As the financial markets continue to experience volatility amidst the ongoing war between Russia and Ukraine, as well as high levels of inflation, here are the most rising and most falling instruments on AvaTrade’s retail trading platform over the past week:
Most Rising
Instrument Previous Week Change (%)
Teva 33.81%
Chevron 13.44%
Saipem 13.01%
Unicredit 12.64%
EWZ 11.37%
Most Falling
Instrument Previous Week Change (%)
Alibaba -11.29%
Intel -7.64%
Vodafone -6.12%
Facebook -5.87%
Adidas -5.74%
“This week saw Teva’s share price increase dramatically to claim first place in our most rising table. It was revealed last week that the Israeli pharmaceutical company’s opioid lawsuit was set to be resolved, with the drugmaker reaching an agreement to pay $3 billion in cash and $1.2 billion in donated overdose-fighting drug Narcan to come to a settlement. This means that the pharmaceutical giant doesn’t admit any liability or wrongdoing,” said Naeem Aslam, Chief Market Analyst, AvaTrade. “Elsewhere, Chevron saw its share price rise by over 13% on the back of strong earnings during the second quarter of the year. The energy giant shattered profit records from April to June as a result of rising energy prices which followed Russia’s invasion of Ukraine. The monstrous earnings seen by American energy supermajors such as Chevron comes as steep fuel costs drive inflation rates to levels not seen in over 40 years across both sides of the Atlantic.”
“Looking at our most falling table shows that this week, Alibaba took top spot. This comes as the US Securities and Exchange Commission (SEC) claimed that the Chinese e-commerce giant is facing a possible delisting from US exchanges, in an attempt to resolve a long-running dispute over the auditing compliance of Chinese companies which are listed on US stock market indexes. It is hoped that the threat leads to US-listed Chinese companies providing the SEC with complete access to audit working papers, which are kept in China. Intel also saw its share price fall this week, coming in at second place on this week’s most falling table. The last quarter was a tough one for the chipmaker, as it missed expectations for the second quarter. The technology giant saw it revenue fall by 17% when compared with its first quarter revenue. In fact, Intel’s poor performance during the last few months has seen the company cut its outlook for the full year,” Mr Aslam added.