Inflationary pressures remain high in the US

AMERICAN MARKETS MID DAY

The New York Stock Exchange is down on Thursday, penalized by financial stocks, which are suffering from the continued decline in bond yields in the wake of Federal Reserve Chairman Jerome Powell’s statements to Congress on the temporary nature of inflation and the need for continued monetary support for the economy.

On the stock side, insurance and health services group UnitedHealth rose 0.5% after again raising its profit targets for 2021 at its quarterly trading update. Morgan Stanley also rose after reporting a 10% increase in net profit to $3.5bn in the second quarter, beating analysts’ average estimate.

AMERICAN MARKETS
NASDAQ 10014 935,25-0,76%
DOW JONES34 963,63-0,34%
S&P 5004 393,80
-0,57%
RUSSELL 20002 225,80-0,65%
S&P/TSX20 229,96
-0,41%
S&P MERVAL66 586,53-1,08%
IBRX BRAZIL53 539,56
-1,74%
IPC MEXICO50 979,46
-1,28%

EUROPEAN MARKETS CLOSING

Nestlé’s baby food brand Gerber is making a commitment to carbon neutrality. The brand is committed to achieving carbon neutrality for all its baby food in the US by 2035. To achieve this, Gerber plans to develop sustainable practices in several priority areas such as regenerative agriculture, manufacturing and supply chain management, recipe design, packaging and investing in high quality offset projects.

The French competition authority has given its « unconditional » approval to the takeover by Bordeaux businessman Michel Ohayon, via his FIB fund, of the Go Sport chain for a symbolic 1 euro, according to a statement on Thursday.

EUROPEAN MARKETS
CAC 406 612,76
-0,32%
FTSE 1007 032,30-0,65%
DAX15 544,39-0,61%
SMI12 116,82
0,25%
AEX754,31-0,50%
IBEX 358 675,70
-1,26%
FTSE MIB25 363,02
-0,60%
EURO STOXX 504 089,30
-0,67%
OMX NORDIC 402 347,67
-0,24%

ASIAN PACIFIC MARKETS CLOSING

The World Bank on Thursday cut its growth forecast for the East Asia-Pacific region in 2021, excluding China, as many countries in the region face rising coronavirus cases, new and more contagious variants and vaccine supply constraints. Including China, whose GDP is expected to grow by 8.5% in 2021 according to the World Bank, the region is expected to grow by 7.7% this year, up from the previously announced 7.4%, said David Malpass, the World Bank’s president.

ASIAN PACIFIC MARKETS
NIKKEI 22527 283,59
-1,80%
KOSPI3 202,32-1,24%
HANG SENG25 961,03-1,35%
CSI 3004 811,17
-0,81%
SSE COMPOSITE INDEX3 397,36-0,42%
NIFTY 5015 763,05
-0,10%
S&P/ASX 2007 392,60
-0,33%
FTSE STRAITS TIMES INDEX3 166,94-0,43%
VN INDEX1 310,051,27%

COMMODITIES & FOREX MARKETS

After an increase of 12 tonnes in May, the Brazilian Central Bank continues its yellow metal purchases. In June, it increased its reserves by 1.3 million ounces, or 41 tonnes for about 2 billion dollars. The country has thus increased its holdings to 121 tonnes, reaching 31st place in the ranking.

COMMODITIES
OIL BRENT75,33
0,31%
OIL WTI73,840,30%
NATURAL GAS3,88-4,16%
GOLD1 819,70-0,63%
PALLADIUM2 648,75
0,15%
SILVER25,58
-0,76%
WHEAT707,38
0,50%
COTTON89,53-0,86%
COCOA2 371,00-2,63%

As crypto-currencies are booming, the European Central Bank is working hard on the creation of a digital euro. The European Central Bank (ECB) announced on 14 July the launch of a two-year pilot project to create a digital euro.

CHANGES & CRYPTOS
EUR/CAD1,4798
0,05%
EUR/USD1,1861
-0,22%
EUR/GBP0,8529
0,21%
EUR/RUB86,6683
-0,36%
EUR/CHF1,0745-0,25%
BTC-USD39 030,90
-1,78%
ETH-USD2 340,00
0,61%

Singapore: one of the world’s largest floating solar power plants

Singapore on Wednesday unveiled one of the world’s largest floating solar power plants, covering an area equivalent to 45 football fields, in a move aimed at reducing the city-state’s greenhouse gas emissions. A total of 122,000 solar panels have been installed on the Tengeh reservoir. They are intended to generate the electricity needed by Singapore’s five water treatment plants. In February, the Singaporean government unveiled a « Green Plan » which includes planting trees, reducing the amount of waste sent to landfill sites and increasing the number of charging points for electric cars.

It also plans to quadruple the production of solar energy to 2% of the country’s consumption in 2025, and 3% in 2030, which corresponds to the needs of 350,000 homes per year.

CAC 40 COMPOSITION DAILY PERFORMANCES

CAC 40PERFORMANCES
WORST PERFORMANCESTOP PERFORMANCES
Thales
-2,49%EssilorLuxottica
3,38%
Engie
-3,00% Saint Gobain3,11%
Renault-3,35%Legrand
2,09%
Unibail Rodamco
-3,78%
Danone
1,97%
Carrefour
-3,81%Schneider Electric
1,80%

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