HCA Market Close 28.11.22
HCA Market Close 28.11.22 – Join HC Andersen Capital’s small and mid-cap bank seminar, where you can ask questions directly to the top management of numerous Danish-based banks.
Market Movements:
Denmark: OMX:C25 (-0.29%) ; Sweden: OMX:S30 (-0.96%) ; Norway: OBX:OSL (-1.18%) ; S&P 500 (-1.023%) ; Nasdaq (-0.69%); Stoxx 600 (-0.65%)
Market Drivers:
Markets fell today on political turmoil in China as images emerged over the weekend of widespread protest against Covid-zero and lockdown measures.
Rumours of a China re-opening have been squashed following rising Covid-19 cases and renewed lockdowns in Beijing and other major cities. Over the weekend, videos emerged of widespread protests against the lockdowns in many major Chinese cities, with protesters marching towards Tiananmen square. Markets expect a hard response from the CCP, and Asian markets fell this morning, with western markets also taking a hit from weakened global growth expectations in response.
Apple also took a hit as employee riots at Foxconn, Apple’s largest supplier, in response to Covid restrictions and closed-loop working conditions, is reported by Bloomberg to produce a production shortfall of close to 6 million iPhone Pro units this year. Investor confidence was also dented by another Crypto company filing for chapter 11, this time BlockFi Inc.
Snacks from the HCA Platform:
Next week HC Andersen Capital will be hosting a bank seminar hosting presentations from numerous small and mid-cap banks in Denmark. Here you can learn more about the industry post-Covid, and ask questions directly to the top management. Join us on the 8th December here: https://hca.videosync.fi/2022-08-12-bankseminar/register
Disclaimer: HC Andersen Capital receives payment from the companies for a #DigitalIR agreement./ Philip Coombes 18:10
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