Wall Street ຕີລາຄາສູງສຸດ ໃໝ່ ກ່ຽວກັບຄວາມຫວັງຂອງການຄ້າ - ຍ້ອນມັນໄດ້ເກີດຂື້ນ

Over here, stock markets are also trading higher, although they are off their highs. Sentiment has been lifted by optimism that a US-China trade deal is still in the offing.

Ding Dong: The Dow Jones and Nasdaq have hit new record highs. The Dow opened almost 36 points, or 0.13% higher, at 28,072.10, while the Nasdaq advanced 27 points, or 0.32%, to 8,577.07.

The figures will help dispel any recession fears. The US housing market has perked up in recent months, after the Federal Reserve cut interest rates three times.

Fears that the US economy could slide into recession have receded in recent months as trade tensions with China have eased. There are hopes that a preliminary trade deal can be agreed soon between the world’s two biggest economies.

The latest US housing data are out, and they are strong. Housebuilding rebounded in October and the number of permits for future home construction jumped 5% to 1.46m, the highest level since May 2007.

The number of homes on which construction started rose 3.8% to 1.31m last month, according to the US Commerce Department.

Indian-owned Tata Steel, the owner of the Port Talbot steelworks, plans to cut 3,000 jobs across Europe – but unions in Britain and the Netherlands have vowed to fight the plans.

Tata announced the cuts late last night as the steel industry struggles with weak demand and high costs. In June, competition authorities blocked a joint venture with Germany’s Thyssenkrupp.

There is no justification whatsoever to cut over 1,500 jobs here, and it will be impossible to find any kind of compromise over that.

This is terrible news for Tata Steel workers, made all the worse coming just before Christmas.

This Conservative government has failed to support our manufacturing industry and people are paying for that failure with their livelihoods. It speaks volumes that the business secretary Andrea Leadsom cancelled a meeting with the steel industry only last month. They just don’t care.

Here is a quick round-up of today’s corporate news. An independent report by a law firm into TSB’s IT meltdown in 2018 has found the bank’s board lacked “common sense” and shifted customers to a new IT platform before it had been fully tested.

ທີ່ກ່ຽວຂ້ອງ: TSB lacked common sense in run-up to IT meltdown, says report

ທີ່ກ່ຽວຂ້ອງ: EasyJet to offset carbon emissions from all its flights

ທີ່ກ່ຽວຂ້ອງ: UK poised to approve £4bn US takeover of defence firm Cobham

Here is some reaction to the CBI industrial trends survey, which showed some signs of improvement in manufacturers’ order books in recent weeks, as the risk of a no-deal Brexit faded. Howard Archer, chief economic adviser to the EY Item Club forecasting group, says:

The report does little to inspire confidence that better times lie just around the corner for manufacturing sector. The November CBI survey still largely indicates a manufacturing sector struggling in the face of soft domestic and foreign demand, and hampered by Brexit, domestic political and global economic uncertainties.

The survey indicates that the manufacturing sector could well be a drag on UK GDP in the fourth quarter ... This reinforces our suspicion that GDP growth is likely to be limited to just 0.2% quarter-on-quarter in the fourth quarter.

Aston Martin is gearing up for the launch of its first-ever sports utility vehicle, the DBX, in Beijing tomorrow. It will be manufactured at the British luxury carmaker’s new factory in St Athan in Wales, where more than 300 people are working.

The carmaker said the car had met with a positive reception from customers so far, and it will start delivering it to clients from the second quarter of next year. The DBX costs £158,000, sitting between the Bentley Bentayga and Lamborghini Urus.

Lloyd’s of London, the world’s oldest and biggest insurance market, has launched a #SpeakUp campaign to encourage more people to speak up against unacceptable behaviour.

The organisation, which dates back to 1686, was forced to act after Bloomberg ລາຍງານວ່າ evidence from 18 women of widespread sexual harassment ranging from inappropriate remarks to physical assault.

At Lloyd’s we expect all market participants to act with integrity, be respectful and always speak up. I hope this campaign encourages more people to do so. You will be heard, you will be supported, and we will act, because no matter what form it takes, harassment is never acceptable.

