France-The palais de justice, Nîmes, france cordoned off after shots – press

PARIS, June 12 (Reuters) – The palais de justice, Nîmes was completed Friday morning by the police after the death of a man by a firearm in the hall of the court of appeal, reports the AFP.

Gunshots were heard within the precincts of the palace of justice to 08: 30 and a major police operation was deployed in the vicinity of the court of appeal and the court specifies on its side, the Midi Free.

Local police forces have confirmed on Twitter that security operations were underway at the palais de justice, Nîmes, france, asking people to avoid the area.

(Writing from Paris)

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HC: The global iron market has received a new shock … and we may not see improvement before 2021

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HC Securities shed light on the iron industry in Egypt under the current global conditions, and said in a report that «the global iron market received a new shock, and we may not see improvement before 2021».

Maryam Ramadan, HC industry analyst, said in a statement that the global iron market had begun to recover after the difficulties of 2019, as this year the iron industry faced trade wars, weak economies and a weak auto sector, with high prices and profit margins in The first two months, before a coronavirus outbreak and declining oil pose a risk to their recovery.

Ramadan added that the fact that Egypt is the market on which the Ezz Steel Company is based is a positive thing, as the construction sector in particular enjoys the continuation of its activity as usual, at least for existing projects, where the government is betting on it to push the economy at the present time, which is evident in the current sales volumes. “Domestic consumption is slightly higher in the first quarter of the year 20 on an annual basis.” This, coupled with the reductions in energy prices and the extension of high protective tariffs, gave a truce to the sector domestically.

He expected Ezz Steel to continue to incur losses over the past two years before turning into profitability in 2023. It reduced the target price per share by approximately 37% to reach EGP 7.5 per share, making the company an expected EV-EBITDA multiple for 2021 of 8.4 points. 8.8 points »It promises a 3.0% potential return on the April 30 closing price of 7.3 EGP per share.

  • The situation in Egypt

  • Injuries

    8,964

  • Recover

    2,002

  • Mortality

    514

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The Egyptian Stock Exchange lost 21.1 billion pounds .. and its main index down 3.85%

The main index of the Egyptian Stock Exchange, “EGX 30” decreased by 3.85% to close at 10176.73 points during the week ended, while the index of small and medium shares, “EGX 70 equal weights”, fell by 5.79% to close at 1154.42 points.

The “EGX 100” index decreased by 4.33%, closed at 1084.95 points, and the “EGX 30 Weighted Index” index decreased by 4.75%, closed at 11678.35 points, while the Nile Stock Exchange index rose by 2.96% to close at 730.82 points.

The market capital of the Egyptian Stock Exchange declined by about 21.1 billion pounds during the sessions of the past week, to close at 548.7 billion pounds, a decrease of 3.7% from last week, and the market capitalization of the main index fell from 302.8 billion pounds to 289.8 billion pounds, a decrease of 4.3%, The capital of the Small and Medium Shares Index went down from 171.8 billion pounds to 164.4 billion pounds, a decrease of 4.3%.

The capital of the broader index also declined from 474.6 billion pounds to 454.2 billion pounds, a decrease of 4.3%, while the market capital of the Nile Stock Exchange rose from 1.6 billion pounds to 1.7 billion pounds, a decrease of 2.6%.

With regard to trading, the total value of trading on the Egyptian Stock Exchange declined to 9.1 billion pounds during the past week, while the amount of trading amounted to 1.615 billion papers executed on 161 thousand transactions, compared to a total trading value of 19.4 billion pounds, and the amount of trading amounted to 2.074 billion papers executed on 180 thousand operations during the past week.

As for the Nile Stock Exchange, the total value of trading in it reached about 17.3 million pounds, and the amount of trading reached 16.2 million papers executed on 1306 transactions during the week ended, and shares accounted for 49.88% of the total value of trading inside the cabin, while the value of trading in bonds amounted to 50.12%, According to the weekly report of the Egyptian Stock Exchange.

The trading totals of the companies included in the stock indexes were distributed between 2.8 billion pounds in the main index of the stock exchange with a volume of 804.3 million executed securities, and the number of operations of 80.3 thousand transactions, and the trading value of “EGX 70” reached about 1.1 billion pounds, with a trading volume of 617.4 million executed securities Through 59.9 thousand transactions, and the turnover amounted to “EGX 100” about 4 billion pounds, trading volume of 1.4 billion securities executed through 140.1 thousand transactions.

