Market (@MarketNewsUpdate) on getquin

getquin Daily Summary 05.07.2022

Hello getquin,

how was/is your day on the stock market? For me it was a bit more relaxed than the last weeks. Today: Dax companies raise salaries, Nexo wants to buy Vauld and Zimbabwe wants to introduce gold coins. In the special it is about the revaluation of Klarna!

Europe🌍:

1. DAX corporations increase salaries due to inflation

The first Dax companies are increasing their salary budgets because of increased inflation. This is the result of a survey conducted by Handelsblatt among the nation's 40 largest listed companies.

According to the survey, the latest budgets for pay increases at semiconductor manufacturer Infineon and chemicals trader Brenntag are above expectations. According to the survey, companies such as Adidas, Merck, Deutsche Telekom and Vonovia are increasingly factoring inflation into their pay calculations.

The corporations are responding to protracted, significant price increases with their unanticipated raises. The inflation rate in the euro zone rose to a new high of 8.6% in June. In Germany, the rate fell slightly to 7.6 percent from 7.9 percent in May.

Well, have you already been stocked up? https://bit.ly/3urXO9v

🟥 $BNR (+3.78%) (🔽 -3,25%)

🟥 $IFX (+1.59%) (🔽 -2,91%)

America🌏:

2. nexo offers purchase of Vauld

Crypto lender Nexo has signed a term sheet with rival, Vauld, giving the company 60 days for exclusive talks on a full takeover of the company. If the acquisition is successful, Nexo plans to restructure the company and seek expansion in Southeast Asia and India. Vauld had ceased operations on Monday, saying it was exploring restructuring options due to "financial challenges."

More on the purchase: https://cnb.cx/3bKBt0p

Africa 🌍:

3rd Zimbabwe to introduce gold coins as local currency crashes

Zimbabwe's central bank has announced it will begin selling gold coins as a store of value this month in a bid to curb runaway inflation that has significantly weakened the local currency.

Central Bank Governor John Mangudya said in a statement Monday that the coins will be sold in local currency, U.S. dollars and other foreign currencies starting July 25 at a price based on the current international gold price and production costs.

Special:

4. new valuation of Klarna

Swedish payment services company Klarna was once considered the most valuable startup in Europe, with a valuation of over $45.6 billion. Sebastian Siemiatkowski, the company's founder, is currently negotiating with investors for a new round of funding of around $650 million, at a valuation now of just $6.5 billion.