Tden na trzch: Finann titles under pressure

The banking sector in America and Europe suffered losses, with Erste Bank being the hardest hit on the stock market. The Czech koruna weakened during the week and exceeded the 28 EUR / CZK level.

Royal Bank of Scotland on its knees, the government provides assistance

Monday brought early data on house prices in the United Kingdom, which fell by 1.9% in the meantime, which shows that the real estate market in the island economy is affected, but could be expected to decline. From a macroeconomic point of view, it is worth mentioning that the Central Bank of Hungary reduced its main annual rate from 10% to 9.5%. The forint later reacted to the historical lows with a slump.

For the first time in a row, the Royal Bank of Scotland reported a £ 28bn loss in 2008. If these predictions were met, this would be the largest corporate loss in British history. The shares of this bank reacted with a drop of 66%. The British government has also introduced its GBP 100bn mortgage guarantee scheme. He intended to increase his share in the Royal Bank of Scotland from 58% to 70%, with the help of issuing priority shares. During its first trading day, the shares of Lloyds Banking, which was created by the merger of Lloyds and HBOS, fell by 37%. The shares of the largest British bank HSBC also recorded a sale of a loss of 11%.

Investors did not ignore this development and issued sales orders for shares of financial institutions in large throughout Europe. The index of events in the European Monetary Union DJ Euro Stoxx 50 reacted with a slight decline. Investors experienced a hot trading session on the stock market, with Erste Bank shares falling by 12%. The shares of Komern banka were far from affected (-2.8%), probably because KB may rise up to be the healthiest Czech bank. The PX 15 index traded in the so-called SPAD by 2.9%. The United States did not trade because of the world.

The dollar reversed the trend of recent days and strengthened the euro by more than 2%. Of course, the British pound weakened for the first time after that, compared to the dollar for the whole day by more than 3%. The Czech koruna was under pressure, like most others in the region, and weakened slightly against both the euro and the US dollar.

North Sea oil Brent closed just over $ 44 a barrel. Julie Timoenkov and Vladimir Putin signed an agreement and gas supplies to Ukraine.

Continue to sell bank titles

tern in the morning brought macro data from Great Britain and the Eurozone. The level of consumer prices in the island economy rose by 3.1% in December, which is more than analysts said. This was initially assessed positively by the market, because it suggests that the fear of deflation may not appear so soon and in such a world. The consumer court survey turned out significantly better in the euro area, not what the market was prepared for, when its value reached -31 b, while the market consensus was -46 b. In the afternoon, the Central Bank of Canada decided 1.5% to 1%. This move by Canadian central banks is in line with the global tendency of central banks to expand monetary policy.

The longest events of the day took place on the stock markets, where a sharp negative sentiment continued, especially in financial terms. The S&P index for the banking sector fell by 17%, with the shares of none of the banks in the index rising. Nap. Bank of America shares lost tm aunt’s value. The overall S&P index fell by no more than 5%, slightly better than the American blue-chips index of the Dow Jones Industrial Average, which fell to the ground “only” by 4%. There was also a big sale of banks in Europe, when Barcalys, BNP Paribas and Lloyds Banking Group were among you. A similar scene took place on the stock market, where Erste Bank shares fell for the second time in a row by a double-digit percentage, specifically by 10.4%. Overall, the PX index lost 2.3%.

The common European currency weakened against the dollar, perhaps under the influence of the fact that the country of the European Monetary Union was likely to receive a downgrade of its government debt. The euro broke the magic level of 1.3 EUR / USD right at the end of the day and the markets closed around the level of 1.29 US dollars per euro. According to the British pound, it fell to its all-time low, breaking the 1.4 EUR / GBP level. The Czech koruna rubbed roughly its value on the euro streak, but fell 2% on the dollar streak.

Light US oil fell below $ 35 per barrel, Brent North Sea oil fell by about $ 1 per barrel, when the return price was about $ 43.7 per barrel. Gazprom Konen released gas pipes to Ukraine.

