Market moving news
FTSE 100 up
What’s going on in the markets today? FTSE 100 up at midday to: 7440 Friday adding to the 60 point gain achieved yesterday. Dow dropped back yesterday to close down at: 26891 with futures now pointing to open up around 70 points.
China industrial profits fall
Data released today suggests profits from the country’s industrial firms shrank in August.
The contraction indicated industrial firms are under pressure as domestic demand remains weak and the U.S. – China trade war starts to bite.
Trump inquiry unsettles Asia stocks
Japan stocks fell back in a mixed session across Asian markets amid jitters over the impeachment inquiry into U.S. President Donald Trump.
Japan’s Nikkei index fell 1.3% to closed own at: 21751 while Hong Kong’s Hang Seng closed down at: 25965. Dow futures hold up at around 70 points as at: 12:45 BST Friday.
Sterling
The pound has regained ground against the dollar following comments by Bank of England policymaker Michael Saunders about post Brexit interest rate reductions – but is still trading down.
It was suggested that the Bank of England Bank may cut interest rates even with a Brexit deal. Pound trading against the dollar at $1.23 as at 12:30 BST Friday.
Other news in brief
Thomas Cook update
Some 40% of holiday makers stranded after the collapse of the company have now been repatriated.
Seized tanker leaves Iran
A British flagged oil tanker is reported to have now left Iran, after being held for more than two months.
Peloton IPO slumps
Shares in Peloton, the fitness startup known for at-home workouts and its exercise bikes, slipped off track to close down 11% on their first day of trading.
The New York based company’s shares opened on the Nasdaq at $27.00.
Carrefour sold
Chinese retail giant Suning has reportedly bought 80% of French supermarket chain Carrefour’s China business.
Brexit saga continues
Brexit talks resume amid growing EU pessimism
Market moving events Friday 27th September 2019
Japan – Tokyo consumer price index data released overnight.
Germany – import price index data due at: 07:00 BST.
UK – BoE Saunders speech due at: 08:00 BST.
EU – ECB’s members speech due and business climate data due at: 08:15 & 10:00 BST.
U.S. – whole raft of data due from: personal consumption info’ and durable goods update to personal income and spending data – due from: 13:30 BST to 20:30 BST.
Note
The events listed here carry an event level of amber or red and may therefore have a direct effect on market movements today.
Keep a close eye on these timed events. And for President Trump’s tweets.
Facebook to create VR world called Horizon
Just seen a report that Facebook is creating an immersive environment ‘game’ called Horizon to tempt people into spending more time in virtual reality. Oh dear!
Please someone tell me this isn’t happening, and this from a company that wants to establish a world beating universal digital currency. Oh dear! Oh dear!
Whats next? A virtual bank with virtual money? Actually, come to think of it – that’s not such a bad idea… no not really…please!!
U.S. consumer spending data released
U.S. consumer spending slows in August possibly suggesting that the U.S. economy was slowing after accelerating in Q2. Personal incomes rise however.
What effect did this news have on the Dow futures? So far very little as at 13:30 BST, Friday.
Other UK news
Ex pat’s reported to receive Brexit pension letter update
In a report released today – UK pensioners living in Europe (363,000 of them) – will receive letters confirming that their state pension will rise each year for at least the next three years. But then what?
Ex-pats have expressed concerns about the future of their state pensions in light of a possible no-deal Brexit.
More news updates in brief
Thomas Cook staff to start legal claims over job cuts
Persimmon is leading FTSE 100 risers, with its share price up 4% at £21.49
The biggest loser today, so far, is: Fresnillo, the silver miner – down around 2.8% as of Friday lunchtime.
Bitcoin bashed
Bitcoin suffered this week falling more than 20% over a seven day stretch, touching a daily low of around $7735 on Friday – lowest level since June.
Bitcoin closed at around $8060. Other digital currencies; ether and XRP, were also down on the week.
U.S. markets stumble
U.S. is reportedly considering restricting Chinese companies from U.S. stock exchanges as part of an effort to reduce U.S. investment in China.
U.S. markets fall on the news
Dow closed down at: 26820
S&P closed down at: 2962
Nasdaq closed down at: 7939
UK FTSE 100 closed up
FTSE 100 closed up at: 7426
End