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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Europe: FTSE 100 +0.81%, DAX +0.43%, CAC 40 +0.75%
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Irish-American online payment processor Stripe, has added Ford to its customers list, with the American carmaker signing a five-year deal with the goal of strengthening Ford’s e-commerce strategy and long-term outlook. Ford aims to use Stripe’s technology to process digital payments across Europe and North America.
Stripe, which is set for an initial public offering in 2022, is attracting investors from all corners of the world, currently valued at $95 billion as of April of 2021.
Microsoft announced that it shall acquire Activision Blizzard in a $68.7 billion deal. Taking over the “Call of Duty” maker at this price tag would mark the largest deal in the gaming industry history, and the biggest ever all-cash acquisition of Microsoft’s history. The Activision Blizzard (NASDAQ:ATVI) rocketed 26% on the news. The acquisition is aimed at entering the metaverse & virtual future world with confidence and bolstered powers.