New trade tariffs take effect. Daily market moving news & events roundup, 2nd September 2019

U.S. - China trade tariffs

Market moving daily news roundup – events & news likely to move markets 2nd September 2019

Company performance, economic and political events but especially market sentiment will always influence market movement, good or bad.


Economic calendar – scheduled news and events 2nd September 2019

Wall Street closed for holiday

Australia – manufacturing PMI data due

China – manufacturing data due

Italy – manufacturing data due: 08:45 BST

France – manufacturing data due: 08:50 BST

Greece – manufacturing data due: 09:00 BST

Germany – manufacturing data due at: 08:55 BST

EU – manufacturing data due: 09:00 BST

UK – manufacturing data due: 09:30 BST

Main news points

New U.S. – China trade tariffs came in to force 1st September 2019. China holds most tariffs until December. Asia markets mixed. Japan’s Nikkei closed down at: 20620. Uncertainty persists in Hong Kong. A report suggests China’s factory activity unexpectedly expanded in August.

Argentina imposes currency controls to support economy as crisis deepens. A Brexit ‘Get ready’ advertising campaign launches today. Sterling continues to slide. FTSE 100 up 60 points at: 11:05 2nd September 2019. Is this a fragile start to a new month – more volatility to come?

UK manufacturing output falls

UK manufacturing output fell at the fastest rate in seven years last month. Brexit uncertainty and the continuing threat of a global economic slowdown are to blame. Is Boris Johnson planning a ‘snap’ election? M&S shares fall today as fears of the company being dropped from the FTSE 100 rise.

Sterling continues its decline today pushed further down by rising concerns that an early election could be called. Quite often is the case that as Sterling falls the FTSE 100 rises – today is no exception. The FTSE 100 closed up at: 7282.

No early election says Johnson

Boris Johnson said in a statement today that Brexit deal chances are rising and that he does not want a general election. He also urged members of parliament not to vote for legislation to block a ‘no-deal’ Brexit.

Stock market indices update, 2nd September 2019

Closing positions of: FTSE 100, DAX, DOW, S&P 500, NASDAQ, NIKKEI & GOLD

Main points update

FTSE 100 – closed at: 7282

DAX – closed at: 11954

DOW – closed for Labour Day

S&P 500 – closed for Labour Day

NASDAQ – closed for Labour Day

NIKKEI – closed at: 20620

GOLD – closed at around: $1,538

Key: Green highlight markets move up. Red highlight markets move down. All values rounded.

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