Wirecard Stock Slides -10% on Sell Recommendation

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1. Wirecard Stock Slides -10% on Sell Recommendation

Wirecard AG shares slumped after the German payment processor’s Indian business became a focus point again and a Citigroup Inc. analyst said the company faces prolonged uncertainty because of the accounting allegations it’s facing. The shares lost as much as 10 percent on Friday, marking the biggest intraday drop since Feb. 8. Wirecard has been drawn into a London lawsuit by former minority shareholders of an Indian business who claim they were cheated out of money before the embattled payments company bought the firm in 2015. The same Indian entity is being investigated by authorities in Singapore for allegations of money laundering and document forgery.*

2. Oil Prices Stabilise After Week-Long Rally

Oil prices stabilised on Monday, after noting a week long rally, on concerns that an economic downturn may dent fuel consumption. It is important to note however, that crude markets were broadly supported by supply cuts led by producer group OPEC and U.S. sanctions against Iran and Venezuela. Brent crude oil futures were last seen trading at $67.22 per barrel at 7:45 GMT, up 4 cents, or 0.04 percent, from their last close. U.S. West Texas Intermediate (WTI) futures were at $58.74 per barrel, down 8 cents, or 0.1 percent, from their last settlement.**

3. Tesla Unveils New SUV, Boeing Pauses Deliveries

Tesla unveiled its Model Y over the weekend with its sport-utility crossover SUV starting price at $47,000. TSLA closed down -5.01 on Friday before the big reveal event and the stock is seen experiencing major volatility at the US open today. Meanwhile, Boeing paused 737 Max deliveries after a worldwide grounding of the planes amid safety fears. BA tumbled to a six month low after the latest fatal accident in Ethiopia was linked to a Lion Air Crash back in October.***

You can find and trade all CFDs on all the above mentioned assets on BDSwiss Forex/CFD platforms.

 

This Week’s Most Important Upcoming Events

Time Cur. Imp. Event Forecast Previous
Tuesday, March 19, 2019
00:30 AUD RBA Meeting Minutes  
09:30 GBP Average Earnings Index +Bonus (Jan) 3.2% 3.4%
09:30 GBP Claimant Count Change (Feb) 13.1K 14.2K
10:00 EUR German ZEW Economic Sentiment (Mar) -11.0 -13.4
Wednesday, March 20, 2019
09:30 GBP CPI (YoY) (Feb) 1.8% 1.8%
14:30 USD Crude Oil Inventories 1.602M -3.862M
GBP UK Parliament vote on Brexit deal
18:00 USD FOMC Economic Projections  
18:00 USD FOMC Statement  
18:00 USD Fed Interest Rate Decision 2.50% 2.50%
18:30 USD FOMC Press Conference  
21:45 NZD GDP (QoQ) (Q4) 0.6% 0.3%
Thursday, March 21, 2019
All Day Japan – Vernal Equinox Holiday
01:30 AUD Employment Change (Feb) 15.2K 39.1K
08:30 CHF SNB Interest Rate Decision -0.75% -0.75%
08:30 CHF SNB Monetary Policy Assessment  
09:00 CHF SNB Press Conference  
09:30 GBP Retail Sales (MoM) (Feb) -0.4% 1.0%
Tentative EUR EU Leaders Summit  
12:00 GBP BoE Interest Rate Decision (Mar) 0.75% 0.75%
12:30 USD Philadelphia Fed Manufacturing Index (Mar) 6.1 -4.1
Friday, March 22, 2019
08:30 EUR German Manufacturing PMI (Mar)   48.0 47.6
Tentative EUR EU Leaders Summit  
10:30 RUB Interest Rate Decision (Mar) 7.75% 7.75%
12:30 CAD Core CPI (MoM) (Feb) 0.3%
12:30 CAD Core Retail Sales (MoM) (Jan) 0.2% -0.5%
14:00 USD Existing Home Sales (Feb) 5.10M 4.94M

 

This Week’s Upcoming Earnings Reports:

Name Symbol Next Earnings Date
Linde LING Mar 18, 2019
HD Supply HDS Mar 19, 2019
FedEx FDX Mar 19, 2019
BMW ST BMWG Mar 20, 2019
Next NXT Mar 21, 2019
Nike NKE Mar 21, 2019
Tiffany&Co TIF Mar 22, 2019

 

 

*Source: CNBC, Mar 18, 2019 2:48 AM ET
**Source: Bloomberg Mar 18, 2019 3:53 AM ET
***Source: Reuters Mar 18, 2019 03:07 AM ET

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