Eurex Market Weekly

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Trading Volume Update: Weekly average volume in EURO STOXX 50® Index Futures reached 2,399,153 lots (EUR 170.6 billion notional) over the past 5 days with a weekly high of 5,068,039 contracts (EUR 363.2 billion notional) on Tuesday (September 13, 2022). Weekly average volume in DAX Futures stood at 116,605 contracts (EUR 75.9 billion notional). Whereas for Mini-DAX futures, weekly average volume stood at 48,281 contracts (EUR 6.3 billion notional).

German Chancellor Olaf Scholz is expected to sign contracts for liquefied natural gas during his visit to the United Arab Emirates on Sunday (18 Sep) as Germany looks for new partners to replace Russian energy imports

News Link: https://www.reuters.com/markets/europe/germany-sign-lng-contracts-uae-german-economy-minister-2022-09-19/

Sterling was weaker against a robust dollar on Monday, hovering near last week's 37-year low; While the Bank of England is expected to raise rates by at least 50 basis points (bps) this week, the prospect of further tightening has failed to shore up the pound.

News Link: https://www.reuters.com/markets/europe/sterling-languishes-near-37-year-low-vs-dollar-2022-09-19/

Russia's central bank lowered its key interest rate by 50 basis points to 7.5% on Friday (16 Sep), suggesting that its rate-cutting cycle may be close to an end as inflationary expectations rise and omitting guidance for future cuts.

News Link: https://www.reuters.com/markets/europe/russian-central-bank-trims-key-rate-75-does-not-signal-further-cut-2022-09-16/

Spain has not consulted the European Central Bank about a proposed banking tax as the plan could still be amended; Even though higher interest rates are boosting banks' financial margins, the banking levy right now could have negative side-effects

News Link: https://www.reuters.com/markets/europe/ecb-not-consulted-yet-spanish-banking-tax-proposal-de-guindos-says-2022-09-19/ 

Mercedes-Benz is planning to build a wind farm in the northwestern Germany; It can produce a hundred megawatts of electricity equivalent to over 15% of the annual demand for production.

News Link: https://www.reuters.com/business/energy/mercedes-benz-build-wind-farm-northwestern-germany-examining-solar-options-2022-09-19/ 

Volkswagen shares hovered around, reflecting a mixed response from investors to the listing plans for Porsche AG; The company is aiming for a valuation of 70 billion-75 billion euros for Porsche AG; Meanwhile, shares in Porsche SE were up 3.5% in afternoon trade.

News Link: https://www.reuters.com/business/autos-transportation/porsche-ag-valuation-sends-volkswagen-shares-3-higher-premarket-trade-2022-09-19/

Swiss bank UBS is hiring a team of 'content reviewers' to make sure that Chinese research publications by its analysts are free from any "sensitivities", the Financial Times reported on Saturday.

News Link: https://www.reuters.com/business/finance/ubs-recruits-content-reviewers-vet-its-chinese-publications-ft-2022-09-18/ 

Airbus expects new orders and deliveries to keep growing for remainder of the yearas a scramble for new energy supplies and higher military spending accelerate a recovery in the long-sluggish rotary-wing sector.

News Link: https://www.reuters.com/business/aerospace-defense/airbus-sees-helicopter-lift-off-energy-crisis-military-spend-2022-09-16/ 

AstraZeneca said on Friday (16 Sep) the European Medicines Agency (EMA) had backed Evusheld as a treatment for adults and adolescents with COVID who do not need supplemental oxygen and who are at increased risk of their disease worsening

News Link: https://www.reuters.com/business/healthcare-pharmaceuticals/astrazeneca-says-antibody-cocktail-backed-treating-covid-eu-2022-09-16/

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