Market Overview

11 April 2019 09:16

Maria Gregoriou

The International Energy Agency (IEA) has announced that global oil markets are tightening as OPEC supply falls. Economic threats, as cautioned by the central banks, could also lower demand forecasts. The decline in demand could last until the end of the year, according to Bloomberg, as Saudi Arabia and its partners curb production. Exports from Venezuela and Iran are also tightened due to economic and political crises. “The oil market shows signs of tightening as we move into the second quarter of 2019, but we see mixed signals in terms of the outlook for demand,” said the agency.
11 April 2019 07:35

Maria Gregoriou

The outcome of six hours of talking yesterday in Brussels ended in the European Union allowing the U.K. to stay within the union until October 31. This decision was made in the hope that a messy no-deal will be avoided. British Prime Minister Theresa May is now set to head back to London today to once again outline the conclusion of her meeting. This may be a hard task as she had stated in the past that a delay would not be accepted by a Parliament that is “already losing patience with her leadership,” according to Bloomberg.
10 April 2019 08:04

Maria Gregoriou

The latest market data shows that Hong Kong has overtaken Japan as the world’s third largest stock market as of Tuesday. This leap to the third position – after the U.S. and mainland China - is due to a rebound in Hong Kong stocks after their worst year since 2011. According to Bloomberg “Hong Kong’s market cap was $5.78 trillion as of Tuesday, the latest available data show, compared with $5.76 trillion for Japan. The Asian city’s benchmark Hang Seng Index climbed 17 percent this year through Tuesday when it closed at its highest since June 15. Internet giant Tencent Holdings Ltd.
9 April 2019 07:38

Maria Gregoriou

With the deadline for Brexit fast approaching and Theresa May’s deal rejected by Parliament three times, the way forward now seems to be cross-party talks. Officials began talks yesterday evening and are planned to continue talks today in an attempt to break the Brexit deadlock, according to Downing Street. In a video released last on Sunday night by 10 Downing Street, the Prime Minister explained what is currently happening with Brexit.
29 March 2019 12:10

Maria Gregoriou

The Office of National Statistics released the Gross Domestic Product (GDP) quarterly estimate for the UK from October to December 2018 this morning. According to the report, GDP was estimated to have increased by 0.2 percent over the fourth quarter. This growth has been shown to be driven by the services sector while “all four sub-sectors of production and construction contributed negatively to GDP growth.
29 March 2019 10:57

Maria Gregoriou

Today would have been the day that Britain left the European Union (EU), but with an extension being granted and Brexit power being seized over by the British parliament, the final leave day seems to be somewhere in our future. For these reasons the fate of Brexit is still uncertain, and the Pound exchange is taking a hit. After MPs rejected eight possible Brexit solutions yesterday, the Pound fell heavily, and things worsened after the government announced that another vote is planned to take place today.
28 March 2019 09:31

Maria Gregoriou

All eyes were on the British parliament in London last night, as MPs voted on eight different Brexit Options, all of which were rejected. The one vote that was closer to a yes was that of a proposal to keep the U.K. in a customs union with the EU. The vote came to 272 against 264. This could be the starting point for further negotiations between lawmakers, who will return to parliament again on Monday for another round of votes.
26 March 2019 10:54

Maria Gregoriou

The German market research institute, GfK, revealed that the consumer climate in Germany for March 2019 was “somewhat more balanced than in the previous month.” Even though this is the case, the study showed that income expectations and tendency to buy have seen a drop. The figure predicted by GfK for April has now been re-evaluated, and show a consumer climate value of 10.4, compared to the previous forecast in March of 10.7 points. As a result, the indicator’s positive start to 2019 has taken its first setback. The tendency to buy has seen a decrease of 3.
26 March 2019 08:23

Maria Gregoriou

Last night the U.K. Parliament voted to take control of the Brexit process as a means to find a way out of the current deadlock the country finds itself in after Theresa May’s Brexit deal was rejected by parliament twice. A series of votes on alternative strategies are now to be scheduled. These votes could circle around the options of a potential second referendum and the chance to give the British people the opportunity to decide, once more, if they should leave or stay within the European Union, the option for the U.K.
22 March 2019 11:22

Maria Gregoriou

Today the Euro lost significant ground after the latest Purchasing Managers’ Index (PMI) data was released from IHS Markit. The results show that economic activity is needed in two major European economies, that of France and Germany, and also in the Eurozone in general.  With regard to the French economy, the PMI for the industrial sector registered a value of 49.8 opposed to the anticipated  51 figure or above. Concerning the services sector, PMI also fell below expectations, registering at 48.7, which is below the forecast number of 50.6.
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