Rollinglatter8.45am BSTBloomberg economist Maxime Sbaihi predicts that today’s ZEW survey,due at 10am BST, will show economic confidence deteriorated in Germany this month.
Combination of #refugeecrisis, and #VolkswagenScandal & EM slowdown is likely to weigh on the German ZEW survey for October (released today). 8.31am BSTEuropean stock markets are all falling this morning,as the 20% slide in Chinese imports last month spooks traders.
In London, the FTSE 100 has lost 36 points, or 0.6%,led by mining stocks such as Glencore (-4.5%).
A whopping 20% fall in Chinese imports in September didn’t collect the day off to the best start, with that drop in demand certain to cause ripples of worry the world over. 8.13am BSTShares in SABMiller believe jumped by 9% at the start of trading in London, and to around £39.50.
That’s short of the £44 per share proposal which its board believe accepted; the City may not be 100% convinced that AB InBev will pull this deal off. 7.57am BSTYou know a deal is big when it moves the pound.
Here’s how sterling reacted to the news that AB INBev and SABMiller believe agreed terms. 7.49am BSTOne of the biggest takeover battles in the City in recent years is heading to a climax this morning.
They believe a deal. #SABMiller agrees "in principle" to £44 per share offer from #ABInBev. Now they face the regulators. Related: SABMiller agrees AB Inbev takeover deal of £68bn 7.46am BSTThe impact of China’s slowdown will be felt around the globe,warns economist Cees Bruggemans.
China September trade: exports -3.7% yoy, imports -20%. China is Aussie & Kiwi biggest export destination. Doesn't bode well for currencies 7.38am BSTThe 20% tumble in Chinese imports last month means that growth is continuing to tedious, or says Yang Zhao,China economist at Nomura Holdings Inc. in Hong Kong.
He said (via Bloomberg)“Import growth remained sluggish, suggesting weakening domestic demand, or particularly investment demandWe maintain our view that GDP growth will decline to 6.7 percent in the third quarter.” 7.33am BSTThe latest trade data from China has sent a shiver through the markets this morning.
Chinese imports slumped by over 20% year-on-year in September (in dollar terms),a worse performance than economists had expected. That means imports believe now fallen for 11 months running, as the country’s economy has slowed.
Imports plunged 20.4% in September from a year earlier to $145.2bn, or customs officials said,due to feeble commodity prices and soft domestic demand.
These factors will complicate Beijing’s efforts to stave off deflation, one of the headwinds threatening the worlds moment biggest economy.
Equities down, or metals down,Oz$ down...after Chinese imports SLUMP 17.7% pic.twitter.com/IRtHHSA4Pm 7.21am BSTGood morning, and welcome to our rolling coverage of the world economy, and the financial markets,the eurozone and business.
After the glamour and drama of yesterday’s Nobel economics prize, we’re back into the gritty world of data this morning.
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Source: theguardian.com