Geberit Record Strongest Sales Growth in Over 20 Years
Switzerland-based building supplies manufacturer Geberit (SWX:GEBN), reported an increase of 6.7% in its sales for the fourth quarter of the 2021 fiscal year, driven by an improved construction industry towards the end of 2021. Geberit reported 16% higher annual sales, which marked the strongest growth in sales since 1999, when the Swiss business went public.
MACROECONOMIC DATA ANALYSIS
Inflation in the United States increased significantly in December, recording the largest annual inflationary rise in almost four decades, amid solid gains of rental accommodation and the used cars market. Such rise in U.S. consumer prices reinforced expectations that the Federal Reserve will begin hiking interest rates as early as March.
Turkish President Tayyip Erdogan vowed on Wednesday in parliament, to control the surging inflation of Turkey, which hit a groundbreaking 36% in December. Analysts & economists however believe, that inflation in Turkey can surge even further.
The U.S. dollar traded higher in early trading sessions of Thursday, bouncing back from previous levels, amid U.S. consumer prices rising at its fastest rate in around 40 years. The dollar index, compared to a basket of six other currencies, jumped 0.09% to 94.987.
Gold futures remained solid despite a stronger dollar greenback, which typically moves inversely to the U.S. dollar, amid U.S. inflation hitting significant levels which bolstered expectations of interest rate hikes by the Federal Reserve at a quicker pace than expected. The safe haven inched 0.03% downwards to price at $1,824 per ounce.
Crude oil prices stumbled in early Thursday trading sessions, struggling to keep its gains from the previous sessions of this week, as investors & traders remain uncertain regarding oil demand amid rising cases of the Omicron COVID-19 variant on a global scale. Brent futures dropped 0.32% to $84.40 a barrel, while WTI futures stumbled 0.40% to $82.28 per barrel.
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Tim Cook, the CEO of Apple, has provided the closest thing to a confirmation that the company is developing a headset.
In a recent interview with China Daily USA, Cook was questioned about what, in his opinion, are the essential elements for augmented reality, or AR, to be successful in the consumer market.
“I am incredibly excited about AR as you might know. And the critical thing to any technology, including AR, is putting humanity at the center of it,” he said, echoing comments he’s made in the past about how important AR is to the company.
Meta, Microsoft, and other tech titans racing to build the emerging metaverse concept have formed a group to encourage the development of industry standards that will make the companies' nascent digital worlds compatible with one another.
The World Wide Web Consortium (W3C), as well as other well-known standards-setting organizations, are among the participants in the Metaverse Standards Forum, according to a statement released by the group on Tuesday announcing its formation.