Post-Brexit Special: Business leaders on the challenges of trading with the EU January 26, 2021 Since the start of the year, a raft of new requirements are making life increasingly difficult for UK businesses that trade with the EU. On the surface, frictionless trade should have continued, but as the UK is no longer part of the EU Single Market and Customs Union, companies have been faced with an increased [...]
Before the Bell: Europe to open higher as US fiscal talks get underway January 25, 2021 While US markets continued to set new records last week, European markets traded in a more lacklustre fashion as the early year optimism of the first week of 2021, gave way to a lot more caution, as a rise in short-term economic pessimism and the prospect of tighter lockdown restrictions for longer raise the prospect [...]
UK PMIs: Economy slows more than expected in January January 22, 2021 The UK economy has slowed further than many expected in January, according to the leading economic index. Newly released UK PMI figures show the slowdown has been driven by a collapse in the services side of the economy. The overall PMI figure for January is 40.4, and 38.8 for services – the lowest reading for [...]
Before the Bell: Janet Yellen faces US lawmakers today January 19, 2021 A lacklustre trading session for Europe in the absence of US markets yesterday saw European equities finish the day rather mixed with the FTSE100 finishing the day on the back foot, while German and French markets finished the day modestly higher. Michael Hewson, chief market analyst at CMC Markets UK, told City A.M. this morning [...]
Post-Brexit delays are ‘teething problems’, says minister January 14, 2021 Environmental secretary George Eustice told the House of Commons earlier today that post-Brexit customs delays, currently heavily impacting Scottish fishing exports, are only “teething problems”. Scottish First Minister Nicola Sturgeon called the backlog “shameful” on Twitter last night, in a push for compensation for Scottish fishermen. Eustice said that the government will ‘remain open’ to [...]
China’s President Xi writes to former Starbucks chairman in push to improve trade relations January 14, 2021 China’s President Xi Jinping has written to Starbucks’ former chairman to promote trade, state media reported this morning. Xi asked former Starbuck’s tycoon Howard Schultz to promote trade and business relations between Washington and Beijing, urging Schultz to “continue to play an active role in promoting China-US economic and trade cooperation”, the official Xinhua news [...]
Before the Bell: Europe called higher as Biden is due to announce $2trn stimulus January 14, 2021 Volatility in the markets was low across the board yesterday. There was no change to the macroeconomic outlook. “Hence why trading ranges were relatively small. Equity markets in Europe and the US had muted sessions,” David Madden, market analyst at CMC Markets UK, tells City A.M. this morning. “The health crisis is still bubbling away [...]
Exclusive: City fund managers on the impact of the third lockdown January 13, 2021 In this 2-part series, City A.M. asked UK-focused fund managers what they make of post-Brexit trade arrangements, the impact of three lockdowns and the long-term outlook for the UK’s investment community. Yesterday, in part 1, the investment managers focused on the UK-EU deal and which sectors and companies may become the winners and losers from [...]
Before the Bell: Volatility remains low but Trump faces impeachment vote January 13, 2021 Stock markets had a relatively quiet session yesterday as there wasn’t any major news to influence sentiment in one way or another. European stocks lost ground as Covid-19 case numbers played on traders’ minds. Several governments have tight restrictions in place in a bid to get a handle on the virus – which is having [...]
Exclusive: UK eyes adding climate provisions in US trade talks to woo Joe Biden January 13, 2021 The UK will try to add new provisions on climate change and environmental standards in US trade negotiations in a bid to woo incoming President Joe Biden. Trade secretary Liz Truss wants to build on current negotiations with the Donald Trump administration and potentially add things like enhanced protections on air pollution and corporate transparency [...]