Summary for the 15th of October


China’s balance of trade shows a fall in exports by 3.2 percent, comparing to a year ago and the imports fall by 8.5 percent, the first fall since May this year. China is the largest contributor to world economic growth, through the weaker imports, China’s economic decline is affecting the rest of the world economy, such as the Euro area. The Euro area’s industrial production for August has risen by a little more than the markets have expected. The industrial production in the Euro area has been weakening since the start of 2018.

Finland is currently holding the council of the EU presidency. At a press conference with the European Council President elect, Charles Michel, the Finnish prime minister, Antti Rinne, says that The EU needs more time to reach a Brexit agreement. Boris Johnson is hoping to seal a Brexit deal before the EU summit on Thursday, so that he will be able to present it to the British Parliament on Saturday for approval, in doing so, he won’t need to postpone Brexit’s deadline of 31st of October. Though, Johnson’s suggested changes on the Northern Ireland’s border policy seem to require more time from the EU leaders to make approval on the changes.

The US has imposed sanctions on several of the Turkish ministries. President Donald Trump says that he will raise tariffs on Turkish steel to 50 percent, and that he is prepared to swiftly destroy Turkey’s economy if the country continues with the military offensive into Syria.

Indices for 15th of October
Dow: -0.1 % (14th of October)
S&P 500: -0.1% (14th of October)
Nasdaq: -0.1% (14th of October)
Nikkei: +1.8%  (15th of October)
Chinese indices: -1%. (15th of October)
STOXX Europe 600 Index: +1.11% (15th of October)

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