Thursday, 28 November 2024
The Mighty Headlines
Economics: Consumer confidence falls in Germany
Business: EasyJet confirms profits of over £600 million
Markets: Shares in Dell and HP fall by over 10 per cent
Foreign Affairs: Donald Trump picks Jamieson Greer as trade negotiator
Security and intelligence: Baltic and Nordic countries increase support for Ukraine
Domestic politics: UK Government to impose levy on gambling industry
The Mighty Stats
FTSE = 8,274.75 (up 0.2 per cent at Wednesday close)
S&P500 = 5,998.74 (down 0.38 per cent at Wednesday close)
Nasdaq = 19,060.48 (down 0.6 per cent at Wednesday close)
CAC40 = 7,143.03 (down 0.72 per cent at Wednesday close)
£1 = $1.27 / €1.20
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The Mighty Detail
Economics: Consumer confidence in Germany is falling. Data from the GfK Consumer Climate Indicator fell by 4.9 points in a recent survey, indicating a decreased willingness to purchase products and an increased willingness to save. Private consumption, which provides around half of Germany’s GDP, is expected to drop further.
Business: As highlighted in the Mighty Memo earlier this week, EasyJet has confirmed increased profits for the year and record profits over the summer. The airline’s headline profit before tax increased by 34 per cent to £610 million. EasyJet’s package holiday division saw profits increase by 56 per cent to £190 million.
Markets: Shares in Dell and HP declined by more than 12 per cent and 11 per cent respectively yesterday. Both companies published reports which forecast that revenue and earnings in the next quarter would fall below analysts’ expectations.
Foreign Affairs: Donald Trump has chosen Jamieson Greer as the next United States Trade Representative (USTR). The USTR leads trade negotiations for the United States. Greer served as Chief of Staff to then USTR Robert Lighthizer in the first Trump administration. Donald Trump said that Greer would rein in the United States’ “massive trade deficit”.
Security and intelligence: At the Nordic-Baltic Summit in Sweden yesterday, countries agreed to give more ammunition to Ukraine. The countries also said that they were ready to increase sanctions against Russia and that they would investigate the suspected sabotage of underwater communication cables. Countries participating in the Summit included Denmark, Norway, Sweden, Finland, Estonia, Latvia and Poland.
Domestic politics: The UK Government has said that it is to impose a levy on gambling profits, following a consultation last year, and introduce online stake limits. Half of the funds generated from the levy will go towards healthcare, 30 per cent will go towards tackling “gambling harm” and 20 per cent will develop “bespoke research programmes on gambling” to inform future policy.
The Mighty Calendar
What’s happening today?
United States public holiday (Thanksgiving)
Spain, Germany, Japan CPI inflation data (November)
Italy business confidence data (November)
Eurozone consumer confidence data (November)
Japan unemployment rate data (October)
Japan, South Korea retail sales data (October)
Japan, South Korea industrial production data (October)
Lookahead to tomorrow
Parliamentary elections in Republic of Ireland
President Macron visits Notre Dame Cathedral, Paris ahead of its re-opening
France, Canada, Switzerland, India GDP data (Q3 2024)
France CPI inflation data (November)
Eurozone CPI inflation data (November)
Germany unemployment data (November)
China manufacturing data (November)
The Mighty Finale
🌤️Weather today
Basically dry and sunny in all of England. High of 6oC and low of 3oC. A small chance of rain in Belfast around lunchtime. Sunny and dry in Edinburgh.
✏️Life coaching quote of the day
“Step out of the history that is holding you back. Step into the new story you are willing to create.” – Oprah Winfrey
Mighty takeaway: Don’t let your past hold you back. You can choose at any moment to change your future.
That’s it for this Thursday. See you tomorrow morning.
Adios!
The Mighty Memo team