|Day's range||7,399.17 - 7,454.93|
|52-week range||6,536.50 - 7,790.20|
May.29 -- DWS Head of European Equities Britta Weidenbach discusses European markets on "Bloomberg Markets: European Close." This interview is from May 24, 2019. (Corrects to fix title of guest)
Global markets are mixed as geopolitical tensions mounts, Trump prepares to hike tariffs, and the FOMC meeting comes into sharp focus.
Global markets are moving lower with chip stocks and tech in the lead. Weaker than expected data in China weighs on sentiment.
The daughter of one of the founding oligarchs of ENRC, the miner that delisted from the FTSE 100 amid corruption allegations, has been charged by the Serious Fraud Office. The SFO said in a short statement on Friday that Anna Machkevitch was charged in connection with its long-running corruption investigation into ENRC. Ms Machkevitch, 36, is the director of London-based ALM Services UK and the daughter of Alexander Mashkevich, one of ENRC’s trio of founders.
Rolls-Royce has been approached by Spain’s Indra Sistemas about the possible purchase of a majority stake in its Spanish aircraft engine manufacturing business ITP Aero. The FTSE 100 aero-engine group said on Friday it had received a “preliminary and conditional indication of interest” from Indra, a Spanish technology group. Rolls-Royce said on Friday that ITP was a “key partner” and that it “intends to retain a long-term relationship with the business” regardless of any deal that takes place with Indra.
Global equities rebound, snapping a two-day losing streak as the June rally resumes its upward trajectory.
Reckitt has turned outside the group for Kapoor’s successor, the first time it has done so since its formation in 1999 out of Reckitt & Colman and Benckiser. Laxman Narasimhan, chief commercial officer of PepsiCo, will join in July and take over on September 1. By opting for Narasimhan, Reckitt has hedged consumer sector experience (“the dimension that really counts”) with the M&A expertise of an ex-McKinsey consultant.
The global indices are moving higher on trade hopes, FOMC optimism, and a new round of stimulus from China.
FT subscribers can click here to receive Market Forces every day by email. Equity markets are pushing towards a test of their April and early-May peaks. Optimism about a US and China trade deal has faded, with risk assets leaning heavily on the bond market's call for central bank easing in the coming months.
Hargreaves Lansdown shares have shed nearly a fifth of their value this month following the freezing last week of Neil Woodford’s £3.7bn equity income fund to investor withdrawals. Hargreaves, the FTSE 100 platform used by 1.1m retail investors, has been criticised for its support of the Woodford Equity Income fund, which was one of its Wealth 50 list of favourite funds. to tens of thousands of customers affected by the suspension of Mr Woodford’s equity income fund, which the company continued to support until the fund was frozen to investor withdrawals.
UK online supermarket Ocado is investing £17m in developing indoor farms, in a move that could eventually lead to customers picking their own produce. Indoor or “vertical” farms grow produce in stacked layers in purpose-built warehouses and under artificial light. for other supermarket groups — said it ultimately aimed to have vertical farms next to its own delivery warehouses, with a view to delivering fresh produce within an hour of picking.
It’s another action-packed week ahead. Central bank chatter, trade, UK politics, and economic data will keep the markets on their toes.
A shift in FED sentiment towards monetary policy and hopes of progress in trade talks drove the majors in the week.
FOMC rate cut hopes rise, the ECB holds rates steady but the outlook for stimulus grows, and central bankers around the world turn dovish.
The influential 30% Club, which lobbies to get more women into top corporate jobs, has named Mastercard executive vice-chairman Ann Cairns its new chair, as it expands its campaign globally. In addition to working for the international payments company, Ms Cairns also chairs the board of clearing house operator ICE Clear Europe and previously held senior positions at restructuring firm Alvarez & Marsal and Dutch bank ABN Amro. “I think we can take [the campaign] to a whole new level,” said Ms Cairns.
The global indices rebounded in early Tuesday trading after China toned down its trade-war rhetoric.
Brexit uncertainty has hit London’s reputation as the world’s leading global finance centre. Political instability, the possibility of a no-deal exit, and the potential loss of financial passporting rights have all combined to give firms the jitters.