Top Gainers – The World Market
1. Hertz Global Holdings – stocks of the US car rental company rose after the publication of a consensus forecast of its net profit for the 3rd quarter of 2018. It is supposed that it will increase by 17% compared to the same quarter of the last year.
2. China Evergrande Group – stock prices of the Chinese real estate developer increased due to the plans to pay interim dividends in the amount of 14.7 billion yuan ($2.16 billion). Such a decision may be approved by the board of directors on August 20, 2018.
Top Losers – The World Market
1. Mitsui Mining and Smelting Company, Ltd. – stock prices of the Japanese mining company dropped because of the workers’ strike at Chile’s Caserones copper mine controlled by Mitsui Mining and Smelting Company.
2. Tronox Ltd – stocks of the US company involved in the production of titanium fell after a relatively modest forecast of profit for the 3rd quarter of 2018 and the announcement of small interim dividends.
Top Gainers – Foreign Exchange Market (Forex)
1. USDTRY, EURTRY - the growth of the Turkish lira on the chart indicates its weakening against the US dollar and the euro. The US increased import duties on Turkish steel and aluminum, and imposed sanctions against a number of Turkish officials. In response, Turkey raised duties on a number of US goods, including tobacco, cars, cosmetics, etc.
2. USDRUB, USDZAR - the growth of the Russian ruble on the chart indicates its weakening against the US dollar. This was contributed by the US plans to tighten economic sanctions against Russia. An additional negative was the decrease in global hydrocarbon prices. Their share in Russian exports exceeds 70%. The growth of the South African rand also means its weakening against the US dollar. Moody's agency noted a slowdown in tax reforms in South Africa and a slowdown in the growth of retail sales. Investors are afraid of a decrease in the country rating.
Top Losers - Foreign Exchange Market (Forex)
1. NZDCHF, NZDJPY - the decline of these charts means the weakening of the New Zealand dollar against the Swiss franc and the Japanese yen. The Reserve Bank of New Zealand said it was going to keep the rate at a historic low of 1.75% until 2020. However, it does not exclude its further decline in case of a slowdown in economic growth in New Zealand.
2. AUDCHF, AUDJPY - the decline of this chart means the weakening of the Australian dollar against the Swiss franc and the Japanese yen. Wage growth in Australia in the 2nd quarter of the current year was 2.1% year over year, which almost coincides with the historical low of + 1.9%. Investors believe that this will slow down the growth of inflation and allow the Reserve Bank of Australia to keep the rate at a historic low of 1.5% longer. Let us recall that it has been there for already 2 years.