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Learn about the arrangement of brokerage firms on the Egyptian Stock Exchange since the beginning of the year

The Financial Group Securities Brokerage Company topped the list of financial intermediation companies, in terms of the value of trading in the market inside and outside the cabin, and the Nile Stock Exchange since the beginning of the year, with a turnover of 30.123 billion pounds, with a market share of 20.1%, and the International Commercial Brokerage Company came in securities Finance, in second place, with a total trading value of 15.526 billion pounds, representing a market share of 10.3%.

And Hermes Securities Brokerage came in third place, with a turnover of 11.170 billion pounds, securing a market share of 7.4%, and in fourth place Pharos Securities came in with a turnover of 8.510 pounds with a market share of 5.7%, and in fifth place a company Pioneers Securities, with a trading value of 7.687 pounds, has a market share of 5.1%.

The sixth place was Belton Securities Brokerage Company, with a trading value of 7.097 pounds, with a market share of 4.7%, Figures for securities trading in seventh place with a trading value of 6.071 billion pounds, 4%, and Naeem Securities Brokerage Company came in eighth place with a value of 4.524 pounds 3%.

Sigma Securities Brokerage Company, HC Securities Brokerage, with turnover of 4 billion pounds and 3185 billion pounds, or 2.7% and 2.1%, respectively, came according to the Stock Exchange’s monthly report on the arrangement of brokerage firms.

The main index of the Egyptian Stock Exchange, “EGX 30” increased by 10.01% to close at 10554.04 points during the month of April, and the index of small and medium stocks, “EGX70 Equal Weights”, increased by 23.16% to close at 1225.35 points.

The “EGX 100” index increased by 10.01%, closing at 1134.08 points, and the “EGX 30 Weighted Index” index increased by 10.61%, closing at 12260.88 points, and the Nile Stock Exchange Index rose by 3.46% to close at 709.78 points.

The market capital of the Egyptian Stock Exchange increased by about 36.9 billion pounds during the sessions of the month of April last, to close at the level of 569.8 billion pounds, with a growth rate of 6.9% from the previous month, and the market capitalization of the main index rose from 275.5 billion pounds to 302.8 billion pounds, a growth rate of 9.9% The capital of the Small and Medium Shares Index increased from 163 billion pounds to 171.8 billion pounds, with a growth rate of 5.4%.

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DAX outlook: mood barometer cloudy outlook

Frankfurt In the past weeks there have been repeated attempts to recover the course, on some days one could believe that the corona pandemic has already been overcome. But on Friday, disillusionment returned – the collapsed ifo business climate index made the whole dilemma clear.

The course of the mood barometer looks like a “Highway to Hell”, was the analysis of the VP Bank. The index is now significantly below the values ​​of the crisis year 2009. The simple message for the future was: “Massive income losses are imminent. We will all get poorer. This applies not only to Germany, but to all economies. ”Sometimes it is better to hear the unvarnished truth.

Other analysts and experts are also skeptical about the weekly outlook. Cautious savings by consumers and companies create a completely different economic and inflation environment than one knows from the post-war period, the analysts at MFS Investment Management believe.

They expect the earnings recovery to be weaker than the market and point to the possible dilution of earnings through capital increases. They particularly highlight 2008 as a comparison.

“When the extreme risk of the international financial crisis subsided, companies were no longer concerned with distributions, but with recapitalization. To this end, new shares were issued – at the expense of existing shareholders, whose capital was heavily diluted, ”said the investment professionals. The new wave of recapitalization has probably just started. In the past few weeks, leisure companies and service providers in the United States and Europe have already offered new shares.

Warning to bargain hunters

The BLI – Banque de Luxembourg Investments is also cautious. “The financial markets are currently giving the impression that they are underestimating the extent of the economic damage and are counting on a rapid recovery as soon as the containment measures are reversed,” is the BLI’s assessment.

Many investors are conditioned to view any decline as an opportunity to buy. However, the analysts recall that while the fall in share prices in February / March was dramatic, the valuations were also very high. As a result, the markets today are anything but cheap, especially after the recent price recovery.

Quality companies with a very solid balance sheet, one or more sustainable competitive advantages and the ability to self-finance should be preferred. The main factor that will continue to speak for stocks remains the low interest rate level and thus the lack of alternatives. At the same time, gold will become an “indispensable part of a balanced portfolio because of the inflation risks.”

After the significant recovery since mid-March, the European stock market has recently lost some momentum, the Weberbank experts believe. In addition, the balance sheet season that is already underway shows significant impacts on corporate balance sheets due to the global “lockdowns”.

