International News (Issue 454) – June 23rd, 2017

International News (Issue 454) – June 23rd, 2017

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International News (Issue 454) – June 23rd, 2017

In the international space, it seems not a day goes by where Amazon does not dominate the headlines.

Amazon’s announcement that it will acquire upscale supermarket chain Whole Foods for nearly $14b is a big deal.

Amazon will inherit 450 stores in the deal giving it a physical presence but its greatest competitive advantage is not its e-commerce network; it is its innovation engine.

Naturally, shares in Costco, Walmart and Kroger all tumbled on this news.

Still on Amazon, Nike Inc announced overnight that it intends to finally sell some of its products directly to Amazon, having refused for many years to buckle to the pressure.

The deal gives Nike better control over regulating the sale of knockoffs from third-party sellers and provides Amazon with a new source of revenue in the footwear and apparel market.

On another note, China has finally been added to the MSCI Emerging Markets index. MSCI will add 222 Chinese A large cap stocks on a gradual basis beginning next year although these additions only represent 0.7% of the overall index.

Thursday Closing Values

Index Change %
U.S. S&P 500  2435  +3  +0.1
London’s FTSE 7439  +20  +0.3
Japan’s Nikkei  20111  +279  +1.4
Hang Seng  25675  +110  +0.4
China’s Shanghai  3147  +15  +0.5

 

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 | 2017-06-23T15:01:17+10:00 June 23rd, 2017|International News|0 Comments

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