(RTTNews) - The Thai stock market has finished lower in three straight sessions, sinking more than 25 points or 1.7 percent along the way. The Stock Exchange of Thailand now rests just beneath the 1,555-point plateau although it's expected to find traction on Monday.
The global forecast for the Asian market is cautiously optimistic, with upside limited by surging coronavirus cases in India. The European markets were down and the U.S. bourses were up and the Asian markets figure to split the difference.
The SET finished modestly lower on Friday following losses from the financial shares and the energy producers.
For the day, the index dropped 14.62 points or 0.93 percent to finish at 1,553.59 after trading between 1,550.62 and 1,564.62.
Among the actives, Advanced Info dropped 0.85 percent, while Thailand Airport skidded 1.18 percent, Asset World retreated 1.68 percent, Bangkok Asset Management sank 0.97 percent, Bangkok Bank declined 1.62 percent, Bangkok Dusit Medical jumped 1.86 percent, Bangkok Expressway added 0.62 percent, Gulf surrendered 1.46 percent, Kasikornbank plunged 3.65 percent, Krung Thai Bank shed 0.88 percent, PTT lost 0.64 percent, PTT Exploration and Production fell 1.31 percent, PTT Global Chemical slid 0.80 percent, SCG Packaging dipped 0.51 percent, Siam Commercial Bank tumbled 1.88 percent, Siam Concrete was down 0.47 percent, TMB Bank tanked 2.52 percent and BTS Group, Charoen Pokphand Foods and PTT Oil & Retail were unchanged.
The lead from Wall Street is positive as the major averages showed a strong move to the upside, picking up steam as the session progressed.
The Dow spiked 227.59 points or 0.67 percent, while the NASDAQ jumped 198.39 points or 1.44 percent to end at 14,016.81 and the S&P 500 gained 45.19 points or 1.09 percent to close at 4,180.17. For the week, the Dow fell 0.5 percent, the NASDAQ shed 1.4 percent and the S&P eased 0.1 percent.
The rebound on Wall Street partly reflected the volatility seen over the past few sessions, which saw the major averages show big swings back-and-forth.
Optimism about the economic recovery has helped prop up the markets, although concerns about high valuations and surging coronavirus cases overseas have led to worries about the near-term outlook.
In economic news, the Commerce Department reported a substantial rebound in new home sales in March, sending sales to their highest level since August 2006.
Crude oil prices moved higher on Friday, lifted by buoyant demand for energy in the U.S. despite a weak global outlook. West Texas Intermediate Crude futures for June ended up by $0.71 or 1.2 percent at $62.14 a barrel. WTI crude futures shed 1.7 percent in the week.
Natuzzi S.p.A. (NYSE:NTZ) ("Natuzzi” or the "Company”) will disclose 2020 second quarter and first half financial results on Friday September 25, 2020, after market close.
A copy of the press release will be filed with the U.S. Securities and Exchange Commission and also available at https://www.natuzzigroup.com/en-EN/ir/investors.html under the "SEC Filings” section.
About Natuzzi S.p.A.
Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. is Italy’s largest furniture house and one of the most important global players in the furniture industry with an extensive manufacturing footprint and a global retail network. Natuzzi is the Italian lifestyle best-known brand in the upholstered furnishings sector worldwide (Brand Awareness Monitoring Report - Ipsos 2018) and has been listed on the New York Stock Exchange since May 13, 1993. Always committed to social responsibility and environmental sustainability, Natuzzi S.p.A. is ISO 9001 and 14001 certified (Quality and Environment), OHSAS 18001 certified (Safety on the Workplace) and FSC® certified (Forest Stewardship Council).
View source version on businesswire.com: https://www.businesswire.com/news/home/20200910005447/en/
Ray Dalio of Bridgewater
Eoin Noonan/Web Summit/Getty ImagesHere's a rundown of news on hires, exits, and promotions from the past week. Are we missing anyone? Let us know.
Shawn Joshi, the head of index credit trading at Morgan Stanley, is leaving the firm, sources told Insider. Joshi is headed to the $1.9 billion credit-focused hedge fund Compass Rose Asset Management. Prior to joining Morgan Stanley in 2018, Joshi was a managing director at Goldman Sachs in derivatives trading.