Correspondingly, the analysts have also significantly lowered their profit expectations for industrial companies, but also for the banking and energy sectors. Due to the economic slump, banks faced increased write-downs on their credit books and the massive drop in yields clouded interest income. Most recently, they also negatively impacted the rating agency Standard & Poor’s (S&P).

The Deutsche Bank and the Commerzbank were therefore particularly under pressure on Friday “We continue to distance ourselves from these sectors and prefer creditworthy pharmaceuticals or companies from the non-cyclical consumption. In addition, titles from the technology sector are promising in our eyes, ”said the Weberbank experts.

Central banks meet worldwide

If the economic situation continues to be poor, the states and central banks will have to take further support measures. Robert Greil, chief strategist at Merck Finck Privatbankiers, sees an opportunity for this next week because the European Central Bank, the US Federal Reserve and the Bank of Japan are meeting.

“As a result of the unprecedented economic downturn caused by the Covid 19 consequences, all central banks will reaffirm their willingness to support,” says Greil. The economic downturn left neither governments nor central banks a choice but to take further measures to support and recover the economy.

The gross domestic product for the first quarter of 2020 will be published in the euro area on Thursday, and new growth figures will come in the US on Wednesday. Further important economic data in Germany are the preliminary inflation figures and the labor market report for April.

According to DZ Bank, the next quarter should bring an improvement in the economy, but there does not have to be a “V” or “I” recovery. This is not ignored on the stock market, many stocks are up to 80 percent down.

A large number of “mega-caps” hold up against this, mainly in the USA. Amazon, Google, Microsoft, Netflix and Facebook, but also Adobe or Comcast, be stable on the way. Things are also going well for the great values ​​of the “old economy”, including Pepsico, Johnson & Johnson, Procter & Gamble, Home depot and Pfizer. The German Leading index Dax the strategists from DZ Bank see 11,200 points by the end of the year, and the S & P-500 for US equities at 2,800. This would at least stabilize in the medium term.

More: Yield in Corona times: With which investments you can still make money

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How professionals position themselves on the stock exchange

Frankfurt Stock Exchange

Many investors are puzzled as to where the markets will go.


(Photo: dpa)

Frankfurt The uncertainty is great. The oil price and many stock prices are in the basement. The mood among many managers is bad. The corona crisis keeps the financial markets in suspense every day. Many investors are now thinking more than ever about where to invest their money in these unstable times.

Because the violent ups and downs on the markets shows that there is still no peace on the stock exchanges. This leaves many investors in doubt about their previous investments. Keep or prefer to sell? This is an important question for many investors, especially with equities.

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Asian investors have doubts about the rapid end of the corona crisis

Tokyo

A passer-by in front of a display board of the Tokyo Stock Exchange.

(Photo: AP)

Tokyo Doubts about the rapid development of a corona drug and sobering economic data from the United States put the mood of Asian investors at the end of the week.

In Tokyo, the 225-strong Nikkei index was 0.9 percent lower at 19,262 points in the trade. On a weekly basis, it is 3.2 percent in the red.

Meanwhile, Japanese Minister of Economy Yasutoshi Nishimura is nevertheless optimistic about the government’s new stimulus package. The package in the fight against the consequences of the corona crisis should push the economy strongly. It will increase gross domestic product by about 4.4 percent, said Nishimura on Friday.

The government had raised the stimulus package to a record $ 1.1 trillion. This is intended to expand cash payments to citizens, for example. The coronavirus pandemic threatens to plunge the world’s third largest economy after the United States and China into recession.

Disappointing test results weigh on markets

The courses also fell in China. A report on disappointing test results for the US company’s Remdesivir drug depressed sentiment Gilead in a study in China to treat Covid-19. Gilead said that the study was terminated prematurely due to a lack of participants and was therefore not statistically meaningful.

The fact that reports of corona drugs triggered such strong market movements is an indication of how much investors are looking for signs when the crisis is over, said Tim Ghriskey, chief strategist at Inverness Counsel. “Any bad news should shake the market.”

The country’s Chinese central bank has meanwhile cut another of its key interest rates. The interest rate for medium-term loans will be reduced to 2.95 from 3.15 percent, she said in Beijing on Friday.

Commercial bank loans mature after one year, but can be extended to another two years. The central bank had recently turned the interest rate screw several times to boost the Chinese economy with cheaper money. This contracted by 6.8 percent in the first quarter due to the Corona crisis. This was the first minus since the beginning of the quarterly statistics in 1992.

The pandemic is causing the global economy to collapse. Business activity in the USA fell to a record low in April, and things look bleak in Asia and Europe as well.

