Monday, 9 September 2024
The Mighty Headlines
Economics: Eurozone grows 0.2 per cent in Q2 2024
Business: HSBC to expand wealth management arm
Markets: Price of gold falls from record levels
Foreign Affairs: Iran sends weapons to Russia
Security and intelligence: US to withdraw troops from Iraq
Domestic politics: Prime Minister visits Ireland
The Mighty Stats
FTSE = 8,181.47 (down 0.73 per cent at Friday close)
S&P500 = 5,408.42 (down 1.73 per cent at Friday close)
Nasdaq = 16,690.83 (down 2.55 per cent at Friday close)
Nikkei = 36,215.75 (down 0.48 per cent at Monday close)
CAC40 = 7,352.30 (down 1.07 per cent at Friday close)
£1 = $1.31 / €1.18 / ¥187.28
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The Mighty Detail
Economics: The eurozone’s GDP grew by 0.2 per cent in the second quarter of the year. This is a slight decrease on the 0.3 per cent of growth expected. It is also a decrease on the 0.3 per cent of growth recorded in the first quarter of the year.
Business: HSBC is set to expand its wealth management operations in the UK. Hundreds of staff are expected to be recruited as the bank seeks to double assets under management in its wealth management division to around £100 billion over the next five years.
Markets: The price of gold fell on Friday after reaching record levels in late August. Gold fell to $2,495.85 per troy ounce, down from $2,500 per troy ounce on the 20th August. The uncertain size of the US interest rate cut expected this month may be a factor in the fall.
Foreign Affairs: Iran is alleged to have sent more than 200 ballistic missiles to Russia last week. The weapons are likely to be used against Ukraine. Speaking on Saturday, CIA Director William Burns declined to confirm the transfer but said such a transfer would represent a “dramatic escalation” of Russia and Iran’s defence partnership.
Security and intelligence: The US has agreed to withdraw hundreds of its troops from Iraq in 2025. US-led coalition forces have been stationed in the country since 2014 to fight Islamic State militants. Remaining US troops will leave by the end of 2026. Islamic State was territorially defeated in Iraq in 2017 but US-led troops remained to keep the area in check. There are around 2,500 US troops in Iraq.
Domestic politics: The Prime Minister visited Ireland on Saturday to meet Taoiseach Simon Harris. This follows the Prime Minister’s visits to France and Germany last week which the Government says is part of the “UK’s reset with its key European partners.”
The Mighty Calendar
What’s happening today?
Education Questions in UK Parliament
Mexico inflation data (August)
Mexico consumer confidence data (August)
United States vehicle sales data (August)
United States wholesale trade data (July)
Lookahead to tomorrow
Opening of 79th United Nations General Assembly
Winter Fuel Payment vote in UK Parliament
Justice Questions in UK Parliament
Conservative MPs vote in second round of Conservative leadership election
China trade data (August)
UK unemployment data (July)
Germany CPI inflation data (August)
Italy and Spain industrial production data (July)
The Mighty Finale
🌤️Weather today
Dry in London. Cooler temperatures than last week. High of 17oC and low of 10oC. Dry in Belfast until early evening. Dry in Edinburgh.
✏️Life coaching quote of the day
“If you really want to do something, you'll find a way. If you don't, you'll find an excuse.” – Jim Rohn, motivational speaker
Mighty takeaway: If you keep on making excuses for not spending time on your goals in life, think whether you really want to achieve those goals. If they are the right goals, schedule time in your diary every day to dedicate time to them.
That’s about it for today’s edition. Thank you so much for reading to the end! If you like what you read or don’t like it at all, let us know. And do pass this newsletter on to someone who might find it useful.
Adios!
The Mighty Memo team