US Fed raised interest rates on Wednesday and kept unchanged its plan on gradual tightening of monetary policy, as it expects US economy to grow at least three more years, Reuters reports.
After South Korea became first major consumer of Iranian oil that decided to reduce import from this country to zero, the largest refiner started looking for alternative suppliers. And it was found…in the US, Bloomberg reports.
For some emerging markets funds, current suppressed price of Asian assets is still not low enough, Bloomberg writes.
Managers of portfolios are not in a hurry to spend money on increasing exposure to fast-growing regions. Instead they are expecting further weakening amid trade war between the US and China and strengthening dollar.
According to Bloomberg, European shares fluctuate, while Asian stocks are rising along with US futures as markets are waiting for decision from US Fed.
Deutsche Bank considers theoretical scenario of merger with UBS, Reuters reports with the reference to German edition Handelsblatt.
This scenario, as well as potential merger with Commerzbank, was discussed during last strategic meeting of the bank.
Luxury houses market in Canada split into West and East, Bloomberg writes.
In Toronto sales of houses costing C$1 million and more grew by 19% in July and August compared with 2017, despite of slowing down in the beginning of this year. For transactions higher than C$4 million, the increase was even higher – 34%.
In September the level of consumer confidence in the US unexpectedly rose to the highest in 18 years, Bloomberg reports referencing to Conference Board.
Measured index was 138,4, while estimate was 132,1, and value of index in August was 134,7. Previous record level of 144,7 was reached in 2000.
Profitability of family offices last year was 15,5%, which is higher than 7% in 2016 and 0,3% a year earlier, Bloomberg reports referencing to UBS Group AG and Campden Wealth. Offices in Asia are leaders: their return was 16,4% in 2017.
US housing market has stalled, and home builders are feeling that, Bloomberg reports.
S&P Supercomposite Homebuilding Index fell by 21% this year, and this is the biggest decline since 2008 when it lost 32%. It shall be noted that such situation is observed despite of tax reduction and the lowest unemployment level since 1969.
Shares in Europe are growing after mixed session in Asia. Index Stoxx Europe 600 gained 0,3% after slow start. British FTSE is up 0,2%. German DAX rose by 0,1%. Euro gained 0,2% to $1,1766. British pound increased by 0,3% to $1,3158.
Handbag maker Michael Kors Holdings Ltd. is close to reach agreement on purchase of Gianni Versace SpA, Bloomberg reports. Michael Kors may announce a deal valued $2 billion this week. Shares of the company fell the most since May.
Copper prices have been falling for two days in London and lost more than 2% already amid new escalation of trade conflict between Washington and Beijing, which may influence industrial metals demand in China, Reuters reports.