Great comeback of american action

Steda provided some positive data from Europe. In the early morning, we had the opportunity to learn that German producer prices fell by only 1% in December, while markets expected a deep decline as a result of subdued economic activity. A positive figure was the number of new persons applying for unemployment benefits in Britain, which was 78 thousand, while analysts predicted 82 thousand. The aunt in the United Kingdom again filled the unemployment rate in November, which rose from 6.0% to 6.1%.

In the European stock markets, we were witnessed by the great weakening, which was probably a reaction to the previous trading abroad. The shares recovered later in the session and ended up only slightly, if the performance of Western European titles is the DJ Euro Stoxx 50 index. course in ter. In the end, however, Erste shares fell by only 2.6%. The PX index lost 1.8% overall. In the United States, the shares gained their comeback, in short, the so-called “Obama rally” took place. The wide S&P 500 index jumped up by more than 4%, with a large share of the small financial sector, which added almost 7%. It was the first shares of Citi and Bank of America that deserved the most growth.

While US stocks were doing well, the dollar weakened by about 1.3% against the euro. The US dollar similarly performed on the Czech koruna, from which, according to the metal rule, it can be easily deduced that the koruna roughly rubbed its position against the euro.

At the end of the trading session, US light oil futures, still in circulation, traded at about USD 43 per barrel. The difference between Brent and WTI oil has thus changed again. Rusk gas arrived in Europe.

In the afternoon, a negative turnaround

In the early hours of the morning, data on Japan’s foreign trade was published on Thursday, which ended in a deficit of only JPY 150 billion in December, which is twice as much, analysts did not predict. Japan’s decision on years of rates was not in the eyes of investors, because keeping rates at 0.1% was clear. However, data on new industrial orders in the euro area were strong, with their volume falling by 4.5% month-on-year, but declining by 5%. The afternoon was marked by macro data from the USA, and the data was negative. There were only 550 thousand new building permits in December, as well as new construction permits. In November, the fall in property prices then reached 1.8%. These first confirm the known poor state of the US real estate market. The American labor market is not better on this either, as 589 thousand people were new enough to support unemployment, but the market expected only 545 thousand.

Stock markets in Europe, including R, reacted positively to the previous trading day in the USA. After the release of afternoon macroeconomic data in the US, the bag was quickly reversed. Both western Europe and the R ended in the dispute, where the PX index weakened by 2.1%. The main actions of Komern banka, which weakened by 3.8%, did not materialize. However, all titles fell on the stock market. The S&P 500 index lost 1.5%, the Dow Jones Industrial Average only a little less.

In the new market, during the day it looked more like a dollar against the euro, but in the end the European currency roughly lost its position. The Czech koruna weakened by about 1.5% compared to both in the changed currency. Oil has roughly cut its price.

He sold the dog sun macro data

This was the result of the Retail Managers’ Index (PMI). A preliminary estimate by PMI for the manufacturing sector in Germany showed that analysts did not make a mistake this time, when they accurately estimated the result at 32 b. nae exportry. Analogous data for the services sector amounted to 45.4 points. A full hour later, similar data were published for the entire euro area, which surprised me a bit positively. For the manufacturing sector, the estimate was 34.5 b and for the services sector for 42.5 b. However, GDP for the fourth quarter in the United Kingdom was tentatively estimated. The quarter-on-quarter fell by 1.5%, which was a mountain ride result, not overtaken by the market. Britain thus met the condition of two consecutive quarters of declining GDP, which is needed for the country to be in recession by economic definition.

At first, the pound reacted to this by falling to the 23-year low. According to the Czech koruna, the koruna weakened and exceeded the 28 EUR / CZK level. The dollar was below 21 USD / CZK at noon on Friday. This weakening of the koruna is the bottom mainly due to the fact that investors are much closer to the so-called emerging markets, to which the R is sometimes approached. Depreciation may not necessarily be the result of the fundamental fundamentals of the economy.

The sale continued on the stock markets, when e.g. The nmeck DAX index lost around 2.25% in the afternoon. The PX esk index was then not about 2.5% at the same time, when Komern banka’s shares performed best.