US stocks flat in the Tuesday trading

The US stocks were flat on the Tuesday trading in New York. The markets were waiting for the big news related to central banks, Brexit and trade talks.

The oil company Aramco, which starts trading on Wednesday in Ridyah, is trying to reach again the 2 trillion dollars valuation with the help of state investment funds and wealthy families. Financial Times reported to news first.

S&P 500 -index closed down 0,11 % to 3132,52 points, Dow Jones -index closed down 0,10% to 27881,72 points and tech-heavy Nasdaq closed down 0,07 % to 8616,18 points.

The US Federal Reserve will have its FOMC meeting on Wednesday with the press conference as well. Rates are expected to be unchanged. On Tuesday there has been also speculation of digital currencies and the central banks interest to join the development with their own currencies. Bloomberg News reported that some of the ECB (European Central Bank) members would be interested to take a closer look at the digital, European currency, while others are clearly against the new money. The European Central Bank is having their rate meeting on Thursday.

The UK Brexit-vote will be on Thursday as well and the market polls show again that the Tories are expected to win the general election although the race has tightened.  According to Sky News, the Tories are expected to win, but it is not secured that the Tories would get the clear majority. The FTSE 100-index closed down 0,28 % to 7213,76 points in London on Tuesday.

In Germany the DAX-index closed down 0,27 % to 13070 points, while in France the CAC 40 -index closed up 0,18 % to 5848,03 points.

 

Business Finance

Moncler board meeting to discuss about strategy

The Italian high-fashion house Moncler had its board meeting today on Tuesday. According to Bloomberg News, the board meeting was regular related to company 3-year strategy. The company spokesperson did not comment about the possible takeover discussion with the French Kering group.

After the media speculation, related to the takeover of Moncler by Kering, the Italian company CEO Remo Ruffini said that he is having different talks with different stakeholders but denied that there would be takeover talks.

The shares of the Milan listed Moncler (MONC) closed today up 0,72 % to 42,09 euros, while the French Kering (KER) closed up 0,42 % to 546,40 euros. The Moncler has increased over 52 % this year in the Milan Stock Exchange, while the Kering has gone up 43,5% in Paris. The luxury sector in general has performed well in spite of the global trade tensions.

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The North American trade deal ready

The North American trade deal, the USMCA deal is ready.  The US, Canada and Mexico have agreed to the proposed changes and it is estimated that the officials will sign the new agreement next week or in the beginning of next year.

This new USMCA will replace the older Nafta deal and it covers the 1,2 trillion dollars annual trade in the three countries.

 

Business

Asian stocks mixed – Sydney air pollution

Asian stocks were mixed on Tuesday trading. The Nikkei-index was down 0,09 % to 23410 points, the Hang Seng in Hong Kong was down 0,04% to 26 483 points and the Shanghai index was up 0,04 % to 2915 points.

The markets were more wait and see -mood related to this week’s central banks meeting in the US and in Europe and also waiting for more information related to the US China trade deal situation. Yesterday on Monday there were news that the Nafta deal in the Northern America could be moving forward.

The Sydney air quality related to the bushfires continued to stay poor and in some areas the authorities (NSW Health) said to take seriously the recommendations to stay indoors between 11 am to 4 pm.

 

Business Finance

US stocks closed down due trade situation in the superweek start (corrected)

Corrected: Morgan Stanley is expected to cut jobs 1500, not 500

The US stocks closed down in New York on Monday. The main reason for the trend was the US China trade situation and with the 15th December deadline on Sunday. Apple (AAPL) was one of the biggest losers with its 1,4 % decline. Morgan Stanley is expected to cut about 1500 jobs globally, which may lead to 150 -200 million dollars onetime costs during the last quarter of this year, the Bloomberg News says.

Dow Jones closed down 0,39 % to 27910,7 points, S&P 500 -index closed down 0,32 % to 3135,99 points and Nasdaq down 0,40 % to 8621,83 points.

Morgan Stanley is said to cut job cuts that are related to changing banking sector due to technology and will include up to 200 million dollars onetime costs. The estimate is based on Bloomberg News. The company shares closed down 0,39 % to 49,60 dollars. Apple was also down due to the unsolved US China trade negotiations. Apple closed down to 266,92 dollars.

The US and Mexico are heading to the USMCA trade deal, the Trump administration officials said on Monday. According to Bloomberg News, President Donald Trump secured approval for his U.S.-Mexico-Canada Nafta trade agreement from a key U.S. labor leader, clearing one of the final hurdles. The deal is to get a vote in Congress next week.

The markets are also waiting for more info related to central banks monetary policies during this week with the FOMC meeting on Wednesday and the ECB on Thursday. The central banks are expected to keep the rates unchanged in their last meetings this year.

The UK Brexit vote on Thursday did not have any significant impact on stocks while the FTSE 100 index was down slightly 0,80 % to 7233,90 points in London. In Germany the DAX-index closed down 0,4 0% to 13105,61 points and in France the CAC40 -index closed down 0,59 % to 5837,25 points.

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Europe is planning to be climate-neutral economy -Bloomberg

The European Union is planning to become a climate-neutral economy. According to Bloomberg News, the formal signing could be made on Thursady in the leaders meeting in Brussels.

According to the plans, this European Green Deal roadmap would be published on Wednesday. This plan would also include a proposal for a global carbon scheme and would mean increasing taxes for airlines, shipping and car manufacturers.

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