Trade overview: current reports, trends, indices, stock prices, bonds, foreign exchange and commodities and analyst recommendations

13:15

Bitcoin trading is losing the momentum from last week, when it crossed the $30,000 mark for the currency. In the last day, the currency decreased by 1.3% and traded for 29.9 thousand dollars per unit. The ether currency is trading for $2,089 per unit.

● Back to the big days? What threatens the rise of Bitcoin

The Japanese game giant Saga submitted a purchase offer to Rubio, the maker of the game “Angry Bird”. The offer of 776 million euros comes in exchange for full ownership of the company’s shares, and values ​​the company’s shares at a value of 9.2 euros per unit. Rubio, which is traded on the London Stock Exchange, is now up 18%.

About a month ago, Rubio announced that the talks with Playtica, in which the Israeli company offered to purchase the company from Finland in a deal of 690 million euros, ended without results.

12:05

European stock exchanges are trading with slight gains in the main stock indices. Stability is evident in futures trading on US stock market indices.

Stéphane Monnier, the chief investment officer of the Swiss bank Lombard Odier, states in a review that he published that “inflation continues to be an obstacle for the European economy, it hurts the pockets of consumers in the region and forces the labor unions to work to rectify the situation and to set demands for higher wages. However, the European economy shows signs of returning to normal, it looks stable and its institutions continue to adapt to the new situation. The European Central Bank expects inflation in the Eurozone to slow to 3.5% in the coming year and 2.9% in the following year. In addition, the domestic product should improve and is expected to lead to a growth of about 1 %”.

“Core inflation, which tracks longer-term changes in the underlying prices of other goods and services, rose 5.7% in the eurozone. In the previous year, wage growth reached a record annual pace of 5.7% in the last three months of the past year. In addition, the most pressing economic challenge of the European Union comes precisely from the law to reduce inflation in the US, which raises the danger of withdrawing technologies and investments from the bloc. The European Union responded with its own NextGenEU package, designed to invest in infrastructure and support the transition to technologies that support the transition to a carbon-free economy,” he writes.

10:22

The trading week in Europe opened with slight increases in the main stock indices. Slight increases are also recorded in futures trading on US stock market indices, while investors await a week full of reports.

In Asia, the trading day closed with a positive trend in most stock exchanges: the Hang Seng index in Hong Kong recorded an increase of about 1.7%, in Tokyo the Nikkei climbed by about 0.1%, and in Seoul the Kospi rose by about 0.2%. The Shanghai Stock Exchange rose by about 1.4%.

08:00

Asian stock markets are trading in a mixed trend, at the start of the global trading week: the Hang Seng index in Hong Kong registers an increase of about 0.5%, in Tokyo the Nikkei registers a slight decrease, and in Seoul the Kospi falls by about 0.2%. The Shanghai Stock Exchange rises by about 1%.

Trading in futures contracts on US stock market indices now shows a mixed trend.

The reporting season in the US enters into high gear this week and next week. On Tuesday Netflix will publish results after the end of trading, and on Wednesday Tesla. Bank of America, Goldman Sachs and Johnson & Johnson will also publish this week on Tuesday before trading, the chip giant ASML and Morgan Stanley on Wednesday at noon, IBM after trading, and Procter & Gamble on Friday.

Trading in US government bonds is currently stable. In the US, government bond yields rose on Thursday and Friday. The 10-year bond yield jumped on these two days from 3.38% to 3.51%, and the two-year bond yield rose from 3.95% to 4.09% – most of the increase on Friday.

Alex Zbzinski, Meitav’s chief economist, notes in his weekly review that “Investors in the American bond market are mainly focused on inflation data. But there is another factor that can play a significant role. In the first quarter, the deficit in the government budget rose to almost 7% compared to 5.5% in the second half of 2022. The increase in the deficit is mainly due to the rapid increase in government spending, while the revenue side has been at a standstill for the past year. The effect of the deficit on bond yields is not linear. Sometimes changes in the deficit have no effect, but under the current circumstances of high inflation, rising interest rates and the risk of debt ceiling failures, the issue of the deficit can become a significant risk.”

In the global forex market, the trading week opened with the dollar strengthening by slight rates of 0.1%-0.2% against the euro, the pound and the Japanese yen.

Crude oil contracts are stable: the price of a barrel of American oil stands at 82.5 dollars (after a 3.5% increase last week and a jump of about 22% within a month), and the price of Brent oil stands at 86.3 dollars per barrel.

Gold is stable around $2,020 per ounce.

There are declines in the crypto market: Bitcoin is trading around $30,000, and Ethereum is trading around $2,090.