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Market Commentary – 28.11.2017

November 28, 2017 / admin

  • Chinese President XI Jinping got a lot of applause at the 19th Party Congress but the most enthusiastic was for his line on property. “Houses are for living in, not for speculating,” Xi said.
  • Most U.S stocks advanced while the dollar weakened as investor focus returned to the American economy and tax legislation at the beginning of a week packed with potential market catalysts.
  • The European Central Bank has received another setback in its bid to get tough on Eurozone banks’ problem loans, after a European Council opinion found that its plans to require banks to hold more cash against their non-performing exposures overstepped the bank’s mandate.
  • After roughly half a decade of negative interest rates, the cost of the policy to Danish businesses is becoming increasingly clear—businesses placing deposits in the country’s banks now have annual interest costs of about 437 million kroner ($70 million).
  • Irish deputy PM resigns averting government collapse—Leo Varadkar damaged by row over Frances Fitzgerald as crucial Brexit talks loom.