It’s another big week ahead. EU Elections will get the markets going early on Monday. Trade war chatter and UK politics and stats will also be in focus.
Karan Bilimoria, the Indian entrepreneur and founder of Cobra Beer, has emerged as the leading contender to take over as the next president of Britain’s largest business association. The CBI confirmed on Sunday that Lord Bilimoria, a crossbench peer, would stand for election as the organisation’s vice-president at its annual meeting on June 18, taking over from the outgoing Paul Drechsler. If confirmed, Lord Bilimoria’s election will put him in line to take over from John Allan, the CBI’s current president, when his two-year term ends next summer.
Geopolitics, trade and a string of weak economic indicators provided direction in the week.
United Kingdom's Prime Minister Theresa May gave a tearful speech after announcing she will be stepping down as leader of the Conservative party on June 7th. Former Margaret Thatcher's aide and Director at the Heritage Foundation Nile Gardiner says her replacement may be a harder Brexiteer and foster closer relations with the U.S. He joins Yahoo Finance's Seana Smith.
The FTSE 100 added 0.7% and the midcap index rose 0.5%, slightly off its opening levels, as traders and investors said the market had already priced in May's move when rumours first started circulating. Housebuilders, considered prone to any hit to the economy from a chaotic "no-deal" departure from the European Union, barely budged after May's speech. Housebuilders, retailers, domestic banks and other Brexit-sensitive stocks fell sharply earlier this week when pressure grew on May and investors grappled with the likelihood of Boris Johnson, who wants a tougher divorce deal, as her successor.
The market appeared unfazed by British Prime Minister Theresa May's resignation as Conservative party leader after failing in a final attempt to win parliamentary support for her divorce deal with the European Union. The pan-European STOXX 600 ended up 0.56% but posted a weekly loss and remained on track for its first monthly decline since a steep sell-off at the end of last year. Trump said late on Thursday that U.S. complaints against Huawei Technologies could be resolved within the broader trade framework, though no high-level bilateral talks have been scheduled yet.
After three failed attempts to sign a Brexit deal, Theresa May has announced that she will be stepping down as British Prime Minister. May said, "It is in the best interests of the country" for someone else to lead the Brexit negotiations. Yahoo Finance's Alexis Christoforous and Brian Sozzi discuss May's resignation with Yahoo UK's Stuart Henderson.
Equities rebound on comments from Trump, he says the trade war may end soon but China’s posturing doesn’t support the claim.
Global stocks steadied overnight, with Wall Street set for a modest opening bell gain, although investors remain nervous over slowing growth and protracted trade tensions. Wall Street futures suggest solid opening bell gains ahead of earnings from Foot Locker and April durable goods orders at 8:30 eastern time.
World stocks edged higher on Friday and oil prices bounced after comments by President Donald Trump encouraged hopes of progress in U.S.-China trade talks while British Prime Minister Theresa May's resignation briefly sent sterling fluctuating wildly. The index gained 0.2% on Friday following the overnight comments from Trump, who said issues with China's Huawei Technologies Co Ltd might be resolved within the framework of a broader trade deal. China mainland blue chips and Hong Kong stocks climbed around 0.3% while Japan's Nikkei fell 0.2%.
European shares recovered some ground on Friday after a bruising session a day earlier, as U.S. President Donald Trump predicted a swift end to the ongoing trade war with China that has dominated trade on financial markets over the past year. The pan-European STOXX 600 was up 0.5% by 0707 GMT but remained on track to post a weekly loss and its first monthly decline since a sell-off at the end of last year that knocked 15% off the index. Addressing the latest flashpoint, Trump said late on Thursday that U.S. complaints against Huawei Technologies could be resolved within the U.S.-China trade deal framework, however no high-level talks between the two countries have been scheduled as yet.
President Donald Trump predicts a swift end to the ongoing trade tensions. Prime Minister Theresa May announces she will resign as party leader on June 7. European stocks traded higher on Friday, with investors returning to risk assets as fears over the United States - China trade battle receded.
