Briefing 21-06-2022

Macroeconomic worries hit stocks

The prime index of Dhaka Stock Exchange (DSEX) slumped below 6,400-mark Monday, hitting a four-week low, as investors dumped their holdings amid macroeconomic woes. The risk-averse investors went for selling shares from the beginning of the session amid soaring inflation news while worsening flood situation in the country's north-eastern regions hit investors' sentiment. Page 9

Macron loses parliament majority

Less than two months after he was re-elected president, Emmanuel Macron has lost control of the French national assembly following a strong performance by a left alliance and the far right. He had called on voters to deliver a solid majority. But his centrist coalition lost dozens of seats in an election that has left French politics fragmented. The prime minister he had only recently appointed, Elisabeth Borne, said the situation was unprecedented. Page 17

Oil prices stable amid tight supply

Oil prices were stable on Monday, struggling to reverse last week's losses as the market balanced tightening supplies with concerns about slowing global economic growth. Brent crude futures were down 14 cents, or 0.12 per cent, at $112.98 a barrel by 1246 GMT. Front-month prices tumbled 7.3 per cent last week for their first weekly fall in five. Page 19

Toy makers eye greater global mkt share

Local toy industry, which meets the majority of the domestic demand, has a huge potential to boost its global market share provided that the required policy support is ensured. Just a decade back, Bangladesh was largely dependent on imports to meet its demand. But over the years, local toy makers have overcome this dependency. Page 20