The ambition here is to make a positive difference in many people’s lives, by empowering individuals to act and intervene when they witness unacceptable behaviour. I think everyone has a role to play. Lloyd’s leadership is fully committed to transforming the culture at Lloyd’s with shared values that will shape the behaviours, choices and actions of everyone in the marketplace.

The latest fall in output volumes was mainly driven by motor vehicles and metal products, while mechanical engineering, plastic products and aerospace have fared better and made positive contributions to output. Looking ahead, firms overall anticipate production to be flat in the next three months.

The CBI said growth across the UK economy has been volatile this year as businesses were forced to shift activity in response to moving Brexit deadlines (the first deadline of 29 March was extended to 31 October, which in turn has been extended until 31 January).

We expect the economy to grow modestly in the event of a smooth transition to a new Brexit deal, with the longer-term economic impact dependent upon the details within the final deal.

The survey of 307 manufacturers also found that export orders continued to fall, with the monthly balance at -22%, an improvement from the -41% registered in October.

A gauge of factory output over the past three months was -9%, similar to October’s -10%.

While the thick fog of uncertainty from a No Deal Brexit has lifted somewhat, the manufacturing sector remains under pressure from weak global trade and a subdued domestic economy.

Order books remain below average, and output volumes continue to fall. When taking into account the deteriorating outlook for manufacturing globally, it’s clear that the outlook for the sector remains precarious.

The CBI industrial trends survey is out. It suggests British manufacturers enjoyed a pick-up in orders in November, after hitting a nine-year low the month before, as the risk of a no-deal Brexit receded.

The survey showed 13% of manufacturers reported total order books to be above normal while 40% said they were below normal this month, resulting in a net balance of -26%, up from -37% in October. It remains below the long-run average of -13%.

Goldman Sachs is predicting that the drag on the global economy from the trade war between the US and China – the world’s two biggest economies – will gradually fade next year.

Jan Hatzius and other economists at the US investment bank wrote in a note yesterday that the progress towards a partial trade deal and expectations of an extended truce should benefit the world economy – assuming there is no further escalation of tariffs. The US is due to impose more tariffs on Chinese goods on 15 December, if an agreement is not struck by then.

Traders are buying back into the market despite a lack of progress in the US-China trade talks – but people are clearly hoping for a deal sometime soon.

Comments from China’s central bank governor Yi Gang are also providing a fillip to stock markets. He has just promised to step up credit support to the economy and push real lending rates lower. This comes after the People’s Bank of China cut its short-term funding rate for the first time since 2015 yesterday to prop up the economy.

Chris Beauchamp, chief market analyst at online trading platform IG, has sent us his thoughts on the “bull market” and tonight’s TV clash.

European markets are rallying and US futures are already pointing to solid gains, as risk appetite comes storming back following a mixed session yesterday. It is almost as if this is still a bull market.

Disturbances in Hong Kong have failed to dent the bullish view, and with trade wars still mercifully quiet the indices appear to have taken the bit between their teeth – European indices are surging in impressive fashion, and even the FTSE 100 is powering higher.

The pound, meanwhile, is not doing very much after yesterday’s gains, boosted by the Conservative party’s lead in the polls. Against the dollar, sterling has slipped 0.02% to $1.2952 this morning. Tonight we will get the first TV debate between Boris Johnson and Jeremy Corbyn (8pm GMT on ITV).

The rally on stock markets is gathering pace. The FTSE 100 in London is now 1.08% higher, at 7,386.73, a gain of almost 80 points.

The Dax in Frankfurt has gained 1.23% to 13,368.34. The CAC 40 in Paris is up 0.55% and the FTSE MiB in Milan is 0.78% ahead.

Pierre Veyret, technical analyst at trading platform ActivTrades has looked at the rally in European shares.

European markets are trading significantly higher, led by miners and the travel and leisure sector, despite a mixed trading session in Asia. Global sentiment remains bullish on stocks as investors look for further positive signs from the trade talks. Investors have already priced a trade deal in with many benchmarks around the world now hitting record prices and P/E ratio levels.

This could be a dangerous situation for bull traders if negotiations between Beijing and Washington slow down as many traders have already bought the rumour. Today, investors’ focus will be drawn to both US building permits data as well as the first televised leadership debate in the UK, prior to December’s general election.

