Elevenses 13th January 2020

– UK economy shrinks, contracting 0.3% in November, although an election month it was still below expectations with weakness in services not just manufacturing
– Sterling fell below $1.30 on interest rate cut speculation after Gertjan Vlieghe spoke to the FT
– US earnings season and it is forecast to be bad news as corporate profits are expected to fall
– Boris Johnson’s Northern Ireland visit in wake of the new Stormont deal
– Iran’s internal protests over the Ukrainian passenger jet incident continue with reports of shots fired
– AstraZeneca $100m writedown after trials of heart disease drug
– Flybe continues after reports of last ditch talks to stop collapse
– Lekoil, London-listed oil producer, shares are suspended after Qatar’s sovereign wealth fund queried a $184m loan agreement

Mild optimism are the equity buzz words, mainly on US/China trade optimism which also saw the Chinese renmimbi strengthen. Easing geopolitical turmoil also helps

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