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European stocks fall as rate hike worries seep back in

Friday, May 13, 2022
European stocks fall as rate hike worries seep back in © Reuters. FILE PHOTO: A man points at a computer screen showing stock information in this illustration photo taken in Bordeaux, France, March 30, 2016. REUTERS/Regis Duvignau

By Sruthi Shankar

(Reuters) -European stocks slumped on Thursday, with most cyclical parts of the market coming back down, a day after U.S. inflation data fuelled worries about the impact of rising interest rates on economic growth.

The continent-wide STOXX 600 index slid 0.8%, reversing much of the mid-week gains. Technology, automakers and mining stocks were the top losers among sectors.

This comes a day after investors bet on bigger rate hikes by the Federal Reserve after consumer prices moderated in April but were still higher than economists expected.

"We expect inflation data to remain a central concern for both policymakers and investors over the coming months," Mark Haefele, chief investment officer at UBS Global Wealth Management said in a note.

"Rapid wage growth and strong demand could result in sustained price increases for services, forcing the Fed to continue raising rates even if goods prices stabilize."

Worries about monetary policy tightening, an economic slowdown in China and surging inflation have stoked worries about recession, pushing the STOXX 600 to shed 6.7% so far in May even though first-quarter earnings have been largely supportive.

Adding to worries, Russian gas flows to Europe via Ukraine fell by a quarter after Kyiv halted use of a major transit route, the first time exports via Ukraine have been disrupted since the invasion.

"Europe is currently facing negative supply shocks, which only got worse after the Russian invasion of Ukraine," Morgan Stanley (NYSE:MS) analysts wrote in a client note.

"The surge in energy prices has been more persistent than expected, leading to a compression in profit margins for firms and households' disposable income, which ultimately turned into a drag on consumption and investment."

A volatility gauge of euro zone stocks rose to above 33 points.

Siemens fell 2.5% after it said it will quit the Russian market due to the war in Ukraine, taking a 600 million euros ($630.18 million) hit to its business during the second quarter.

Franco-Italian chipmaker STMicroelectronics gained 4.0% even as it forecast more than $20 billion in annual sales by 2027 at the latest.

Britain's biggest broadband and mobile operator BT rose 1.0% after saying it had finalised the deal to combine its sports broadcasting unit with Discovery (NASDAQ:WBD) Inc, as it met expectations for annual core earnings.

Analysts now expect profit for STOXX 600 companies to grow 42.4%, as per Refinitiv data, up from 20.8% seen at the start of the earnings season. Nearly 65% of the European companies have reported so far.

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18-05-2022 13:04:02 (UTC+7)

EUR/USD

1.0536

-0.0011 (-0.10%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (1)

EUR/USD

1.0536

-0.0011 (-0.10%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (1)

GBP/USD

1.2477

-0.0013 (-0.10%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (6)

USD/JPY

129.07

-0.32 (-0.25%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (10)

AUD/USD

0.7032

+0.0003 (+0.04%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (4)

Sell (3)

USD/CAD

1.2813

+0.0004 (+0.03%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (7)

EUR/JPY

135.99

-0.48 (-0.35%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

EUR/CHF

1.0473

-0.0004 (-0.04%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

Gold Futures

1,811.11

-7.79 (-0.43%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

Silver Futures

21.630

-0.120 (-0.55%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Copper Futures

4.2380

+0.0057 (+0.13%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Crude Oil WTI Futures

110.98

+1.35 (+1.23%)

Summary

Neutral

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (2)

Sell (4)

Brent Oil Futures

112.78

+0.85 (+0.76%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (2)

Sell (6)

Natural Gas Futures

8.270

-0.044 (-0.53%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (11)

US Coffee C Futures

228.63

+3.83 (+1.70%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (2)

Sell (6)

Euro Stoxx 50

3,741.51

+56.17 (+1.52%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

S&P 500

4,088.85

+80.84 (+2.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

DAX

14,185.94

+221.56 (+1.59%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (0)

FTSE 100

7,518.35

+53.55 (+0.72%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (1)

Hang Seng

20,687.00

+84.48 (+0.41%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

1,840.30

+56.87 (+3.19%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (5)

Sell (3)

IBEX 35

8,475.70

+122.00 (+1.46%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (11)

Sell (0)

BASF SE NA O.N.

50.690

+1.395 (+2.83%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Bayer AG NA

64.12

+0.91 (+1.44%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Allianz SE VNA O.N.

202.25

+3.43 (+1.73%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Adidas AG

183.30

+3.24 (+1.80%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (9)

Sell (0)

Deutsche Lufthansa AG

6.827

+0.131 (+1.96%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (4)

Sell (2)

Siemens AG Class N

116.50

+2.90 (+2.55%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (1)

Deutsche Bank AG

9.538

+0.319 (+3.46%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

 EUR/USD1.0536Neutral
 GBP/USD1.2477↑ Sell
 USD/JPY129.07↑ Sell
 AUD/USD0.7032↑ Buy
 USD/CAD1.2813↑ Sell
 EUR/JPY135.99↑ Sell
 EUR/CHF1.0473↑ Sell
 Gold1,811.11↑ Buy
 Silver21.630↑ Buy
 Copper4.2380↑ Buy
 Crude Oil WTI110.98Neutral
 Brent Oil112.78Neutral
 Natural Gas8.270↑ Sell
 US Coffee C228.63Neutral
 Euro Stoxx 503,741.51↑ Buy
 S&P 5004,088.85↑ Buy
 DAX14,185.94↑ Buy
 FTSE 1007,518.35↑ Buy
 Hang Seng20,687.00↑ Buy
 Small Cap 20001,840.30Neutral
 IBEX 358,475.70↑ Buy
 BASF50.690↑ Buy
 Bayer64.12↑ Buy
 Allianz202.25↑ Buy
 Adidas183.30↑ Buy
 Lufthansa6.827Buy
 Siemens AG116.50↑ Buy
 Deutsche Bank AG9.538↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,825/ 6,925
(0/ 0) # 1,848
SJC HCM6,825/ 6,925
(0/ 0) # 1,846
SJC Hanoi6,825/ 6,927
(0/ 0) # 1,848
SJC Danang6,825/ 6,927
(0/ 0) # 1,848
SJC Nhatrang6,825/ 6,927
(0/ 0) # 1,848
SJC Cantho6,825/ 6,927
(0/ 0) # 1,848
Cập nhật 18-05-2022 13:04:05
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