STOCK MARKET

Category Added in a WPeMatico Campaign

The TOP 25 countries leading the way in Cryptocurrency Ownership

By
Helena-Reet Ennet
-

NordenBladet – Cryptocurrencies have taken the world by storm, with a global market value of $4.67 billion in 2022, projected to reach $11.71 billion by 2030, according to a report by Grand View Research. This surge is driven by the increasing adoption of distributed ledger technology and growing acceptance of digital currencies as a legitimate means of payment.

Asia-Pacific’s Crypto Surge

The Grand View Research report highlights that the Asia-Pacific region is at the forefront of cryptocurrency growth, with China, Japan, and South Korea leading the charge. These nations are witnessing a rapid increase in crypto awareness and investments in blockchain technology.

Navigating Regulatory Challenges

While the crypto industry continues to expand, regulatory hurdles are not uncommon. Australia’s Senate Economics Legislation Committee recently rejected a bill proposing licensing systems for crypto-related services, hindering industry growth in the country. Similarly, the UK’s Financial Conduct Authority is poised to introduce strict rules on crypto marketing to protect citizens from illegal activities.

Unveiling Blockchain with Arkham’s Intelligence

Miguel Morel, a 23-year-old entrepreneur, is on a mission to deanonymize blockchain with his startup, Arkham’s Intelligence. His platform aims to shed light on cryptocurrency transactions by linking users’ blockchain identities to their real-world identities. By encouraging transparency and accountability, Miguel hopes to create a mechanism where users are incentivized to share valuable information with the crypto community.

Corporate Giants Driving Crypto Adoption

Established companies like Coinbase Global Inc., CME Group Inc., and PayPal Holdings, Inc. play a pivotal role in shaping the crypto landscape. Coinbase recently obtained approval to offer cryptocurrency futures trading, while CME Group introduced reference rates for Bitcoin and Ethereum, expanding market access. PayPal launched its own stablecoin, PYUSD, facilitating digital asset transactions.

The Global Impact of Corporate Investment

Large corporations wield considerable influence in driving crypto adoption, leveraging their extensive networks and resources for research and development. These investments enhance industry dynamics and build trust in digital assets. Many companies are also launching mobile applications to make crypto usage more accessible.

25 countries Leading in Cryptocurrency Ownership:

To provide insight into the global cryptocurrency landscape, we’ve compiled a list of the top 25 countries with the highest cryptocurrency ownership rates, based on data from Triple A. The rankings are determined by the percentage of each country’s population that owns cryptocurrencies:

25. Nepal (Crypto Ownership 4.43%)
Nearly 4.8% of Nepal’s population owns crypto.

24. Indonesia (4.55%)
Crypto as a payment method is widely accepted in Indonesia, with 4.55% of the population owning crypto.

23. Colombia (4.81%)
Approximately 4.8% of Colombia’s population, or 2.5 million people, own cryptocurrencies.

22. Morocco (4.90%)
Morocco boasts a cryptocurrency ownership rate of 4.90%.

21. Turkey (5.46%)
Turkey has 5.5% of its population, or nearly 4.6 million people, owning cryptocurrencies.

20. Argentina (5.56%)
Argentina has experienced significant growth in crypto ownership, with 5.6% of its population owning digital assets.

19. Russia (5.87%)
Russia counts nearly 14 million crypto owners, making up 5.87% of its population.

18. France (5.90%)
France has 5.9% of its population, approximately 3.4 million people, owning cryptocurrencies.

17. Philippines (6.13%)
Approximately 6.13% of the population in the Philippines owns cryptocurrencies.

16. United Kingdom (6.2%)
In the UK, 6.2% of the population, nearly 4.2 million people, own crypto, primarily among wealthier individuals.

15. Pakistan (6.40%)
Pakistan ranks among countries with high cryptocurrency ownership at 6.40%.

14. Brazil (6.98%)
Brazil has a substantial crypto community, with almost 16 million people, or 6.98% of the population, owning digital assets.

13. India (7.23%)
India ranks 12th in cryptocurrency ownership, with approximately 97.5 million crypto owners. Regulatory uncertainty persists.

12. Thailand (9.32%)
Thailand boasts a high crypto ownership rate of 9.32%, thanks to favorable laws.

11. South Africa (9.4%)
South Africa has a thriving crypto market, with a large middle-class population investing in digital assets.

