5%, after the airline operator announced that it expects to report annual losses due to the Covid-19 pandemic. Entain shed 1.7%, even though the gambling firm reported an increase in its revenue in the third quarter, as Covid lockdown measures were lifted. On the other hand, Hipgnosis Songs Fund advanced 5.0%, after the company announced a new partnership with Blackstone which would initially deliver $1 billion to acquire music rights and manage catalogues. GlaxoSmithKline edged 0.9% up, following reports that the company is under pressure to sell its consumer unit that might lead to the biggest buyout of all time. The FTSE 100 slipped 0.2%, to close at 7,130.2, while the FTSE 250 fell 0.1%, to end at 22,468.9.
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Europe Market
Markets finished mostly lower yesterday, amid rising concerns over inflation and worries about global economic growth. Adler Group dropped 5.0%, after the real estate investor agreed to sell its residential and commercial property worth €1.49 billion to LEG Immobilien. Givaudan fell 2.4%, even though the company’s sales grew in the first nine months of the year. Societe Generale shed 0.2%, after the lender announced that it would cut 3,700 jobs between 2023 and 2025 to merge its domestic retail operations. Gerresheimer slid 1.0%, even though the company reported better than expected revenue and earnings in the third quarter. On the flipside, Lonza Group rose 0.5%, after the company lifted its 2024 group and divisional mid-term outlook. The FTSEurofirst 300 index slipped 0.1%, to close at 1,771.8. Among other European markets, the German DAX Xetra 30 fell 0.3%, to close at 15,146.9, while the French CAC-40 dropped 0.3%, to settle at 6,548.1.
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US Market
Closed lower yesterday, led by losses in industrial and healthcare sector stocks. Signet Jewelers shed 0.5%, after the company announced that it would acquire Diamond Direct for a cash consideration of $490.0 million. On the other hand, MGM Resorts International jumped 9.6%, after a top broker upgraded its rating on the stock to ‘Outperform’ from ‘Neutral’. Matson climbed 8.4%, after the shipping company announced that it expects to report stronger than expected profit driven by rising demand for its shipping services. Airbnb added 3.7%, following a rating upgrade on the stock to ‘Outperform’ from ‘Market Perform’. Fastenal rose 3.1%, after the company reported better than expected earnings in the third quarter. American Airlines Group edged 0.8% up, after the company projected a smaller than expected loss in the third quarter. The S&P 500 slipped 0.2%, to settle at 4,350.7. The DJIA fell 0.3%, to settle at 34,378.3, while the NASDAQ dropped 0.1%, to close at 14,465.9.
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Asia Market
We’re trading mixed this morning. In Japan, Nippon Steel, SCREEN Holdings and Taiyo Yuden have dropped 2.5%, 2.7% and 5.1%, respectively. Meanwhile, Toto, Mazda Motor and Toho have advanced 2.7%, 3.7% and 4.9%, respectively. In South Korea, Hanshin Machinery, Shinwon and Central Insights have climbed 13.5%, 15.8% and 18.3%, respectively. Meanwhile, Hanwha, LX International and Kukbo have declined 3.9%, 4.0% and 5.8%, respectively. Markets in Hong Kong are closed today due to Typhoon Kompasu alert issued by the government. Today, the Nikkei 225 index is trading 0.2% lower at 28,169.0, while the Kospi index is trading 1.2% higher at 2,951.6. Yesterday, the Hang Seng index fell 1.4% to close at 24,962.6