Profits of PetroChina rise 60%

Asia’s largest oil and gas producer PetroChina Co reported a 60% yearly rise in net profit. The increase was lifted by higher global energy prices. Net profit for the January to September period reached $16.6 billion.

More market movers from category

Alibaba soars 13% after announcement

The announcement of Alibaba’s plan to divide itself into six distinct businesses boosted the stock by 13%. This reorganization may result in many IPOs down the road. The segments would be cloud, e-commerce, global e-commerce, digital mapping, logistics, and a media arm.

The EU stock market in red due to banks

The European stock market was brought down by the banking sector. DAX fell 2% due to ongoing fears that another bank will crash. Deutsche Bank is down 15%, while UBS along with Credit Suisse both lost around 6%. Other notable industry players like BNP Paribas and Commerzbank suffered losses as well.

Hermes stock at new all-time high

Hermes International (RMS) jumped to a new all-time high of over 1,806 per stock. The company is up 24% so far in 2023 and up 49.5% in the last 12 months. Hermes is currently valued at 188 billion euros.

FRC gains 30% amid banking mayhem

After a banking bloodbath for the past few weeks, First Republic Bank (FRC) gained 30%. The stock jumped from $12 to $16, but is still down from $120 three weeks ago.

EU stock indices rise over 1% 📈

The European stock indices rose despite the ongoing fears of more bank collapses. DAX jumped 1.1%, slowly heading back to 15,000, and STOXX is up 1.4%.

EU stock indices fall

The European stock market digested inflation data negatively. This sent DAX 40, EU 50, and other EU stock indices approximately 2% lower on Friday.

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Saudi Aramco x China 🛢

Saudi Aramco is working with China to build a $12.2 billion oil refinery. The refinery will be in northeast China, and it is expected to be fully operational in 2026. About 300,000 barrels of oil a day will be housed at the refinery.

Alibaba soars 13% after announcement

The announcement of Alibaba’s plan to divide itself into six distinct businesses boosted the stock by 13%. This reorganization may result in many IPOs down the road. The segments would be cloud, e-commerce, global e-commerce, digital mapping, logistics, and a media arm.

5 banks investigated over $100b fraud

Five large banks in France were reportedly targeted by investigators as part of a €100 billion fraud probe. French and German  governments were involved because of a possible money laundering allegation. The banks under investigation are HSBC, Societe Generale, BNP Paribas, Exane, and Natixis.

Charles Schwab suffers losses

Charles Schwab is facing risks due to unrealized losses of over $29 billion on its balance sheet from 2022. As a result, Schwab shares have lost over a quarter of their value since March 8, with some analysts expecting earnings to suffer. The company’s CEO, Walt Bettinger, said the company is healthy and prepared to withstand the turmoil.

Hong Kong as a digital asset hub

Hong Kong still wants to become an international center for digital assets. The special administrative region’s regulators plan on getting crypto companies and bankers together. A recent Bloomberg report says that the meeting will take place at the Hong Kong Monetary Authority on April 28th.

Disney starts layoffs to save $5.5 billion

Disney CEO Bob Iger announced on Monday the start of the company’s mass layoffs. This follows the company’s plans last month to cut 7,000 workers this year in an effort to reduce costs by $5.5 billion.

News

AUD/USD falls after domestic CPI – Chinese warnings about Taiwan

It looks like the medium-term downtrend might continue for the AUD/USD pair.
Traders take the market for a red ride as risk appetite increases
SP500
-0.16%

Traders take the market for a red ride as risk appetite increases

Risk appetite dominates the market and sends the session to a red end. Commodities have been the winners of the day.
Gold jumps as stocks fall, but confidence remains weak
XAU
0.68%

Gold jumps as stocks fall, but confidence remains weak

Gold capitalized on a weaker dollar today, maintaining a bullish trend. Are we going back to $2,000?

Forex outlook: Current state of CAD/JPY, EUR/AUD, and AUD/JPY

Explore current trading situation from the forex market, which we analyzed with technical analysis amid rising volatility.