Today’s Market Movements
Denmark: OMX:C25 (0.11%) ; Sweden: OMX:S30 (-0.80%) ; Norway: OBX:OSL (-0.14%) ; S&P 500 (+0.30%) ; Nasdaq (-0.67%)
European markets traded relatively flat today. Markets globally are eagerly anticipating the earnings reports of America’s tech giants. Facebook is scheduled to post after markets close today, then Alphabet, Microsoft and Twitter follow tomorrow. The remainder of the week will see the completion of FAANG stock reporting with Apple and Amazon publishing on Thursday. The next fortnight will see more than 300 of the S&P 500 companies report earnings. Major indexes in the US edged lower after opening.
Inflation continues to trouble markets; oil prices hit new highs as Brent crude surpassed $86.5 per barrel. As a result, monetary policy remains in focus; Britain is widely expected to move first. The ECB meets on Thursday, and the Fed and Bank of England are scheduled to meet in early November.
The top stock news of the day came from Tesla as rumours of Hertz ordering 100,000 units from the EV manufacturer circled. Facebook also made headlines as the company is criticised for its silence on the platform’s lack of support from young people.
Today’s snacks
RISMA Systems gained 5.3% today following a partnership agreement on a joint solution with ASGOT and Contractbook. The partnership aims to support Danish companies and organisations with a digital legal service platform. Additionally, the partnership opens for upselling opportunities in RISMA’s GRC Suite.
BankNordik gained 11% ex-dividend today as the stock trades ex-dividend. The company announced an extraordinary dividend payment of DKK 450m, equal to DKK 46.8 pr. share. Typically, stocks drop after dividend announcements to reflect new shareholders’ are not entitled to the payment. However, markets unusually reacted in a reverse manner, possibly in reaction to the company’s upgraded earnings guidance announced earlier in October. BankNordik will report its Q3 numbers on 2 November and will host an event with HC Andersen Capital on 5 November.
DSV – Global Transport and Logistics is expected to report its Q3 earnings report tomorrow morning before markets open. The company upgraded its guidance a couple of weeks ago, so markets are not anticipating major surprises tomorrow. However, the report can hopefully provide insight into the current market conditions and hint to what extent supply-chain issues are expected to continue.
Disclaimer: HC Andersen Capital receives payment from the companies for a #DigitalIR agreement.
#DigitalIR#DemocraticIR#SustainableIR#markets#LateSnack
Author: Philip Coombes
