Monday, 28 October 2024

The Mighty Headlines

 

  • Economics: Russia increases interest rates to 21 per cent

  • Business: Panama Canal increases its profits to nearly $3.5 billion

  • Markets: Nvidia briefly overtakes Apple as world’s most valuable company

  • Foreign Affairs: Ukraine cancels visit of UN Secretary General

  • Security and intelligence: Chinese group reportedly hacking phone of Donald Trump

  • Domestic politics: UK Government announces £500 million for affordable housing

 

The Mighty Stats

 

  • FTSE = 8,248.84 (down 0.25 per cent at Friday close)

  • S&P 500 = 5,808.12 (down 0.030 per cent at Friday close)

  • Nasdaq = 18,518.61 (up 0.56 per cent at Friday close)

  • CAC40 = 7,497.54 (down 0.076 per cent at Friday close)

 

  • £1 = $1.30 / €1.20

 

  • UK: Con / Lab / Reform = 24 / 29 / 19 per cent

 

  • US swing states: Trump / Harris

Michigan            47               47.6            Harris +0.6

Pennsylvania     47.9            47.6            Trump +0.3

Wisconsin          47.6            47.8            Harris +0.2

Arizona               48.6            46.7            Trump +1.9

N. Carolina        48.3            47.1            Trump +1.2

Georgia              48.5            47.0            Trump +1.5

Nevada               47.2            47.3            Harris +0.1

  

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The Mighty Detail

 

Economics: Russia’s central bank has increased interest rates from 19 per cent to 21 per cent. This is the highest level since February 2003. Export revenues from oil and government spending on the military means the rate of inflation in the country is higher than the target and will average out to around 7.9 per cent this year. CNBC

 

Business: The Panama Canal’s profits increased by 9.5 per cent in the year to September to $3.45 billion. This is despite the Canal suffering from the third driest year on record which has reduced the water available for ships to pass through it. An average of 27 ships a day pass through the Panama Canal out of a maximum capacity of 36 ships. Reuters

 

Markets: Chipmaker Nvidia briefly overtook Apple as the world’s most valuable company during trading on Friday. Nvidia’s value reached $3.53 trillion on Friday, just above Apple which is worth $3.52 trillion. Nvidia’s shares have risen by 18 per cent in October alone. Reuters

 

Foreign Affairs: The Ukrainian Government has cancelled a visit by the UN Secretary General following intelligence that North Korean troops would be deployed in Russia against Ukraine. It is thought that North Korean troops could be deployed to the Kursk region of Russia, parts of which Ukraine has held since August. Associated Press

 

Security and intelligence: There are reports that Chinese hackers have attempted to infiltrate the telephones of Donald Trump, JD Vance and people working on the Harris campaign. The Washington Post has said that the attacks come from a Chinese hacking group called “Salt Typhoon” which is reportedly linked to China’s intelligence agency, the Ministry of State Security.

 

Domestic politics: Ahead of the UK Budget this week, the Government has said that it will be investing an additional £500 million to deliver up to 5,000 new affordable homes. The Government has said that it will also seek to protect social housing stock by reducing the discount provided by the Right to Buy scheme which allows social housing tenants to purchase their home.

 

The Mighty Calendar

 

What’s happening today?

 

  • New Zealand public holiday (Labour Day)

  • Housing Questions in UK Parliament

  • General Debate on Remembrance in UK Parliament

  • World Meteorological Organisation Greenhouse Gas Bulletin

  • Spain retail sales data (September)

  • Hong Kong trade data (September)

  • Japan unemployment data (September)

  • Company results from: Ford Motors

 

Lookahead to tomorrow

 

  • Treasury Questions in UK Parliament

  • Great British Energy Bill (Remaining Stages) in UK Parliament

  • UK mortgage approvals data (September)

  • United States house prices data (August)

  • Australia CPI inflation data (Q3 2024)

  • Company results from: Alphabet, McDonald’s, Santander, HSBC, BP, Lufthansa

 

The Mighty Finale

 

🌤️Weather today

 

Light cloud in London and a chance of rain for most of the day. High of 16oC and low of 13oC. Drizzle in Belfast and light could in Edinburgh.

 

✏️Life coaching quote of the day

 

“No person, no place and no thing has any power over us, for ‘we’ are the only thinkers in our mind. When we create peace and harmony and balance in our minds, we will find it in our lives.” – Louise Hay, motivational speaker

 

Mighty takeaway: What you think becomes your reality.

 

That’s all for today. Have a great week. And don’t forget to live your dreams!

 

Cheerio!

 

The Mighty Memo team

hello@mightymemo.co.uk

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