April 26, 2022
- US stocks ended yesterday broadly higher with the S&P 500 rising by 0.6%. Government bonds strengthened with the US 10 year yield dropping back to the 2.8% level.
- Elon Musk is set to buy Twitter for about $44bn. Twitter’s shareholders will receive $54.20 per share, a 38% premium to the stock’s close on April 1st, the business day before Musk initially disclosed a significant stake in the company.
- On the earnings front, Coca-Cola’s share price rose by 1.1% yesterday after it reported better than expected results. Microsoft and Alphabet report later this evening.
- European equities declined yesterday with the Euro Stoxx 50 falling by 2.1%. The market has opened nearly 1% higher this morning.
- Markets across Asia were mixed overnight following Monday’s selloff. Chinese stocks underperformed despite the People’s Bank of China pledging more support for the economy.
Source; Goodbody Asset Management