Market Information Tuesday 6 December 2022

Australia’s central bank decided to raise the Cash Target Rate by 25 basis points to 3.1% in its last monetary meeting of 2022. An accompanying memo indicates that this will not be the last interest rate hike as inflation is still too high. For the month of October, inflation stood at 6.9%.

Commodity trader Trafigura will supply liquefied natural gas (lng) to Germany over the next four years to reduce the European market’s dependence on Russian gas. The Swiss company has secured a $3bn loan secured by the German state specifically for this project. The loan has been arranged and underwritten by Deutsche Bank and one other unnamed bank and syndicated to more than 25 other lenders.

Analysts have become more negative about the performance of companies listed on the Amsterdam stock exchange. High inflation, materials shortages and the overall economic downturn are affecting companies’ earnings trends more than expected, market researchers say after analysing third-quarter figures. They lowered their earnings forecasts for the 25 companies in the AEX index for the 2022 financial year by 10% on average, according to an analysis of information from news agency Bloomberg.

The 6M Euribor is unchanged at 2.41% compared to previous business day. The 10Y Swap increased with 2 basis points to 2.60% compared to previous business day.