Fidelity Top Stories
March US FOMC - Analysts react
"We have long anticipated that the Fed would need to raise rates more rapidly over the next few years, a view now shared by Fed officials and other forecasters. What stands out now are our medium-term bearish views. Once the fiscal boost fades and job growth slows, we expect economic growth will fall below trend, prompting the Fed to begin cutting rates again in 2020, a strongly non-consensus call. " - Michael Pearce, Capital Economics.
Trump 'fuming' after leak reveals his Putin congratulation blunder
US President Donald Trump was infuriated on Tuesday night by the leaking of his decision to ignore a recommendation from his national security advisers not to congratulate Vladimir Putin during a phone call.
Factory orders weaken but stay above trend, CBI says
Factory order books weakened in March but manufacturers continued to benefit from sterling’s decline and global economic growth, a CBI survey showed on Wednesday.
UK wage growth and employment improve, lifting BoE hike chances
UK wage growth and employment levels are picking up more than expected, though there may be enough holes in the numbers for the Bank of England to "look through" the data and avoid raising interest rates yet.
Fund managers' pessimism on UK at record high, BofA-Merrill says
Fund managers were still 'long' on equities, despite rising worries over trade and stagflation, thanks to optimism on the outlook for earnings and interest rates, the results of a widely-followed poll showed.
UK inflation cools off more than expected ahead of BoE meeting
UK inflation cooled off more than expected last month, but economists were divided over whether it would reduce the pressure on the Bank of England to raise interest rates ahead of the policy meeting this week.
Credit Suisse revises year-end 2018 target for MSCI AC World higher
Credit Suisse's equity strategy team led by Andrew Garthwaite has marked-up its year-end 2018 target for the MSCI AC World index from 614 points to 628 points, despite the current "extreme" equity valuations on offer on an absolute basis.
Senators call for Facebook hearing amid election "integrity" concerns
Senators Amy Klobuchar and John Kennedy have issued a joint call to Senate Judiciary Committee chairman Chuck Grassley to hold a hearing with the chief executives of Facebook, Google and Twitter.
UK agrees Brexit transition deal with EU, loose threads remain
Britain and the European Union have agreed a 21-month Brexit transition deal to smooth the break-up after March 2019, though the Irish border remains one of several issues not yet resolved and it was described by some as "not a decisive breakthrough".
Barclays rallies as Sherborne takes 5% stake
Barclays rallied on Monday as it emerged that Edward Bramson's activist investment fund, Sherborne Investors, has acquired 5. 2% of the voting rights in the bank.
Melrose quickly derides GKN Driveline-Dana plan for London listing
Turnaround specialist Melrose was quick to respond to the latest development in GKN’s quickly-organised breakup on Monday, saying its own final offer of 466p in value today and 60% of future value creation for the whole of GKN was “clearly superior” to the “hasty break-up” being pursued by the GKN board.
US consumer confidence at 2004 high in March but details weaker, UofM says
US consumer confidence moved higher still in March, hitting a 14-year high, but the details of the report appeared to point towards softness in consumption to extend into the second quarter, alongside higher inflation expectations.
Gibraltar will retaliate against EU citizens if Spain uses Brexit veto
The Gibraltar government it has warned it would review European Union citizens’ rights living and working in the Rock if the Spanish government invokes the veto to exclude the region from a Brexit transition deal between the UK and the EU.
Wetherspoon earnings rise as Tim Martin goes on another anti-EU tirade
Pub group JD Wetherspoon posted its preliminary half-year results on Friday, reporting a small 3. 6% rise in revenue before exceptional items to £830. 4m but "remains cautious" about the second half of the year.
Trump's new economic adviser Kudlow sparks new trade war jitters
President Donald Trump’s new chief economic adviser has triggered renewed concerns about a trade war by calling for the US to lead a coalition of nations to stand up to China.
Unilever opts for Rotterdam over London in head office shake-up
Unilever and the UK government have denied the consumer goods giant's decision to base its head office in the Netherlands is a vote of no-confidence in Brexit Britain.
EU softens stance on trade deals as Brexit transition deal nears
European Union negotiators could allow the UK to make free trade deals during the Brexit transition period while remaining in the customs union and single markets, according to reports of the blocs plans ahead of a Sunday trip to Brussels for David Davis.
Prudential announces plan to spin off UK businesses
Prudential announced plans to split off its UK and Europe business as the life insurer posted a rise in annual profit driven by surging sales at its Asian business.
UK expels 23 Russian diplomats over Salisbury nerve agent poisoning
The UK will expel 23 Russian diplomats after the Kremlin failed to explain its involvement in the poisoning of former double agent Sergei Skripal and his daughter Yulia.
Positive surprise on Chinese industrial production at start of 2018
Economic activity in China rebounded at the start of the year, but the latest readings drew a mixed reaction from economists.