On Tuesday, the ASE will focus on Onward Medical, a medical technology company that is developing a treatment to help people with spinal cord injuries. Electric bus manufacturer Ebusco also brought news of a new order.
Onward Medical saw an increase in its operating losses due to higher spending on research. The company said it had achieved positive results in a study on the ability of its treatment to improve arm and hand functions in people with spinal cord injuries. Onward expects to submit applications for registration in the United States and the European Union in 2023.
Ebusco also knows how to focus on himself. The electric bus manufacturer has signed a contract in Sweden with the public transport company Connect Bus for the delivery of 47 buses. The company did not disclose financial details.
JDE Peets coffee and tea company has nominated Patricia Capel as a non-executive member of the Board of Directors. The Brazilian previously worked for the beer group AV Inbev.
The general mood is expected to be driven in part by concerns about higher inflation, interest rates and a possible recession. In addition, Nord Stream gas pipelines 1 and 2 dominate the news. Pressure decreased in both offshore pipelines between Russia and Germany on Monday and the cause is still under investigation.
Investors will also follow the currency markets with great interest. Sterling has fallen sharply in recent days on concerns about UK budget plans, but bounced back on Tuesday morning. According to Bloomberg news agency, the British central bank is studying the steps that should be taken to support the national currency, which fell to an all-time low on Monday.
On Monday, the AEX index closed 0.2 percent higher at 640.41 points. The MidKap index fell 0.8 percent to 853.28 points. In Asia, stock markets showed a mixed picture. The Nikkei in Tokyo closed higher, as did stocks in Shanghai and Sydney. But in Hong Kong and Seoul, the most important indicators were losing out. In New York, the Dow, S&P 500 and Nasdaq fell sharply on Monday.
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