Maitland/AMO Morning Monitor – Friday 9 July 2021

9th July 2021

In the news

  • Boris Johnson has ordered a review into the £65m sale of Newport Wafer Fab to Chinese-owned Nexperia.
  • The European Central Bank has set a new 2% inflation target.
  • The Inter-Parliamentary Alliance on China has accused HSBC chairman Mark Tucker of prioritising profit over upholding international law.
  • The Financial Conduct Authority has fined Lloyds £90m for sending millions of misleading letters to customers in its home insurance arm.
  • Two senators have called on the Securities and Exchange Commission to investigate whether Didi Chuxing misled investors ahead of its IPO.

Politics today

  • The G20 meets in Venice today, with a proposed global corporate tax top of the agenda.

Stock market moves

  • In the US, the S&P 500 dropped 0.86%.
  • In Asia, Hong Kong’s Hang Seng Index rose 0.98% while China’s Shanghai Composite index declined 0.02%.
  • In Europe, the FTSE 100 is up 0.47% and the STOXX 600 is marginally down in the early hours of trading.