H&M shares tumble on fears of lockdown in Germany
BNN Bloomberg
Hennes & Mauritz AB shares fell as much as 4 per cent in Stockholm on Friday, equating to about US$1.3 billion in market capitalization, as fears of a lockdown in the clothing retailer’s biggest market rattled stock investors.
Hennes & Mauritz AB shares fell as much as 4 per cent in Stockholm on Friday, equating to about US$1.3 billion in market capitalization, as fears of a lockdown in the clothing retailer’s biggest market rattled stock investors.
Germany is H&M’s largest market in terms of sales accounting for more than 15 per cent of group revenue. The country is no longer ruling out a similar move to Austria, which has again imposed a nationwide lockdown following a renewed wave of the coronavirus pandemic.
The developments in Austria and potentially in Germany are “clearly bad for sentiment in H&M,” Nicklas Skogman, an equity analyst at Handelsbanken, said in an interview.
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Asset management giant BlackRock’s CEO Larry Fink urged clients to stay invested despite ongoing market volatility, and highlighted that artificial intelligence is reshaping investment strategies and the broader economy.
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Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Canada’s federally backed farm lender is offering financial aid to farmers, agricultural businesses and food companies hit by the spike in fertilizer and energy prices, it said on Friday.
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Another climb for oil prices sent the U.S. stock market sharply lower, as hopes collapsed for a possible cut to interest rates by the Federal Reserve.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.