WORLD MARKETS

World Markets Daily News – In Brief – 30/01/2023

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STOCK MARKETS


AUSTRALIA/NEW ZEALAND

The Australian market reached a nine-month high before a slight dip on Monday as information technology companies lifted the bourse. The benchmark S&P/ASX 200 Index lost 0.16%. In New Zealand investors digested trade data: the country posted a merchandise trade deficit of NZ$475 million in December. The NZX50 was off 0.01%.

ASIA

Asian stocks were higher on Monday. Shares of Adani Group, led by Asia’s richest man Gautam Adani, remained volatile after the Indian conglomerate rebutted short seller firm Hindenburg’s accusations of embezzlement and fraud.

In Japan, the Nikkei 225 gained 0.19%. Mainland Chinese markets rose on resuming trade after a week-long New Year break. The Shenzhen Component rose 0.98% and the Shanghai Composite rose 0.14%. Hong Kong’s Hang Seng index advanced 2.73%.

EUROPE

European stock exchanges opened the first trading session of the week lower as investors geared up for a key week as the US Federal Reserve, the Bank of England and the European Central Bank are all set to increase interest rates. Traders also focus on the upcoming publication of Germany’s gross domestic product (GDP) report in the fourth quarter and the EU consumer confidence report. In Frankfurt, the DAX opened 0.42% lower, while London’s FTSE 100 dropped by 0.52%. In Paris, the CAC 40 was lower by 0.61%. The Euro Stoxx 50 lost 0.71%.

European markets closed lower as Germany’s gross domestic product (GDP) adjusted for price, season, and calendar declined by 0.2% in the fourth quarter of 2022. The DAX lost 0.16% at the close, the CAC 40 dropped 0.21%, while the FTSE 100 added 0.25%. Meanwhile, the pan-European Euro Stoxx 50 index was down 0.44%.

US

Stock futures traded lower on Monday morning. Futures tied to the Dow Jones Industrial Average slipped 102 points, or about 0.3%. S&P 500 futures ticked down 0.34%, and Nasdaq 100 futures edged lower by 0.41%, according to CNBC.

U.S. stocks kept falling right till the end of the day’s session on Monday. The Dow Jones ended down 0.77% the S&P 500 settled lower by 1.3%, while the Nasdaq closed with a loss of 1.96%.

COMMODITIES


OIL

Oil prices climbed in early Asia trade on Monday. Brent crude futures rose 54 cents, or 0.6%, to $87.20 a barrel by 0115 GMT while U.S. West Texas Intermediate crude was at $80.22 a barrel, up 54 cents, or 0.7%, according to Reuters.

GOLD

Gold prices inched higher on Monday. Spot gold rose 0.3% to $1,932.84 per ounce, as of 0457 GMT. U.S. gold futures were up 0.2% at $1,932.80, according to Reuters.

FOREX


The euro went down by 0.06% against the dollar to sell for $1.08585 at 8:58 am CET. At the same time, the pound sterling lost 0.07% to the greenback to change hands for $1.23821.



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