Large US companies such as Amazon.com andT oyota Motor Corp take steps to avoind threats that hide in new tariffs, Reuters reports.
Slowdown in Chinese economy's growth together with perspective for interest rates hikes, as well as government's measures to cool down property market, make experts issue warning on possible correction of Hong Kong's real estate market, Bloomberg reports.
As Bloomberg repors today, European shares are at the low level after drop on Friday. US futures will most likely open lower, since investors evaluate warning that came from world financial leaders in regards to protectionism and its influence on global growth.
US tariffs will hurt prosperity of Germany and will cost country 20 billion euro this year, Reuters informs with reference to German IMK (Institute of Macroeconomic Policy).
US introduced duties to steel and aluminum from European Union from June 1 and threaten to implement the same measures to cars and spare parts.
Problems with employees started influencing profit of Ryanair Holdings Plc. This discount airline showed reduction in after-tax profit by 20% in first quarter and warned that employees' strikes made passengers book tickets very carefully, Bloomberg reports.
During meeting on Sunday world financial leaders called for the use of measures to prevent trade and geopolitical tensions that might hurt global growth, however, consensus in regards to actions against US tariffs was not reached, Reuters reports.
Boeing announced that it beat Airbus in regards to amount of sales reported during Farnborough Air Show, where two planemakers took about 900 orders, Reuters reports.
Boeing won 528 orders, and Airbus reported about 431 new deals.
More than a dozen US companies got at least $5 billion revenues in China last year, Bloomberg reports.
Growing trade conflict between two countries will hurt companies from both sides, since it will lead to tariffs introduction and potential boycotting on behalf of consumers.
European shares fluctuate between growth and fall, as well as futures in the US. Asian stocks started to grow after news that Chinese central bank stepped in to stop yuan weakening.
Dollar fell together with US Treasuries. Index Bloomberg Dollar Spot lost 0,1%. US Treasuries yield is 2,85%.
Seven years after restructuring UBS bank, which focuses on wealth management, is one of the most stable banks in Europe, Bloomberg notes. Shares are traded above peers' stocks, clients adding new assets, and bank reports expected profit.
Basic metals took a breather after its recent collapse, since dollar declined compared to yuan at the end of trading session in Asia, Bloomberg reports.
Oil approached price level $70 a barrel after Saudi Arabia announced that it is not going to export volumes exceeding client's needs, chasing away fears of oil flooding to the market, Reuters informs.
