Next week major centralbanks are having their monetary meetings. The week will start with the US Federal Reserve FOMC meeting on June 13-14 followed by the European Central Bank on June 15th and the Bank of Japan 15-16th June.
The Bank of England is having its monetary meeting on June 22nd.
The markets are widely expecting that the Fed will pause the rate hike this time.
The US investment bank JP Morgan has bought most of the assets of the Californian First Republic’s bank on Monday morning.
The deal was announced by the Federal Deposit Insurance Corporation and the deposits of the Californian bank were 93,5 billion dollars.
The Federal Reserve, Fed has said earlier that it will tighten the banking supervision after the regional banking failures.
Stocks declined in Wall Street on Monday trading as investors were expecting more info about the interest rates hikes this year. The Federal Reserve is having its annual Jackson Hole economic conference on Friday with Chairman Jerome Powell is one of the speakers.
Dow Jones index closed down 1,91% to 33.065 points and larger S&P 500 index closed down 2,14% to 4137 points. Tech heavy Nasdaq index closed down 2,55% to 12.381 points.
Tech sector declined broadly as Apple closed down 2,30%, Alphabet down 2,53%, Microsoft down 2,44%, Amazon down 3,62%, Meta down 2,92% and Tesla down 2,28%.
Markets are expected to be volatile during the week. Financial Times reported that the UK inflation is expected to increase to 18% in January. This is an estimate from Citybank.
Euro was trading below parity at 0,994 dollars and Brent oil was up 0,61% to 97,07 dollars per barrel.
New York stocks were having selloff due to the raising inflation and rates on Wednesday. All the major indexes were in red: Dow Jones closed down 3,57% to 31 490 points, S&P 500 index closed down 4,04% to 3923 points and tech-heavy Nasdaq closed down 4,73% to 11.418 points.
Apple closed down 5,64% to 140 dollars, Tesla down 6,80% to 709,81 dollars, Uber down 7,07% to 22,46 dollars and Microsoft down 4,55% to 254 dollars.
In pharma side Pfizer closed down 1,83% to 50,49 dollars and Moderna down 3,21% to 137 dollars.
The world largest luxury company LVMH closed down 1,97% to 578 euros in Paris.
The Fed Chairman Jerome Powell said yesterday that the Central Bank keep raising rates until the inflation is mitigated.
The UK inflation shocked yesterday and was 9% in April. The London FTSE 100 index closed down 1,07% to 7438 points on Wednesday.
US stocks rallied after the Federal Reserve raised the rates half a percentage points to mitigate the inflation.
Dow Jones closed up 2,8% to 34.061 points and S&P 500 index gained 2,99% to 4300 and tech-heavy Nasdaq closed up 3,19% to 12.964 points on Wednesday.
The markets were reliefed that the raise was 50 basis points, not 75 as some market analysts estimated. The Fed pointed also that more rate increases might be during the year.
European stocks closed down on Wednesday. The FED’s minutes of March meeting showed the Central Bank is planning to shrink its balance sheet by 95 billion dollars per month. Maybe starting in May.
The possible rate hike in the Fed’s May meeting is gaining momentum. The European Central Bank, ECB is having its Governing Council on the14th April.
In London, the FTSE 100 index closed down 0,34% to 7587,70 points. The UK Goverment is expected to announced its new energy strategy related to renewables and the ending of fossil fuels use.
The fashion company Ted Baker rose 2,32% to 150 pounds in London after speculation of different takeovers.
In France, the CAC 40 index closed down 2,21% 6498,83 points. The first round of French Presidential election will take place on Sunday and the lead of Emmanuel Macron has come down compared to far-righr Marine Le Pen.
The leading luxury company LVMH closed down 3,41% to 636 euros and Kering down 4,70% to 557 euros in Paris. Swiss Richemont closed down 5,72% to 115 Swiss francs.
In Germany the Frankfurt Dax index closed down 1,89% to 14.151,69 points.
