Key Takeaways
Markets
- Most Asian stocks retreated on Monday as markets digested the outlook for higher interest rates in developed markets, while Chinese shares led losses amid persistent concerns over a property market crisis
- Nikkei Index +0.9%; Shanghai Index -0.4%; Hang Seng Index -1.2%
- Renewed concerns over China also weighed, especially after embattled real estate developer China Evergrande Group said it will be unable to issue new debt due to an ongoing government investigation into its unit Hengda Real Estate Group
- News of the investigation had fueled fears of a broader government crackdown on the property sector, which is grappling with a brewing debt crisis
- Singapore and Australia are expected to report inflation figures for August this week, while Japan will release inflation data for the Tokyo region
- S&P 500 Index -0.2%; Nasdaq Index -0.1% Friday
- On Friday in the US, all three major indexes notched a fourth straight day of losses as investors continued to grapple with signals from the Federal Reserve that it intended to keep interest rates higher for longer, with the S&P 500 and the Nasdaq Composite notching their worst weeks since March
- In other economic news, S&P Global said its flash US Composite PMI came in at 50.1 in September, slightly down from 50.2 in August, in a sign of stagnating business activity
Commodities
- Brent for November is up USD 0.6/b at USD 93.9/b this morning after ending unchanged the last trading day
- In the U.S., the number of oil rigs reduced by 8 to 507 last week, according to Baker Hughes data on Friday
- China is gearing up for the Golden Week holiday from Friday which will boost demand for jet fuel in the biggest oil importer
- More than 21 million people are expected to fly during the eight days, following record air-passenger traffic in July and August
- Dutch and UK NBP nat. gas prices both increased by 2% the last trading day
Company & Sector News
- Xplora Technologies enters into revenue sharing model with US-based telecommunications company
- Xplora Technologies has entered into a new revenue sharing agreement with Troomi Wireless, a specialized mobile service provider in the children’s telecommunications area. Troomi undertakes to purchase 10,000 units per year
- It is the company’s first revenue sharing agreement in the US. As part of the agreement, Troomi will sell Xplora’s smartwatches through its distribution channels, complementing the offerings with Troomi’s own connectivity. Both parties expect shared monthly recurring service revenue. In addition, Xplora will get its traditional hardware margin
- As previously announced, Xplora aims to expand its new, innovative recurring revenue model to markets outside of the Nordics. Xplora´s smartwatches are currently being sold by telcos such as Vodafone, Telefonica, Deutsche Telekom, OneCall (Telia) and Elisa
- Zwipe – change in board of directors
- Tanya Juul Kjær, member of the Board of Directors, has resigned with immediate effect due to time constraints involving her myriad other professional commitments
- Ms. Kjær has been a member of Zwipe’s Board of Directors since May 2019 and will not be immediately replaced
- Aker BioMarine Successful launch of Superba Krill Oil in South Korea
- Aker BioMarine, together with its South Korean partner, successfully reintroduced Superba sales in South Korea through a TV home shopping launch yesterday
- Results came in at the TV channel’s target, with good levels of interest and momentum to enable the local partner to continue to build the launch marketing campaign as planned
The company will continue to work closely with its local partner to gradually rebuild the South Korean market in the coming weeks and months ahead
