Wednesday, 11 December 2024
The Mighty Headlines
· Economics: President Xi warns against a trade war with the United States
· Business: Value of companies leaving the London stock exchange reaches £107 billion
· Markets: Shares in Google rise after new quantum computer chip unveiled
· Foreign Affairs: Nobel Peace Prize awarded to atomic bomb survivors
· Security and intelligence: Taiwan warns of build-up of Chinese military craft
· Domestic politics: UK Government departments recommend 2.8 per cent rise
The Mighty Stats
· FTSE = 8,280.36 (down 0.86 per cent at Tuesday close)
· S&P500 = 6,034.91 (down 0.3 per cent at Tuesday close)
· Nasdaq = 19,687.24 (down 0.25 per cent at Tuesday close)
· CAC40 = 7,394.78 (down 1.14 per cent at Tuesday close)
· £1 = $1.27 / €1.21
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The Mighty Detail
Economics: President Xi of China has said that there would be “no winners” in a trade war with the United States. Speaking at a meeting with the head of the World Bank and the IMF, among others, Xi added that “only when China is good can the world be good. Only when the world is good can China be better”.
Business: The value of companies leaving the London stock exchange has reached £107 billion this year. Yesterday, construction equipment firm Ashtead became the latest to announced that it was moving to the US. More attractive valuations in countries such as the US may be one factor behind the number of companies leaving the London stock exchange.
Markets: Shares in Alphabet – the parent company of Google – rose by nearly five per cent during trading yesterday. This comes after Google announced it had produced a new computer chip, “Willow”, that is seen as a breakthrough for the more advanced quantum computing.
Foreign Affairs: The Nobel Peace Prize has been awarded to a group of Japanese atomic bomb survivors. The group, known as Nihon Hidankyo, campaigns for a worldwide ban on nuclear weapons. One of the co-chairs of the group, 92 year old Terumi Tanaka, said the deaths he saw because of the atomic bomb “could hardly be described as human deaths.”
Security and intelligence: Taiwan’s defence ministry has said that China has sent the largest number of military craft in recent years to surround Taiwan. Taiwan has said it has detected around 47 military airplanes and 21 naval and patrol vessels. The manoeuvres may be a reaction to the Taiwanese President’s visit to Hawaii and Guam earlier this month.
Domestic politics: UK Government departments have recommended a 2.8 per cent pay rise for public sector workers next year. This includes teachers, NHS staff and senior civil servants. The recommendations will be considered as part of the pay review process by the independent pay review bodies.
The Mighty Calendar
What’s happening today?
o Prime Minister’s Questions in UK Parliament
o Swiss elections for President and Vice President
o US Secretary of State Blinken before House Committee on US’s exit from Afghanistan
o US CPI inflation data (November)
o Australia employment data (November)
o Bank of Canada interest rate decision
o Company results from: TUI Group, Macy’s, Inditex
Lookahead to tomorrow
o EU Interior Ministers meeting, Brussels
o Time Magazine Person of the Year announced
o European Central Bank interest rate decision
o Business and Trade Questions in UK Parliament
o China, UK, France, Germany, Italy, Spain consumer sentiment data (December)
o United States jobless data (weekly)
o United State PPI inflation data (November)
o Canada building permits data (October)
o Japan industrial production data (October)
o Company results from: Currys, Costco
The Mighty Finale
🌤️Weather today
A dry but cloudy day for most of England. High of 8oC and low of 5oC. Sunny intervals in Belfast and Edinburgh.
✏️Life coaching quote of the day
“If you do not think that you deserve success…then you will do things that will keep you from getting success.” – Zig Ziglar, motivational speaker
Mighty takeaway: You will only achieve what you think you deserve and what you think you are capable of achieving. It starts and ends with you.
That’s it for this morning. See you tomorrow!
Bye for now!
The Mighty Memo team