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Analyst Comment

HCA Market Close 09.12.22: Featuring BankNordik, Djurslands Bank, Skjern Bank, Sparrekassen Sjælland-Fyn, and Vestjysk bank

By Philip CoombesEquity Research Analyst
Føroya BankiDjurslands BankSkjern BankVestjysk Bank

HCA Market Close 09.12.22 – Catch up on HC Andersen Capital’s Bank Seminar and Sector Report.

 

Market Movements:

Denmark: OMX:C25 (+1.50%) ; Sweden: OMX:S30 (+1.17%) ; Norway: OBX:OSL (+0.08%) ; S&P 500 (+0.17%) ; Nasdaq (+0.37%); Stoxx 600 (+0.84%)

Market Drivers:

Markets gained today, defying higher-than-expected PPI data.

Producer prices climbed 7.4% year-on-year in November, topping economists’ expectations of 7.2%. Markets initially sold off with the expectation of more aggressive rate hikes from the Fed; however, they pared initial losses, with European markets closing higher.

Markets will be looking for further clues on Tuesday when November’s US CPI report is published, giving greater detail as to the stickiness of inflation. Markets remain very in conflict regarding the narrative. With fears of recession a primary driver during this week, higher-than-expected PPI data can suggest that economy is not falling as rapidly as many may have expected.

 

Snacks from the HCA Platform:

 

Yesterday HC Andersen Capital hosted a bank seminar together with BankNordik, Djurslands Bank, Skjern Bank, Sparrekassen Sjælland-Fyn, and Vestjysk bank. Catch up to better understand the outlook within Danish small and mid-cap banks. You can also read HC Andersen Capital’s latest sector report covering the banks (in Danish).

Seminar Link: https://www.inderes.dk/videos/bankseminar-mindre-og-mellemstore-danske-banker

Bank Sector report link: https://www.inderes.dk/research/bank-rapport-bankernes-robusthed-december-2022

Disclaimer: HC Andersen Capital receives payment from the companies for a #DigitalIR agreement./ Philip Coombes 18:30

 

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