Monday, 17 February 2025
The Mighty Headlines
Economics: EU GDP grows by 0.2 per cent
Business: Sony sees record sales in 2024
Markets: Goldman Sachs optimistic about European shares
Foreign Affairs: Ukraine rejects US access to rare earth metals
Security and intelligence: US and Russia meet in Saudi Arabia
Domestic politics: New tax relief scheme for film studios in England
The Mighty Stats
FTSE = 8,732.46 (down 0.37 per cent)
S&P 500 = 6,114.63 (down 0.0072 per cent)
Nasdaq = 20,026.77 (up 0.41 per cent)
CAC40 = 8,178.54 (up 0.18 per cent)
£1 = $1.26 / €1.20
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The Mighty Detail
Economics: The EU’s GDP grew by 0.2 per cent in Q4 2024. This is down from the 0.4 per cent growth recorded in the previous quarter. This compares to 0.6 per cent growth in the US and 0.1 per cent growth in the UK.
Business: New data shows that sales at Sony increased to a record $67.5 billion between April and December 2024. The technology company’s operating profit increased by 22.9 per cent to a record $7.8 billion. Sony attributes its strong performance to the sale of video game consoles and music streaming services.
Markets: Goldman Sachs raised its forecast for the performance of the pan-European Stoxx 600 index over the next 12-months. It said that lower inflation, stronger economic growth and improved consumer confidence would support higher valuations of European shares.
Foreign Affairs: The Ukrainian Government has rejected a proposal to give the US access to its rare earth minerals. A Ukrainian official stated that the US proposal saw access to the metals “as compensation” for the support the Biden administration gave to Ukraine and as payment for more aid in the future.
Security and intelligence: The White House’s Middle East envoy, Steve Witkoff, and National Security Advisor, Mike Waltz, are in Saudi Arabia today to discuss the Ukraine war with Russian officials. Secretary of State, Marco Rubio, also said yesterday that Ukraine and Europe would be part of any “real negotiations” to end the war. An emergency summit of European leaders is being held in Paris today to discuss the war.
Domestic politics: From today, film studios in the UK will be eligible for a 40 per cent reduction in their business rates bill. The scheme was announced by the previous Conservative Government and was taken up by the current Labour Government.
The Mighty Calendar
What’s happening today?
· Canada public holiday (Family Day)
· United States public holiday (Washington’s birthday)
· President Macron hosts emergency summit on Ukraine war
· European Commission President hosts US special envoy to Ukraine
· US Secretary of State continues visit to the Middle East
· US Middle East and National Security officials in Saudi Arabia for Ukraine talks
· Eurozone, India trade data (December)
Lookahead to tomorrow
· China’s Foreign Minister Wang Yi chairs UN Security Council meeting
· UK average earnings data (December)
· UK employment data (December)
· Canada CPI inflation data (January)
· Japan trade data (January)
The Mighty Finale
🌤️Weather today
Sunny in the southeast. Wet in the southwest. Cloudy further north. High of 6C and low of 0C in London. Cloudy in Belfast and Edinburgh.
✏️Life coaching quote of the day
“I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting down and trying to dream it all up yourself. Nobody’s that smart.” – Charlie Munger, financier
Mighty takeaway: You don’t have to re-invent the wheel. Learn from other people’s experiences and expertise.
That’s it for this morning. Thanks for reading and we’ll see you tomorrow.
Adios!
The Mighty Memo team