The OTP jumps at the favorable EU news

RockedBuzz
By RockedBuzz 10 Min Read


They rip the OTP

OTP’s shares are already up 1.8 % after the resolution to help Ukraine was made. For a very long time, it was not clear whether or not Hungary would help the proposal, however in accordance with the news, Viktor Orbán additionally voted for it. This is especially necessary, as the Hungarian market temper was decisively decided throughout Monday’s buying and selling by the undeniable fact that the EU threatened Hungary that if they don’t vote in accordance with the majority on the subject of the Ukrainians, they’ll sabotage the economic system.

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BUX rises on the news of the EU deal

Charles Michel, the president of the European Council, lately acknowledged that there’s an settlement at the EU summit on the 50 billion euro support package deal for Ukraine. As a consequence, along with the forint, the Hungarian inventory market additionally strengthens. BUX is already up 0.7 %.

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The Volvo Car is out

Volvo Car shares are up 19.3 % after the firm reported a bigger-than-expected enhance in working revenue in the fourth quarter.

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The main inventory markets are falling

After the opening, the French CAC is down 0.9 %, the German DAX is down 0.4 %, whereas the English FTSE is down 0.1 % after Fed President Jerome Powell mentioned after the rate of interest assembly on Wednesday night that it’s not even doable to depend on March rate of interest minimize.

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The unhealthy temper abroad could unfold to Europe

What are the present occasions on the inventory exchanges?

  • The main American inventory indexes closed yesterday with a fall, the Dow Jones completed the day down 0.8 %, the S&P 500 fell 1.6 %, whereas the Nasdaq closed down 1.9 %. After the American rate of interest resolution, we noticed a big reversal on the main abroad inventory markets, after the central financial institution didn’t change the rate of interest degree, nevertheless it was introduced that no rate of interest minimize could be anticipated even in March.
  • The Asian inventory markets are displaying a constructive temper this morning, the Nikkei fell 1.07 %, the Hang Seng rose 0.75 %, whereas the CSI 300 is up 1.17 %.
  • Today, based mostly on preliminary information, the deterioration in American sentiment could unfold to Europe as properly, as a smaller fall could happen in the continent’s main inventory markets: based mostly on the present state of the futures inventory indices, the DAX could drop by 0.4 %, whereas the CAC and the FTSE could open down by 0.5 %.

  • The American futures inventory indexes are forecasting an increase at the market opening, the Dow Jones could open 0.11 % larger, the S&P 500 could rise 0.2 %, whereas the Nasdaq could rise 0.31 %.

What could be anticipated on the macro entrance?

In phrases of financial data, along with detailed overseas commerce information, credit score establishment statistics might be revealed right now, whereas Eurostat will publish the preliminary inflation information for January, and in America, an necessary financial indicator, the buying supervisor index, might be revealed.

January 29-February 2024 4. Macro calendar
Hungarian macroeconomics
January30.Tuesday8:30 a.mKSHTurnover of vacationer lodgingDec.
January30.Tuesday11:30 a.mAKK3-month dkj public sale
January30.Tuesday14:00MNBInterest charge resolution
January30.Tuesday15:00MNBAnnouncement
January31.Wednesday8:30 a.mKSHIndustrial producer costsDec.
February1.Thursday8:30 a.mKSHForeign commerce (detailed)Nov.
February1.Thursday8:30 a.mMNBBalance sheets of credit score establishmentsDec.
February1.Thursday8:30 a.mMNBInterest statisticsDec.
February1.Thursday9:00 a.mMLBKTManufacturing bmiJan.
International macroeconomics
January30.Tuesday8:00 a.mGerman.GDP (preliminary)This autumn
January30.Tuesday11:00 a.mEUGDP (preliminary)This autumn
January31.Wednesday2:00 a.mChinaNBS manufacturing bmiJan.
January31.Wednesday8:00 a.mGerman.Retail commerceDec.
January31.Wednesday14:00German.Inflation (preliminary)Jan.
January31.Wednesday2:15 p.mUSAADP labor market indexJan.
January31.Wednesday20:00USAInterest charge resolution
January31.Wednesday8:30 p.mUSAJerome Powell’s press convention
February1.Thursday2:45 a.mChinaCaixin manufacturing bmiJan.
February1.Thursday11:00 a.mEUInflation (preliminary)Jan.
February1.Thursday11:00 a.mEUUnemploymentDec.
February1.Thursday13:00UKBank of England rate of interest resolution
February1.Thursday4:00 p.mUSAISM buying managers indexJan.
February2.Friday2:30 p.mUSAUnemploymentJan.
February2.Friday4:00 p.mUSAFactory ordersDec.
Source: Portfolio assortment

What has occurred on the inventory markets to this point?

