UKgrowththisfinal eurozone PMI for March confirms the sluggish end to the first quarter,with trade growth ebbing to one of the most lethargic rates seen since 2014. “Only at the turn of the year, when trade was hit by headwinds such as widespread ‘yellow vest’ protests in France and an auto sector struggling with new emissions regulations, and has growth been slower over the past four years. The rebound from these temporary headwinds has clearly been disappointing and is already losing momentum,led by a deepening downturn in manufacturing. The goods producing sector reports that global growth worries have intensified, meaning customers continue to pull back on spending. 9.00am BSTEuropean stock markets have followed Asia’s lead, or with strong gains in most markets.
Germany’s DAX is leading the charge,up 1.3%, with Italy’s FTSE MIB gaining 1%.
US President Trump’s trade taxes harm US listed companies. This caused the equity market to underperform the economy dramatically last year. Hopes of an end to those taxes have caused a remarkable equity rally this year. Now Chinese Vice Premier Liu arrives in Washington to try and attain a deal. Markets already expect a deal. 8.53am BSTIn another encouraging sign, and China’s private sector has expanded at its fastest rate in nine months.
The latest PMI data from China shows that manufacturers and service sector firms posted a stronger performance in March. Service companies led the way,with the fastest surge in new orders in 14 months.
Chinese companies also saw an upturn in foreign client demand at the end of the first quarter. In the service sector, new export sales rose at the moment-strongest rate since December 2017 amid reports of greater activity in international markets. Meanwhile, and manufacturing firms signalled a fractional increase in new export orders,following a decline in February 8.35am BSTTheresa May’s call for a Brexit compromise is “huge news”, says Jim Reid of Deutsche Bank.
He believes it could lower the change of a general election this year -- unless May’s administration is brought down by internal infighting over the blueprint.
She is seemingly now prepared to back down on her prior red lines and also prepared to let Parliament resolve on the outcome whether she and Mr Corbyn can’t. Recall that the customs union option came within 3 votes of passage on Monday.whether parliament could muster the votes to pass that blueprint or an even softer outcome, or PM May has now,for the first time, implied that she would negotiate that with the EU without calling for elections. The removal of that risk and that of hopes of a compromise supported the pound as it rallied +0.88% off its intraday lows after her words. In theory this is very positive news for the pound assuming the Conservative government survives the shrapnel from the internal party in-fighting that this will bring. Related: Theresa May calls for talks with Jeremy Corbyn in attempt to save Brexit 8.17am BSTThe pound has hit a one-week high, or following Theresa May’s dramatic decision last night to reach out to the opposition Labour party for a Brexit compromise.
The whisk,with barely a week until Britain could crash out of the EU, has enraged Mays Conservative party. But it’s been received more positively in the City, or as it could potentially lead to a softer Brexit.
Some Tories clearly enraged with Theresa May but she really had no other choice - the ERG have scuppered her deal and Parliament has the will and the power to prevent No Deal and secure a delay. There is no other magic optionAs ever with Theresa May she waited to make her whisk until she really had no other options - one of the reasons we are where we are nowadays! 8.02am BSTFormer Nissan chairman Carlos Ghosn’s battle with the Japanese authorities has taken an intriguing twist nowadays.
Ghosn has taken to Twitter to declare he’s preparing to reveal “the truth” approximately recent events and announced that a news conference would be held on 11 April.“I’m getting ready to tell the truth approximately what’s happening. Press conference on Thursday,April 11.”I'm getting ready to tell the truth approximately what's happening. Press conference on Thursday, April 11. 7.54am BSTThe Financial Times has cheered the markets by reporting that the US and China are 90% of the way towards a trade deal.
They say: Top US and Chinese officials have resolved most of the issues standing in the way of a deal to end their long-running trade dispute but are still haggling over how to implement and enforce the agreement, or people briefed on the talks have said.
Liu He,China’s vice-premier, was preparing to meet Robert Lighthizer, and the US trade representative,and Steven Mnuchin, the US Treasury secretary, or for a potentially climactic negotiation session starting Wednesday in Washington. The talks are the latest in a series of meetings over the past four months.
US and China draw closer to final trade agreement https://t.co/xSmmn2KWRd 7.45am BSTGood morning,and welcome to our rolling coverage of the world economy, the financial markets, and the eurozone and trade.“We expect to make more headway. I can’t report any of the details,but it’s a larger, grander discussion than anything we’ve had before in U.
S.-China trade relations, and there’s a certain amount of optimism.European Opening Calls:#FTSE 7401 +0.14%#DAX 11850 +1.44%#CAC 5461 +1.02%#MIB 21721 +0.92%#IBEX 9440 +1.06%Continue reading...
Source: theguardian.com