Copper price has been falling two trading sessions already, as intensifying conflict between the US and China raises concerns about demand for industrial metals on behalf of the largest consumer, Reuters reports.
Ten years after collapse of Lehman Brothers and start of global financial crisis, many developed countries are still recovering, Reuters reports. This will become more obvious at the meeting of European Central Bank on Thursday.
President Trump wrote in his Twitter that Apple shall produce its products inside the US, in order to avoid tariffs on Chinese import, Reuters informs.
The company informed on Friday that proposed duties will affect prices on wide range of Apple’s products.
Seven emerging economies are under risk of currency crisis, Bloomberg reports with the reference to Nomura Holdings Inc. These countries include Sri-Lanka, South Africa, Argentina, Pakistan, Egypt, Turkey and Ukraine. Five of them are already in the center of crisis or under program of International Monetary Fund.
Stocks market demonstrates mixed behavior on Monday. European and American shares rose after Asian market fell.
Stoxx Europe 600 index fluctuated at opening, but then increased due to rise in utility and banks. Index gained 0,3%. S&P 500 grew by 0,3% as well. British FTSE 100 gained 0,2% and German DAX 0,1%.
Cryptocurrencies market fell to 10-month low, Bloomberg reports. Ether, the closest rival of Bitcoin, is leading the slump. It lost 9,5% since Friday.
Oil price is rising on Monday after new production in the US stagnated, and the market is expecting US sanctions against Iran, Reuters reports.
WTI oil futures are traded for $68,19 per barrel today, which is 0,65% higher than last closing price. Brent futures also rose by 0,65% to $77,33 per barrel.
Consumer spending and business investments supported euro area's economy in the second quarter, Bloomberg reports. Capital spending added 0,3% to GDP. Total economic growth of the bloc consisting of 19 countries was 0,4%.
British Burberry will not burn its unsold luxury goods anymore to protect its brand, Reuters reports. Earlier the company acknowledged that last year it destroyed $40 million stocks. This step caused critics on behalf of the industry due to rising problem of wastes and environmental effect.
According to Bloomberg, S&P 500 futures fell together with European stocks, as investors wait for new steps in trade conflict between US and China as well as information on wages in the largest economy of the world.
Ahead of new US tariffs against China, UBS AG warns about weakening resistance of American stocks to steps of such type, Bloomberg reports.
Revenues of hotels in Barcelona, capital of Spain’s region Catalonia, fell this summer by 14%, Reuters reports with the reference to trade association. It seems that the city gained negative reputation in the world.
