There are still many risks for the banking industry in the world, despite of reforms that were implemented since financial crisis ten years ago. This subject was mostly discussed during the meeting of world bankers in Bali this weekedn, Bloomberg reports.
According to Bloomberg, stocks in Asia and Europe have been falling, while US futures will most likely open lower. Rising tension in relations between the US and Saudi Arabia was added to other concerns for investors. Gold, US Treasuries and yen are up.
Suffering from high taxes real estate investors in the UK are looking for cheaper objects in north of England, which assume lower stamp duty as well as higher profitability than properties in other parts of the country, Bloomberg reports. Some investors stopped buying at all.
Higher oil prices will definitely benefit oil companies, however, as third quarter earnings season is getting close, there are some sectors that can suffer from higher energy costs, Bloomberg reports.
Sears Holdings Corp., retail chain with 125-years history applied for bankruptcy filings after it tried to handle large debt and reducing flow of shoppers for many years, Bloomberg reports.
Oil price grew above $72 per barrel level after Saudi Arabia announced that it will take countermeasures, if any sanctions will be applied in regards to disappeared Saudi journalists, Bloomberg reports.
Futures in New York gained 1,9% after showing biggest weekly losses since May of this year.
Chinese market was for a long time the key driver for global growth of auto producers, however, this time most likely comes to an end, Bloomberg reports.
According to Bloomberg, stocks are recovering on Friday among good news on Chinese trade. Dollar is steady, while US Treasuries yield grew to 3,17%.
International Energy Agency reduced estimates for oil demand next year due to growing threat to global economy, however, it warns that prices will stay high due to supply constraints, Bloomberg reports.
Export from China showed high growth in September, Bloomberg reports. It indicates that produces are trying to speed up deliveries to avoid new US tariffs. This will not last long, Bloomberg experts think.
The largest growth in sugar price in a decade did not make investors change their opinion on the worst commodity in recent years, Bloomberg reports.
Price gains were caused by strengthening currency in Brazil, which is the leading commodity producer. However, investors do not expect further increase.
Gold market is finally reviving. As Bloomberg reports, on Thursday metal price showed the highest gain since June 2016, when the UK voted for exit from European Union. Investors needed to see too big equity market slump to turn their attention to this safe heaven asset again.
