Xiaomi rebound; Trump goes to Europe; Pound watch

Xiaomi rebound; Trump goes to Europe; Pound watch

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1. Rebound in Hong Kong: Xiaomi’s second day as a public firm goes so much higher than its first.

Shares within the Chinese smartphone maker jumped as much as 15% in afternoon buying and selling in Hong Kong on Tuesday. The achieve follows a weak debut on Monday when its shares misplaced as a lot as 5.9% earlier than ending the day down about 1%.

Xiaomi went public after elevating $four.7 billion on the planet’s largest tech IPO since Alibaba’s (BABA) huge New York listing in 2014.

Tuesday’s rally took its shares comfortably above their difficulty value of 17 Hong Kong ($2.17).

2. Trump in Europe: US President Donald Trump is heading to Brussels, Belgium, for the primary cease of his European tour.

The journey features a NATO summit, a gathering with Queen Elizabeth II within the United Kingdom and a sit-down with Russian chief Vladimir Putin in Finland.

Many European leaders have been vocal about their opposition to numerous Trump insurance policies, together with his resolution to impose tariffs on steel and aluminum imports.

Switzerland on Tuesday grew to become the most recent nation to file a criticism over the tariffs with the World Trade Organization.

three. Stock market overview: Global inventory markets have been increased, persevering with the momentum from an enormous rally on Monday.

US stock futures have been indicating modest beneficial properties on the open. European markets superior in early commerce and most Asian markets ended the day with beneficial properties.

On Monday, the Dow Jones industrial average soared by 1.three%, its finest day in a month. The S&P 500 and Nasdaq jumped by zero.9%.

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four. Earnings: Pepsi (PEP) will launch its earnings report earlier than the opening bell.

5. Pound watch: The resignation of two UK government ministers has put the British pound within the highlight.

The foreign money weakened considerably on Monday after Foreign Secretary Boris Johnson introduced his resignation over a new “business-friendly” Brexit plan from Prime Minister Theresa May.

The pound has since recovered a few of its misplaced floor to commerce at $1.33. The benchmark FTSE 100 edged decrease on Tuesday.

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6. Coming this week:
Tuesday — Pepsi earnings
Wednesday — US Bureau of Labor Statistics releases month-to-month Producer Price Index
Thursday — Delta earnings; US inflation information
Friday — Citigroup, JPMorgan Chase, Wells Fargo, First Republic Bank (FRC) report earnings; Consumer sentiment index

CNNMoney (London) First revealed July 10, 2018: four:58 AM ET



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