By Geoffrey Smith
After a day of heavy losses, the futures are pointing to a positive open. Holding onto any gains could prove to be a challenge, however.
The pan-European STOXX 600 index closed 1.4% lower, with Germany's traditionally trade-sensitive DAX down 1.8%, while Italian shares slumped more than 2%. As investors worried the U.S.-China trade feud was fast turning into a technology-focused cold war, the latest evidence of its impact on growth came from Germany. A survey on Thursday showed business morale in Germany deteriorated more than expected in May as confidence in the services sector worsened, suggesting Europe's largest economy is losing steam.
As the pound fell, the FTSE 250 lost 1.4% to hit its lowest point since March 29, when Britain was originally scheduled to exit the European Union. Dublin's main index, often regarded as a barometer of Brexit jitters, was also down nearly 1.4%. The turmoil was compounded when prominent Brexit supporter and Leader of the House of Commons, Andrea Leadsom, resigned from the government.
Global equities fall as trade tensions mount.
FT subscribers can click here to receive Market Forces every day by email. Trade-sensitive sectors, or those with complex global supply chains, are feeling the heat as the sun shines brightly in London today.
European shares fell sharply on Thursday, as investors grappled with the latest round of U.S.-China trade friction while British Prime Minister Theresa May faced growing pressure to resign. European auto and mining sector indexes shed 2.80% and 1.04% respectively.
The pan-European Stoxx 600 was down by more than 1% in mid-morning deals with almost every sector in the red. Auto stocks led the losses, down by nearly 3%. This comes after renewed concerns over the trade relationship between the U.S. and China.
By Geoffrey Smith
The futures are pointing to an edgy start with a mass of stats, EU elections and trade war chatter to drive the majors on the day.
Target reports 1st-quarter results
The main index, whose companies earn more than two-thirds of their profit from abroad, ended 0.1% higher, while the more domestically-focused FTSE 250 slipped 0.7%. A slump in sterling lifted internationally-exposed companies GlaxoSmithKline, Unilever and AstraZeneca, the biggest boosts to the FTSE 100. Stocks most sensitive to the any increased risk of a hard Brexit stumbled after multiple media reported rumours May's ministers could oust her in a row over her latest deal to exit the European Union.
Asian stocks struggled for traction on Wednesday, as relief over Washington's temporary relaxation of curbs against China's Huawei Technologies failed to offset deeper worries about an intensifying trade war between the world's two largest economies. In opening European trade, the pan-region Euro Stoxx 50 futures were down 0.03%, Germany's DAX futures were up 0.01% and Britain's FTSE futures were up 0.28%. Japan's Nikkei added 0.1%.
By Geoffrey Smith
The European majors continue to be gripped by the U.S – China trade war. The U.S may need to take a softer stance yet for China to resume talks…
Stock markets gained on Tuesday, with chipmakers and companies exposed to Asia among the best performers, after Washington temporarily eased trade restrictions imposed last week on China's Huawei. In Europe, the broader Euro STOXX 600 climbed 0.6%, extending gains earlier in the trading session, with Germany's DAX rising 1.1%, while France's CAC 40 added 0.6%. At the close, China's Shanghai Composite index was up 1.23%, while the blue-chip CSI300 index ended 1.35% higher.
Investing.com -- These are the top 5 things you need to know in financial markets on Tuesday, May 21.
By Geoffrey Smith
The futures are flashing green early in the day, in spite of a mixed Asian session. A lack of chatter on trade could prove to be positive.
Apple and Intel dragged the Dow Jones, chips weighed broadly on the stock market Monday, as U.S. action against China's Huawei took hold.
U.S. and European chipmakers fell sharply on Monday amid worries the Huawei Technologies suppliers may suspend shipments to the Chinese firm due to a U.S. crackdown. The selling came after Nikkei Asian Review reported that Infineon had halted shipments to Huawei after Washington added the world's No. 2 smartphone maker to a trade blacklist last week, imposing restrictions that will make it difficult to do business with U.S. companies. Reuters reported that Alphabet Inc's Google had suspended some business with Huawei and Lumentum Holdings Inc, seen as a major supplier of Apple Inc's face ID technology, said it had discontinued all shipments to Huawei.
