HCA Market Close 26.10.22: Featuring Skjern Bank
HCA Market Close 26.10.22 – Skjern Bank prepares to report its Q3 earnings tomorrow.
Market Movements:
Denmark: OMX:C25 (+1.39%) ; Sweden: OMX:S30 (+0.24%) ; Norway: OBX:OSL (+1.17%) ; S&P 500 (+0.42%) ; Nasdaq (-0.28%); Stoxx 600 (+0.66%)
Market Drivers:
Markets gain while the dollar falls. Falling yields shake off weak tech earnings.
Today markets gained despite weaker-than-expected earnings from Alphabet and Microsoft yesterday. The seemingly bad news has been received positively by markets because the weakening advertising spending on Google and Facebook is a key indicator that inflation could be easing. It also signals that the Fed’s attempts to slow the economy is working, with markets pricing in less aggressive rate hikes.
Snacks from the HCA Platform
Skjern Bank is expected to report its Q3 2022 numbers before the market opens tomorrow. It’s the first of the smaller and midsized listed banks in Denmark to report, so it will also be an indicator of what to expect from its peers. Most likely, we will see some losses on the bond portfolio, and we have so far experienced several banks downgrade their full year outlook pre their Q3 2022 report. That has not been the case with Skjern Bank, which guides for a pre-tax result of DKKm 175-205. Contrary to these expected losses, there is a good chance that Net Interest Income will have performed well under rising interest rates – at least that has been the indication from the larger Nordic banks that have reported so far. You can read more about Skjern Bank on the company section on our new webpage here: https://lnkd.in/ezUERnab
Disclaimer: HC Andersen Capital receives payment from the companies for a #DigitalIR agreement./ Philip Coombes 18:25
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Skjern Bank
Skjern Bank bedriver bankverksamhet. Banken erbjuder idag ett utbud av finansiella tjänster, anpassat för både privat- och företagskunder. Tjänsterna innefattar huvudsakligen bostads- och billån, pensionssparande och kapitalförvaltning. Utöver erbjuds diverse rådgivningstjänster. Störst verksamhet återfinns inom den danska marknaden, med huvudkontor i Skjern.
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