Week 14 2018

Week 14 2018

02 April – 06 April

 

02 April

 

Business sentiment in Japan dipped in the first quarter this year but the economy is still healthy with companies struggling to find workers.

 

US equities opened lower on Monday, with pressures from Washington and Beijing leading to losses for consumer stocks.

 

Amazon shares sank more than 4 per cent in morning trade after Donald Trump took another swipe at the ecommerce company.

 

UK banks are selling asset-backed securities at the fastest rate in years, with activity set to increase further as the withdrawal of a Bank of England support programme forces lenders to find alternative sources of funding.

 

03 April

 

Eurozone factory bosses have provided the latest evidence of punctured momentum for manufacturers, pointing to the third successive month of slowing growth in a closely-watched survey.

 

Huawei is the manifestation of everything the US fears and loathes about China: a high-tech giant, founded by a former army officer, that it believes has ties to the Communist party and the wherewithal to spy and steal intellectual property rights.

 

The assets in Neil Woodford’s flagship fund have dropped below £7bn for the first time since 2015 because of disappointing returns and a spate of redemptions by investors who have grown frustrated with the UK’s most high-profile portfolio manager.

 

Tesla has finally broken through some of the production bottlenecks that have been holding back its all-important Model 3, although the rate it is making the cars remains below its own, twice-revised target.

 

04 April

 

China’s planned retaliation to the string of tariffs imposed by the US hit global markets on Wednesday, knocking everything from Boeing shares to soyabeans, as the spectre of a trade war intensified.

 

Chinese pharmaceuticals companies jumped on Wednesday after Beijing announced plans to implement preferential tax policies for producers of generic drugs.

 

Oil has started the second quarter at a crossroads after trading in a narrow range so far in 2018 with the industry split over whether crude can sustain any rise of more than $70 a barrel.

 

Boeing shares fell 4 per cent on Wednesday after China said it was considering imposing punitive tariffs that could hit some of variants of the US aircraft maker’s biggest selling family of aircraft.

 

05 April

 

India’s central bank has held its benchmark interest rate steady at 6 per cent as expected, but sharply reduced its predicted inflation rates for the new financial year at its bi-monthly policy meeting.

 

Babylon, the British digital health start-up that uses artificially intelligent algorithms to assess illness, has struck a deal with Chinese internet giant Tencent to offer its technology on the group’s WeChat social messaging platform.

 

JM Smucker is beefing up its pet food portfolio with the addition of Ainsworth Pet Nutrition in a deal worth $1.9bn, even as it eyes slimming down its (human) food offerings with a potential sale of its US baking business.

 

Wall Street powered back from steep morning losses to close firmly in positive territory on Wednesday as initial market panic over the US’s escalating trade spat with China gave way to hopes that the two countries would eventually reach a compromise.

 

06 April

 

The Trump administration says the ultimate goal of its threatened tariffs on imports from China is to bring back manufacturing jobs in the US. Jason Andringa, who runs an agricultural and construction equipment maker in Iowa, says they could have exactly the opposite effect.

 

BlackRock, the world’s largest asset manager, is to launch a range of new funds that exclude firearms manufacturers and retailers following a deadly school shooting in Florida in February.

 

The Italian government is to buy up to 5 per cent of Telecom Italia, as the battle for control of the former state-owned company intensifies.

 

Cargill, the world’s largest commodity supplier, has raised the alarm over a potential trade war with China, just as it reported a pick-up in commodity markets.