10. Venezuela (10.30%)
Venezuela is a major crypto market, with 10% of its population owning digital assets.

9. Nigeria (10.34%)
Africa is witnessing rapid crypto growth, with Nigeria ranking high in ownership at 10.34%.

8. Kenya (10.71%)
Kenya has a substantial crypto community, with 10.71% of its population, almost 6.1 million people, owning digital assets.

7. Singapore (11.05%)
Singapore’s crypto ownership stands at 11.05%, reflecting its status as a global financial hub and crypto hotspot.

6. Iran (13.46%)
Iran has a robust crypto market, with 13.46% of its population owning digital assets.

These countries are at the forefront of the global cryptocurrency revolution, showcasing the growing acceptance and adoption of digital currencies on a worldwide scale. As crypto continues to shape the financial landscape, these nations are setting the pace for others to follow.

5. United States (13.7%)
Cryptocurrencies are highly popular in the United States. The government regulations are supportive and there is an exponential increase in the use of blockchain technology.

4. Ukraine (15.72%)
Amidst the Ukraine-Russia conflict, residents of Ukraine turned to foreign currencies and crypto as a safe haven. This has particularly fueled the use of crypto in Ukraine.

3. Saudi Arabia (17.53%)
Saudi Arabia is one of the largest markets for crypto in the world. Almost 17 % of the total population in Saudi Arabia owns crypto.

2. Vietnam (18.73%)
Vietnam ranks high among the countries with the highest cryptocurrency ownership. The rapid digitization of the economy explains the surge in crypto ownership across the country.

1. United Arab Emirates (27.67%)
The United Arab Emirates holds the largest ownership of crypto. The use of cryptocurrency is legal in the country, and government regulations are also favorable towards blockchain technology. Almost 28% of the total population in the country owns crypto.

Featured image: UAE (Unsplash)

Sweden: The weakened Swedish krona raises the prices of wines in Systembolagets

By
Helena-Reet Ennet
-

NordenBladet – On September 1, the prices of wines will be increased further in Systembolagets, with some wines the price increase is up to 43%. This is the third time this year that the prices of several popular wines have increased.

At the New Year, the prices of all wines in Systembolaget were increased, this decision was related to the alcohol tax.

In March, several suppliers decided to raise prices due to rising costs.

And now the time is ripe for a price increase again. From September 1, several popular wines will become more expensive. This increase is mainly due to the weakening of the Swedish krona, which makes it more expensive for suppliers to import wine to Sweden.

Systembolaget, colloquially known as systemet or bolaget , is a government-owned chain of liquor stores in Sweden. It is the only retail store allowed to sell alcoholic beverages that contain more than 3.5% alcohol by volume. Systembolaget acts as a portal for private companies selling alcohol on the Swedish market and as of 2023, it represents 1,200 vendors ranging from small local breweries to large scale importers and multinational companies, selling products from a total of over 5,000 producers from all over the world.

Systembolaget also sells non-alcoholic beverages, although this product segment represents less than half a percent of the company’s total sales of beverages. The minimum age to buy alcohol at Systembolaget is 20 years. At Swedish restaurants and bars the legal age to buy alcoholic beverages is 18 years, though bars and clubs may voluntarily set an age limit higher than 18 if they prefer.

Systembolaget’s stores must close no later than 20:00 on weekdays and 15:00 on Saturdays. On Sundays and public holidays all Systembolaget’s stores are closed. Systembolaget’s stores are also closed on Christmas Eve and Midsummer Eve.

Featured image: Unsplash

Norway: Many banks are experiencing an increase in applications for deferred loan payments

By
Helena-Reet Ennet
-

NordenBladet – Many banks in Norway, including Sparebank 1 Nord-Norge, DNB, and Nordea, are experiencing an increase in applications for deferred loan payments, also known as “avdragsfrihet.” This surge in requests is due to concerns about rising loan costs caused by recent interest rate hikes.

Deferred loan payments allow borrowers to pay only the costs associated with having a loan and postpone the repayment of the principal amount. It’s intended as a temporary solution to help borrowers navigate financially challenging periods.

Stein Vidar Loftås, Chief Communications, Community, and Sustainability Officer at Sparebank 1 Nord-Norge, noted an increase in the number of avdragsfrihet applications. He explained that some borrowers who are in generally stable financial situations may need temporary relief when unexpected expenses arise, such as car repairs or appliance replacements.

