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Archive for 1. November 2018

The Big Tech Selloff

Posted by hkarner - 1. November 2018

Date: 01-11-2018
Source: The Wall Street Journal By The Editorial Board

Why the fall from super-high values shouldn’t hurt the larger economy.

Herbert Stein famously observed some 40 years ago that what can’t continue won’t, which bears remembering as tech stocks fall following a fantastic nine-year run fueled in part by the Federal Reserve. Americans no doubt wish that stocks could climb forever, but the tech selloff looks like a healthy correction.

Stocks bounced back Wednesday, but before that the tech-heavy Nasdaq had slumped 12% since its August peak. Falling FAANG stocks— Facebook , Apple, Amazon, Netflix and Google parent Alphabet—have swung the S&P 500 into a correction zone. Netflix tumbled 21% and Amazon fell 20% in October. Texas Instruments , IBM and Nvidia have also seen substantial stock price declines.

A tech revaluation was perhaps inevitable as prices leapt over earnings like LeBron James over Kevin Durant. Amazon’s stock in September was trading at nearly 160 times earnings, which wasn’t going to last. But what makes this month’s tech sale so jarring is that it comes amid strong quarterly earnings growth. Den Rest des Beitrags lesen »

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EU prepares for a no-deal Brexit amid lack of progress on talks

Posted by hkarner - 1. November 2018

Date: 31-10-2018
Source: The Guardian

EU seminars will cover citizens’ rights, transport, border controls and financial services

European Union diplomats do not expect the EU chief negotiator, Michel Barnier, and the UK to resume talks this week.

The European Union is pressing ahead with plans for a no-deal Brexit, amid uncertainty about when high-level negotiations will resume.

With 149 days until Brexit day, time is running out to secure a deal that the British government wants to nail down this autumn, to allow time for the agreement to gain assent from parliament and the European parliament.

EU diplomats meeting on Tuesday agreed to hold a series of no-deal planning seminars in November, covering citizens’ rights, aviation, ground transport, customs, border controls and financial services.

Senior British and EU officials are in constant contact and neither side has given up on a special Brexit summit in mid November to strike a deal. With British politics focused on the budget, EU diplomats do not expect talks between the EU chief negotiator, Michel Barnier, and the Brexit secretary, Dominic Raab, to resume this week.

Some European officials see a growing risk of sliding into an accidental no-deal, if the British parliament votes down any agreement the embattled prime minister strikes with the EU.

Philippe Lamberts, a Belgian MEP, who sits on the European parliament’s Brexit steering group, said he had become more pessimistic about a Brexit deal, following Theresa May’s speech to parliament last week, where she again rejected the EU proposals on Ireland, which the EU sees as reneging on earlier agreements. “Since the British government started backtracking on its commitments in the joint report [of December 2017] I have become less optimistic about a deal being clinched,” he told the Guardian. Den Rest des Beitrags lesen »

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Rom bereitet Bankenrettung vor

Posted by hkarner - 1. November 2018

Dank an J.G.
31. Oktober 2018, 07:00, derstandard.at

Italiens Regierung trifft Vorkehrungen für Bankenhilfen. Immer mehr vermögende Italiener bringen ihr Geld in die Schweiz und auch nach Österreich

Rom – Regierungschef Giuseppe Conte hat Wirtschaftsminister Giovanni Tria mit der Vorbereitung von Bankenhilfen beauftragt. Rom will vorerst die Ergebnisse des Stresstests für Banken vom 2. November abwarten. Bereits der vorige Premierminister Paolo Gentiloni hatte einen Bankenrettungsfonds in der Höhe von 20 Milliarden Euro eingerichtet, wovon noch 15 Mrd. genutzt werden können. In den Genuss des Fonds sollen primär die Krisenbanken Carige, Monte dei Paschi di Siena (MPS), die Volksbank von Bari und der Credito Valtellinese gelangen.


Mehrere Vermögensverwalter berichten derweilen von einer wachsenden Kapitalflucht vermögender italienischer Familien Richtung Schweiz und Österreich. Und Italiens Anleger werden immer skeptischer: Laut monatlicher Umfrage des Analysehauses Sentix bei mehr als 1000 Anlegern in der Eurozone hat sich der Anteil der Investoren, die ein Ausscheiden mindestens eines Landes aus der Eurozone innerhalb der nächsten zwölf Monate erwarten, von 8,9 auf 13,2 Prozent erhöht. In Italien liegt der Anteil über dem Schnitt: 15,1 Prozent der befragten Privatanleger halten einen Austritt Italiens aus der Eurozone in der Zeit für möglich. Den Rest des Beitrags lesen »

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