Government of Norway suggested to increase control over its sovereign wealth fund after its size exceeded the country’s economy by more than twice, Bloomberg reports. It shall be noted that fund was created two decades ago.
According to Bloomberg, US futures gained, stocks in Europe fell, while Asian equities showed mixed results. US Treasuries yield is stable at 3,18%. Bloomberg Dollar Spot Index fell by 0,1%. S&P 500 gained 0,3%.
Slightly widening of Poland’s budget will not result in country’s credit rating downgrade, Bloomberg reports with the reference to S&P Global Ratings.
Volkswagen is planning to repeat last year's record in regards to sales of Porsche brand this year as well, Reuters reports.
Sales of Porsche were 196562 cars in first nine months of this year. Sales growth in Europe reached 9%, while in China, which is the largest market in the world, they grew by 4%.
Japanese Nikkei finished this week with pessimistic mood following after US and Europe's markets decrease, Reuters reports. It shall be noted that this index of Japan's stocks have been showing third week of declines.
Growth pace for Chinese economy was slower than expected in the third quarter, Bloomberg reports.
Gross domestic product increased by 6,5% in last three months compared with previous year. This is lower than 6,6% showed by Bloomberg's survey, as well as 6,7% demonstrated last quarter. Besides, this is the lowest growth since 2009.
Tesla Inc signed an agreement with the government of Shanghai in regards to the plot of land to be used for construction of first foreign Gigafactory, Reuters reports.
This agreement is another step towards creating production in China, which is a fast growing market.
According to Bloomberg, US shares fell, while US Treasuries yield grew to seven-years high again. It is 3,21% today. Dollar is stable.
Index S&P 500 lost 0,4% and can open lower. Stoxx Europe 600 grew amid positive news about corporate earnings. FTSE 100 in the UK fell by 0,1%, while DAX in Germany gained 0,1%.
Producers of luxury goods are in panic, as they are afraid that the demand on Western goods on behalf of Chinese buyers arriving to Europe to buy Louis Vuitton bag might fall, Bloomberg reports.
It shall be noted that about one third of Chinese consumers’ purchases of luxury brands is made abroad.
In August UK’s house prices were growing with the slowest pace in five years, as approaching Brexit scares away buyers, Bloomberg reports.
Consequences of turbulence in Turkish markets will be obvious this year, when earnings reports season will star next week, Bloomberg assumes. Analytics think that a new row of bad news for country’s economy will start along with these reports.
Oil is traded at price close to the lowest in a month after US inventories grew more than was expected, and this influenced the market more than rising tension in relations between the US and Saudi Arabia, Bloomberg reports.