  • Among the main American, Asian, European and regional inventory indexes this 12 months, the Nikkei index is at the high with an 8.4 % shift, whereas the Hang Seng index is the driving power with a 9.2 % fall.
  • Magyar Telekom’s share carried out the finest amongst home blue chips this 12 months with a 12.8 % enhance, adopted by Mol’s paper with a 3.0 % enhance.
  • Among the most necessary uncooked supplies, the worth of WTI has risen by 6.1 % since the starting of the 12 months.
More necessary devices
Exchange chargeOne day1 week1 monthThis 12 months1 12 months5 years
US inventory indices
Dow Jones38 150.3-0.8%0.9%1.2%1.2%11.9%52.6%
S&P 5004,845.65-1.6%-0.5%1.6%1.6%18.9%79.2%
Nasdaq17 137.24-1.9%-2.1%1.9%1.9%41.6%148.1%
Asian inventory indices
Nikkei36,286.710.6%0.2%8.4%8.4%32.8%74.7%
Hang Seng15,485.07-1.4%-2.6%-9.2%-9.2%-29.1%-44.6%
CSI 3003,215.35-0.9%-1.9%-6.3%-6.3%-22.6%0.4%
European inventory indices
DAX16,903.76-0.4%0.1%0.9%0.9%11.7%51.3%
CAC7,656.75-0.3%2.7%1.5%1.5%8.1%53.4%
FTSE7,630.57-0.5%1.4%-1.3%-1.3%-1.8%9.5%
FTSE MIB30,744.240.4%1.3%1.3%1.3%15.6%55.8%
IBEX10,077.70.4%1.0%-0.2%-0.2%11.6%11.3%
Regional inventory indices
BUX64,044.461.3%-0.1%5.6%5.6%41.3%56.8%
ATX3,456.480.0%0.7%0.6%0.6%2.2%15.8%
PX1,452.920.2%0.4%2.8%2.8%9.3%39.2%
WIG2077,416.311.8%2.7%-1.3%-1.3%26.3%28.2%
Hungarian blue chips
OTP16,4500.4%-1.7%4.1%4.1%52.0%44.7%
Mol2,9100.8%1.8%3.0%3.0%8.5%-11.9%
Richter9,5853.5%0.4%9.5%9.5%18.2%63.0%
Magyar Telekom7693.2%0.4%12.8%12.8%101.3%65.0%
Raw supplies
WTI76.28-2.6%1.1%6.1%6.1%-3.3%41.8%
Brent81.93-1.1%2.0%5.5%5.5%-3.7%31.6%
Ratio2,048.350.7%1.7%-0.8%-0.8%6.2%54.9%
Silver23.120.0%1.7%-4.7%-4.7%-2.4%43.8%
Foreign currencies
EURHUF383.7400-0.7%-0.8%0.4%0.4%-2.0%21.4%
USDHUF353.2705-0.9%-0.4%2.1%2.1%-2.0%28.2%
GBPHUF449.9150-0.6%-0.7%1.8%2.0%1.4%24.3%
EURUSD1.08630.2%-0.4%-1.7%-1.7%0.0%-5.3%
USDJPY147.84500.0%0.6%4.9%4.9%13.7%35.8%
GBPUSD1.27350.5%-0.2%-0.1%-0.1%3.4%-3.2%
Cryptocurrencies
Bitcoin42,558-0.9%6.2%1.1%-3.7%84.0%1,146.9%
Government papers
10-year US Treasury yield3.95-2.5%-5.5%2.1%2.1%11.9%49.8%
10-year German authorities bond yield2.13-5.1%-7.6%6.4%6.4%-5.3%2,027.0%
10-year Hungarian authorities bond yield6.16-3.4%-0.2%3.9%3.9%-24.0%119.2%
Source: Refinitiv, Portfolio

Cover picture supply: Getty Images

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