getquin Daily Summary 01.07.2022
Hello getquin,
New month, new luck, new market news. Topics today will be: the purchase of a German startup, the most likely interest rate hike this month and Gazprom's unpaid dividends, here we go:
Europe🌍:
Samsung buys German startup Cynora
Yesterday at noon it was announced that Samsung has bought the German startup Cynora, which specializes in the improvement of OLED displays and foldable displays, for 300 million US dollars. They have patented many of their ideas and innovations, which is why the company became so interesting for Samsung, as they have been developing foldable smartphones since 2018, but have been criticized time and again for their quality. Cynora's employees were much less interesting to Samsung than the company, many of whom have already been or will be made redundant. It is not yet certain whether all employees will be made redundant, but it looks very likely.
More insights here: https://bit.ly/3yxFj5T
🟥 $SMSD Samsung (🔽 -1.40%)
Asia🌏:
Gazprom shares slump after dividend cut
The Russian state-owned company Gazprom had to hand over large parts of its high 2021 profits to the Russian state due to the cash shortage in Russia, which has now led to it not being able to pay out its dividends. This is the first time this has happened to the company since 1998, when Famil Sadygov, Gazprom's deputy CEO, said in an interview that it was "not opportune" to "pay out" dividends based on the 2021 results. As an almost direct response to this, the price of Gazprom shares plummeted by around a quarter.
More about this here: https://cnb.cx/3nw5XGb
🟥 $OGZD Gazprom (🔽 -11.01%)
Special:
First interest rate hike in 11 years
The increase in the key interest rate, which many people have been calling for for some time, is to take effect this July due to high inflation. The increase will initially be 0.25 points, but the key interest rate may rise further. It will be the first increase in the eurozone for 11 years, but many people have already called for it from the ECB under the leadership of Mario Draghi, whose main task was to combat deflation.
What do you think of the rate hike?
Read more about the rate hike here: https://bit.ly/3I8mrh7
Stocks of the day:
🟩 TOP $Engie Brasil Ene (🔼 +31.17%)
🟥 FLOP $CYTK (-0.7%) Cytokinetics (🔽 -19.39%)
🟥 Most searched $BAS BASF, 41.34 (🔽 -0.48%)
🟥 Most traded $BAS BASF, 41.34 (🔽 -0.48%)
🟥 S&P500, 3,781.00 (🔽 -0.12%)
🟥 DAX, 23.19 (🔽 -0.09%)
🟩 $Bitcoin ₿, (🔼🔽 +0.75%)
Time: 15:30
Fun Fact:
Did you know that people in Papua New Guinea still occasionally buy things with shells and stones? What do you think, soon back in Germany? As always, let us know what you think in the comments 👇
