News

India's NIFTY 50 index narrowed its losses, latest falling 1.4%.

[Deloitte: Analysis of the consequences of the Iran war shows Australia may be hit hard] Calculations and analyzes are currently underway on what impact the continuation of the Middle East conflict may have on Australia's fuel prices and economic growth. David Lembens, a partner at Deloitte Economics, said the worst-case scenario would hit Australia hard - with a prolonged conflict sending oil prices soaring to $175 a barrel and inflation reaching 7.5 per cent by the end of the year. The end result will be Australia's unemployment rate reaching 6.8% and GDP growth falling by 2.8%. Notably, none of the scenarios presented show the unemployment rate falling below 5.0%.

[Analyst: Oil prices may still be affected by news reports in the short term] Priyanka Sasheva, senior market analyst at Philip Nova, said in a research report that oil prices may still be affected by news events in the short term. The oil market has returned to focusing on geopolitical issues, with oil prices once again breaking through the psychologically important $100 per barrel mark. Previously, ceasefire talks failed to reach a lasting agreement, prompting the United States to announce maritime restrictions on ships entering and leaving Iranian ports. The market reaction highlights a simple but powerful fact: the risk in the Strait of Hormuz is not theoretical, it is structural, and it is real.

U.S. Democratic Senator Mark Kelly posted a post condemning Trump's public attack on the Pope, calling Trump's actions "abhorrent."

Slovak Prime Minister Fizo: It is still the government’s goal to work with Hungary to protect energy interests.

Slovak Prime Minister Fizo: He is willing to cooperate closely with the new Hungarian Prime Minister and congratulates him on the election results.

Royal Bank of Canada: Lowered its price target for General Motors (GM.N) to $96 from $107.

Royal Bank of Canada: Lowered Tesla (TSLA.O) price target to $480 from $500.

Block, the founder of Muddy Waters, said that artificial intelligence may trigger a stock market turmoil larger than the 2008 global financial crisis, creating new opportunities for investors who have been shorting U.S. stocks for years but have suffered dismal returns. This year’s violent sell-off in the software industry and other sectors seen as “losers in the AI ​​era” is a “harbinger of the coming AI disruption,” which will reignite short selling.

Five UK water companies spent £32.4 million on appeals to the competition watchdog, allowing them to further increase their customers' water bills.

Ukrainian President Volodymyr Zelensky congratulated Mazyor Petr on winning the Hungarian election and said Ukraine was ready to "develop cooperation" with Hungary.

Polish Prime Minister Tusk: South Korea is Poland's most important ally after the United States, especially in the field of defense.

Japan's 40-year government bond yield rose to 3.920%.

Jefferies: Raised its target price on Intel (INTC.O) to $60 from $45.

Japan's 30-year government bond yield rose to 3.675%.

India's SENSEX index continued its decline, falling 2.1% to 75900.02 points.

India's NIFTY 50 index futures fell 1.46% in pre-market trading.

At the close of early trading, the main domestic futures contracts were mixed. Polysilicon rose by more than 8%, SC crude oil rose by more than 4%, low-sulfur fuel oil (LU), lithium carbonate, and fuel oil rose by more than 3%, and liquefied petroleum gas (LPG) and European container lines rose by more than 2%. In terms of decline, butadiene rubber and caustic soda fell by more than 3%, No. 20 rubber and rubber fell by more than 2%, and apples, pigs, and Shanghai tin fell by more than 1%.

USD/HUF fell 1.8% to 314.18; EUR/HUF fell 2.1% to 367.14.

The Hungarian forint hit its highest level against the US dollar since February 23, 2022.