November, 2019

• 13 November

  Oil falls amid concerns over trade disputes

  

  BloomBerg Oil fell for a third day amid concerns over the US-China trade dispute, and signs of another increase in American crude stockpiles. Futures declined as much as 1.1% in New York. President Donald Trump’s speech disappointed investors after he gave little insight on how the impasse with Beijing will be resolved, and warned of higher tariffs if a deal …

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• 13 November

  Hub71, Saudi’s Misk Foundation ink MoU for cross-market access

  

  ABU DHABI / WAM Hub71, Abu Dhabi’s global tech ecosystem, signed a Memorandum of Understanding (MoU) with Misk Foundation – during the three-day Misk Global Forum in Riyadh – that outlined steps towards creating a more dynamic market for startups between the UAE and Saudi Arabia. The MoU outlines steps towards building a larger shared ecosystem aimed at helping startups …

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• 13 November

  France backs European bank mergers before key meeting

  

  Bloomberg France added to the growing chorus of lawmakers and executives seeing consolidation as an avenue to revive Europe’s ailing banks, ahead of a key meeting that may jumpstart a plan to create a single market for the industry. Prime Minister Edouard Philippe, speaking in an interview in Paris, said mergers to create “critical-size, global actors” in European finance would …

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• 13 November

  Brexit’s derivatives spat needs urgent fix: Banks

  

  Bloomberg The world’s biggest banks pressed policy makers to pass an urgent Brexit fix to ensure European traders’ access to London derivatives clearinghouses and avoid rupturing 61 trillion pounds ($78 trillion) in contracts. The industry’s top lobbying associations told the European Commission, the European Union’s executive arm, that it must act fast or risk turmoil when the stopgap solution elapses …

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• 13 November

  New Zealand keeps interest rates unchanged

  

  Bloomberg New Zealand’s central bank (RBNZ ) left interest rates unchanged — defying widespread expectations of a cut — saying there are signs the domestic economy will stop slowing and that inflation will pick up. The local currency jumped. “Economic developments since the August Statement do not warrant a change to the already stimulatory monetary setting at this time,” the …

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• 13 November

  Canada’s Home Capital group makes comeback

  

  Bloomberg It took two years, but Home Capital Group Inc shares have regained all their lost ground since the Canadian alternative mortgage lender almost collapsed in 2017. Home Capital has doubled this year to become the sixth-best performing stock on Canada’s benchmark S&P/TSX Composite Index. The Toronto-based lender closed at C$29 on the Toronto Stock Exchange for a market value …

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• 13 November

  ECB picks Bank of France director for key position

  Bloomberg The European Central Bank (ecb)appointed Imene Rahmouni-Rousseau, a director at the Bank of France, as its next chief of market operations — a key role in implementing monetary policy following the resumption of quantitative easing. Rahmouni-Rousseau will take over as Director General Market Operations on February 1, replacing long-time chief Ulrich Bindseil, who now heads market infrastructure and payments …

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• 13 November

  Citi says rehiring ex-trader after acquittal is non-starter

  

  Bloomberg Citigroup Inc said the prospect of rehiring a former trader after he was acquitted of rigging foreign-exchange markets last year is a “non-starter” following the “clearest possible breakdown in trust and confidence.” Rohan Ramchandani was fired after a swift investigation by the bank into his chatroom messages and is suing the bank in an employment tribunal in London, asking …

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• 13 November

  Stocks drop, bonds climb as investors weigh trade

  

  Bloomberg US equity-index futures retreated with stocks in Europe and Asia on Wednesday as investors digested President Donald Trump’s latest comments on trade as well as ongoing unrest in Hong Kong. Treasuries led a bond rally. Contracts on all three main American gauges pointed to a drop at the open after the S&P 500 closed just shy of a record …

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• 13 November

  Spain overtakes Britain as Europe’s worst stock market

  

  Bloomberg Just as Spanish stocks were starting to rally towards this year’s highs, a coalition with an anti-austerity political party is dampening the mood once more. The benchmark IBEX 35 Index is down 2.5% since the vote that left the ruling Socialists weaker, forcing them to seek a coalition with an erstwhile foe. Only last week, the measure rose to …

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