August 17, 2022
United States:
US Stocks Slide on Fed Worries as Yields Climb: Markets Wrap
US stocks fell as concerns over the Federal Reserve’s aggressive rate-hike path weighed on risk sentiment. Treasury yields jumped and the dollar rose.
The S&P 500 Index slid 0.8% after the equity benchmark posted modest gains Tuesday amid a rally in retailer stocks. The tech-heavy Nasdaq 100 retreated 1%.
Europe:
Fertilizer Usage Is Being Pummeled by Europe’s Energy Crisis
The energy crunch throttling Europe’s fertilizer output is threatening to force the world’s farmers to use even less of the nutrients crucial for growing food.
Soaring prices of gas, a key feedstock, have already curtailed a quarter of Europe’s nitrogen fertilizer capacity, CRU Group estimates. Now, worries are mounting that the crisis will worsen. For Europe, that could mean even less production and more dependence on imports of ammonia, from which nitrogen products are made.
Asia:
Goldman-Backed ReNew Secures $1 Billion Loan for India Project
ReNew Energy Global Plc, one of India’s largest renewable power producers, said it has secured a $1 billion loan for a project that can supply round-the-clock clean electricity.
It will borrow the money from a consortium of 12 international lenders, ReNew said in an statement. The loan is the largest overseas borrowing for a single renewable power project in India, it said.
Disclaimer:
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may affect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