One individual, Runar, sought avdragsfrihet to manage increased loan costs resulting from recent interest rate hikes. He initially requested this option to have more financial flexibility during a challenging period but found it especially helpful as interest rates continued to rise.

High loan costs have become a concern for many borrowers in Norway due to interest rate hikes. Kjersti Haugland, Chief Economist at DNB, explained that avdragsfrihet is one way for borrowers to shield themselves from the impact of higher interest rates. However, she emphasized that borrowers can also consider refinancing their loans or extending their loan terms as options to mitigate the effects of rising rates.

While avdragsfrihet can provide temporary financial relief, it’s essential to understand that it postpones loan repayment rather than reducing the total amount owed. Financial institutions, such as Nordea, have reported a significant increase in avdragsfrihet requests, with contributing factors being post-holiday credit card bills and an uptick in divorces.

Despite the increase in applications, many borrowers have prepared for tougher economic times and have established financial buffers. Loftås noted that most borrowers have calculated their financial limits to be higher than current conditions, indicating that the rise in interest rates may not have drastic consequences for the average borrower. When faced with financial challenges, individuals often make adjustments by cutting non-essential expenses or postponing luxury purchases before considering changes to their home loans.

Rising interest rates in Norway have led to an increase in avdragsfrihet requests from borrowers looking for temporary relief from higher loan costs. While this option can provide short-term financial flexibility, borrowers should carefully consider their financial situation and explore other alternatives, such as loan refinancing or extending loan terms, to manage the impact of interest rate hikes.

Featured image: DBN Bank in Stavanger, Norway (NordenBladet)

Norway: Norgesgruppen earned NOK 1.6 billion before tax in the first half of the year

By
Helena-Reet Ennet
-

NordenBladet – The Norgesgruppen grocery chain earned NOK 1.6 billion before tax in the first half of 2023. Norgesgruppen owns, among other things, the Kiwi and Meny chains. The group had operating income of NOK 54.3 billion in the first half of the year. Last year, the figure was 49.4 billion, they report in a press release.

Profit before tax fell to NOK 1.61 billion, compared to NOK 1.64 billion last year.

“Our investments in price cuts have kept us competitive in a tough market, and we have achieved solid growth in operating income,” says Group CEO Runar Hollevik in Norgesgruppen.

“At the same time, we are able to make our operations more efficient in order to handle the increased costs, which is crucial in the times we are in when everything costs more,” he adds.

Investments in price cuts over a longer period weakened the operating margin by 0.4 percentage points from 3.4 percent to 3.0 percent in the first half of 2023, the company writes.

“The competition for customers in food markets is fierce, but taken as a whole, Norgesgruppen wins customers. Increased costs for important input factors such as goods, packaging and rent also affect results in the first half of the year. So far in 2023, the extraordinary cost increases from the suppliers have also continued.”

Featured image: Kiwi shop in Ål, Norway (NordenBladet)

Hasbro’s stock trading ascends with Baldur’s Gate 3 triumph

By
Helena-Reet Ennet
-

NordenBladet – “Baldur’s Gate 3” boosts Hasbro’s stock trading success. The release of Baldur’s Gate 3, a highly acclaimed role-playing video game from Larian Studios, has sent ripples through the gaming world. But the impact doesn’t stop at the gaming community; it’s reverberating in the stock market as well.

Hasbro, a household name in the world of entertainment and gaming, is set to reap substantial benefits from this game’s success. With its stock trading on multiple exchanges, including the NYSE and NASDAQ, Hasbro is poised for significant gains. The game’s popularity, along with other key factors, has analysts and investors eyeing Hasbro’s stock with great anticipation. In this story, we delve into the connection between Baldur’s Gate 3’s triumph and Hasbro’s stock performance, uncovering the promising prospects that lie ahead for this global entertainment giant.

Baldur’s Gate 3, developed and published by Larian Studios, stands as the third installment in the Baldur’s Gate series, rooted in the Dungeons & Dragons tabletop role-playing universe. Initially, a partial version of this game debuted in early access format on macOS, Windows, and the Stadia streaming service on October 6, 2020. It continued in this early access phase until its full release on Windows on August 3, 2023. There are plans for macOS and PlayStation 5 versions to launch on September 6, 2023, while the Xbox Series X/S version is anticipated in 2023. Regrettably, the Stadia version got canceled when Stadia ceased operations.