Investors already on edge about an escalating U.S.-China trade dispute were further rattled after Beijing accused Washington of harbouring "extravagant expectations" for a trade deal, underlining the gulf between the two sides. Asian shares had managed to reverse some of last week's losses on Monday after Washington said it would lift tariffs in North America, and as investors cheered apparent wins by Conservative incumbent parties in elections in Australia and India. U.S. President Donald Trump's government added Huawei to a trade blacklist last week, imposing restrictions that will make it difficult to do business with U.S. companies.
By Geoffrey Smith
A quiet day on the economic calendar leaves the Oval Office as the main area of focus. What’s the next move in the U.S – China trade war?
Stocks fell broadly on Wall Street Friday as investor jitters over the heated trade war between the world's two biggest economies overshadowed encouraging developments in conflicts between the U.S. and other key trading partners.
U.S. President Donald Trump's bid to blacklist Huawei has further intensified trade tensions, while the Chinese ruling Communist Party's newspaper has insisted the trade war will only make China stronger. The morning's biggest loser was British tour operator Thomas Cook, which saw its shares plummet 30% by mid-morning, hitting their lowest since July 2012 and on track for the biggest one-day drop since November 2011. European stocks traded lower Friday as trade fears ratcheted up, amid the U.S. administration's bid to blacklist Chinese telecoms giant Huawei and the ruling Chinese Communist Party's newspaper striking a defiant tone.
The Eurozone’s trade surplus widened from €17.9bn to €22.5bn in March. Imports increased by 4.8% over the same period, leading to a narrowing of the trade surplus from €46.5bn to €43.5bn in Q1. Finalized inflation figures out of Italy had a muted impact, with the finalized numbers being in line with prelim.
Flowers Foods advances on strong earnings
LONDON (AP) — Stocks recovered their poise Thursday after dropping over President Donald Trump's decision to limit U.S. exports to foreign telecoms companies, an order that appeared aimed squarely at China.
Trump saved the day for the European majors on Wednesday. There’s a lot now riding on a resolution to trade disputes…
European markets are expected to open broadly higher on Wednesday with investors appearing to brush off escalating trade tensions between the U.S. and China.
European stocks are set to open lower Tuesday morning after the Trump administration decided to impose 10 percent tariffs on $200 billion worth of Chinese imports.
European stocks are set to open lower Monday morning, amid renewed fears over an escalating trade war between the world's two largest economies.
European stocks are set to open higher Friday morning, after an expectedly sharp interest rate hike in crisis-hit Turkey supported the lira and global risk appetite.
Equity indices across Europe are expected to open lower on Thursday morning ahead of several central bank meetings.
Bourses in Europe are set to open mixed Wednesday morning, as investor sentiment is dented by new tensions between the U.S. and China surrounding trade.
Markets in Europe are poised to start Tuesday's trading on a higher note, continuing the positive momentum seen in other global markets.
Shares in Europe are poised to start the week on a lower footing amid ongoing concerns over global trade.
European shares are expected to open slightly higher on Friday morning, but investors remain cautious amid new trade threats.
Stocks in Europe are set to open slightly lower on Thursday amid ongoing concerns over emerging markets and potential new U.S. tariffs on China.
European stocks are set to open lower Wednesday morning, as renewed fears over international trade conflicts limited investor appetite for riskier assets.
European stocks are set to open lower Wednesday morning, after emergency austerity measures in Argentina underscored the recent turbulence in emerging markets.
European stocks are set to open slightly lower Monday morning, amid heightened concerns of an escalating trade war between the world's two largest economies.
European stocks are set to open lower Friday morning, amid heightened fears of an escalating global trade war between the world's two largest economies.
European stocks are set to open slightly lower Thursday morning, as investors continue to monitor global trade talks.
European stocks are set to open slightly higher Wednesday morning, as investors continue to monitor global trade developments.
