International News and Market Update

 International News and Market Update

International News and Market Update.

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International Market Update

– European stock markets closed lower on Monday at the start of the first full trading week in October. The pan-European Stoxx 600 provisionally closed 0.4% lower, with technology stocks falling more than 2.1% to lead the losses. Eurozone finance ministers met yesterday to discuss EU stimulus, banking union and fiscal policy, among other issues. British supermarket chain Sainsbury rose 3.3% as speculation continued that it could be a takeover target following the sale of rival Morrisons to U.S. private equity firm Clayton, Dubilier & Rice (CD &R).

– The main indices posted sharp losses at the start of the week as investors continued their move away from technology stocks in the face of rising bond yields. Big tech stocks like Apple, Nvidia, Amazon and Microsoft fell as investors looked to bond yields. The rise in interest rates at the end of September hurt highly valued tech stocks. The yield on the 10-year U.S. Treasury note rose slightly on Monday to trade at 1.48%. The yield on 10-year U.S. Treasuries hit 1.56% last week, the highest since June, as investors worried about inflationary pressures and tighter monetary policy.

– Asia-Pacific stocks fell in early morning trading after Wall Street suffered losses overnight, with the tech-heavy Nasdaq Composite down more than 2%. In Japan, the Nikkei 225 slipped 2.77%, while shares of Fast Retailing fell 6.98%. The Topix index also slipped 1.75%. This morning’s declines have the Nikkei in correction territory, down more than 10% from its mid-September high.

International News

Ford’s sales improve, but still fall 27.4% in third quarter

Ford Motor’s U.S. vehicle sales improved in the third quarter but still fell 27.4% from a year earlier as a persistent shortage of semiconductor crisps disrupted vehicle production. The sharp decline was less than automotive forecasters expected, but more than the industry as a whole, which was estimated to be down between 13% and 14% year-over-year. Cox Automotive expected Ford’s third-quarter sales to fall 37.3%, while Edmunds predicted a 29.3% decline.

Global aviation industry expected to cut losses by 78% in 2022

The global airline industry is expected to lose nearly $12 billion next year, cutting its losses by 78% from this year, as airlines slowly recover from the Covid 19 pandemic, the International Air Transport Association said in a forecast Monday. IATA, which represents nearly 300 airlines that handle more than 80% of the world’s air traffic, said the industry’s losses in 2021 will total $51.8 billion, higher than originally estimated. The April forecast was $47.7 billion.

Mandy Nunes

https://gvmarkets.com/

Mandy Nunes is the Chief Marketing Officer for GV Markets. With 15 years of experience in the Financial Services Industry within the South African market, she has held various responsibilities within the business development, marketing, operations and regulatory space – leading to a very fitting position within the Trading and Investment environment. Mandy has notably been the editor of 'The Ordinary Millionaire', along with having written numerous pieces within the industry at large. Holding both legal and wealth management qualifications, her goal is to bring about massive success for, and within, GV Markets. GV Markets is a South African forex and CFD broker that offers comprehensive trading solutions to both retail and professional traders. GV Markets prides itself in being a well-regulated and reputable STP brokerage that works according to a No-Dealing Desk trading model, offering traders access to some of the best liquidity providers in the country.

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