Thursday , November 26 2020

Daily Info: Raab to Northern Ireland, the Brexit case



LONDON (Reuters) – Britain's Brexit minister, Dominic Raab, is now headquartered in Northern Ireland with its Brexit deal, which is still relying on future agreements on the Southern Irish border.

FILE PHOTO: State Secretary for Exit from the European Union Dominic Raab arrives in Downing Street on October 29, 2018

It is steadily growing around a scenario that keeps the UK as a whole in a customs union with the EU, while finding a somewhat more permanent solution in the future. This is a compromise that now risks the rebellion of the tough, insurgent Brexit in parliament.

According to media reports and yesterday's British sources, PM Theresa May is close to reaching an agreement in Brussels that would allow UK financial service companies to access EU markets after Brexit.

For May, this would be a victory that would reinforce the argument that his deal, though not perfect, is best on the table. Raab was confident that the contours of the agreement were now in place and told the legislators that they could meet with them on 21 November.

Downing Street has been distanced from this timetable – but the impression remains that the United Kingdom site at least thinks the agreement is already visible.

German Angela Merkel travels to Warsaw today to hold joint talks with the Polish Eurosceptic government. To what extent you use your trip to express concerns about the rule of law and democracy in the country.

The wider question when Merkel announced his withdrawal from politics is whether or not he will have some influence during his foreign visits for the rest of his term of office.

Some of your negotiators feel polite to nod and wait for their successor to engage in any important business – especially since he has doubts as to whether his coalition will do much next year.

Markets at 0755 GMT

The resumption of the red global stock market in October continued on Friday, indicating that the icy American and Chinese trade relations will break. US President Donald Trump on Thursday, with Chinese President Xi Jinping, and the two meetings at the G20 in Buenos Aires, expected later this month and hoping that the two nations will be resolved.

After the steep fall of last month, stocks are restored. The MSCI world index is 3.6 percent higher this week, the best week since February and the last five weeks in several years.

Other asset markets are expected as investors feel better: the dollar is softer, bond yields are higher, loan interest rates are shrinking and emerging markets are restored. Not quite sweet and easy – following a series of low production and service packages, Apple's shares fell by 7 percent in after-hours trading after the technical giant said it would not count on sales units and that Christmas sales lower than expected.

Friday's large-scale data transmission is the October US employment report, while attention in Europe is the result of recent benchmark stress tests and third-quarter revenue season for further corporate results.

European stock exchanges are in relief on Wall Street and Asia in the commercial war. The most commonly used suspects in the news include the German DAX and its huge exporters, but also the automakers who were high-ranking victims of Trump's commercial policy.

Technical stocks are likely to struggle for fun. Apple's results were obviously not encouraging, but they may not be so bad – Asian iPhone suppliers have taken the news.

European banking stress tests are nowadays the most important, but this section is largely curtain-making since the results are only expected after closure. Leaks show some excitement: during stress tests, "huge" in Banca Carige was reported in a sample of six Italian medium-sized creditors, Il Sole 24 Ore. Italian creditors obviously highlight their heavy exposure to the Italian sovereign debt, which suffers from populist government spending plans.

Ukrainian President Petro Poroshenko and German Chancellor Angela Merkel will review the honorary prize at the Kiev celebration ceremony on 1 November 2018

Other stock exchangers: Austrian lender Erste Group has a higher than expected 25 percent increase in third-quarter net profit, which is characterized by strong performance in Eastern Europe. Barclays was picked by Nigel Higgins, Vice President of Rothschild & Co, the next president of the company. According to IAG, the owner of British Airways, the financial targets for 2019-2023 remained unchanged over the previous period.

Emerging market stocks show the biggest weekly jump in nearly three years, 6.2 percent, and emerging market currencies are higher on the board.

– European Economic and Political Editor Mark John and EMEA Market Leader, Jamie McGeever's Day. The views expressed by them –

Standards:Thomson Reuters Trust Principles.

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