Xiaomi rebound; Trump goes to Europe; Pound watch

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1. Rebound in Hong Kong: Xiaomi’s second day as a public firm goes quite a bit higher than its first.

Shares within the Chinese language smartphone maker jumped as a lot as 15% in afternoon buying and selling in Hong Kong on Tuesday. The achieve follows a weak debut on Monday when its shares misplaced as a lot as 5.9% earlier than ending the day down about 1%.

Xiaomi went public after elevating $four.7 billion on the earth’s greatest tech IPO since Alibaba’s (BABA) big New York itemizing in 2014.

Tuesday’s rally took its shares comfortably above their concern value of 17 Hong Kong ($2.17).

2. Trump in Europe: US President Donald Trump is heading to Brussels, Belgium, for the primary cease of his European tour.

The journey features a NATO summit, a gathering with Queen Elizabeth II in the UK and a sit-down with Russian chief Vladimir Putin in Finland.

Many European leaders have been vocal about their opposition to numerous Trump insurance policies, together with his determination to impose tariffs on metal and aluminum imports.

Switzerland on Tuesday grew to become the newest nation to file a criticism over the tariffs with the World Commerce Group.

three. Inventory market overview: World inventory markets had been greater, persevering with the momentum from an enormous rally on Monday.

US inventory futures had been indicating modest good points on the open. European markets superior in early commerce and most Asian markets ended the day with good points.

On Monday, the Dow Jones industrial common soared by 1.three%, its greatest day in a month. The S&P 500 and Nasdaq jumped by zero.9%.

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four. Earnings: Pepsi (PEP) will launch its earnings report earlier than the opening bell.

5. Pound watch: The resignation of two UK authorities ministers has put the British pound within the highlight.

The foreign money weakened considerably on Monday after Overseas Secretary Boris Johnson introduced his resignation over a brand new “business-friendly” Brexit plan from Prime Minister Theresa Might.

The pound has since recovered a few of its misplaced floor to commerce at $1.33. The benchmark FTSE 100 edged decrease on Tuesday.

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6. Coming this week:
Tuesday — Pepsi earnings
Wednesday — US Bureau of Labor Statistics releases month-to-month Producer Value Index
Thursday — Delta earnings; US inflation information
Friday — Citigroup, JPMorgan Chase, Wells Fargo, First Republic Financial institution (FRC) report earnings; Client sentiment index

CNNMoney (London) First printed July 10, 2018: four:58 AM ET

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