Critics showered Baldur’s Gate 3 with praise, applauding its gameplay, storyline, abundant content, and the wide array of choices available to players.

Baldur’s Gate 3 is a role-playing video game offering both solo and cooperative multiplayer modes. Players can craft one or more characters and assemble a party, which can include pre-generated characters, to delve into the game’s narrative. Additionally, players have the option to take one of their characters online to form a party with other players. Much like previous entries in the Baldur’s Gate series, the game features turn-based combat, akin to Larian’s earlier titles Divinity: Original Sin and Divinity: Original Sin II, with all combat adhering to the D&D 5th Edition rules.

The game unfolds in the year 1492 DR, taking place more than 120 years after the events of Baldur’s Gate II: Shadows of Amn and a few months after Baldur’s Gate: Descent into Avernus. Its storyline offers a branching narrative characteristic of classic CRPGs, where the core story elements remain fairly consistent regardless of player choices, yet with substantial variations in the details, particularly in relation to the numerous side quests. Players have the option, at the game’s outset, to either create an entirely original character with an open backstory or select one of seven pre-made “origin characters.”


Trading chart of Hasbro stock (HAS) for the last month on the NasdaqGS exchange (Source: Finance.Yahoo.com)

In an unrelated note, Bank of America has expressed optimism about Hasbro’s stock, forecasting further gains. This positivity stems from strong demand for three of Hasbro’s game properties. The bank maintained its “Buy” rating and raised its price target to $90, up from $85, indicating a 41% potential upside from the previous day’s closing price. In response to this bullish outlook, the stock witnessed a more than 7% surge on Tuesday (22. August), Yahoo reports.

Bank of America’s confidence in Hasbro’s prospects is grounded in the success of Magic: The Gathering expansion sets, as well as the popularity of two recently launched digital games from which it collects royalties: Monopoly Go and Baldur’s Gate 3.

Meanwhile, Dungeons & Dragons-based Baldur’s Gate 3 has already sold more than 2.5 million units since it was released on the PC earlier this month. The game will be released on the Playstation 5 early next month.

Bank of America estimates Hasbro could collect $60 million in royalties from Monopoly Go if it reaches $500 million in revenue in its first year, and $61 million in royalties from Baldur’s Gate 3 if it can sell 10 million units.

Look also:

$80 BILLION Weight Loss industry enters ‘Age of Ozempic’, Shares of Novo Nordisk (NVO) rally

By
Helena-Reet Ennet
-

NordenBladet –  In recent times, the popularity of Ozempic, Rybelsus, Wegovy, Mounjaro, and other weight-loss drugs has soared, causing a significant impact on the weight-loss industry. Big pharmaceutical companies are witnessing a gold rush with these drugs, which are being widely promoted in advertisements, awards shows, and headlines. The pharmaceutical alternatives have made it easier and more effective for people to achieve weight loss without the need for traditional methods like diets, exercise, and behavioral changes.

The $80 billion weight-loss industry, which includes well-known companies like WeightWatchers, Jenny Craig, Nutrisystem, and Noom, is facing a more complex landscape as customers turn to these new drugs. For decades, these weight-loss companies have thrived by promoting willpower and lifestyle changes, but the pharma-driven era is now posing a challenge to their traditional approaches.

WeightWatchers and Noom, recognizing the evolving science and changing consumer preferences, are adapting to the new trend. WeightWatchers’ CEO, Sima Sistani, acknowledged their willingness to learn and evolve by acquiring Sequence, a telehealth business that allows patients to receive virtual prescriptions for the weight-loss drugs. Similarly, Noom launched Noom Med, a telehealth platform with a similar purpose.

This transformation has the potential to revolutionize the dieting industry, with some experts even predicting the possible “demise of dieting.” As the pharmaceutical alternatives gain prominence, both WeightWatchers and Noom have faced financial challenges. The 40-year-old Jenny Craig has also experienced difficulties and recently closed down, selling its brand to Nutrisystem’s parent company.

The rise of weight-loss drugs like Ozempic is reshaping the weight-loss industry, presenting both challenges and opportunities for companies that have long relied on traditional methods. It’s not just a business story but also reflects cultural and societal shifts in how people approach weight loss.