Goldman Sachs markets division chairman Michael Daffey is retiring from the firm in March, according to an internal memo seen by Insider. Daffey, who's been at Goldman since 1994, was promoted to a variety of leadership roles across trading divisions and managed some of the bank's largest hedge fund clients.
Bridgewater Associates is reshuffling top leadership, as first reported in the Wall Street Journal. COO Brian Kreiter is leaving the firm to start his own company, while Nir Bar Dea has been promoted to deputy CEO reporting to Bridgewater chief executive David McCormick. The fund is also "expanding and formalizing" its investment committee to draw on "a deep bench of investment leaders," according to a memo posted on LinkedIn by McCormick Friday, while Bridgewater founder Ray Dalio "will continue to serve as a mentor across functions and remains Co-CIO and Co-Chairman."
JPMorgan announced several top leadership promotions in its investment banking division, according to a series of memos viewed by Insider. Peter Engel (who led investment banking for the western US) and Erik Oken (who was the global head of consumer retail investment banking) are joining the executive committee of global chairs of investment banking, a leadership team created at the bank last year. Succeeding Oken is Dana Weinstein, who's heading up a new North America consumer, retail, and business services investment banking group.
Meanwhile, two other investment banking executives at JPMorgan, Charlie Bouckaert and Mark Marengo, are now the co-heads of North America diversified industries investment banking at JPMorgan.
JPMorgan also has its eyes sight on overseas SPACs. The bank is creating a new team of senior dealmakers to oversee SPAC activity in Europe, the Middle East, and Africa, according to Financial News. Guillermo Baygual, currently the co-head of JPMorgan's EMEA M&A business, and Lukasz Dziarnowski, an executive director and M&A banker based in London, will be joining the team.
Grayscale Investments is staffing up its C-suite. The digital asset manager that plans on doubling its headcount this year has brought on Hugh Ross as its COO, Benjamin Melnicki as its chief compliance officer, and Angela Romano Kuo as its chief people officer. Rosswas previously at the fund Horizon Kinetics, where he oversaw the crypto portfolio. Melnicki is the former head of Americas regulatory affairs at Ripple. Romano Kuo joins Grayscale after leading people and talent strategy at firms like FanDuel.
Venture capital fund NYCA has made two promotions to its leadership team, according to a blog posted by the company. Jerry Solomon, who joined NYCA a year ago after serving in executive positions at Lending Club, Affirm, and Aven (three NYCA portfolio companies), is now a partner. Sol Lee, meanwhile, has been promoted to principal. She worked at Mastercard and in Uber's payments division before joining NYCA and has worked on the firm's investments in Smartrr, Savi, FinLync, and Ethic in addition to overseeing NYCA's impact investing.
Trading Technologies, a futures trading system and software company, announced a shakeup in its leadership team as it promotes a slate of internal executives with the departure of Michael Kraines, president and CFO. Farley Owens has been promoted to president, Roger Mills will serve as CFO, Guy Scott is now an executive vice president in charge of global sales, and Bharat Mittal has been promoted to CTO.
Healthcare investment bank SVB Leerink has a new global co-head of investment banking. Barry Blake, who will be based in New York and was previously a senior managing director at Guggenheim Securities in charge of healthcare services advisory, joins the firm after a career in healthcare M&A at Citigroup, JPMorgan, and Lehman Brothers.
Fixed-income trading and research at Bank of America has some new leadership. Michael Maras has been promoted to head the bank's global fixed-income, currencies and commodities research after David Woo's departure from Bank of America, as reported in Bloomberg. Maras joined Merrill Lynch in 1996 and will be based in London. Within foreign exchange, the bank has also promoted Flavio Corsini to head Brazil's local currency trading operations.
A top KKR executive in Asia is leaving the firm, according to Bloomberg. Singapore-based Terence Lee, a managing director at the investment firm in charge of Asia Pacific, has resigned. Lee headed KKR's technology, media, and telecoms investments in the region.
Reed Alexander, Shannen Balogh, Dakin Campbell, Dan DeFrancesco, Meredith Mazzilli, Alex Morell, and Bradley Saacks contributed reporting.