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After Europe, Wall Street was also dominated by buyers

America didn’t stop at the closing either

At the end of the day, the Dow Jones index closed 1 percent higher, the S&P-500 rose by 1.3%, and the Nasdaq rose by 1.6%.

evolution of the baha us 500 exchange rate

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America is also climbing higher and higher

The Dow Jones index is already up 0.9%, the S&P-500 gained 1.2% and the Nasdaq gained 1.5% compared to Monday’s closing value.

evolution of the baha us 30 exchange rate

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America is also a plus, but the atmosphere is not so explosive

In the case of the leading American stock market indices, the mood is not as optimistic as in Western Europe. The Dow Jones is up 0.4% at half-time, the S&P-500 is up 0.8% and the Nasdaq is up 1.1%.

evolution of the baha us tech 100 exchange rate

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The rise in Europe continues

We are approaching the European market close and the momentum from the beginning of the day remains unbroken. Compared to this, the increase in the USA became a little more restrained, the initial minuses at the index level of around 1 percent decreased to 0.6-0.7 percent compared to the opening.

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Strong opening in America

As in Europe, the American indexes also started the day with a significant gain, the Dow went up by 1 percent, while the S&P 500 rose by 1.1 percent, and the Nasdaq is up by 1 percent. Part of the upbeat sentiment can be attributed to the fact that the Credit Suisse bailout eased concerns about a larger banking crisis. Meanwhile, investors are already awaiting the results of the Federal Reserve’s monetary policy meeting (due tomorrow), where the market is now largely pricing in a 25 basis point rate hike, compared to the 50 basis points expected before the collapse of SVB and Signature Bank.


The rise continues, BUX in the European malaise

Turning to the afternoon, the mood on the stock exchanges is still good, the leading European indices show a significant increase in today’s trading.

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With its 2 percent rise, BUX is at the forefront of Europe, which is mainly due to the rise of OTP, although bank shares are bought practically all over Europe. OTP’s significant index weight, on the other hand, is significantly reflected in the performance of BUX.

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The stock markets are rallying

We are seeing a big rally this morning on the European stock markets, after the fall experienced in recent weeks, buyers have arrived today. Bank shares are primarily driving the rise following the measures aimed at stabilizing the sector.

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A significant rally took place on the bank securities market this morning.

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4iG rises after yesterday’s announcement

The price of 4iG shows a slight increase after the fate of the company’s Yettel share was finally decided yesterday, as according to Monday’s announcement, Antenna Hungária Zrt. and Corvinus International Investment Zrt., representing the Hungarian state, concluded a share exchange. In accordance with the contract, Antenna Hungária exchanged its 25 percent shareholding in PPF Telecom Group’s Hungarian subsidiaries for 19.5 percent of the Vodafone shares owned by Corvinus Zrt. With the transaction, Antenna Hungária increased its stake in Vodafone Hungary to 70.5 percent.

After the announcement, 4iG is up 0.3 percent today.

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The rise continues

European stock markets started the day strongly, which means that the rise in the markets continues: the DAX went up by 0.9 percent, while the CAC rose by 1.1 percent, and the FTSE 100 is up by 0.7 percent. The Milan stock market also rose by 1.3 percent, while the Spanish stock market rose by 1.1 percent.


The rise may continue

What are the current events on the stock exchanges?

  • The leading American stock indices closed yesterday with an increase, the Dow Jones rose 1.2 percent, the S&P 500 ended the day up 1.9 percent, while the Nasdaq ended the day up 0.3 percent.
  • The Asian stock markets are showing a bullish mood this morning, the Nikkei fell by 0.27 percent, the Hang Seng rose by 1.08 percent, while the CSI 300 is up by 0.9 percent.
  • The European stock markets can open in a good mood, based on the future stock indices, the DAX may rise by 0.9 percent, the CAC may rise by 0.57 percent, while the FTSE may open with a gain of 0.36 percent.
  • The American futures stock indexes are forecasting a rise at the market opening, the Dow Jones may rise by 0.06 percent, the S&P 500 may open with a gain of 0.13 percent, while the Nasdaq may rise by 0.1 percent.

What can be expected on the macro front?

Today we will pay attention to the usual three-month dkj auction at home, in recent weeks there have been several unsuccessful sales of treasury bills, and the demand at the last auctions already indicated that the market is starting to recover. In Germany, the latest data from the ZEW economic sentiment index is published.

March 20-26, 2023 macro calendar
Hungarian macroeconomics
March21Tuesday11:30 a.mAKK3-month dkj auction
March23Thursday11:00 a.mPMDetailed acht accountFeb.
March23Thursday11:30 a.mAKKBond auction
March24Friday8:30 a.mKSHEmployment, unemploymentFeb.
International macroeconomics
March20Monday2:15 a.mChinaInterest rate decision
March20Monday8:00 a.mGerman.Producer pricesFeb.
March20Monday11:00 a.mEUForeign tradeJan.
March21Tuesday11:00 a.mGerman.ZEW indexMar.
March22Wednesday8:00 a.mUKInflationFeb.
March22Wednesday19:00USAFed rate decision
March22Wednesday7:30 p.mUSAJerome Powell’s press conference
March23ThursdayEUEU summit
March23Thursday13:00UKBank of England interest rate decision
March24FridayEUEU summit
March24Friday8:00 a.mUKRetail tradeFeb.
March24Friday9:15 a.mFrench.Advance Purchasing Manager IndexMar.
March24Friday9:30 a.mGerman.Advance Purchasing Manager IndexMar.
March24Friday10:00 a.mEUAdvance Purchasing Manager IndexMar.
March24Friday1:30 p.mUSAOrdering consumer durablesFeb.
March24Friday2:45 p.mUSAAdvance Purchasing Manager IndexMar.
Source: Portfolio collection

What has happened on the stock markets so far?

  • Among the leading American, Asian, European and regional stock indexes this year, the Nasdaq index is at the top with a 14.8 percent shift, the BUX index is the driving force with a 5.6 percent fall.
  • Magyar Telekom’s share performed the best among domestic blue chips this year with a 12.7 percent increase, and Richter’s paper is at the bottom of the list with a 10.2 percent fall.
  • Among the most important raw materials, the price of gold has risen by 9.0 percent since the beginning of the year.
More important instruments
Exchange rateOne day1 week1 monthThis year1 year5 years
US stock indices
Dow Jones32,244.581.2%1.3%-4.7%-2.7%-7.2%30.4%
S&P 5003,951.570.9%2.5%-3.1%2.9%-11.5%45.4%
Asian stock indices
Hang Seng19,000.71-2.7%-3.5%-9.0%-3.9%-11.3%-39.8%
CSI 3003,939.08-0.5%-1.7%-4.7%1.7%-7.7%-3.4%
European stock indices
FTSE MIB25,899.571.6%-1.1%-6.2%9.2%6.9%13.6%
Regional stock indices
ATX3 140.90.5%-5.0%-10.0%0.5%-6.6%-9.8%
Hungarian blue chips
Magyar Telekom382-0.8%-1.5%1.6%12.7%-5.7%-14.3%
Raw materials
Foreign currencies
Government papers
10-year US Treasury yield3.481.6%-1.8%-9.8%-9.1%62.2%20.9%
10-year German government bond yield2.11-1.0%-7.0%-12.9%-17.6%543.6%264.6%
10-year Hungarian government bond yield8.820.2%2.4%-0.1%-4.6%49.2%231.6%
Source: Refinitiv, Portfolio

Cover image source: derek berwin