International News (Issue 449) – May 19th, 2017

International News (Issue 449) – May 19th, 2017

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International News (Issue 449) – May 19th, 2017

I made mention of Wednesday night’s sell-off and the CISCO Systems disappointing profit report earlier.

Though it might seem like the Trump/Comey situation was the pick of the political news-flow this week, arguably the Brazilian political scandal tops that.

On Thursday night, the Brazilian share-market lost -9% and its currency the Real collapsed a further -9% on press reports its new President (Temer) was involved in the cover up of a payment to the currently imprisoned former speaker of Brazil’s lower house.

The news was a huge shock to investment markets and comes only a year after the removal of the previous President Dilma Rouseff under similarly questionable behavior.

Investors fear the new bout of political turmoil will switch the focus away from much-needed economic reforms.

Have a great weekend.

Jono & Guy

Wednesday Closing Values

Index Change %
U.S. S&P 500 2365 -29 -1.2%
London’s FTSE 7436 +49 +0.7%
Japan’s Nikkei 19553 -409 -2.0%
Hang Seng 25136 +10
China’s Shanghai 3090 +28 +0.9%

 

Disclaimer:

This information has been prepared by Primestock Securities Limited ABN 67 089 676 068, AFSL 239180 (“Prime”). Prime accepts no obligation to correct or update the information or opinions in it. This information does not take into account your objectives, financial situation or needs. Before acting on this information, you should consider whether it is appropriate to your situation. It is recommended that you obtain financial, legal and taxation advice before making any financial investment decision. Prime is bound by the Australian Privacy Principles for the handling of personal information.

 

 

 

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By | 2017-06-16T15:16:08+10:00 May 19th, 2017|International News|0 Comments

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