Moody’s rating agency might lower Italy’s rating due to financial plans of new government and risks that previous measures, including pension reforms, will be changed, Bloomberg reports.
Price of Norwegian salmon grew up to record level due to unstable supplies and global demand boom, Bloomberg reports. More healthy food consumers and increase in emerging markets consumption, including Brazil and China, resulted in fish deficit.
As Bloomberg agency reports, shares of largest luggage producer in the world Samsonite International SA, dropped down 13% on Friday in Hong Kong to the lowest level in more than two years.
Global shares went up after North Korea provided well thought answer to US President refusal to meet with the leader of that country. Dollar is stable together with US treasuries, which yield toady is at 2,97%.
Oil continues falling and costs $70,19 a barrel, since OPEC members are discussing eliminating production limits.
Despite of the whole bunch of warnings in regards to emerging markets recently, little is said about largest of them, Bloomberg points out.
Exxon Mobile Corp. management took a firm decision to rescue the company from shares slump, Bloomberg reports. While rivals put restrictions on capital expenditures, Exxon is going to invest about $200 billion over next seven years.
According to new investment plan, the money will be invested into low cost oil and gas mega projects.
Recent actions of Italy’s populist party put Italian banks in the middle of spotlight again, since investors are concerned that years of attempts to strengthen banks’ balance sheets are wasted, Bloomberg informs.
Largest refiner in Asia Sinopec is increasing oil import from the US to record level, since China is making efforts to reduce trade deficit with this country, Reuters reports.
Trading division of Sinopec purchased 16 million barrels of American oil to deliver in June. It is the biggest amount in the history of the company.
Selloff at emerging markets can get worse, and investors shall consider investing into US stocks, reports Bloomberg with reference to Citigroup.
On Thursday Deutsche Bank reported about workforce cut to level much lower than 90000 from current 97000 people, Reuters informs. Reduction in workforce is performed within frame of restructuring that aims at cutting costs and improving profitability.
Concerns over global trade continue put pressure on world markets. Stocks in Europe went up a little bit. Stoxx Europe 600 gained by 0,2%, but returned only part of yesterday’s losses after President Trump initiated investigation in regards to automobile imports into the US. As a result, shares of European auto producers fell sharply.
Due to increase in the US oil stockpiles, price of WTI oil declined, Bloomberg reports. As a result, the difference between price of WTI oil and other world benchmarks now is the largest in more than three years.