In Germany, the Ifo index will be presented in the morning, experts are also expecting a slump here. To keep the US economy alive, the US House of Representatives gave the go-ahead on Thursday for another $ 484 billion aid program. US President Donald Trump said it was possible that the distance rules would have to be extended until the summer.

More: Read all current developments regarding the corona pandemic here.

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Asian exchanges start to lose

Tokyo The Asian equity markets started on Friday with losses. This is due to doubts about progress in the development of medicines to treat Covid-19, traders said. It had previously become known that the antiviral drug Remedesivier from the US manufacturer Gilead had not helped seriously ill patients in a first clinical study.

Investors were looking for something that could end the pandemic, said Tim Ghriskey, chief investment strategist at New York’s Inverness Counsel. “Any bad news is likely to mess up the market,” he said. “Investors want an appearance of hope that they will soon be able to get out of their homes and continue with some kind of normal life.”

The Tokyo stock exchange was initially weaker on Friday. The Nikkei index, which comprises 225 values, was 0.9 percent lower at 19,262 points. The broader Topix index fell by 0.6 percent and stood at 1417 points.

The Shanghai stock exchange was down 0.7 percent. The index of the most important companies in Shanghai and Shenzhen lost 0.6 percent. The MSCI index for Asian stocks outside of Japan rose 0.4 percent.

In Asian currency trading, the dollar gained 0.1 percent to 107.66 yen and rose 0.2 percent to 7.0803 yuan. The Swiss currency was 0.1 percent higher at 0.9765 francs. At the same time, the euro remained almost unchanged at $ 1.0773 and rose 0.1 percent to CHF 1.0522. The pound sterling gained 0.1 percent to $ 1.2354.

Economy Minister: Economic pact pushes Japan’s economy by 4.4 percent

In Japan, the Minister for Economic Affairs is optimistic about the new stimulus package. The package of the Japanese government in the fight against the consequences of the corona crisis is to push the economy strongly. It will increase gross domestic product by around 4.4 percent, said Yasutoshi Nishimura on Friday.

The government had raised the stimulus package to a record $ 1.1 trillion. This is intended to expand cash payments to citizens, for example. The coronavirus pandemic threatens to plunge the world’s third largest economy after the United States and China into recession.

In China, the country’s central bank cut another of its key interest rates. The interest rate for medium-term loans will fall to 2.95 from 3.15 percent, as announced on Friday in Beijing.

Commercial bank loans mature after one year, but can be extended to another two years. The central bank had recently turned the interest rate screw several times to boost the Chinese economy with cheaper money. This contracted by 6.8 percent in the first quarter due to the Corona crisis. This was the first minus since the beginning of the quarterly statistics in 1992.

More: Read all current developments regarding the corona pandemic here.

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US stock exchanges hardly change – Gilead Sciences weighed down

Dusseldorf The US stock exchanges closed little changed on Thursday. Relief from US economic data initially supported Wall Street. A media report on disappointing test results with the remdesivir agent for the possible treatment of Covid-19 then depressed the mood in late trade.

The standard value index Dow Jones closed 0.2 percent higher at 23,515 points. The technology-heavy Nasdaq stagnated at 8494 points. The broad S&P 500 lost 0.1 percent to 2797 points.

Last week, 4.4 million Americans applied for US unemployment benefits. In the previous week, however, the number of initial applications had been around a million higher.

The markets rated this as positive, even if a recession could not be averted, said Steven Blitz, chief economist for the USA at the research house TS Lombard. Investors appear to be betting that the economy will recover quickly if the restrictions to curb the coronavirus pandemic are relaxed.

However, Peter Cardillo, chief economist at Spartan, advised against excessive expectations. “The worst of the pandemic is probably behind us,” said Peter Cardillo, chief economist at Spartan. “But with the oil price at the current level, there is a threat of a wave of layoffs in the US energy sector, which will nullify the effects of a restarting economy.”

The US crude oil grade WTI rose 23 percent to $ 16.95 a barrel (159 liters) after its price fell below zero for the first time at the beginning of the week. At the beginning of March – before the outbreak of the virus crisis in the USA and before the price war between Saudi Arabia and Russia – WTI had still cost twice as much.

This drop in price is a problem especially for shale oil producers. According to experts, because of the complex fracking process, they only work profitably at a price of around $ 50.

Focus on individual values

Nevertheless, investors also accessed these values. The shares of companies like marathon, Occidental or Apache won up to eleven percent. The papers of the oil multinationals Exxon and Chevron each advanced about three percent. The paper from the company active in health care was also among the top values UnitedHealth with plus 3.0 percent.

