European Comission rejected budget of Italy, Bloomberg reports. This is an unprecedented step in bloc's history that will intensify tension between Rome and Brussels, which disturbed the markets in recent months.
According to Bloomberg, US futures fell today together with European stocks, which followed after Asian equities. Japanese yen, gold and US Treasuries rose. Yen gained 0,4% to 112,33 per dollar. US Treasuries yield fell to 3,15%. Gold is 1% up to $1234,08 per ounce.
Among list of events that bother investors in European equities today are Italy’s budget, Asia’s selloff, decline in US futures and a whole row of disappointing news from corporations, Bloomberg writes.
Therefore, there is no surprise that Stoxx Europe 600 may close at the lowest level since December 2016, down 1,4%.
London’s housing market is in bad shape, Bloomberg reports.
Although official numbers show that prices in the UK’s capital started to fall this year, real estate agents felt that bad times were coming earlier.
Fast growth of vanadium prices may hit its perspective as next important element in producing batteries, Bloomberg reports.
Oil prices fell on Tuesday after Saudi Arabia announced that it is ready to support energy market, Reuters reports. However, investors are still concerned about approaching US sanctions that will take effect on November’4th.
Price of Brent oil fell by 0,6% to $79,33 per barrel. WTI oil fell by 0,3% to $69,14 per barrel.
Survey of economists conducted by Reuters, showed downgrade of global economy growth outlook in 2019. It shall be noted that in the beginning of 2018 all surveyed economists were optimistic in regards to future robust economic growth. However, now trade war between China and the US, as well as tightening financial conditions will be the main reasons for the next economic downturn.
According to Bloomberg, US futures grew along with stocks in Europe after China's officials promised to take steps for supporting the economy. Dollar and US Treasuries are stable, while Italy's bonds grew. S&P 500 increased by 0,4%.
Spain is planning to make cryptocurrency investors to inform about holdings and transactions inside the country and abroad to control violations of tax law, Bloomberg reports.
Swedish ATM operator Bankomat thinks that responsibility for providing citizens with cash shall be rested on the state, not on the banks, Bloomberg reports. This opinion was expressed just in time when Sweden is trying to limit its rapid development into cashless society.
Moody’s Investors Service downgraded Italy’s bonds to just one level above junk bonds, Bloomberg reports. Agency is concerned about financial stability of the country as well as delayed plans on structural reforms of the economy.
Credit rating was reduced to Baa3, outlook was changed to stable.
Oil is traded at price close to $69 per barrel today, as pressure on the market related to supply constraints eased after US drilling rose to the highest level since 2015, Bloomberg reports. Besides, it became known that output in Libya may grow in the beginning of next year.
