Market Update

Stellantis NV announced a new share buyback program for 2023 after the automaker posted better-than-expected annual profit, thanks to price hikes that helped outweigh lower car shipments in Europe and elevated input costs. The automaker formed from a merger between Fiat Chrysler and Peugeot-owner PSA Group in 2021 reported a 26% year-on-year jump …

Shares in Danone SA rose on Wednesday after the French food products group reported better-than-expected fourth quarter sales that were fueled by higher prices. Total sales during the three months to the end of December jumped by 12% on a reported basis to €7.01B (€1 = $1.0644), mainly driven by stronger pricing and …

Italian EU-harmonised consumer prices (HICP) fell 1.5% month-on-month in January and were up 10.7% from the year earlier, official statistics agency ISTAT said on Wednesday, revising down preliminary data. The preliminary estimate had pointed to -1.3% month-on-month and +10.9% year-on-year. January’s +10.7% annual rate was down from +12.3% in December. …

European stocks opened lower on Wednesday, weighed down by a drop in mining stocks due to a fall in metals prices, and strong economic data raised concerns that interest rates will remain high for a longer period. The pan-European Stoxx 600 index was down 0.4 percent by 0809 GMT. Investors …

Gold prices rose slightly on Wednesday as investors awaited the minutes of the latest monetary policy meeting at the Federal Reserve to assess the chances of further raising interest rates. Spot gold rose 0.1 percent to $1,835.79 an ounce by 0643 GMT. And gold futures contracts in the United States …

The dollar and the pound sterling found support on Wednesday after a sudden revival in corporate activity in the United States and Britain raised the possibility that both countries’ central banks would continue to raise interest rates. The euro compensated for some of the losses recorded in the last session, …

Inflation in Germany rose during the second reading month of January to 8.7% from 8.6% previously, in line with expectations. Energy prices rose by 23.1% despite government relief measures, as domestic energy prices jumped by 36.5%, specifically natural gas, which rose by 51.7%. The prices of firewood, wood pellets and …

Oil extended its losses on Wednesday on expectations that the Federal Reserve will signal that it will continue to raise interest rates in comments it will issue on Wednesday, raising concerns about slowing economic growth as well as demand for crude. Brent crude futures for April delivery were down 23 …

The Japanese Nikkei index closed at its lowest level in a month on Wednesday, affected by a broad wave of selling amid global political tensions and fears that raising interest rates in the United States will lead to a slowdown in the global economy. The Nikkei index lost 1.34 percent …

Wall Street returned from the long weekend and stayed in the red territory. US indexes are sharply down, losing roughly 2% each.EUR/USD trades at around 1.0650, not far from an early low at 1.0636. GBP/USD hovers around 1.2110, with the Pound supported by upbeat local data. The USD/JPY flirts with …