Europe has gone Downhill Gold Continues to Soar

Potsy erases 1.3% after UK interest rate decision, Kak loses 0.6%, Dax weakens 0.1%; China-US tensions: US administration wants to boycott “untrustworthy” Chinese apps, such as tic-tac-toe and WeChat; gold climbs 0.5% to another high.

Nikkei (22,418.150.43%) Shanghai (3,386.460.26%) Hang Seng (24,930.580.69%) Dax (12,611.140.39%) Kak (4,894.030.80%) Potsey (6,009.221.56%) Dow Jones (27,201.521). 39%) S&P 500 (3,327,770.64%) Nasdaq (10,998.400.52%).

13:20 – Adidas climbs in Frankfurt by 3.5% despite recording a loss in the second quarter: stood at $ 350 million compared to a net profit of $ 626 million in the corresponding quarter last year. Sales fell 35% to $ 4.2 billion from $ 9.9 billion in the same quarter last year. At the same time, and perhaps facing the future, online sales soared 93% in the second quarter.

12:20 – The share of the French company Eurofins, which owns medical laboratories, jumps 15% in Paris after the company began providing a new and cheaper test kit for detecting the corona virus.

12:00 – Crisis hits Toyota: Japanese automaker reported a 74% drop in net profit in the quarter ended June – standing at $ 1.5 billion. Its forecasts for the fiscal year as a whole (ending March 2021) are also not encouraging – the company expects a 64% dive in net profit to $ 6.9 billion. The company sold 1.2 million vehicles during the quarter compared to 2.3 million in the corresponding quarter last year. Sales plunged 40 percent to $ 43.6 billion.

10:35 – London Stock Exchange deletes 1% in opening after interest rate decision, Paris unchanged, Frankfurt rises 0.4% after jump in factory orders last month: jumped 27.9% in June, second consecutive month of rise in orders. The June rise beat forecasts of a much smaller increase of 10.4%. Paris unchanged in opening.

German toiletries company Henkel loses 2% after second quarter reports. Even after reports, human resources company Adecco climbs 0.9% in Switzerland, British insurance company Aviva jumps 5.3%.

9am – The Bank of England, led by Andrew Bailey, left the interest rate at 0.1%. Nine members of the Monetary Committee unanimously supported the decision. The bank also decided to keep the acquisition plan designed to help the British economy as it is. These are 745 billion euro bond purchases. The bank will not expand or cut the plan until the employment data is published this fall.

8:35 – The Singapore bank DBS Group, the largest in all of Southeast Asia, climbs more than 2%, despite recording a 22% dip in net profit in the second quarter of 2020 compared to the same quarter last year. While net income fell $ 912 million, it surpassed forecasts for a larger sharp decline.

7:50 – In Brazil, the interest rate was cut to its lowest ever rate – to 2% from 2.25%, a ninth consecutive decline. The Brazilian central bank has even announced that it will not rule out further interest rate cuts later this year. Brazil is one of the most severely affected by the corona virus, with some of the highest infections and deaths in the world.

In the Philippines, there was a huge contraction in the economy in the second quarter – GDP cut by 16.5% compared to the same quarter last year – double the forecasts of a contraction of 8.5%. In the first quarter of 2020, GDP fell by 0.7%. Compared to the first quarter, this is a 15.2% decline in second quarter GDP.

7:45 – In the UK, the interest rate decision will be published at 9:00 (Israel time): the interest rate is now 0.1% and it has been cut twice since the beginning of the crisis, when it was 0.75%. Itai Yosha, Director of Forex Options Desk in Bank Hapoalim’s Chamber of Commerce, ahead of UK interest rate decision: “The market expects the UK to move in the direction of negative interest rates – investors and the market are convinced “And this is no less than a sensation.”

7:15 – This morning there are mainly declines in Asia: Although Seoul climbs by 1%, the Hong Kong stock exchange is cut by 1.5%, Shanghai and Tokyo lose 0.4%. In the background, Washington-Beijing tensions: US Secretary of State Pompeo said his government wanted to boycott US “unreliable” Chinese app stores, such as tic-tac-toe and WeChat.

Leading Wall Street indices closed higher last night. Nasdaq rose 0.5% and recorded a consecutive Friday of gains, the Dow Jones strengthened by 1.4% and the S&P 500 added 0.6% (the latter two recorded a consecutive Wednesday of gains). % After the reports and Tinder’s parent company, Match, which jumped 12.2% after publishing reports that showed higher-than-expected profit and revenue.

Airline shares also rose sharply after Republican Senate members announced they would support additional $ 25 billion in federal federal aid. United Airlines shares were up 4.4%, Delta was up 3.2%, and American Airlines was up 9.5%. The focus of the interest of Israeli investors was Teva, which closed the trade with a jump of 7.3% – also after the reports were published.

The price of WTI crude oil rose 1.2 percent (49 cents) last night to $ 42.2 a barrel – a five-month high. Earlier, the gold price closed again at its peak – close to $ 2,050 an ounce. The price of precious metal rose 1.4% to $ 2,049.3 an ounce. The price of gold has risen by 3.3% since the beginning of the week.

Editor’s note: This article is for reference only and does not constitute an offer, solicitation or invitation, inducement, any representation regardless of type or form, or make any suggestions and recommendations. Readers should use their independent thinking ability to make their own investment decisions If any losses are incurred due to the relevant recommendations, it has nothing to do with , the editor and the author.

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Europe has gone Downhill Gold Continues to Soar - /10


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