International Market Overview 25 October 2021

Sharing our Daily Market Overview with you, ensuring that you do not miss out on any important market changes!


International Market Update


  • European stocks closed higher on Friday as fears over China’s property market cooled while investors watched corporate earnings and key economic data. The pan-European Stoxx 600 provisionally closed 0.5% higher, with technology stocks leading the gains with a 1.5% gain, while oil and gas stocks slipped 0.5%. Friday was another key day for corporate earnings in Europe, with Renault, Renault, Banco Sabadell, the London Stock Exchange and InterContinental were among the companies reporting before the bell.



  • The Dow Jones Industrial Average hit a record high on Friday and major stock indexes rose for a third straight week, while the US dollar weakened. Stocks came under pressure after Federal Reserve Chairman Jerome Powell said the US central bank was “on track” to start reducing its securities purchases. Intel shares fell 11.7% and were one of the biggest drags on the S&P 500, while American Express advanced, boosting the Dow after the company beat earnings estimates for the fourth straight quarter.



  • Stocks in the Asia-Pacific region traded mixed this morning as investors await the release of HSBC’s quarterly results. The Hang Seng Index in Hong Kong was down 0.29%. Hong Kong-listed shares of HSBC, which is set to release its third-quarter results on Monday, slipped 0.4% in morning trade. Shares in troubled construction firm China Evergrande Group jumped about 4% after the company announced on Sunday that it had resumed work on more than 10 projects, according to Reuters.


In International news


Chip crisis hits Renault production harder than expected

French carmaker Renault said on Friday its 2021 production losses will be far greater than previously forecast due to a global shortage of semiconductor crisps, but maintained its profit outlook thanks to high vehicle prices and cost cuts. The French carmaker said production losses for the year would now be nearly 500,000 vehicles, more than double the 220,000 units forecast in early September. Renault said higher car prices meant that despite a 22.3% drop in global sales, third-quarter revenue fell 13.4% to 8.98 billion euros ($10.4 billion) from 10.37 billion a year earlier.


HSBC’s reported pre-tax profit for the third quarter was $5.4 billion

HSBC announced this morning that its reported pre-tax profit for the third quarter of 2021 was $5.4 billion, beating expectations. HSBC’s reported pre-tax profit for the third quarter was expected to rise 22.8% year-on-year to $3.776 billion, according to analyst estimates compiled by the bank. Revenue is estimated to rise 3.1% year-on-year to $12.3 billion.