NVO One Year Trading Chart: Shares of Novo Nordisk (NVO) are up nearly 120% since Wegovy debuted in June 2021. This makes it Europe’s second most valuable listed company after luxury brand LVMH. Danish drugmaker also ramps up production to meet growing demand in US (Yahoo Finance extract as of July 25, 2023)
________________________
Semaglutide, sold under the brand names Ozempic, Wegovy and Rybelsus, is an antidiabetic medication used for the treatment of type 2 diabetes and an anti-obesity medication used for long-term weight management, developed by Novo Nordisk in 2012. It is a peptide similar to the hormone glucagon-like peptide-1 (GLP-1), modified with a side chain.

Semaglutide is a GLP-1 receptor agonist, meaning that it mimics the action of the human incretin GLP-1, thereby increasing insulin secretion and increasing blood sugar disposal and improving glycemic control. Side effects include nausea, vomiting, diarrhea, abdominal pain, and constipation.

In 2020, semaglutide was the 129th most commonly prescribed medication in the United States, with more than 4 million prescriptions.

Photo: Rybelsus tablets produced by the Danish pharmaceutical manufacturer Novo Nordisk (NordenBladet)
Source: NordenBladet.ee

The Meme Stock frenzy: A Speculative surge captivating investors

By
Helena-Reet Ennet
-

NordenBladet – Meme stocks have taken the financial world by storm this year, surpassing the performance of traditional S&P 500 stocks and attracting both retail and institutional investors. Stocks such as Carvana (CVNA), Coinbase (COIN), and Tesla (TSLA) have experienced remarkable gains, igniting a wave of interest and FOMO (Fear of Missing Out) among market participants.

“Has everybody lost their minds? It’s great that Carvana pulled off such a stock-goosing magic trick, but lost in all of the mania of the market is that the viability of the company’s business remains a question mark … and until proved otherwise, investing in Carvana continues to be a dash for trash. Keep in mind the stock tanked 98% in 2022,” wrote Herb Greenberg in Empire Financial Daily.

Chart: One-year summary of Carvana stock (taken 25-07-2023). Source: Yahoo Finance

But it’s not simply beginning investors capitalizing on the meme rush. The Roundhill Meme Stock ETF (MEME) has surged by an impressive 61% year-to-date, and even established players like ARK Innovation ETF (ARKK) and ProShares Bitcoin Strategy ETF (BITO) have benefitted from the speculative excitement.

However, with rapid growth come questions about the sustainability of these gains and the potential risks involved.

Biggest Meme Stock gainers:

Company Ticker 2022 YTD % ch. Sector
Carvana (CVNA) -98.0% 875.7% Consumer Discretionary
Riot Platforms (RIOT) -84.8 413.7 Information Technology
Marathon Digital (MARA) -89.6 377.9 Information Technology
Upstart Holdings (UPST) -91.3 307.5 Financials
Coinbase Global (COIN) -86.0 179.5 Financials
DraftKings (DKNG) -58.5 168.7 Consumer Discretionary
Palantir Technologies (PLTR) -64.7 154.3 Information Technology
Carnival (CCL) -59.9 121.2 Consumer Discretionary
Tesla (TSLA) -65.0 118.5 Consumer Discretionary
SoFi Technologies (SOFI) -70.8 104.9 Financials

What Is a Meme Stock?
A meme stock refers to the shares of a company that have gained viral popularity due to heightened social sentiment. This social sentiment is usually due to activity online, particularly on social media platforms.

History

Interest in meme stocks started in 2020, in what the U.S. Securities and Exchange Commission has called a “meme stock phenomenon”. The stock of American video game retailer GameStop has been one of the most popular meme stocks, with mass purchases of the stock leading to the GameStop short squeeze in early 2021. The stock of entertainment company AMC is also cited as a prominent example.Other examples include the stocks of Bed, Bath & Beyond, National Beverage, and Koss.The distinction between a meme stock and a non-meme stock is not always clear; for example, Tesla has some of the characteristics of a meme stock: a high price-earnings ratio and being frequently discussed by amateur retail traders on social media, yet some professional analysts do not consider it to be overpriced.

Interest in meme stocks is associated with trading platform Robinhood, which pioneered commission-free trading. According to The New York Times, “Robinhood was the tool of choice for traders in the original meme stocks”.

Some meme stocks have often become popular among retail investors after being targeted by short-selling professional investors, such as hedge funds,with participants having the explicit aim of causing losses among those firms. News coverage has described the choice to purchase such stocks as an act of rebellion intended to humble short-selling professional investors.

