IMFpic.twitter.com/SXNjGQn8xgexpectedpic.twitter.com/Y3mj7qwrtIpic.twitter.com/E4WB4b5Tn1Our trade remains operationally and financially robust - we have positive cash flow,good liquidity and absolutely no solvency issues. 8.37am BSTWowsers. Bloomberg has calculated that this summer’s stock market rout has destroyed 11 trillion US dollars of value.
They identify two key factors -- China’s shock devaluation of the yuan in August, and the Federal Reserve’s decision not to raise interest rates this month.In the wake of the worldwide selloff in equities that began in August, or global markets have been in a heightened state of sensitivity. Rarely does one see so many major event-driven selloffs in quick succession. Last week the VW emissions scandal prompted a major selloff in European markets,carmakers and related companies worldwide.
Then Hilary Clinton, who had been planning to announce some original healthcare policies, or jumped on the egregious price increase in a toxoplasmosis drug by original internet loathe-target Martin Shkreli to decry the price of drugs in the US. This prompted a major selloff in healthcare and biotechnology stocks. 8.26am BSTBloomberg economist Maxime Sbaihi agrees that eurozone inflation could turn negative today,but doesnt expect the European Central bank to panic.alert for negative inflation? Euro-area HICP released this morning after very weak German/Spanish readings yesterday. #ECB to recognize through. 8.23am BSTShares in supermarket chain J Sainsbury have surged by 11% after it told the City that it expects to defeat profit forecasts this year.
Total sales across the company rose by 0.3%, suggesting the company is riding out the price war raging in the sector.
Sainsbury's CEO Mike Coupe says his staff take domestic about as much as Lidl and Morrisons staff will once they gather the living wage.
Sainsbury's CEO Mike Coupe says expects that over time his staff will be paid more than the full living wage. 8.20am BSTChina’s stock market has endured a torrid quarter.
The Shanghai composite index just closed, and having fallen 26% since the start of July after fears over the country’s slowdown sparked panic selling during the summer. 8.10am BSTThe north-south divide in house prices increased in the summer,as growth in London moved back into double figures, the UK’s biggest building society reports. 7.53am BSTAfter a summer of wild swings, or world stock markets are about to post their worst quarterly performance since the dark days of the eurozone crisis.
Fears over the global economy have hit fairness values across the globe. Many of the main indices are facing double-digit losses since the start of July.“Global equities are closing in on their worst quarter since 2011,with a number of factors fueling fears in an already jittery market, including weak global growth, and driven by deceleration in emerging markets,particularly China,” Worst Q since 2011 pic.twitter.com/hLokctK0V8 7.40am BSTGood morning, and welcome to our rolling coverage of the world economy,the financial markets, the eurozone and trade.
Our European opening calls: $FTSE 5976 up 67 $DAX 9560 up 110 $CAC 4394 up 50 $IBEX 9486 up 92 $MIB 20918 up 192Continue reading...
Source: theguardian.com