US equities finished with no dramatic changes on Wednesday, with Dow Jones rising 0.03% to 33,743, S&P fluctuating -0.02% to 4,016 and the Nasdaq declining 0.27% to 11,313. Microsoft’s results renewed investors fears on tough year for business, as company declared revenue growth at the slowest rate in six years, while Tesla slightly beat estimates on 4Q revenue and profit, with CEO Elon Musk initiated price wars to maintain demand during potential recession. Treasury yields were a bit lower, as the yield on the 2-year, 10-year and 30-years notes declined 1-2 bps range. The Dollar ticked higher with DXY up 0.2% this morning to 101.844. Major focus today is on Advance GDP data update.
Russian forces have gained a foothold on the outskirts of Ugledar and continue fighting Ukraine’s armed forces there, Advisor to the acting head of the Donetsk People’s Republic (DPR) Igor Kimakovsky told on Thursday. Meanwhile, Gazprom supplies gas for Europe through Ukraine in the volume of 24.2 mln cubic meters per day via the Sudzha gas station. Consequently, transit through Ukraine continues at a lower level, having lost more than 44% since the beginning of January. The Russian stock market opens with the growth of leading stock indices on Thursday. The IMOEX index slightly slowed down growth to 0.3% and reached 2,176.75 points, while the RTS index started to decline by 0.09% to 986.16 points. The dollar grew by 0.35% to 69.55 roubles, the euro – by 0.47% to 75.75 roubles.
European markets, after closing lower yesterday, level out today as investors focusing on upcoming economic data later this week in the US and EU zone. On the stock markets, the DAX index in Germany traded 0.26% higher this morning at 15,120 level, the FTSE 100 in the U.K. gained 0.15% to 7,756 points, while the CAC 40 in France is up 0.66% at 7,090 level. 10Y GILT and 10Y Deutsche Bundus yields got higher by 4bps and 2bps, correspondingly.
SSA opens stronger following a choppy session on Wednesday. NIGERIA (-1.00) witnessed sell pressures perhaps on the back of the forthcoming general elections. GHANA (+0.125) has witnessed some interest following the government’s optimism of an IMF board approval of its $3 billion extended credit facility request by March 2023. NIGERIA (+0.25) however opens on a firmer tone.