CAC 40 up 7.13 pc
France stock were higher after the close on Wednesday, as gains in the Oil & Gas, Technology and Gas & Water sectors led shares higher. At the close in Paris, the CAC 40 rose 7.13 percent, while the SBF 120 index added 7.07 percent. The best performers of the session on the CAC 40 were Veolia Environment VE SA which rose 12.26 percent or 3.15 points to trade at 28.84 at the close. Meanwhile, Stellantis NV added 11.90 percent or 1.54 points to end at 14.50 and Societe Generale SA was up 11.53 percent or 2.43 points to 23.50 in late trade. The worst performers of the session were Thales, which fell 4.24 percent or 4.90 points to trade at 110.80 at the close. TotalEnergies SE added 1.07 percent or 0.49 points to end at 46.23 and Orange SA was up 2.03 percent or 0.21 points to 10.48. The top performers on the SBF 120 were Faurecia which rose 17.19 percent to 26.11, Accor SA which was up 14.10 percent to settle at 27.02 and Valeo SA which gained 13.48 percent to close at 15.91. The worst performers were Dassault Aviation SA which was down 5.57 percent to 125.40 in late trade, Neoen SA which lost 4.51 percent to settle at 36.82 and Thales which was down 4.24 percent to 110.80 at the close. Rising stocks outnumbered declining ones on the Paris Stock Exchange by 513 to 95 and 60 ended unchanged. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was unchanged 0.00 percent to 18.96 a new 52-week high.
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Sensex jumps 1,223 pts
Benchmark indices ended higher for the second consecutive day on March 9 with Nifty closing above 16,300 mark. At close, the Sensex was up 1,223.24 points or 2.29 percent at 54,647.33, and the Nifty was up 331.90 points or 2.07 percent at 16,345.40. About 2585 shares have advanced, 681 shares declined, and 90 shares are unchanged. Asian Paints, Reliance Industries, Bajaj Finance, M&M and IndusInd Bank were among the top Nifty gainers. On the other hand, Shree Cements, Power Grid Corporation, ONGC, NTPC and Coal India were the biggest losers. Except metal, all other sectoral indices ended in the green with capital goods, auto and realty indices up 2-3 percent. BSE smallcap and midcap indices gained 2 percent each.
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Japan’s Nikkei reverses course to end at 16-month low
Japan’s Nikkei index reversed course to end at a 16-month low on Wednesday, tracking broader Asian markets lower, as investors assessed the impact of the worsening conflict in eastern Europe and a new U.S. ban on Russian oil. The Nikkei share average fell 0.3 percent to close at 24,717.53, its lowest since November 2020, after rising as much as 1.1 percent earlier in the session. The broader Topix also cut its gains to end 0.06 percent lower at 1,758.89. Both indexes closed lower for the fourth straight session. Investors were cautions about inflationary risks and a slowdown in global economy following the surge in oil prices. In a move that could curb economic growth, U.S. President Joe Biden imposed an immediate ban on Russian oil and other energy imports in retaliation for the invasion, amid strong support from American voters and lawmakers. The Nikkei was dragged lower by staffing agency Recruit Holdings, which fell 4.46 percent, while soy sauce maker Kikkoman lost 6.67 percent. Uniqlo clothing store owner Fast Retailing shed early gains to end 0.66 percent lower.
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All DAX index constituents are in the red ytd
The DAX index staged a strong recovery rally on Wednesday as investors anticipated a new round of stimulus from EU leaders and the European Central Bank (ECB). The index soared to a high of €13,847, which was the highest point it has been since March 2. It was also about 11 percent above the lowest level this year. A closer look at the index shows that most of its constituents have crashed by double-digits this year. Only four companies in the DAX 40 index have risen. Delivery Hero and Hello Fresh are the worst performers, having crashed by more than 50 percent this year. The two food delivery companies have dropped by over 50 percent in the past 12 months. The other worst performers are Sartorius, Puma, Zalando, and Continental. The four DAX index constituents in the green are Bayer, MTU Aero, RWE, and Fresenius. The Bayer share price has risen by over 15 percent this year although it has crashed by about 4 percent from the YTD high. The current stock price is about 22 percent above the year-to-date low. Analysts believe that Bayer will continue doing well regardless of the sanctions. MTU Aero is a leading German industrial company that manufactures several products for military and commercial airlines. It is also in the power industry, where it engineers gas turbine products. The MTU Aero share price has risen by 11.65 percent because of the strength of its military and gas businesses. Germany agreed to supply weapons to Ukraine, which is expected to benefit the firm.
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FTSE 100 raises as prudential leads financials higher
London’s FTSE 100 rose on Wednesday, aided by gains in financial stocks after insurer Prudential reported upbeat earnings, while Unilever climbed after the food company suspended imports and exports out of Russia. The blue-chip index FTSE 100 rose 2.2 percent in early trading, with banks and insurers leading the gains. Prudential jumped 5.8 percent after the Asia-focussed insurer posted a 16 percent rise in its 2021 operating profit, boosted by strong new insurance sales as the region battles the pandemic. The domestically focused mid-cap index advanced 2.4 percent, with travel and leisure among the top gainers. Unilever rose 1.0 percent after it became the first major European food company to stop imports and exports out of Russia on Tuesday following the country’s invasion of Ukraine.