Today’s Market Movements
Denmark: OMX:C25 (+0.47%) ; Sweden: OMX:S30 (-0.05%) ; Norway: OBX:OSL (-0.43%) ; S&P 500 (-0.18%) ; Nasdaq (+0.30%)
European markets edged lower today as inflation fear becomes the presiding theme. Unilever became the latest firm to warn of inflation, declaring they have predominantly passed rising costs on to consumers. Debate is intensifying as to whether this inflation will inspire interest rate hikes. Roger Lee, head of equity strategy at fund manager Investec, told The Financial Times, «Markets had presumed companies wouldn’t be able to hold their margins, but it also looks like this inflation we are seeing is becoming more persistent as price rises are accepted by consumers.» In the US, fear of inflation also took precedence as indexes opened lower. However, the mood across the Atlantic is slightly more positive following the news of Pfizer’s booster vaccine showing 95.6% efficacy and the lowest new jobless claims of the pandemic era – down to 290,000 from 296,000 a week earlier.
Elsewhere, Evergrande began trading today after its two-week suspension, to which the stock closed down 12.5%; this follows yesterday’s news of a deal to sell its property service sector falling through. In Turkey, the Lira fell a further 2% as the Turkish central bank slashed interest rates by two percentage points. The Lira has now lost over 20% against the dollar this year.
Today’s snacks
Digizuite gained 6% today following the announcement that board member Annette Skovbølling has acquired 13,600 shares at an average price of DKK 11.25, corresponding to a total value of DKK 152,950.
Valuer.ai also announced news of insider purchases today as board member Susanne Larsson has acquired shares for about DKK 0.4m. The insider purchases were announced today after a strong share price development in the past week. The share price closed down -0.3%. Susanne Larsson is proposed as new Chairman at the AGM on 11 November 2021.
Flügger group A/S gained 3.8% today following peer company PPG’s earnings report publication last night. PPG beat analyst expectations despite major challenges with supply chains. PPG mentioned that raw material costs had increased 25% yoy, however it was able to pass these costs on to consumers. Markets assessed similar dynamics could be at play regarding Flügger.
Disclaimer: HC Andersen Capital receives payment from the companies for a #DigitalIR agreement.
#DigitalIR#DemocraticIR#SustainableIR#markets#LateSnack
Author: Philip CoombesSe oversettelse
