Canaccord Genuity downgrades Boohoo to sell (hold), target price £0.19 – BN
Investment bank Canaccord Genuity downgrades its recommendation for Boohoo to sell, but maintains its target price of £0.19.
Canaccord Genuity downgrades Boohoo to sell (hold), target price £0.19 – BN
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Purchasing managers’ index for the service industry in Sweden lower than expected in September (update 2)
The Swedish purchasing managers’ index for the service industry fell to 46.3 in September, lower than expected. Order intake and order backlogs are at their lowest level in seven months, which could affect the labor market more than before.
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Simplicity High Yield rose 0.59 percent in September – benefited from Fiskars’ acquisition of Georg Jensen
September was a gloomy month for the markets with falling stock prices and rising credit spreads. The managers comment that the uncertainty surrounding the global economy and interest rates is still great. Forecasts show that the recession will deepen and that the Swedish economy will not turn around until the end of next year. The ECB raised interest rates by 25 basis points, but indicated it could be the last hike. The Fed left the key interest rate unchanged, but signaled more rate hikes. The Riksbank raised the interest rate by 25 points and expects further increases. Activity in the primary market was high, but investors are cautious. The fund’s largest holdings were Swedbank, Castellum and VEF.
The DAX term retreats 0.5 percent ahead of the opening
Ahead of the European open, futures look set to back down, with the Euro Stoxx 50, FTSE 100, DAX and S&P 500 all showing declines.
Down on the stock markets in Asia, the Nikkei 225 index fell 2.3 percent
Stock markets in Asia are falling due to rising market interest rates and the decline on Wall Street, while mainland Chinese stock markets are closed. The Bank of New Zealand left the key interest rate unchanged.
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