The titles of Las Vegas Sands, which rose by around twelve percent. The casino operator expects the important Asian business to recover quickly as soon as the travel restrictions there are lifted. Competitors’ shares Wynn and MGM won up to 8.6 percent.

Eli Lilly shares jumped to a record high at $ 162.56. With a smaller plus of 2.1 percent to $ 159.93, they finally went out of the day. Investors recognized the 40 percent year-over-year increase in sales of the blockbuster drug Trulicity for diabetes to a quarterly record of $ 1.2 billion.

By contrast, the shares of Target, even though the retailer’s online sales almost quadrupled in the past quarter, making up for lost business from closed stores. However, the company warned of shrinking profit margins due to wage increases for employees. Target shares lost 2.8 percent.

The titles of Crocs even slipped by more than 16 percent. Known for its rubber slippers, the shoe manufacturer fell short of market expectations with quarterly sales of $ 281.2 million and earnings of $ 0.16 per share. The company also warned of further losses in the current quarter due to virus restrictions.

Among the losers Gilead Sciences with a discount of 4.3 percent. The company denied a media report of disappointing test results with the remdesivir agent for the possible treatment of Covid-19.

The study in China was terminated prematurely due to a lack of participants and was therefore not statistically meaningful, the US pharmaceutical company explained. The Financial Times has presented the process inappropriately, the World Health Organization accidentally posted a draft clinical trial on the Internet. The UN organization confirmed the breakdown and said the document had been removed after the error became known.

Quarterly reports were also in view.

Air Products & Chemicals Withdrawn the 2019/20 financial year forecast for earnings per share from the figures. The industrial gases manufacturer’s paper then gave way by 1.5 percent.

The chip manufacturer’s quarterly report, which was announced after the market closed, was also eagerly awaited Intel, whose shares in the Dow lost 1.8 percent. Intel ultimately disappointed with its earnings outlook for the second quarter, whereupon the papers gave in even more after-hours.

The share certificates of Snap down. The makers of the photo app Snapchat want to get $ 750 million (695 million euros) of fresh money on the market in the face of the corona crisis via convertible bonds.

In the US bond market, trend-setting ten-year government bonds rose 5/32 points to 108 16/32 points and returned 0.603 percent. The euro exchange rate went up and down in US trade and ultimately slid below the $ 1.08 mark again. At the close on Wall Street, the common currency was $ 1.0771. The European Central Bank set the reference price at $ 1.0772 (Wednesday: 1.0867). The dollar thus cost 0.9283 (0.9202) euros.

More: Read here what moves the German stock market on Thursday.

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Wall Street gets off to a good start – US unemployment figures have dropped

Wall Street

The New York Stock Exchange is located on the famous street.

(Photo: AP)

Dusseldorf The declining number of first-time jobless claims in the US seems to be giving investors hope that the economy will quickly recover from the corona shock. The Dow Jones started the trading day with a profit increase of around one percent at 23,543 points. The situation was similar at the start of trading for the S&P 500 (2810 points) and the Nasdaq (8529 points).

The prospect of further stimulus from the US government had prompted investors to buy stocks again on Wednesday. The standard value index Dow Jones closed two percent higher at 23,475 points. The technology-heavy Nasdaq advanced 2.8 percent to 8495 points. The broad S&P 500 gained 2.3 percent to 2799 points.

As announced on Thursday, the number of first-time job applications in the US has decreased compared to the previous week: by April 18, 4.4 million Americans had registered unemployment. Previously, 5.2 million people applied for new support. In the meantime, 26 million people have lost their jobs within a month.

However, it is certain that the corona pandemic thus slowed the positive development of the US labor market: In February, the USA celebrated the lowest unemployment rate in decades, and until March, initial applications were regularly below 100,000 a week. Some analysts estimate the US unemployment rate as high as 15 percent.

Look at the individual values

Of the Casino operator Las Vegas Sands expects the important Asian business to recover quickly as soon as the travel restrictions there are lifted. Las Vegas Sands shares then rose 13 percent, while competitors Wynn and MGM gained up to 12 percent.

Things looked worse with the papers from Target out. Although the retailer’s online sales almost quadrupled in the past quarter, thereby compensating for the losses due to closed stores, the share came under pressure: the company warned of shrinking profit margins due to wage increases for employees. The Target shares lost 5.9 percent.

With agency material.

More: Read here what moves the German stock market on Thursday.

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