Germany stocks lower at close of trade; DAX down 3.94% By Investing.com


© Reuters. Germany stocks lower at close of trade; DAX down 3.94%

Investing.com – Germany stocks were lower after the close on Wednesday, as losses in the , and sectors led shares lower.

At the close in Frankfurt, the lost 3.94%, while the index declined 2.89%, and the index fell 2.32%.

The best performers of the session on the were Fresenius Medical Care KGAA ST (DE:), which rose 0.07% or 0.040 points to trade at 60.270 at the close. Meanwhile, Heidelbergcement AG O.N. (DE:) fell 0.35% or 0.135 points to end at 38.650 and Fresenius SE & Co KGAA O.N. (DE:) was down 1.58% or 0.540 points to 33.625 in late trade.

The worst performers of the session were MTU Aero Engines NA O.N. (DE:), which fell 10.12% or 13.50 points to trade at 119.85 at the close. Daimler AG NA O.N. (DE:) declined 6.89% or 1.895 points to end at 25.590 and Continental AG O.N. (DE:) was down 6.79% or 4.44 points to 60.96.

The top performers on the MDAX were Rocket Internet (DE:) which rose 3.47% to 19.07, Gerresheimer AG (DE:) which was up 3.29% to settle at 59.700 and TeamViewer AG (DE:) which gained 2.78% to close at 37.40.

The worst performers were Airbus Group SE (DE:) which was down 12.17% to 52.30 in late trade, Prosiebensat 1 Media AG (DE:) which lost 8.60% to settle at 6.6080 and Rheinmetall AG (DE:) which was down 7.90% to 59.000 at the close.

The top performers on the TecDAX were TeamViewer AG (DE:) which rose 2.78% to 37.40, Qiagen NV (DE:) which was up 0.71% to settle at 36.915 and Jenoptik AG (DE:) which gained 0.60% to close at 14.990.

The worst performers were Drillisch AG (DE:) which was down 5.95% to 17.870 in late trade, Varta AG (DE:) which lost 5.18% to settle at 62.300 and SAP SE (DE:) which was down 4.96% to 97.380 at the close.

Falling stocks outnumbered advancing ones on the Frankfurt Stock Exchange by 537 to 174 and 32 ended unchanged.

Shares in TeamViewer AG (DE:) rose to all time highs; up 2.78% or 1.01 to 37.40. Shares in TeamViewer AG (DE:) rose to all time highs; rising 2.78% or 1.01 to 37.40.

The , which measures the implied volatility of DAX options, was up 3.11% to 52.02.

Gold Futures for June delivery was down 0.04% or 0.65 to $1595.95 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May fell 1.66% or 0.34 to hit $20.14 a barrel, while the June Brent oil contract fell 6.15% or 1.62 to trade at $24.73 a barrel.

EUR/USD was down 0.97% to 1.0922, while EUR/GBP fell 0.73% to 0.8814.

The US Dollar Index Futures was up 0.66% at 99.748.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Japan stocks lower at close of trade; Nikkei 225 down 4.50% By Investing.com


© Reuters. Japan stocks lower at close of trade; Nikkei 225 down 4.50%

Investing.com – Japan stocks were lower after the close on Wednesday, as losses in the , and sectors led shares lower.

At the close in Tokyo, the lost 4.50%.

The best performers of the session on the were NEC Corp. (T:), which rose 0.89% or 35.0 points to trade at 3980.0 at the close. Meanwhile, Mitsui Fudosan Co., Ltd. (T:) added 0.40% or 7.5 points to end at 1878.0 and Nippon Yusen K.K (T:) was up 0.23% or 3.0 points to 1289.0 in late trade.

The worst performers of the session were Nippon Suisan Kaisha, Ltd. (T:), which fell 9.00% or 43.0 points to trade at 435.0 at the close. Okuma Corp. (T:) declined 8.75% or 305.0 points to end at 3180.0 and Recruit Holdings Co Ltd (T:) was down 8.57% or 239.5 points to 2556.5.

Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 3284 to 404 and 94 ended unchanged.

The , which measures the implied volatility of Nikkei 225 options, was unchanged 0.00% to 55.79.

Crude oil for May delivery was down 0.78% or 0.16 to $20.32 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June fell 4.67% or 1.23 to hit $25.12 a barrel, while the June Gold Futures contract rose 0.54% or 8.55 to trade at $1605.15 a troy ounce.

USD/JPY was down 0.05% to 107.47, while EUR/JPY fell 0.51% to 117.98.

The US Dollar Index Futures was up 0.37% at 99.460.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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U.S. pension funds may pour $400 billion into stocks, lifting virus-hit markets: JP Morgan By Reuters


© Reuters. A man wears a protective mask as he walks on Wall Street during the coronavirus outbreak in New York

By Lewis Krauskopf

NEW YORK (Reuters) – U.S. pension funds that delayed rebalancing their portfolios are likely to pump about $400 billion into stocks over the next two quarters, analysts at JP Morgan said, providing a potential boost to equity markets battered by the coronavirus pandemic.

Weeks of asset price volatility may have pushed some fund managers to postpone rebalancing portfolios where equity allocations have been knocked out of whack by a sharp decline in stocks, the bank said in a note to investors. The S&P 500 fell 20% since the start of the year, marking its worst quarter since 2008.

“We still expect that US pension funds will eventually rebalance within 1-2 quarters,” wrote strategist Nikolaos Panigirtzoglou.

The bank said its estimate of $400 billion in equity buying by the funds over the next two quarters could prove conservative. U.S. pension funds bought $200 billion in stocks by the first quarter of 2009, in the aftermath of the global financial crisis — equivalent to $600 billion today, the bank said.

Wild market swings have presented a challenge to asset managers looking to square their portfolios against a benchmark or return to their long-maintained allocation of stocks versus bonds. While the S&P is down about 24% from its February highs, unprecedented support from the Federal Reserve and a $2.2 trillion relief package from U.S. lawmakers helped stocks rally 15.5% since March 23.

At least one fund — the Los Angeles City Employees’ Retirement System, which oversees some $15 billion — is allowing its rebalancing to be deferred, according to a report in Pensions & Investments. The fund did not immediately respond turn a request for comment.

Brian Reynolds, chief market strategist with Reynolds Strategy, said in a note this week a rebalancing that leads pensions to sell bonds and buy stocks “makes no sense for pensions given the capital calls they are facing from credit and related products.”

Some index providers, such as S&P Jones Indices, have delayed their quarterly rebalancing due to the market volatility, potentially complicating the picture for funds that look to track index performance.

Last week’s rally in stocks may have helped boost some funds’ equity allocations, making the need to increase exposure less acute, said Mike Schumacher, head of macro strategy at Wells Fargo (NYSE:) Securities.

The bank last week had estimated that U.S. corporate pensions will need to shift about $40 billion from fixed income into equities to maintain allocation targets. Its estimate now stands at $20 billion following last week’s rally, Schumacher said.

At the same time, mutual funds, pensions and other asset managers rebalancing their portfolio may have stoked some of last week’s gains.

Steven DeSanctis, an equity strategist at Jefferies, said moves from fixed income into equities “most likely” happened last week, adding that “the rebalancings don’t have to take place on the 31st.”

Jack Janasiewicz, portfolio strategist at Natixis Investment Managers Solutions, said some of the market’s recent gains have come from quarter-end and month-end rebalancing.

“Once we get through the next couple of days, it’s going to be a little bit more interesting because the question then becomes, ‘Do we return really back to fundamentals and technicals?’.”





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Germany stocks higher at close of trade; DAX up 1.22% By Investing.com


© Reuters. Germany stocks higher at close of trade; DAX up 1.22%

Investing.com – Germany stocks were higher after the close on Tuesday, as gains in the , and sectors led shares higher.

At the close in Frankfurt, the added 1.22%, while the index climbed 1.89%, and the index gained 1.01%.