According to an SEC report, while some hedge funds had big losses, the meme stocks phenomenon did not widely impact hedge funds.The SEC staff report also stated, “some investors that had been invested in the target stocks prior to the market events benefitted unexpectedly from the price rises, while others, including quantitative and high-frequency hedge funds, joined the market rally to trade profitably.” By June 2021, according to Financial Times, some hedge funds were systematically analyzing meme stocks.

Worldcoin experienced a rally on its first day of trading as investors showed interest in the hype surrounding artificial intelligence

By
Helena-Reet Ennet
-

NordenBladet – Worldcoin (WLD), a cryptocurrency project co-founded by OpenAI CEO Sam Altman, experienced a rally on its first day of trading as investors showed interest in the hype surrounding artificial intelligence. The token’s price surged from an initial value of $1.70 to a peak of $3.58 before settling at $2.52. By 11:12 a.m. in London, approximately $145 million worth of Worldcoin had been traded, with exchanges like Binance listing the token.

Worldcoin’s unique selling point is its “orb” device, which scans people’s eyeballs to create a distinct digital identity known as World ID. This World ID provides “proof of personhood” in the Worldcoin ecosystem. The project’s white paper indicates a capped initial supply of 10 billion tokens, with the launch featuring 143 million Worldcoins. Out of these, 100 million were given to market makers, while the remaining 43 million were allocated to investors who underwent verification using the Orb technology during the pre-launch phase.



Chart: Extract from Worldcoin trading chart on CoinMarketCap.com page 25.07.2023 at 14:28

Notably, Worldcoin is not available for trading in the United States due to regulatory restrictions.

The vision behind Worldcoin is to establish a network that combines a privacy-preserving digital identity (World ID) and, where permitted by laws, a digital currency (WLD) given to individuals merely for being human. The project aims to increase economic opportunities, distinguish humans from AI online while safeguarding privacy, enable global democratic processes, and potentially pave the way for AI-funded universal basic income (UBI).

Worldcoin has launched its World App, the first protocol-compatible wallet, which allows users to reserve their share and receive a World ID by undergoing biometric verification with the Orb device. The goal is to prove one’s genuine and unique existence online while maintaining complete privacy. The global distribution of Orbs is in progress, and individuals can locate the nearest one and book a verification appointment through the World App or worldcoin.org.

Worldcoin aspires to achieve global-scale alignment, acknowledging the challenges and uncertainties ahead. Its mission is to find innovative ways to distribute technological prosperity broadly, addressing a crucial challenge of our time. The project encourages people to join in its endeavor.

Featured image: Sam Altman

Look also:

Warner Bros.’ movie “Barbie” and Universal’s film “Oppenheimer” achieved remarkable success at the box office, resulting in record-breaking stock gains

By
Helena-Reet Ennet
-

NordenBladet – Warner Bros. “Barbie” ( WBD ) and Universal’s “Oppenheimer” ( CMCSA ) led to record box office and stock gains. Together, the films earned over $235 million at the domestic box office, surpassing expectations and making it the fourth-biggest overall weekend in box office history. “Barbie” led the way with $155 million, becoming the top opener of 2023, while “Oppenheimer” contributed $80.5 million to the total.

“Barbie,” directed by Greta Gerwig and supported by Mattel and Warner Bros., also performed well in international markets, collecting an additional $182 million from 69 countries, bringing its global earnings to $337 million. “Oppenheimer” added $93.7 million from 78 international territories, resulting in a global haul of $174.2 million.


Chart: Mattel, Inc last month trading chart in US Dollars, extract from July 24, 2023 closing price. (Source Yahoo Finance)

The positive box office performance had a notable impact on the stock market, with Mattel’s shares rising approximately 1.5% and Comcast, the parent company of Universal, experiencing a 1% increase. Warner Bros. Discovery stock initially rose in premarket but dropped about 2% at the open.

The success of these movies also benefited theater chains, with AMC reporting over 7.8 million moviegoers attending its theaters during the weekend. AMC saw the best single-day attendance since July 2019 on Saturday, and its food and beverage revenue reached its second-highest daily total ever. Cinemark similarly had a successful weekend and expects it to be its best summer weekend ever in terms of box office revenue.

