18.10.2024
ECB cuts interest rates in the eurozone + TSMC rises significantly + Netflix wants to become a magnet for TV advertising + Gold price rises above the USD 2,700 mark for the first time + DAX expected to be slightly weaker after record high
The European Central Bank (ECB) cuts interest rates in the eurozone again. The deposit rate, which sets the trend on the financial market and which banks receive for money parked with the ECB, will be reduced by 0.25 percentage points to 3.25 percent, as the central bank announced in Frankfurt. The decision had been expected
Taiwan Semiconductor Manufacturing Co $TSM (+1.36%) jumped after the chipmaker posted a net profit of T$325.26 billion ($10.1 billion) in the three months to Sept. 30. The figure was higher than the Reuters estimate of T$300.2 billion. TSMC also gave an optimistic outlook for the current quarter, citing improved capacity utilization among other factors.
The lower-priced subscription with advertising will Netflix $NFLX (+0.5%) a reliable growth driver. In the countries in which it is available, the advertising offer accounted for more than half of new subscriptions in the past quarter. The number of users with such subscriptions rose by 35 percent within three months. The video streaming market leader wants to use the momentum to become more attractive to advertising customers. This could ensure that more advertising expenditure is diverted from traditional TV to the internet service. In several countries - including Germany - Netflix had abolished what was once the cheapest ad-free price tier. The result is that customers who want to save money end up with an advertising subscription. Netflix gained more than five million new customers in the last quarter. The streaming provider now has a total of around 282.7 million customer households - and expects to have around 600 million viewers.
The gold price $GOLD continued to soar at the end of the week, reaching another record high on Friday night. The price of a troy ounce (approx. 31.1 grams) passed the 2,700 dollar mark for the first time and at times cost almost 2,712 dollars. Most recently, the price was slightly lower, but still 0.65 percent above Thursday's level. The price of gold has been rising sharply for months - a year ago, a troy ounce cost less than 2,000 dollars. Traders cited the upcoming US presidential election in a few weeks as one of the reasons for the recent rise. It remains to be seen who will win the US election on November 5 - Republican Donald Trump or Democrat Kamala Harris.
According to the Dax $GDAXI record of almost 19,675 points the previous day, investors on the German stock market are likely to take it easy for the time being on Friday. Broker IG put the leading German index at 19,521 points, down 0.3 percent, a good two hours before the Xetra start. On Thursday, the European Central Bank cut its key interest rate and, with a view to possible further steps, indicated that it would wait and see how the economy develops. Overall, there were no surprises
surprises from the ECB. The data from overseas was mixed at the end of the week. Although Wall Street set further records, the momentum waned over the course of trading. The Asian stock markets were unable to find a common direction. Although China's economy grew slightly more strongly than expected in the third quarter, growth continued to cool.
Friday: Stock market dates, economic data, quarterly figures
ex-dividend of individual stocks
Procter & Gamble USD 1.01
Colgate-Palmolive 0.50 USD
Quarterly figures / company dates USA / Asia
12:55 Procter & Gamble quarterly figures
13:00 American Express Quarterly figures
Quarterly figures / Company dates Europe
07:20 Volvo AB Quarterly figures
10:30 Man and Machine Presentation 9 Month figures
Economic data
- 01:30 JP: Nationwide consumer prices September
- 04:00 CN: GDP 3Q | retail sales 9/24 | industrial production 9/24 | fixed asset investment to 9/24
- 08:00 DE: Building permits
- 10:00 EU: ECB, Current Account August | Survey of Professional Forecasters
- 11:00 DE: IG Metall Mitte, second wage negotiation with employers of the metal and electrical industry in Hesse, Rhineland-Palatinate and Saarland
- 14:30 US: Housing Starts/Permits September Housing Starts FORECAST: -0.4% yoy previous: +9.6% yoy Building Permits FORECAST: -1.7% yoy previous: +4.9% yoy
- 16:30 US: Federal Reserve Bank of Atlanta President Raphael Bostic, speech at Millsaps College in Jackson, Mississippi
- 18:30 US: Federal Reserve Bank of Atlanta President Raphael Bostic speaks at the Mississippi Council on Economic Education Forum as part of the American Enterprise Luncheon
No time specified:
- DE: Chancellor Scholz - Meeting with US President Biden | Participation in EU Summit and Euro Summit
- EU: S&P, rating review Greece | Great Britain | Italy
