14 April 2022: Stocks making the biggest moves

Market Movers

United States

Top Sector Gainers

Sector	Gain	Related News
Hotels/Resorts/Cruise lines	+5.8%	Delta forecasts a quarterly profit as travelers keep flying despite higher fares, helping offset surging fuel costs Norwegian Cruise Line Holdings (NCLH US)
Airlines	+4.8%	Delta forecasts a quarterly profit as travelers keep flying despite higher fares, helping offset surging fuel costs Delta Air Lines (DAL US)
Motor Vehicles	+3.0%	Ark’s Wood remains bullish on Tesla as US recession fears rise Tesla (TSLA US)

Top Sector Losers

Sector	Loss	Related News
Water Utilities	-1.1%	N/A American Water Works Company (AWK US)

Delta Air Lines DAL US) shares rose 6.2% as the company forecasts a return to profit in the current quarter. Delta posted a narrower-than-expected loss per share in its fiscal first quarter and beat consensus revenue expectations. Other travel stocks jumped after Delta’s report. American Airlines (AAL US) soared 10.6%.
Warner Bros. Discovery (WBD US) shares rose 5.4% after Bank of America initiated the media stock with a buy rating. The firm said the merger of the two media companies creates a “powerhouse.”
Charles Schwab (SCHW US) shares rose 4.6% after Morgan Stanley named it a “top pick” and said rising rates will boost the stock. The firm’s price target on BlackRock implies an upside of about 65%.
JPMorgan Chase (JPM US) shares fell 3.2% as JPMorgan Chase reported a $524 million hit from market dislocations caused by sanctions against Russia due to the war in Ukraine. The bank posted better-than-expected earnings and revenue in the first quarter, but profit fell 42% from the year prior.

Singapore

RH Petrogas Ltd (RHP SP) and Rex International Holding Ltd (REXI SP) shares rose 10.2% and 6% respectively yesterday. WTI crude futures bottomed around the $100-per-barrel mark, easing from its session highs of $102 as weak economic data fueled demand fears. Customs data showed that China’s crude oil imports plunged for a second consecutive month as renewed coronavirus-induced restrictions dented oil demand in the world’s biggest consumer. On top of that, Japan, the third-largest oil consumer and importer globally, reported its sharpest monthly drop in core machinery orders in nearly two years in February. Putting a floor under prices were lingering concerns that supplies could become even tighter due to the Ukraine-Russia war.
Sembcorp Marine Ltd (SMM SP) shares extended their gains and rose 6.4% yesterday. Sembmarine and Keppel Corporation said more time and deliberation were needed to advance the proposed combination of Keppel Offshore & Marine (Keppel O&M) and Sembmarine, although “significant progress” has been made. This came some 9 months after both parties first announced talks on potentially combining the entities. Both need to complete due diligence, reach a mutual agreement on the transaction terms and finalise definitive legal documentation.
Geo Energy Resources Ltd (GERL SP) and Golden Energy & Resources Ltd (GER SP) shares rose 6.5% and 4.2% respectively yesterday. Newcastle coal futures, the benchmark for top consuming region Asia, consolidated above the $300-per-tonne mark after the European Union announced a ban on Russian coal imports from August onwards. Markets were already tight even before the Russian invasion of Ukraine as the energy crisis and soaring natural gas prices in Europe and Asia in late 2021 boosted coal use for power generation.

Hong Kong

Top Sector Gainers

Sector	Gain	Related News
Coal	+4.91%	European Coal Reaches One-Month High as Russia Supply Curbs Bite Yancoal Australia Ltd (3668 HK)
Accessories & Leather Goods	+2.45%	Louis Vuitton, Dior sales jump, defying war and China gloom Prada S.p.A. (1913 HK)
Nonferrous Metal	+2.29%	US inflation quickens to 8.5%, ratcheting up pressure on Fed China Hongqiao Group Ltd (1378 HK)

Top Sector Losers

Sector	Loss	Related News
Biotechnology	-1.90%	Shanghai lockdown tests limits of China’s dynamic zero Covid-19 policy Genscript Biotech Corp (1548 HK)
Infrastructure	-1.05%	China steps up stimulus with infrastructure bond sales quota Metallurgical Corp of China Ltd (1618 HK)
Semiconductors	-0.88%	India’s semiconductor pursuit gets a strong push Hua Hong Semiconductor Ltd (1347 HK)

Zhaojin Mining Industry Company Ltd (1818 HK) and Zijin Mining Group Company Ltd (2899 HK) shares rose 11.1% and 8.0% yesterday. Gold edged up above $1,970 an ounce on Wednesday, hovering near its highest levels in a month, amid concerns of an escalation in the Ukraine conflict after Putin described the on-and-off peace negotiations as “a dead-end situation,” while Biden said Russia’s war in Ukraine amounted to genocide. The metal also benefited as a hedge against inflation after latest data showed the US annual inflation rate rose 8.5% in March, accelerating at its fastest pace since December 1981.
Inner Mongolia Yitai Coal Company Ltd (3948 HK) and China Coal Energy Company Ltd (1898 HK) shares rose 10.9% and 5.8% respectively yesterday. Newcastle coal futures, the benchmark for top consuming region Asia, consolidated above the $300-per-tonne mark after the European Union announced a ban on Russian coal imports from August onwards. Markets were already tight even before the Russian invasion of Ukraine as the energy crisis and soaring natural gas prices in Europe and Asia in late 2021 boosted coal use for power generation.
China Molybdenum Company Limited (3993 HK) shares rose 7.7% yesterday. On April 12, the WeChat official account of CMOC said that in the first quarter, the copper output of the TFM copper-cobalt mine in Congo (DRC) achieved 103% of the plan, and the cobalt output achieved 110% of the plan. CMOC said that in 2022, TFM plans to produce 227,000-267,000 tons of copper and 17,500-20,500 tons of cobalt. After completion in 2023, TFM will add more than 200,000 tons/year of copper metal and 17,000 tons/year of cobalt metal.

^ Back To Top