getquin Daily Summary 29.08.2022
Hello getquin,
today the market was not so positive. In addition to news on European stocks, today we have an all-round view with Asia and America. Despite that the market was generally negative, bitcoin was able to perform positively. Have fun reading!
Europe🌍:
1. central bankers cause further price losses for European stocks
European markets fell today while bond yields rose as central bankers' comments fueled concerns about drastic measures to fight inflation despite growing recession risks.
The STOXX 600 index hit a more than one-month low, and interest-rate-sensitive technology stocks also fell 1.8%. The yield on 10-year German debt rose 10 basis points to a two-month high.
Read more: https://reut.rs/3RfaZne
🟥 $SC0C (-0,74%) €97,08 (🔽 -0,08%)
🟩 10-year German government bonds 1,510% (🔼 +0,118%)
America🌏:
2nd Honda and LG to build EV battery production in U.S.
Honda Motor and LG Energy Solution announced Monday that they will spend $4.4 billion to build a new battery production facility in the United States.
As the industry tries to meet stricter requirements and accelerate the production of zero-emission cars and trucks, this news is the intention of automakers to invest in American production of battery cells for electric vehicles. General Motors, Ford Motor, Rivian Automotive and Hyundai Motor are among the other manufacturers.
Read more: https://reut.rs/3RiL6TD
🟩 $HMC (-2,33%) €26,63 (🔼 +0,13%)
Asia🌏:
3rd Chinese tech giants posted worst quarterly growth in their history
Chinese tech giants have had the worst quarter in their history as the sharp slowdown in the world's second-largest economy, fueled by Beijing's strict covid policies, takes its toll. In the second quarter of the year, e-commerce company Alibaba posted its first flat year-on-year revenue growth, and social media and gaming company Tencent reported its first revenue decline in history. JD.com, China's second-largest e-commerce company, posted the slowest revenue growth in its history, while electric vehicle maker Xpeng issued a larger-than-expected loss and a weak forecast. Together, these companies have a market capitalization of more than $770 billion. China's economy grew by only 0.4% in the second quarter, affecting consumer strength and corporate spending in areas such as advertising and cloud computing.
Read more: https://cnb.cx/3Q0e5ul
🟥 $BABA (-5,18%) €98,20 (🔽 -1,16 %)
🟥 $JD (-6,23%) €31,20 (🔽 -2,35 %)
🟥 $XPEV (+2,66%) €18,50(🔽 -2,22 %)
Welt🗺️:
4. Savage plays along with Sony's Playstation
Savage Game Studios will join PlayStation's newly formed Studios Mobile division. Sony announced today that they have reached a definitive agreement to acquire Savage Game Studios. Savage games studio, which was founded as recently as 2020 by veterans from teams at Rockstar, Wargaming, Rovio and Next Games, among others, had raised $4.4 million in seed funding just last year. Savage games works primarily on mobile content, further confirming Sony's focus on expanding their mobile games division.
For all gaming investors: https://bwnews.pr/3QUhaNM
🟥 $SONY (+10,09%) €81,84 (🔽 -2,41%)
Stocks of the day:
🟩 $PDD (-5,98%) €67,95 (🔼 +17,56%)
👍 Shares of the China-based e-commerce company rose 17.56% on the stock market after better-than-expected quarterly results. The company said its performance was boosted by a recovery in consumer sentiment.
🟥 $FTCH €10,56 (🔽 -12,62%)
👎 After gaining 17.13% on Friday, Farfetch's shares fell again today by 12.62%. This could be due to the decline to the hype from the partnership with luxury goods manufacturer Richemont (Cartier, Montblanc, A. Lange & Söhne).
🟥 $EUNL (+0,72%) €74.72 (🔽 -0.52%)
🟥 $TSLA (+9,97%) €281.30 (🔽 -2.40)
🟥 $SP500TR 4.034,48 (🔽 -0,57 %)
🟥 $GDAXI 12.897,27 (🔽 -0,57 %)
🟩 $BTC (+0,46%) ₿, €20.266,67 (🔼 +2,91 %)
Time: 18:00 CEST
(Not so) Fun Fact:
If you think we have it bad, Zimbabwe had the worst inflation in the world in 2008. 6.5 sextillion percent in November 2008 only. Again to clarify, a sextillion is a one with 36 zeros! That makes 8% sound a lot better.
