Last week, the sentiment for Financial Exchanges jumped 26 points. ASX Ltd. and Deutsche Boerse led the category with a sentiment score of 34 and 27 points respectively.
Top Industry: Financial Exchanges
From Jan 13 – 19, ASX hit the record for four straight days contributing to its position as the best-performing market among developed countries. The exchange passed its 7,000-milestone for the first time on Jan 16. The record prices are attributed to the low interest rates and a potential trade deal to be signed between China and the U.S.
On the other hand, the sentiment for Deutsche Boerse reached 27 points. By collaborating with Cashlink, the Venture Network of the exchange offers its startup members a new financing option using the distributed ledger technology (DLT), which allows them to receive discounted access to the issue of digital securities.
Flop Industry: Coal
Meanwhile, the coal industry was the worst-performing industry with a sentiment drop of 45 points. The biggest sentiment losers included Adani Enterprises Ltd. and Coronado Global Resources Inc.
India’s federal investigating agency filed a case against Adani Enterprises Ltd, India’s biggest private sector coal importer and trader, for the illegal behavior related to a coal supply deal in 2010. Reuters reported that the company was accused of using a proxy company to bid for a contract, even as Adani itself was participating in the process.
The Coronado Global Resources Inc. suspended the operations at its mine in Australia following a worker’s death on Jan 12. The company had notified the authority and an investigation was underway. CEO Gerry Spindler says Coranado is continuing its own full investigation into the accident causes and supports the third party reviews.
1 Companies that contributed most to last week’s industry sentiment change.
2 Top trending event related to the respective company.
3 Weekly aggregated company sentiment score (ranging from -100 to +100).
4 Weekly aggregated company attention buzz (the percentage by which the number of news, blogs and tweets about an asset deviates from normal attention).
*Industry name and classification as per Morning Star
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