The best performers of the session on the were Heidelbergcement AG O.N. (DE:), which rose 4.80% or 1.775 points to trade at 38.785 at the close. Meanwhile, Merck KGaA (DE:) added 4.37% or 3.91 points to end at 93.39 and Wirecard AG (DE:) was up 4.18% or 4.160 points to 103.700 in late trade.

The worst performers of the session were Beiersdorf AG O.N. (DE:), which fell 1.74% or 1.630 points to trade at 92.040 at the close. Deutsche Telekom AG Na (DE:) declined 1.50% or 0.180 points to end at 11.825 and Deutsche Lufthansa AG (DE:) was down 1.38% or 0.120 points to 8.562.

The top performers on the MDAX were Metro Wholesale & Food Specialist AG (DE:) which rose 9.92% to 7.8680, Prosiebensat 1 Media AG (DE:) which was up 8.69% to settle at 7.2300 and Hugo Boss AG NA O.N. (DE:) which gained 8.50% to close at 23.110.

The worst performers were Varta AG (DE:) which was down 5.60% to 65.700 in late trade, Airbus Group SE (DE:) which lost 2.38% to settle at 59.55 and K+S AG NA O.N. (DE:) which was down 1.96% to 5.308 at the close.

The top performers on the TecDAX were Nemetschek AG O.N. (DE:) which rose 5.74% to 45.280, CompuGroup Medical AG O.N. (DE:) which was up 5.47% to settle at 55.950 and Software AG (DE:) which gained 4.75% to close at 27.445.

The worst performers were Varta AG (DE:) which was down 5.60% to 65.700 in late trade, Nordex SE O.N. (DE:) which lost 2.14% to settle at 7.100 and Deutsche Telekom AG Na (DE:) which was down 1.50% to 11.825 at the close.

Rising stocks outnumbered declining ones on the Frankfurt Stock Exchange by 502 to 189 and 50 ended unchanged.

The , which measures the implied volatility of DAX options, was down 11.79% to 50.45.

Gold Futures for June delivery was down 2.51% or 41.20 to $1602.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May rose 1.10% or 0.22 to hit $20.31 a barrel, while the June Brent oil contract fell 0.11% or 0.03 to trade at $26.39 a barrel.

EUR/USD was down 0.63% to 1.0976, while EUR/GBP fell 0.37% to 0.8862.

The US Dollar Index Futures was up 0.24% at 99.515.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Saudi Arabia stocks higher at close of trade; Tadawul All Share up 2.07% By Investing.com


© Reuters. Saudi Arabia stocks higher at close of trade; Tadawul All Share up 2.07%

Investing.com – Saudi Arabia stocks were higher after the close on Tuesday, as gains in the , and sectors led shares higher.

At the close in Saudi Arabia, the gained 2.07%.

The best performers of the session on the were Wataniya Insurance Company (SE:), which rose 9.99% or 2.20 points to trade at 24.22 at the close. Meanwhile, Mouwasat Medical Services Company (SE:) added 9.58% or 7.30 points to end at 83.50 and Filing & Packing Materials Co. (SE:) was up 8.73% or 2.75 points to 34.25 in late trade.

The worst performers of the session were Al Aseel Co Ltd (SE:), which fell 0.88% or 0.40 points to trade at 45.00 at the close. Saudi Fisheries Co. (SE:) declined 0.85% or 0.30 points to end at 35.20 and Abdullah Saad Mohammed Abo Moati Stationeries Co (SE:) was down 0.62% or 0.08 points to 12.82.

Rising stocks outnumbered declining ones on the Saudi Arabia Stock Exchange by 186 to 9 and 5 ended unchanged.

Crude oil for May delivery was up 3.04% or 0.61 to $20.70 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June rose 0.11% or 0.03 to hit $26.45 a barrel, while the June Gold Futures contract fell 1.13% or 18.55 to trade at $1624.65 a troy ounce.

EUR/SAR was down 0.55% to 4.1274, while USD/SAR rose 0.23% to 3.7650.

The US Dollar Index Futures was up 0.36% at 99.635.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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