Russ Mould, investment director at the UK stockbroker AJ Bell, says the move shows the aviation sector is under real pressure to address its environmental impact.

Regular fliers often fret about their carbon footprint so EasyJet’s move, at a significant but not unmanageable cost of £25m a year, could pay off. Well, at least if it is seen as a genuine strategy and not just window dressing.

The news comes hot on the heels of Wizz Air CEO Jozsef Varadi’s call for a ban on business class – the Hungarian-based outfit styles itself as Europe’s greenest airline.

Easyjet says it will become “world’s first major airline to operate net-zero carbon flights”. From today the airline will offset all of the CO2 emissions from its 329 aircraft by investing £25m pa in renewable projects. 85% of Easyjet’s carbon footprint is from burning jet fuel.

EasyJet claims 7M tons of CO2 can be offset with £25M. That’s £3.50 per ton.

Only direct air capture and geological storage can guarantee to lock up CO2 for the minimum 200 years required. This would cost £350 per ton.

Greenwash ratio: 100:1

ກັບ​ໄປ easyJet’s pledge to become “the world’s first major net zero carbon airline”.

Amazingly, it will only cost £25m to offset carbon emissions from the fuel used for all flights in the year to 30 September 2020. So why are not more airlines doing this?

Carbon offsetting is an interim measure and we will continue the push to reinvent aviation for the long-term, including development of sustainable fuel and electric flying.

Global shares are pushing higher again as traders bet on a trade deal between the US and China. The clock is ticking, though – a preliminary deal needs to be agreed before 15 December, when Washington is due to impose a new round of tariffs on Chinese goods.

The MSCI world equity index, which tracks shares in 47 countries, edged up 0.1% to its highest level since January last year.

EasyJet shares have also gained 4%, to £13.26, despite a 26% drop in pretax profits to £427m for the year to 30 September.

The budget airline carried record passenger numbers but blamed weaker confidence due to Brexit uncertainty for a 1.8% fall in revenue per seat.

I am really thrilled that with the launch before Christmas of our brand new EasyJet Holidays business, we are bringing flexibility and excellent value to the holiday market. We believe there is a gap in the market for a modern, relevant and flexible business for today’s consumer.

Cobham shares rose more than 4% on the news, and are now trading 3.9% higher at 160.8p.

The FTSE 100 index has pushed almost 40 points higher to 7,346.31, a gain of 0.53%. European stock markets are also rising.

There is news on the planned £4bn takeover of the UK defence firm Cobham by the US private equity group Advent. The UK government now suggests that it is minded to allow the deal, after Advent made several legally binding undertakings such as placing a number of British executives on the defence company’s different boards.

Andrea Leadsom, the business minister, put the deal on hold in mid-September and ordered an investigation into whether the sale poses a national security threat. Cobham, based in Dorset, is a world leader producing systems for planes to refuel in mid-air.

European stock markets are up –

ສະບາຍດີຕອນເຊົ້າ, ແລະຍິນດີຕ້ອນຮັບການເຂົ້າມາປົກຄຸມຂອງພວກເຮົາກ່ຽວກັບເສດຖະກິດໂລກ, ຕະຫຼາດການເງິນ, ເອີໂຣໂຊນແລະທຸລະກິດ.

The waiting game continues for the US-China trade deal. Chinese state media described the latest discussions, held by phone over the weekend, as “constructive,” but a report from CNBC suggested yesterday that the mood in Beijing was pessimistic. Doubts have crept in over whether a preliminary deal can be struck, and when.

There are some lingering doubts over whether a phase one deal can be struck. The suspicion is that there’s a lot more wrinkles to iron out than initially thought.

In the middle of next month, the Trump administration will introduce fresh tariffs on roughly $156bn worth of Chinese imports, unless something changes. Some traders are hoping phase one of the overall trade deal will be agreed upon by then so there will be no need to press ahead with new tariffs.

Mr Trump would like more concessions from China in relation to intellectual property rights, but for now he doesn’t want to reverse tariffs, but China are open to the idea of rolling back on the levies. The toing and froing of the trade spat will probably continue up until when the next round of US levies are set to kick in, and then we could see some constructive talks.

ສືບຕໍ່ການອ່ານ ...


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