Mattel, Inc., the company behind the “Barbie” brand, saw its stock rise due to the movie’s success. Mattel is a global producer of toys and consumer products, offering a wide range of products under various brands, including Barbie, Hot Wheels, Fisher-Price, and others. The company sells its products through various channels, including its website, retail stores, and wholesalers.

Overall, the box office success of “Barbie” and “Oppenheimer” brought positive momentum to the entertainment industry and boosted investor confidence in the respective studios and associated companies.

Source: NordenBladet.ee

China’s commitment to supporting its economy has lifted sentiment and offered some reassurance to investors

By
Helena-Reet Ennet
-

NordenBladet – China’s commitment to supporting its economy has boosted investor confidence and reduced concerns about an impending recession, leading to an improved outlook for companies in the industrial equipment and heavy machinery sectors, as well as those involved in the transportation of goods. The Dow Jones Industrial Average* has shown strong performance, outpacing both the S&P 500 Index and the tech-heavy Nasdaq 100 over the past month, marking its longest winning streak in over six years.

In Europe, the Stoxx Europe 600 index opened with little change, but shares in the basic resources sector saw a surge, driven by mining companies like Anglo American Plc and Rio Tinto Plc, which gained more than 3% due to an increase in metal prices following China’s recent stimulus commitment. On the other hand, health-care stocks lagged, with Bayer AG witnessing a 2.5% drop in its shares after cutting guidance. Notable individual movers included Unilever Plc, which climbed up to 5.1% following a sales beat, and Dassault Systemes SE, a French software maker, which saw a decline in its shares after delivering underwhelming results.


Chart: Chinese shares surge on Tuesday (25.07.2023). The SSE Composite Index also known as SSE Index is a stock market index of all stocks that are traded at the Shanghai Stock Exchange. There are also SSE 180, SSE 50 and SSE Mega-Cap Indexes for top 170, 50 and 20 companies respectively, and the CSI 300 Index, which includes shares traded at the Shanghai Stock Exchange and the Shenzhen Stock Exchange. (graph excerpt from Google Finance)

Chart: The Hang Seng Index is a freefloat-adjusted market-capitalization-weighted stock-market index in Hong Kong. It is used to record and monitor daily changes of the largest companies of the Hong Kong stock market and is the main indicator of the overall market performance in Hong Kong. These 66 constituent companies represent about 58% of the capitalisation of the Hong Kong Stock Exchange. HSI was started on November 24, 1969, and is currently compiled and maintained by Hang Seng Indexes Company Limited, which is a wholly owned subsidiary of Hang Seng Bank, one of the largest banks registered and listed in Hong Kong in terms of market capitalisation. It is responsible for compiling, publishing and managing the Hang Seng Index and a range of other stock indexes, such as Hang Seng China Enterprises Index, Hang Seng China AH Index Series, Hang Seng China H-Financials Index, Hang Seng Composite Index Series, Hang Seng China A Industry Top Index, Hang Seng Corporate Sustainability Index Series and Hang Seng Total Return Index Series. Hang Seng in turn, despite being a public company, is controlled by another listed international financial institution HSBC Holdings plc. (graph excerpt from Google Finance)

In the US, equity futures edged higher following a mixed session on Wall Street. While the S&P 500 posted a modest gain, the Nasdaq 100 experienced a decline after a “special rebalance.” Additionally, a gauge of emerging-market stocks saw its most significant increase in three weeks. Treasury yields remained flat, and the Bloomberg Dollar Index declined for the first time in six days.

Investors are closely observing key meetings of the Federal Reserve and the European Central Bank this week, as signs of a potential end to the cycle of aggressive policy tightening may have implications for the markets. The disappointing data from both the US and euro area on Monday provided fresh reminders of the negative effects of continuous rate hikes. However, China’s commitment to supporting its economy has lifted sentiment and offered some reassurance to investors.

______________________
* The Dow Jones Industrial Average (DJIA), Dow Jones, or simply the Dow, is a stock market index of 30 prominent companies listed on stock exchanges in the United States.

The DJIA is one of the oldest and most commonly followed equity indexes. Many professionals consider it to be an inadequate representation of the overall U.S. stock market compared to a broader market index such as the S&P 500. The DJIA includes only 30 large companies. It is price-weighted, unlike stock indices, which use market capitalization. Furthermore, the DJIA does not use a weighted arithmetic mean.

Featured image: Unsplash

123Page 1 of 3