Aston Martin and the new SUV later this year

The British luxury car manufacturer Aston Martin (AML) is launching its first ever sport utility vehicle later this year. The new car, called DBX, will be important to the company after the weak demand in the UK and in Europe due to growing economic concerns and Brexit.

Aston Martin, which had its IPO last October in London Stock Exchange, is now trading below 5  pounds, while the IPO-price was 19 pounds per share, valuing the company at 4,3 billion pounds at that time.

The company was founded more than one hundred years ago by founders Lionel Martin and Robert Bamford in 1913 in a small London workshop. According to the company strategy Aston Martin will launch full EV capability by 2022. The aim is also to be the British car company that create the most beautiful and accomplished automotive art in the world.

The London Stock Exchange closed today down 1,13 % to 7067 points, while in Germany the Dax-index closed down 0,70 % to 11 412 points and in France the CAC 40 -index closed down 0,27 % to 5236 points.

 

 

 

 

 

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Stocks plunged in Wall Street due to global growth

The global economic growth was the major concern in the financial markets today. Wall Street plunged and the main indexes showed decline by over 2,8 %. According to market analysts the economic information from China and Germany and the ongoing uncertainty with the UK Brexit-deal were the main topics.

China´s industrial output growth has declined to 17-years low and Germany´s export declined during the second quarter Reuters reported. S&P 500 -index declined by 2,77% to 2845 points, Dow Jones index by 2,91 % to 25516 points and Nasdaq-index by 2,87 % to 7786 points.

Department store Macy´s (M) published its figures and the stock declined by 13,22 % to 16,80 dollars. The company’s net sales during the second quarter was 5,5 billion dollars that is nearly the same level than a year ago. According to the release the company said the quarter was a slow start and was below expectations. Macy´s lowered its guidance for the whole year.

In Europe the stocks declined as well and in Germany the DAX-index closed down 2,19 % to 11 492 points and in France the CAC 40 -index closed down 2,08 % to 5251 points. In London the FTSE index closed down 1,42 % to 7147 points.

Euro was trading at 1,11 dollars and sterling at 1,205 dollars.

 

 

 

 

 

 

 

 

 

Business Finance

Brexit: Fast-visa track for scientists

The UK Prime Minister Boris Johnson said today that he wants the country to become a science superpower.

I want the UK to continue to be a global science superpower, and when we leave the EU we will support science and research and ensure that, far from losing out, the scientific community has a huge opportunity to develop and export our innovation around the world.

He said that this fast-track will help top scientists from science, engineering and technology to enter the country. They are also allowed to bring their families with.

Johnson also mentioned that they will expand the pool of UK research institutions and universities to able to endorse candidates and remove the need to hold an offer of employment before arriving.

 

 

 

 

 

 

 

 

 

 

Business Research and Insights

Brexit: Pound falling to new lows

The UK Sterling fell to new lows on Tuesday trading as the market speculation about no-deal Brexit widened. Britain’s currency dropped 0.51 % to 1.2154 dollars. It has fell 4.3 % since the end of June.

The no-deal Brexit speculations widened because of the comments of the new Prime Minister Boris Johnson related to the exit. According to him, the UK would like to negotiate a new deal with the EU, but if this is not going to happen, he is ready and according to his remarks, the Government is also ready to take the UK out of the block without a deal if needed.

The stock markets were trading also down in Europe. In London, the FTSE 100 index was down 0,29 % to 7664 points, in Germany the DAX index was down 2,22 % to 12 142 points and in France the CAC40 -index was trading down 1,53 % to 5515 points.

In Asia, the Nikkei 225 index closed up 0,43 % to 21 709 points and the Hang Song in Hong Kong closed up 0,14 % to 28146 points.

 

Business Finance

Draghi: ECB rates unchanged – stimulus needed

The European Central Bank (ECB) kept its key interest rates unchanged in today’s Governing Council meeting. According to President Mario Draghi, the central bank is determined to keep the rates at least at the present or even lower level until the first half of 2020.

The tone of voice about the slow economic growth and the needed stimulus package has become more serious. The bank is now also considering the asset purchase program (APP) again.

-This outlook is getting worse and worse, and it is getting worse and worse in manufacturing and getting worse and worse in countries where manufacturing is very important, Mr Draghi said in the press conference.

He reminded about the geopolitical situation, trade tensions, lower manufacturing figures, hard Brexit and the low growth rate of Chinese economy as the main reasons for the low economic outlook. And he also said many times: We do not like what we see (referring to the low inflation figures).

The central bank said already in the previous press conference that it has helped banks to boost the financing and liquidity of corporate lending as part of the financial stimulus.

-Teltra 3 will help bank lending and access to finance especially for small and medium size companies in the euro-zone, Draghi reminded.

The financial markets are expecting that the ECB would lower its rates in September meeting, while the Federal Reserve is expected to do it already next week.

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Brexit: No-deal is real again

The new UK Prime Minister Boris Johnson made his first public statement as a Prime Minister today. He said he is determined to deliver the exit on time and he said he is ready also for a no-deal Brexit, if it is the only way to declare the situation.

– The ports will be ready, the banks will be ready, the factories will be ready, business will be ready, he reminded.  He said he will take the issue on his own responsibility to deliver the Brexit on time.

According to Bloomberg he also promised lower taxes on capital investment and research, new road and rail infrastructure, plus full-fiber broadband. He also wants the UK to develop its own satellite systems.

Business Finance

Brexit: Boris Johnson new PM -markets up

The UK´s next Prime Minister is Boris Johnson. He won the majority of the votes in the Conservative Party elections and will move to Downing Street 10 after he has visited Queen Elizabeth in Buckingham Palace tomorrow. The Queen will formally appoint the new Prime Minister.

– We are going to get Brexit done on October 31st and we are going to take advantage of all the opportunities it will bring, in a new spirit of can do, Mr Johnson said after the voting results.

The stock markets were up in globally, partly of the good earnings results, for example from Coca-Cola and of positive signs in China-US trade talks. The US trade representative Robert Lighthizer will travel to China next week in order to continue the trade talks.

Dow Jones closed up 0,65 % to 27 349 points, the tech Nasdaq-index up 0,58% to 8251 points and S&P 500 index +0,68 % to 3005 points, reaching over 3000 points.

In Europe the FTSE 100 index closed up 0,56 % to 7556 points in London, the DAX-index closed up 1,64 % to 12490 points and in France the CAC 40 index closed up 0,92 % to 5618 points.

In Asia the stocks also rose in Tuesday. The Nikkei index closed up 0,95 % to 21 620 points and Hang Send in Hong Kong rose 0,34 % to 28 466 points. The Shanghai Composite rose 0,45 % 2899 points.

The euro was trading 1,11 dollars. The UK sterling was at 1,11 euros and at 1,24 dollars.

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