Market Overview

17 April 2019 07:51

Maria Gregoriou

As China’s economy has grown at a steady 6.4 percent pace in the first quarter of 2019, compared to last year, the government now has legroom to move as trade negotiations with the U.S. are now at a crucial level. This economic growth goes much farther than the estimated figures that economists predicted. These predictions gave the U.S. leave-way to push for a trade agreement in the past. Speaking about the shift in bargaining power the Practice Head, China and Northeast Asia at Eurasia Group and a former U.S.
16 April 2019 07:25

Maria Gregoriou

The minutes of the Monetary Policy meetings of the Reserve Bank of Australia, released this morning, showed that growth within the domestic environment has slowed in the second half of 2018, compared with the first half. More specifically, the report stated that “GDP had increased by 0.2 percent in the December quarter and by 2.3 percent over the year, which was below the forecasts presented in February.” Growth in consumption had also slowed in the second half of 2018 and dwelling investments fell due to weather-related disruption to resource exports.
12 April 2019 09:42

Maria Gregoriou

As Brexit still seems a long way off, the cost of the Brexit chaos to a number of leading companies in Britain are mounting up. Today is the second date that the U.K. was set to leave the European Union (EU) but, yet again, that did not happen, and the country has been granted an extension until October 31. Many large companies in Britain have spent, and continue to spend, millions of Pounds on planning for Brexit. Most of this spending is due to these companies preparing for the worst, which is a no-deal split.
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.
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