31 October – 04 November

31 October

The dollar is gaining and stock markets are slipping in uneasy trade as investors brace for a series of policy meetings for central banks this week and the US presidential vote on November 8.

CenturyLink on Monday unveiled plans to buy Level 3 Communications, which runs infrastructure that allows businesses connect to the internet, in a $34bn deal.

General Electric is to combine its oil and gas business with Baker Hughes, the oilfield services group, to create a global heavyweight in oilfield technology with combined annual revenues of around $32bn and operations in more than 120 countries More Help.

Since the BoJ’s ‘Halloween special’ of 2014, the central bank has been hoovering up assets to the tune of ¥80 trillion per year ($762.4bn). For a while, the enlarged programme was working, weakening the yen to about ¥125 per dollar by 2015.

1 November

The Bank of Japan says it will not reach 2 per cent inflation before the end of Haruhiko Kuroda’s term as governor in a stark illustration of its struggle to escape the country’s entrenched deflation.

The chief executive of Atlantia, one of the world’s largest toll road operators, has branded the US industry immature, fragmented and vulnerable to political interference, in a sign of the barriers to investment in the sector.

Veteran investor Guy Hands has sold the landfill gas division of renewable energy group Infinis for £185m plus debt to 3i Infrastructure. The deal covers Infinis’s 121 sites throughout the UK that make electricity from the gas emitted by rotting rubbish. Together they have a combined generation capacity of around 300MW, forming the largest landfill gas business in the country.

he Mexican peso is finally taking a breather. After plunging as much as 1.4 per cent against the US dollar on Friday after the FBI said it opened a new investigation into emails related to Hillary Clinton, the peso was up 0.7 per cent on Monday to 18.9 after Mexico’s economy made a strong recovery in the third quarter.

2 November

Less than one week remains in the US presidential election, and financial markets are spooked as polls tighten amid a flood of fresh controversies. Mostly, investors fear a victory by Republican candidate Donald Trump.

The European Central Bank’s landmark monetary stimulus measures are no longer “appropriate” for the eurozone’s moderate economic recovery, one of Germany’s most influential group of economists has warned, arguing they threaten to put the future of the European project at risk.

Drugmaker Pfizer cut its earnings outlook on the back of bad news about two potential blockbusters: a new cholesterol-lowering treatment fell short in late-stage trials and a breast cancer drug that saw slower than expected sales.
The Japanese yen was slightly weaker against the US dollar in morning trading after the Bank of Japan kept its monetary policy on hold as widely expected, but later reversed and rose 0.5 per cent to 104.3, its highest level in a week.

3 November

Buckle up peso traders, Thursday is shaping up to be another volatile day of trading for Mexico’s national currency. The peso, which has taken on the informal title of the market’s favorite proxy for betting on the US presidential race, has in the span of four and a half hours swung from a 0.9 per cent loss against the dollar, to a 0.6 per cent gain and – after more whipsawing – is now trading 0.5 per cent higher at 19.27 per greenback.

Super Thursday arrives for the Old Lady of Threadneedle Street. Along with the Bank of England’s monetary policy announcement comes its quarterly Inflation Report — the most detailed review of thinking on the UK economy since June’s referendum in favour of leaving the EU.

Stocks across Asia were creeping higher on Thursday, taking the growing prospect of a December rate rise from the Federal Reserve in their stride and also overcoming some of the uncertainty around the US election that unsettled Wall Street overnight.

Whole Foods shares rallied in extended trading after the upscale grocer said it was doing away with its co-CEO structure that has been in place since 2010, naming John Mackey the company’s chief executive. That accompanied upbeat fiscal fourth quarter profits and disappointing comparable sales.

4 November

The British pound has had its best week since last March after a shift in political risk over Brexit. Buyers have pushed sterling towards $1.25 this week, its highest level since the “flash crash” of October 7. The change comes after Mark Carney, the Bank of England governor, announced he was staying in office until 2019, and the High Court ruled ag

The lira’s record-breaking slide has continued, with the Turkish currency weakening to 3.15 per dollar for the first time as EU leaders warned that the government’s latest crackdown on opposition could “compromise parliamentary democracy” in the country.

On November 2 Simon Henry, the chief financial officer of Royal Dutch Shell and one of the most respected figures in the industry, told analysts on a conference call for the Shell results presentation that he believed “oil demand will peak before supply and that peak may be between five and 15 years hence”. I think he is right, and that the peak of demand will come within five years and possibly by 2020. The reasons for what sounds like a very radical challenge to the conventional wisdom are clear and the advance warning signs are already evident in the data.

US crude fell below $44 per barrel for the first time since September 20 and oil-linked currencies tumbled amid growing scepticism over Opec’s ability to implement the preliminary agreement reached last month to cut production among the world’s major producers.