The upward trend prevailed on global stock indices during trading yesterday, and sentiment improved with the developments of the “Evergrande” crisis and the troubled Chinese giant’s payment of $83.5 million ahead of its due date, and European and Japanese stocks rose, and the US Standard & Poor’s index soared to a new historical peak.
The performance of US stocks varied in early trading yesterday, with the Standard & Poor’s 500 index marginally rising to an all-time high, coinciding with the release of corporate results.
Snapchat’s stock fell by about 21%, after it announced revenue of $1.07 billion in the third quarter, which is below analysts’ expectations of $1.10 billion.
Meanwhile, Tesla’s stock continued to record record levels, as it rose 0.9% to $ 902.36, after the company announced earlier this week that it recorded record profits and revenues in the third quarter.
The Dow Jones Industrial Average rose 0.1%, or 39 points, at 35,642 during trading, while the broader “S&P 500” rose 0.1%, or 4 points, to 4,555 points, while “Nasdaq” fell 0.3%, or about 39 points, at 15177. Point.
Snap Inc’s stock led the way in losses among social media companies after it was reported that digital advertising was hurt by Apple’s privacy changes.
European stocks rose with positive developments in the “Evergrand” crisis, and before the release of economic data.
And “Bloomberg” agency confirmed that the Chinese real estate developer “Evergrand” was able to pay bond payments worth 83.5 million dollars, and that bond holders will receive the money before its due date today, while Renault’s stock fell 0.5% after it lowered its expectations for production this year by by 500 thousand.
In terms of trading, the “Stoxx Europe 600” index rose by 0.1% to 470 points during trading, while the French “CAC” rose 1.1% to record 6,762 points.
The German “DAX” rose 0.2% to 15,497 points, while the British “FTSE” rose less than 0.1% to 7,196 points.
Japan’s benchmark Nikkei index rose at the close after debt-laden Chinese real estate developer Evergrande made bond payments, but gains were limited by uncertainty about US interest rate hikes and anticipation ahead of Japan’s general elections and corporate earnings season.
The Nikkei rose 0.34% to close at 28,804.85 points, after increasing by 0.98% earlier in the session thanks to news that Evergrande had made interest payments on bonds, and the Nikkei fell 0.9% during the week.
The broader Topix index rose 0.7% to 2002.23 points.
Technology shares led the gains, with chip maker Tokyo Electron up 4.4%, Advantest adding 1.22% and Disco rising 2.99% after the company posted a 71% jump in operating profit during the first half of the year.
But Shuichi Arissawa, general manager of investment research at Iwai Cosmo Securities, said the market was affected by volatility outside Japan, with Evergrande still facing debt repayment, while oil prices remained high, as well as an increase in US bond yields in the evening.
The Japan Post Holding Company’s stock fell 1.63%, ahead of the government’s sale of its shares, which could withdraw about $8 billion in liquidity from the market.
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