Weekly Top Gainers/Losers: 13.06.2018

Dmitry Lukashov IFC Markets

Top Gainers – The World Market

1. Hertz Global Holdings – stock prices of the US car rental company are rising before the start of the hurricane season in the US. In 2018, the first American storm Alberto already damaged the infrastructure in Northern California and Maryland and even caused several deaths, which were results of accidents. As a rule, during the hurricane season in the US, the demand for renting cars increases significantly.

2. MBIA Inc. – stock prices of the American insurance company have increased by almost 40% since the beginning of the current year. The company managed to cut losses and increase revenue in the first quarter. Investors expect that the government of Puerto Rico may partially pay off its obligations to MBIA and other creditors.

market sentiment ratio long short positions

Top Losers – The World Market

1. Asaleo Care Ltd – stock prices of the Australian manufacturer of hygiene products fell after it became known that the company's shares are excluded from the stock index S&P/ASX 200.

2. APA Group – stock prices of the Australian gas transportation company were among top losers for the last 7 days, but on Wednesday, they rose by 20%. This happened after the announcement of a buyout offer by the Hong Kong consortium Cheung Kong Infrastructure Holdings.

Top Gainers – Foreign Exchange Market (Forex)

1. EURZAR, USDZAR - the South African rand collapsed against the euro and the dollar after the publication of negative economic statistics. On the chart it looks like a growth. In April 2018, retail sales grew by only 0.5% in annual terms after a 4.8% increase in March. Earlier, a slowdown in GDP growth in South Africa in the 1st quarter of 2018 was reported.

2. EURMXN, USDMXN - the Mexican peso collapsed against the euro and the dollar. On the chart it looks like a growth. Investors fear that Donald Trump may induce the US to exit the trade union North America Free Trade Agreement (NAFTA) with Mexico and Canada.

Top Losers - Foreign Exchange Market (Forex)

1. AUDJPY - the Australian dollar weakened against the Japanese yen and other currencies. This was contributed by the reduction in the positive balance of the foreign trade in April 2018 almost 2 times compared with March. In addition, the Reserve Bank of Australia said it would keep its discount rate at the current record low level of 1.5% for a long time.

2. USDCZK - the Czech koruna has strengthened against the US dollar. This was contributed by the announcement of the Czech Central Bank about a possible rate hike at the meeting on June 27, 2018. An additional positive was the noticeable growth of the current account surplus in April.

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Author

Dmitry Lukashov

IFC Markets

Dimtry Lukashov is the senior analyst of IFC Markets. He started his professional career in the financial market as a trader interested in stocks and obligations.

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