Turmoil at emerging markets from financial crisis in Turkey to trade war in China affect metals markets, Bloomberg reports.
On Wednesday basic metals markets show another decline. Most metals lost at least 2% of their value in London today. Even gold, which always was a safe heaven, is falling. It lost 0,7%.
According to Bloomberg, futures of US equities fell together with indexes in Europe and Asia as investors' risk appetite has been tested for recent crisis in Turkey. S&P 500 Index lost 0,2%. US Treasuries grew toghether with dollar. Their yield is 2,88%. Bloomberg Dollar Spot Index gained 0,1%.
In June prices for new houses in China grew with the fastest pace in 22 months, Bloomberg reports. They gained 1,2% compared with previous month. Evaluation was made based on data from 70 cities in the country.
On Wednesday Turkey announced that it will raise tariffs on certain goods from the US, escalating conflict that already led to economic crisis in the country, Bloomberg reports.
Ankara is going to set additional tariffs on import of such products as rice, vehicles, alcohol, coal and cosmetics.
Oil price has been falling three days in a row after report showed inventory increase in the US, and OPEC’s member Libya raises production, Bloomberg reports.
Futures in New York fell 0,8%. US inventories grew last week by 3,66 million barrels, although Bloomberg forecasted decline by 2,5 million barrels.
Credit Suisse Group AG will divide its international wealth management division into seven regions instead of four existing today, Bloomberg reports. Each region will get more autonomy for decision making. Seven regions will include Latin America, Brazil, Western Europe, Southern Europe, Middle East and Central and Eastern Europe.
It looks like German economy has both feet on the floor after weak beginning of the year, Bloomberg reports.
Second quarter growth was 0,5%, which is higher than forecast of economists. It is also a sign of stable development in Europe’s largest economy despite of global trade tension. High domestic demand supports this growth.
According to Bloomberg, European shares are rising today after most indexes in Asia, as world markets stabilized after relative calm in Turkey. All-Country World MSCI index grew by 0,2%.
Dollar fell from highest level in 14 months together with US Treasuries. Bloomberg Dollar Spot Index lost 0,2%. American bonds yield is 2,90%.
Vienne took first place as most livable city in the world, taking this title away from Melbourne that stayed at top for seven years, Bloomberg reports with reference to Economist Intelligence Unit.
Bitcoin fell below $6000 along with other smaller cryptocurrencies amid selloff that it observed this month, Bloomberg reports.
Copper price has been falling in London for three trading sessions already, Reuters reports. It happens amid concerns that collapse of Turkish lira will hurt emerging markets. Besides, last data showed that Chinese economy slowed down.
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