Asian stocks turned green

Asia-Pacific stocks have posted gains in trading on Thursday. Investors have been reluctant to release data in Australia and China. 

South Korea’s Kospi leads the region’s gains with a rise of 1.01%.

Mainland China shares increased in the afternoon, with the Shanghai composite rising by 0.38%. At the same time, the Shenzhen component advanced by 0.445%. Hong Kong’s Hang Seng Index lost 0.4%.

A private survey released Thursday showed slowing growth in Chinese services activity in May. The Caixin Services Purchasing Managers Index for May stood at 55.1, down from April’s reading of 56.3. Still, it was well above the 50 level that separates expansion from contraction.

PMI readings above 50 represent expansion, while those below 50 represent contraction. The PMI readings are sequential. They represent expansion or contraction month over month.

In Japan, the Nikkei 225 gained 0.47%. At the same time, the Topix index advanced by 0.83%.

Shares in Australia also increased. The S&P/ASX 200 index progressed by 0.44%. According to data released Thursday by the country’s Statistical Office, the retail sales in Australia advanced by 1.1% MoM in April.

 

European Stocks keep bullish options alive

Investors are focusing their attention on economic cooperation between US Treasury Secretary Janet Yellen and the Vice Premier of China. 

These talks favor a new climate of commercial stability that is being received in the Stock markets on both sides of the Atlantic with a moderately bullish tone.

The main European selectives remain on the resistance they managed to overcome last Friday. They give hope to those who believe bullish adventures are about to come following months. 

Futures point to a stronger open for European Stocks. The benchmark STOXX 600 is set to start with a new record high. The pan-region Euro Stoxx 50 futures increased by 0.5%. Meanwhile, futures for German DAX and London’s FTSE gained 0.1% each. 

Wall Street closes with slight gains

After a rough day, Wall Street closed with slight gains this Wednesday. The day was marked by the rise of the energy sector and volatile increases in companies associated with the Gametop phenomenon and internet memes. 

At the close of the NYSE session, the Dow Jones rose by 0.07% and added 25.07 points, to 34,600.38. At the same time, the selective S&P 500 advanced by 0.14% or 6.08 points, to 4,208.12, approaching its last record registered in May.

The Nasdaq Composite Index, listing the main technology companies, increased by 0.14% or 19.85 points, to 13,756.33.

By sectors, energy companies stood out, gaining 1.74%. Occidental Petroleum hiked by 2.60%, Chevron added 1.40%, and Marathon Oil increased by 1.09%.

This increase is linked to the continued rise in oil prices due to optimism about the economic recovery in the US and the promising outlook for fuel demand.

 

AMC cinema chain – the biggest winner of the day

The NYSE went through another day marked by trading flat pending the beige book of the Fed. The central bank has reported that the national economy expanded at a moderate rate from early April to late May. It resulted from vaccines and lockdown relaxation measures, despite supply chain disruptions.

On the other hand, Wall Street, which awaits the monthly employment report this Friday, saw a 102% rise in the AMC cinema chain.

AMC had to stop operations several times due to high volatility after launching a platform for its retail investors offering free popcorn, among other things.

Other associated firms also profited, such as GameStop (13%) and Blackberry (32%).

In the group of the 30 listed on the Dow Jones, the advance of Walgreens, Visa, IBM and Intel stood out.

The most affected were Dow Inc, with a drop of 2.07%, and Walt Disney, which lost 1.02%.

 

The Sao Paulo Stock Exchange repeats its record maximum

On Wednesday, the Sao Paulo stock market hit its sixth consecutive rise by advancing by 1.04%. The increase marked a new all-time high, moving towards 130,000 points, driven by Petrobras oil company. 

Sao Paulo renewed its record for the fourth consecutive day today. Its Ibovespa, its benchmark index, ended the session at 129,601 points, affecting the rise in Brazilian GDP, which grew 1.2% in the first quarter of the year according to Government data.

Optimism also took hold of the exchange market, where the US dollar depreciated 1.22% against the Brazilian real. The greenback reached the lowest level recorded in the country since last December.

The dollar ended the session trading at 5,083 reais for buying and selling at the commercial exchange rate.

 

Rising oil prices support a great run of Petrobras shares

The state oil company Petrobras, the largest company in Brazil, stood out among the best performances of the trading session in Sao Paulo. It followed the rise in international crude prices.

The company’s common shares led to the most significant increases of the day. They gained 4.96%, while preference shares advanced by 2.82%, and they were the most traded.

On the other hand, the mining company Vale experienced a rise in its shares by 1.41%. The preference securities of the Itau-Unibanco bank rose by 3.33%.

Among the highest gains of the day, in addition to Petrobras, the preference shares of the petrochemical company Braskem stood out; It hiked by 4.82%. Also, the ordinary shares of BRF, one of the biggest food companies, surged by 4.11%.

On the other hand, the common shares of the Bolsa were the biggest losers, with a fall of 3.90%. It was followed by the health insurance administrator SulAmerica dropping by 3.35%. Internet services company LocaWeb decreased by 3.16%.

The Sao Paulo Stock Exchange volume exceeded 41,364 million reais (about 7,792 million dollars).