The new Covid variant XE was found in the UK. The European Medicines Agency said on Wednesday that it is too early to consider the 4th Covid-vaccine for all adults.
In the commodity side, the Brent crude oil was trading at 106 dollars per barrel and LME nickel at 33.635 dollars.
Stocks were trading up in Asia today. Topix was up 1,53% to 27.242 points in Japan and Hang Seng up 1,04% to 21 441 points in Hong Kong.
Yesterday Wall Street ended down as the Federal Reserve Chairman Jerome Powell pointed that inflation is too high and he is prepared to raise rates by 0,50% in the next meeting in May.
Dow Jones ended down 0,58% to 34.552,99 points, S&P 500 index ended down 0,04% to 4461,18 points and Nasdaq index down 0,40% to 13.838,46 points.
The SEC also announced new Climate Change reporting guidelines for companies. It starts with Scope 1 and 2 carbon emissions and extends to Scope 3. It includes also risk analyses of the overall Climate Change impact on the company business and strategies.
Brent crude oli was still up and trading at 118,49 dollars per barrel, up 2,48%.
Luxury stocks were mixed while LVMH closed down 1,28% to 632 euros and Kering down 1,46% to 595 euros. Burberry closed up 0,33% to 1706 pounds and Ralph Lauren down 2,42% to 118 dollars.
Luxury sector is having exports limits to Russian markets due to the Ukraine invasion.
Euro was trading at 1,10 dollars, down 0,12%.
EARTHRATE ESG WHITE PAPER ON CORONAVIRUS, COVID-19, update 18.3.2022
Corrected: the weekly ICU admissions due to data errors .The information contained in this report is for general information purposes only. The information is provided by EarthRate2022 and/or its business partners.
The report represents views gathered from an independent panel, they are not views expressed by the EarthRate. Any reliance you place on the information expressed in the report is strictly at your own risk and in no event will be liable for any loss or damage arising out of it.
We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the report or the information, products, services, or related graphics contained on the report or in this release for any purpose.
Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage arising out of, or in connection with, the use of this report or data on or linked to it.
Author: M.Sc (Econ) Päivi Härkönen
Date: 18.3.2022
1. Update the Coronavirus, Covid19
There are over 469 million Covid-cases (469.822.676) and over 6 million deaths (6.075.249) globally (19.3.2022) according to Johns Hopkins University. In the US, the cumulative death toll is now over 970.000 people, in India over 510.000 and in Brazil over 650.000. In Russia the death toll is over 350.000.
According to Johns Hopkins University, the country examples 17.4.2020 vs 19.3.2022 (cumulative)
In Europe (France, UK, Spain, Italy and Germany) confirmed new covid-cases during week’s period (based on the data from EarthRate and Johns Hopkins University), increased considerably to 3,34 million new cases, (2,61million week ago) during that period (12.3.2022-19.3.2022).
Many European countries have reported of the new subvariant B.A.2, which has found to be 1,5 times more transmissible than the Omicron. At the same time, it is estimated that the vaccinations give good protection against this new subvariant regarding the seviere hospitalization and deaths.
Moderna and Pfizer/Biontech have applied for the US FDA for the fourth Covid-vaccine as an Energency Use Authorization, EUA. The current scenario is that the fourth vaccinations would start in the autumn with risk groups and elderly.
The new viruscases increased in the UK, Germany, France and Italy. The situation stayed the same or slightly down in Spain.
The Ukraine crisis:
The real Covid-situation in Ukraine is not updated, but earlier it was cases 5.040.518 and deaths 112.459. Over 3 million people have left the country because of the invasion of which two million to Poland.
In the neighbouring countries the situation was as follows:
Poland, cases 5.891.140 (5.811.109) and deaths 114.218(113.434), vaccinations 58,77%
Slovakia, cases 2.344.057 (2.269.610) and deaths 19.093 (18.881), vaccinations 50,61%
Hungary, cases 1.824.089 (1.814.362) and deaths 44.961 (44.653), vaccinations 63,27%
The leading countries in vaccine booster doses in Europe are Iceland, Malta, Italy Denmark, Germany, France and Portugal. (19.3.2022, Our world in data).