European stocks are set to open higher Tuesday morning, with risk appetite boosted by news of an agreement between the U.S. and Mexico to overhaul the North American Free Trade Agreement (NAFTA).
European stocks seen mixed ahead of a key speech by Jerome Powell, the chair of the U.S. Federal Reserve.
Stocks in Europe are expected to open lower Thursday morning after Beijing implemented new retaliatory tariffs against the United States.
European stocks are set to open lower Wednesday morning, as investors continue to monitor trade talks between the world's two largest economies.
European stocks are set to open lower Tuesday morning, as comments from President Donald Trump weigh on the dollar and test market optimism ahead of U.S.-China trade talks.
European stocks are set to open mixed Monday morning, with investors awaiting the outcome of trade talks between the world's two largest economies later this week.
European stocks are set to open slightly lower Friday morning, after news the U.S. and China have agreed to hold their first trade talks since June next week.
Bourses in Europe are expected to open higher Thursday morning following news that China has accepted an invitation from the United States to talk trade in late August.
The pay of FTSE 100 bosses surged 11 percent in the past year, pushing their median pay up to nearly £4 million ($5.1 million), according to a report which also found full-time employees received a 2 percent rise over the same period.
Shares in Europe are expected to start Wednesday's trading a touch higher as concerns over the Turkish currency crisis continue to affect investors' appetite.
European stocks are expected to open in the black Tuesday morning as concerns over Turkey's economic woes eased.
European stocks are set to open lower Monday morning, as investors monitored renewed trade tensions and a deeper slide in the Turkish lira.
European stocks are set for a mixed open Thursday morning amid a deepening U.S.-China trade dispute and a flurry of corporate earnings.
European futures traded mixed in premarket trade Wednesday, amid investors keeping a close eye on Brexit developments and corporate earnings.
European futures traded slightly higher in premarket trade Tuesday, as investors kept a close eye on trade tension and earnings.
European stocks are set to open higher Monday morning, amid a backdrop of renewed trade tensions.
Stocks in Europe are set to begin Friday's trade higher by a comfortable margin.
European markets are set for a negative open Thursday morning, while the Bank of England is expected to raise interest rates despite uncertainty over what Brexit could mean for the U.K. economy.
European bourses are set to begin trade on Wednesday in negative territory.
Major European bourses are set to open in the red by a slim margin on Tuesday ahead of a slew of data and corporate releases.
European markets are set to begin the week on the back foot, with all major bourses expected to open in the red.
European markets are expected to begin Monday’s session on a negative note, mimicking weaker trading in markets overseas.
Shares in Europe are poised to open lower Friday following remarks from President Donald Trump about the Federal Reserve.
European shares are set to start Thursday’s trading session on a mixed note, as investors await further corporate results and digest political events.
European shares are set for a strong open on Wednesday carrying on the positive sentiment that kickstarted on Wall Street.
Stocks in Europe are poised for a mixed open Tuesday as investors await further corporate results and remarks by Federal Reserve Chairman Jerome Powell.
European shares are expected to open mostly higher Monday as investors focus on earnings and monitor an upcoming meeting between the United States and Russia.
European stocks are set to open higher Friday morning, tracking overnight gains on Wall Street amid elevated expectations of strong U.S. earnings.
European stocks are set to open higher Thursday morning, as markets consolidated steep losses from the previous session when heightened fears of an escalation to the U.S.-Sino trade war soured investor sentiment.
European shares are poised for a lower open Wednesday morning after U.S. authorities unveiled a new list of Chinese products that could see new tariffs.
Markets in Europe are poised to start Tuesday’s trade on a higher note as investors focus on upcoming corporate earnings and put trade and political tensions aside.
European equities are expected to start the trading day higher as investors monitor developments on trade and react to news that the U.K.’s chief Brexit negotiator has resigned from his post.
European stocks are set to open lower Thursday morning, with market players in a state of anxious uncertainty ahead of a U.S. deadline to impose tariffs on Chinese products.
European stocks are set to open mixed Wednesday morning, amid elevated tensions between the U.S. and China over looming trade tariffs and investment restrictions.