Some risk-off moods could have been spotted on the markets in the past couple of minutes. Indices in Europe and US equity futures pulled back, gold jumped while other commodities moved lower. According to media reports, Chinese authorities asked local governments to prepare for a downfall of the Evergrande Group and assess possible impact of such a scenario.. Projects started but not finished by Evergrande may be taken over by local developers . However, it was also reported that state-owned companies and local governments were asked to act only in case of an disorderly collapse of Evergrande. Story shows that in spite of assuranced related to honoring interest payment schedule, problems are far from over.
DE30 dropped around 0.5% on the news while US500 trimmed 0.4%. Gold jumped over $5 per ounce while copper plunged over 1%. US strengthening can be spotted on the FX markets.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