It is good to notice that the ranking includes countries with different update days in the figures and that is also why the weekly status can change considerably.
UK, new cases during the period, 570.593 (416.512 week ago), fully vaccinated 73,72 %
France, new cases 676.682 (373.694 week ago), fully vaccinated 78,19%
Spain, new cases 100.663 (123.546 week ago), fully vaccinated 84,92%
Italy, new cases 472.000 (332.956 week ago) , fully vaccinated 79,20 %
Germany, new cases 1.519.317 (1.368.253 week ago), fully vaccinated 75,82%
 | March 19th 2022 | March 12th 2022 | March 5th 2022 | February 26th 2022 | February 19th 2022 | February 12th 2022 | February 5th 2022 | January 29th 2022 | January 22nd 2022 | January 15th 2022 | January 8th 2022 | January 1st 2022 | December 25th 2021 | December 18th 2021 | December 11th 2021 | December 4th 2021 | November 27th 2021 | November 20th 2021 | November 13th 2021 | November 7th 2021 | October 31st 2021 | October 24th 2021 | October 16th 2021 | October 9th 2021 | October 2nd 2021 | September 24th 2021 | September 19th 2021 | September 11th 2021 | September 5th 2021 | August 28th 2021 | August 21st 2021 | August 14th 2021 | August 6th 2021 | July 30th 2021 | July 23rd 2021 | June 18th 2021** | June 11th 2021* | May 8th 2021 | May 1st 2021 | April 24th 2021 | April 17th 2021 | April 9th 2021 | April 4th 2021 |
| France | 676.682 | 373.694 | 372.023 | 432.991 | 621.384 | 1.033.569 | 2.135.456 | 2.090.067 | 2.500.732 | 2.083.460 | 1.625.016 | 1.104.066 | 511.176 | 362.672 | 391.634 | 273.201 | 156.248 | 135.105 | 43.281 | 50.999 | 41.553 | 46.001 | 28.964 | 40.855 | 35.845 | 31.434 | 70.941 | 51.659 | 143.162 | 77.881 | 228.990 | 146.118 | 158.454 | 151.221 | 98.072 | 19.161 | 117.652 | 130.586 | 143.179 | 632.701 | 419.221 | 99.410 | 233.381 |
| UK | 570.593 | 416.512 | 318.289 | 228.171 | 318.238 | 521.758 | 1.423.016 | 555.458 | 645.726 | 824.112 | 1.247.539 | 1.215.600 | 615.334 | 510.561 | 353.078 | 314.176 | 308.121 | 323.114 | 187.583 | 246.519 | 285.707 | 413.752 | 242.052 | 280.364 | 241.257 | 172.523 | 262.579 | 191.672 | 312.840 | 174.137 | 252.889 | 228.145 | 184.886 | 194.805 | 255.410 | 385.155 | 190.488 | 14.509 | 13.512 | 17.554 | 30.851 | 1.068 | 28.327 |
| Spain | 100.663 | 123.546 | 120.904 | 168.302 | 205.022 | 404.484 | 420.586 | 803.672 | 882.422 | 928.130 | 870.161 | 576.738 | 262.480 | 165.337 | 87.232 | 71.946 | 50.349 | 33.507 | 21.517 | 14.491 | 13.416 | 13.346 | 11.367 | 12.491 | 14.527 | 17.055 | 22.085 | 29.706 | 45.946 | 61.356 | 76.913 | 105.408 | 141.088 | 166.615 | 180.207 | 33.842 | 208.523 | 43.331 | 55.460 | 61.334 | 70.646 | 35.672 | 45.641 |
| Italy | 472.000 | 332 956 | 257.543 | 304.907 | 374.443 | 510.537 | 858.845 | 902.757 | 1.231.741 | 1.268.153 | 1.014.358 | 644.508 | 257.579 | 158.547 | 112.233 | 99.181 | 78.910 | 72.024 | 35.910 | 36.082 | 300.780 | 28.703 | 14.444 | 22.280 | 39.647 | 17.585 | 39.553 | 25.118 | 54.006 | 32.821 | 49.605 | 51.221 | 40.268 | 35.984 | 23.203 | 9155 | 219.107 | 70.094 | 73.136 | 92.074 | 120.917 | 86.279 | 137.794 |
| Germany | 1.519.347 | 1.368.253 | 1.097.390 | 1.127.277 | 1.213.982 | 1.326.317 | 1.403.491 | 944.853 | 728.594 | 456.306 | 335.750 | 196.678 | 186.189 | 284.393 | 350.902 | 397.178 | 406.368 | 371.716 | 210.267 | 184.505 | 131.880 | 109.245 | 54.305 | 63.467 | 56.455 | 42.774 | 78.189 | 57.835 | 88.618 | 49.149 | 51.463 | 31.730 | 47.897 | 14.669 | 9038 | 5566 | 312.214 | 106.941 | 119.528 | 136.813 | 174.067 | 87.580 | 122.137 |
