Top Gainers – The World Market
1. Biogen Inc. – stock prices of the biopharmaceutical company have risen due to a report on the successful testing of a new drug against Alzheimer's disease.
2. Weatherford International Ltd – stock prices of the company providing equipment and services for the production of oil and gas rose amid the requirements to ensure greater respect for the rights of shareholders on the part of the investment fund affiliated with Q Investments. Weatherford is going to hold a meeting with investors on July 27.
Top Losers – The World Market
1. Li & Fung – stock prices of the Hong Kong logistics company fell amid the US desire to introduce new duties on the import of Chinese goods.
2. Lean Hog – the cost of futures contracts on the supply of US hog fell due to the risks of retaliatory foreign trade sanctions from China and Mexico against the United States.
Top Gainers – Foreign Exchange Market (Forex)
1. EURTRY, USDTRY - the growth of the Turkish lira on the chart indicates its weakening against the US dollar and the euro. Since the beginning of the current year, the lira has collapsed by more than 20%. The main reasons for this were investors' concerns that Turkish President Tayyip Erdogan initiates a rate reduction policy. On July 9, he officially took office after winning the election. The discount rate of the Turkish Central Bank is now 17.75% with an annual inflation of 15.4%.
2. NZDUSD, NZDJPY - the New Zealand dollar strengthened against the yen and the US dollar. Good statistics of Internet sales in June contributed to this. In addition, the New Zealand dollar is technically correcting up after a sharp decline and a 2-year low update.
Top Losers - Foreign Exchange Market (Forex)
1. USDMXN, EURMXN - the decline of this chart means the strengthening of the Mexican peso against the US dollar and the euro. The peso is strengthening amid positive statements by the new president of Mexico, a candidate from the coalition of leftist forces Lopez Obrador, who won the election on July 1.
2. USDZAR, EURZAR - the decline of this chart means the strengthening of the South African rand against the US dollar and the euro. This was contributed by a slight price increase for non-ferrous and precious metals, which account for the bulk of South Africa's exports.
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This overview has an informative character and is not financial advice or a recommendation. IFCMarkets. Corp. under any circumstances is not liable for any action taken by someone else after reading this article.
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