Tuesday, 5 November 2024

The Mighty Headlines

 

  • Economics: Manufacturing in the Eurozone falls for the 19th month in a row

  • Business: Profits at Ryanair fall by 18 per cent

  • Markets: Oil prices rise by 2 per cent following OPEC+ decision

  • Foreign Affairs: President Sandu wins Moldova election

  • Security and intelligence: US accuses Russia and China at UN Security Council

  • Domestic politics: UK Government provides £150 million for Border Security Command

 

The Mighty Stats

 

  • FTSE = 8,184.24 (up 0.087 per cent at Monday close)

  • S&P500 = 5,712.69 (down 0.28 per cent at Monday close)

  • Nasdaq = 18,179.98 (down 0.33 per cent at Monday close)

  • CAC40 = 7,371.71 (down 0.50 per cent at Monday close)

 

  • £1 = $1.30 / €1.19

 

  • US swing states: Trump / Harris

Michigan            47.0            48.0            Harris +1.0

Pennsylvania     47.8            47.8            Dead heat

Wisconsin          47.3            48.3            Harris +1.0

Arizona               48.9            46.7            Trump +2.2

N. Carolina        48.3            47.3            Trump +1.0

Georgia              48.3            47.3            Trump +1.0

Nevada               47.7            47.4            Trump +0.3

   

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The Mighty Detail

 

Economics: According to the latest data, manufacturing in the Eurozone declined for a 19th consecutive month in October. The HCOB Eurozone Manufacturing PMI – an index which tracks growth – came in at 46 in October. Any number below 50 indicates a contraction. While France and Germany both saw declines in manufacturing, Spain saw manufacturing growth at a 32-month high.

 

Business: Profits at Ryanair fell by 18 per cent in the first six months of the year to €1.79 billion. Although the airline recorded a 9 per cent increase in passenger numbers to 115 million people, lower airfares and delays in the delivery of aircraft from Boeing have meant reduced profitability.

 

Markets: The price of oil rose by nearly 2 per cent during trading yesterday, with Brent oil futures up to just over $1.66 per barrel. As mentioned in the Mighty Memo yesterday, the OPEC+ group has decided to delay plans to increase oil output in December.

 

Foreign Affairs: Incumbent President Maia Sandu has won the run-off in Moldova’s Presidential Election. She won 54 per cent of the vote. The election was seen as a proxy battle between pro-EU and pro-Russian forces in the country. There are accusations of Russian attempts to interfere with the election, with claims of false bomb threats at polling stations and vote buying.

 

Security and intelligence: At the UN Security Council yesterday, the United States accused Russia and China of shielding North Korea from sanctions and so allowing North Korea to build up its “unlawful ballistic missile, nuclear and WMD programs”. At the same time, President Putin hosted North Korea’s Foreign Minister, Choe Son Hui, in Moscow.

 

Domestic politics: The Government has announced an additional £75 million for Border Security Command, bringing total additional investment for the agency to £150 million over the next two years. The Government says this will provide for 300 more staff as well as provide for 100 specialist investigators at the National Crime Agency.

 

The Mighty Calendar

 

What’s happening today?

 

  • United States Presidential Election

  • Justice Questions in UK Parliament

  • France industrial production data (September)

  • Spain, New Zealand unemployment data (October)

  • UK car registrations data (October)

  • United States, Canada trade data (September)

  • Company results from: Associated British Foods, Audi, Devon Energy

 

Lookahead to tomorrow

 

  • Prime Minister’s Questions in UK Parliament

  • Prince William attends Earthshot Prize ceremony in South Africa

  • Eurozone PPI inflation data (September)

  • China, Australia trade data (September)

  • UK construction growth data (October)

  • France, Germany, Italy, Spain services growth data (October)

  • Company results from: Novo Nordisk, Credit Agricole, Commerzbank, Lyft, BMW, Persimmon

 

The Mighty Finale

 

🌤️Weather today

 

Dry with sunny intervals in London. High of 14oC and low of 9oC. Overcast in Belfast with a chance of rain in the afternoon. Overcast but dry in Edinburgh.

 

✏️Life coaching quote of the day

 

“If you are not willing to risk the unusual, you will have to settle for the ordinary.” – Jim Rohn, motivational speaker

 

Mighty takeaway: If you don’t want to follow the crowd, you sometimes have to do things differently.

 

That’s all for this Tuesday. See you tomorrow morning!

 

Cheerio!

 

The Mighty Memo team

hello@mightymemo.co.uk

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Monday, 4 November 2024