UK's producers benefit from weakening pound
August 21, 2018 - 13:59
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UK manufacturers continue benefiting from weakening pound, Bloomberg reports.
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UK manufacturers continue benefiting from weakening pound, Bloomberg reports.
According to Bloomberg, dollar fell together with US Treasuries after President Trump criticized rates hikes by US Fed. Bloomberg Dollar Spot Index lost 0,2%. US Treasuries yield is 2,84%. Euro gained 0,3% and costs $1,1521.
Sovereign investment fund of Norway having $1 trillion of assets is experiencing problems applying its global investing model, Bloomberg reports.
The largest sovereign wealth fund in the world gained 1,8% or $20 billion in a quarter. Stocks grew 2,7%, bonds haven’t changed, while real estate gained 1,9%.
PepsiCo will buy SodaStream manufacturing machines for producing sparkling water at home for $3,2 billion. This deal is one more step in competition with Coca-Cola for healthy drinks market.
SodaStream, based in Israel, is getting more popular among young generation that wants to drink less soda and limit use of plastic bottles.
Oil is traded at price close to $67 per barrel as investors evaluate perspectives for reduction in US inventories along with US government plans to release oil reserves, Bloomberg reports.
Economists express quite pessimistic opinion in regards to current economic policy of US President administration viewing that short-term benefits from tax cuts will be eliminated by influence of new tariffs, Bloomberg reports.
According to experts of BNP Paribas Asset Management, earnings of companies listed in India stock market that shows best results among Asian markets this year might get back to record levels of 2006, Bloomberg reports.
According to Bloomberg, US equity futures and European shares are growing today together with Asian markets, as traders hope for easing in trade tensions. Investors will also be closely watching after meeting of financial leaders in Jackson Hole this week.
On Sunday Iran announced that OPEC shall not allow any member of group to substitute output of other members, Reuters reports. This announcement was made amid concerns that Saudi Arabia may raise production ahead of US sanctions against Iran.
Significant decline in stocks of Chinese IT-giants and recent weakening of half of FANG group makes investors worry that there is no enough fuel for further growth of Wall Street’s key sector, Reuters writes.
When market conditions are not working very well for European shares, they can hope for weaker euro, since in this case European companies operating globally become more competitive, Bloomberg writes.
Platinum price reached ten year low level. Collapse in Turkey hit other markets, and as a result weakend currency of leading platinum producer, South Africa, Reuters reports. Key factor of price fall is however persistent surplus of metal's supply over demand.