2. Updates in the vaccine development
Global Vaccinations situation:
According to Our World in Data, over 10,99 billion doses have been given by March 20th 2022.
According to Our World in Data, 64 % of the world population has now received at least one dose vaccination. (20.3.2022).
WHO reminds that there will be several virus variants circulating while the Covid-vaccinations in low income countries are still at low levels. Only 14,4% of the people in low income countries have received their first dose of vaccination.
The number of intensive care patients in Europe differs huge in different countries. According to Our World in Data, the new weekly Covid-admissions to intensive care were as follows in March 18th 2022:
Germany 11.461, France 7392, Italy 4700, Spain 3267, Denmark 1696, Netherlands 1554, Belgium 1187. In the US 15.214 and in the UK 13.718.
The country update days also varies in this table.
News during the week:
China and Hong Kong are having new coronawave and new Covid regulations have been put in place. In Hong Kong the death figures are growing due to the low vaccination rate of the elderly people. The city officials have vaccinated the hospital and care homes people.
Moderna, the US biotech company said last week, it has applied for the fourth dose of its Covid-vaccine to the US FDA.
Pfizer also confirmed that it has applied for the US FDA for the fourth Covid-vaccine.
The UK said it has lifted all Covid-restrictions from travellers.
Calendar:
The German Biontech is to publish its full year and Q4 2021 figures in late March, 30th March.
3. Stocks and economies
The commodity prices have been record high due to supply chain problems and because of the Ukraine invasion. The Brent crude oil has come down from the peak levels and is trading now around 100 dollars per barrel.
The Fed started its tightening monetary policy last week and raised the federal funds rates. More rate hikes expected during this year because of the rising inflation.
The Russian military confirmed on Saturday it has used the air-launched ballistic missile in Ukraine for the first time. The Russians said the missile was used to strike the underground warehouse of missiles. This Kinzhal missile can be launched from MIG-31 fighters. Ukraine has not confirmed the news.
The peace negotiations continued during the week as world leaders engaged with the topic and issues. Western allies increased their military, humanitarian and medical support to Ukraine.
The London Metal Exchange had trading problems with nickel with trading halts during last week.
The Moscow Stock Exchange was closed the whole week.
Copyright notice and disclaimer
This content is copyright of EarthRate – © EarthRate, 2022. All rights reserved.
Any redistribution or reproduction of part or all of the contents in any form is prohibited, unless strictly for non-commercial and personal use. You may not, except with our express written permission, distribute or commercially exploit the content, nor transmit it or store it in any website or other form of electronic retrieval system.
The information contained is for general information purposes only. The information is provided by EarthRate and/or its business partners and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the report or the information, products, services, or related graphics contained on the report or in this release for any purpose.
Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage arising out of, or in connection with, the use of this report or data on or linked to it.
Global stocks showed united growth during last week. All major indexes ended up for the week. Nasdaq closed up 8,18% for the week, Dow Jones nearly 5,5% and S&P 500 over 6,16%.
In Europe, London closed up 3,48% for the week, Frankfurt Dax 5,76 % for the week and Paris CAC 40 up 5,75% for the week.
In Asia, stocks closed also up with 6,09% in Japan according to Topix and in Hong Kong 4,18% according to Hang Seng index.
During last week, the US Federal Reserve raised the federal funds rate for the first time since 2018. The rate hike was already priced in the markets on Wall Street and this explains also the positive market sentiment during the rest of the week.
The Bank of England followed the Fed on Thursday with the third hike in the Bank Rate to 0,75%. The Bank of England estimated that the inflation can be around 8% in April and “perhaps even higher later this year”.
The European Central Bank said earlier week that it is ending its asset purchases programm earlier than estimated. The rates the ECB kept unchanged.
The Ukraine crisis continued and the western allies increased their sanctions against Russia. The world leaders continued the global engagement in order to avoid the crisis escalation and establish peace negotiations. Military, humanitarisn and medical aid have been transported to Ukraine. Over 3 million people have fleed Ukraine after the invasion according to the UN.
The commodity prices are still high and there are signs that global food supply may be distrupted while Ukraine and Russia have informed their export limits for the commodities. The western allies increased their efforts to limit the Russian oil and gas deliveries.
Brent crude oil has come down from the over 130 dollars peak and is now trading around 100 dollars per barrel.
The former US Secretary of the Treasury Lawrence Summers said in the Bloomberg “Wall Street Week” programm that he expects the rates to go up to 4-5 % while the inflation may rise to a range of 8%. He was reflecting the news that the Fed is said to watch the current economic situation actively at each of its meeting this year.
Because of the continued Ukraine crisis and its impact on global supply chains, natural resources and production, economic growth outlooks have been revised down for this year.
For the global economies this crisis has increased the recession possibility. The global growth was first disrupted by the corona pandemic and now this Ukraine invasion.
During last week a new wave of corona has impacted the Chinese markets and Hong Kong. Also other Asian markets have reported increased cases. Globally there are over 6 million deaths in Covid.
The biotech and pharma companies Moderna, Pfizer/Biontech have applied for the US FDA regarding the fourth dose of Covid-vaccine.
The London Metal Exchange nickel trading did not start properly last week. The trading was halted many times. The Exchange also explained it will check the current steel contracts because of the sanctions.
On Friday major tech and pharma companies closed up on WallStreet: Moderna 178 dollars, up 6,34%, Biontech 174 dollars, up 5,73%, Meta 216 dollars, up 4,16%, Alphabet 2722 dollars, up 1,71%, Apple 163 dollars, up 2,09%, Microsoft 300 dollars, up 1,76%, Tesla 905 dollars, up 3,88%, Uber 33 dollars, up 1,55%, Lyft 38 dollars, up 2,20% and Pfizer 34 dollars, up 0,50%.
The US Central Bank has raised the rates today and also points more rate hikes to follow this year.
The raise was 0,25%, as expected in the markets. This was the first rate increase since 2018. The new federal funds target range is now 1/4 to 1/2 percent.
According to the Fed, the Committee expects the inflation to return to its 2 % objective and the labor markets to remain strong.
The invasion of the Ukraine by Russia is causing tremendous human and economic hardship, the Central Bank says.
– The implications for the US economy are highly uncertain but they are likely to create additional upward pressure of inflation and weigh on economic activity the Fed writes.
The US equity markets were trading slightly up as Dow Jones was trading up 0,58% to 33.737 points, S&P 500 index up 1,07% to 4308 points and tech-heavy Nasdaq up 2,06% to 13.215 points.
ComteamPUB+ 