Yo-Yo In the Markets

October 15, 2022

Good Morning,

Hot US inflation causes markets to wipe out initial losses, France sends Germany gas for first time, Russia to move people from Kherson as Ukraine advances, National MP resigns from her portfolio amid conflict of interest issue, NZ Law Society elects new president, Ministry of Primary Industries commits $6.7 million to salmon farm project, Jan 6 Committee votes to subpoena Donald Trump and Manchester United strike late winner in the Europa League.

Let's jump in.

Before The Bell

Markets

  • The markets reversed earlier losses as US Inflation came in hot at 8.2% beating many analyst expectations

Earnings

  • Friday: Citigroup, Wells Fargo, JPMorgan Chase and Morgan Stanley all release earnings today.

News Summary

  • US inflation came in higher than expected at 8.2% sending the markets down initially (BBG)

  • France sends Germany gas for the first time amidst energy crisis (BBC)

  • Russia to vacate people from Kherson as Ukraine advances on the city (BBC)

  • NZ Law Society elects new president, Frazer Barton, a partner at Anderson Lloyd (NBR)

  • MPI commits $6.7 million to land-based salmon farm (NBR)

  • National MP quits portfolio amid dispute with government department (Herald)

  • National-Act could govern in latest political poll (Herald)

  • Jan 6th committee votes to subpoena Donald Trump (BBG)

  • Japanese yen touches 32-year low against US dollar (BBC)

Deal Flow

Investments/ M&A

  • Dish Network in talks with Ergen-Backed SPAC for Wireless Merger (BBG)

  • Poland government eyes acquisition of grocer Zabka (BBG)

  • Vista Equity to pay $4.6 billion USD for software firm KnowBe4 (BBG)

  • Genex Power takeover held up by project delays (AFR)

  • US grocer Kroger in talks to merge with rival Albertsons (AFR)

VC & Fundraising

  • IT services provider FPT invests in Japanese consulting business LTS (BW)

  • Skydance Media announces $400 million USD funding round led by KKR (BW)

Equity Raises

  • Perfect Communication to seek a valuation of up to $1 billion USD from a listing in Saudi Arabia (BBG)

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