24 April – 28 April

24 April

With ‘Frexit’ looking like it is off the cards, investors attuned to political risk in the eurozone are turning their attentions back on Italy. Italian assets are enjoying a bounce today, caught up in the broader market euphoria over Emmanuel Macron’s likely ascendancy to the French presidency in less than two weeks’ time.

The Shanghai Composite is down 1.4 per cent, but had been as much as 1.9 per cent lower. It is the index’s biggest one-day fall since falling 2.5 per cent on December 12. The index has not closed more than 1 per cent weaker since that same day.

Asia’s entrenched supply chain makes the prospect of moving significant manufacturing back to automated factories in the developed world an illusion, according to the chief executive of Adidas in comments he said applied across the sportswear industry.

Sanofi’s top scientist has warned uncertainty over pricing, particularly in the US, is making it hard to value acquisition targets, signalling the company will not rush into dealmaking at potentially inflated prices.

25 April

Chinese controlled firms employed 141,000 Americans at the end of last year, a 46 per cent increase over 2015 according to new research published on Tuesday.

Markets have started to price in an Emmanuel Macron presidency, with the centrist candidate seen as a better outcome for the single currency than Marine Le Pen, the far-right leader who is anti-EU. The presidential election is slated for May 7.

Whole Foods shares spiked on Monday after the Financial Times reported that Albertsons, the US supermarket operator controlled by buyout group Cerberus Capital Management, is exploring a takeover of the high-end American grocer.

A growing number of investors are calling on ExxonMobil to report on the possible impact of climate policies on its business, as shareholders seek to push the world’s largest listed oil company into discussing the implications of a faster shift towards a low-carbon economy than it has projected.

26 April

Pumpmaker Weir Group hit a two-year high on Tuesday after JPMorgan Cazenove said investors have underestimated the strength of the shale gas recovery. JPMorgan upgraded Weir to “overweight” with a £21.75 target price. The shares have been among the engineering sector’s weakest performers this year in spite of evidence from peers such as Dover and Sandvik that demand is recovering more swiftly than expected, the broker told clients.

In seeking to scythe the corporate tax rate to 15 per cent Donald Trump can claim to be pursuing longstanding campaign pledges to make the US more competitive and revive economic growth.

Shareholders in Wells Fargo staged a major protest vote against the US bank as the chairman and several directors narrowly survived a rebellion, in the fallout from its sham account scandal.

At the White House Correspondents’ Dinner a year ago, president Barack Obama teased Hillary Clinton over her six-figure speeches to Wall Street banks. “If this material goes well, I’ll use it at Goldman Sachs next year,” he said. “Earn me some serious Tubmans.”

27 April

South Korea’s economic growth accelerated in the first quarter, with the country’s manufacturing sector and exports expanding even as it faced economic fallout from rising geopolitical tensions in the region at the start of 2017.

The European Central Bank risks opening up old divisions on Thursday governing council meeting, as its top officials ponder the consequences of Emmanuel Macron’s performance in France’s presidential election and the increasing health of the eurozone economy.

The Swedish krona is on track for its biggest one-day fall against the euro in six months, after the Riksbank surprised investors by announcing an extension to its bond-buying programme.

Comcast beat Wall Street’s estimates for revenue and profit in the first quarter, powered by growth in its pay-television and internet businesses and strong box office performance for films including the latest installment in the 50 Shades of Grey series.

28 April

Japan’s core consumer prices saw a third straight month of inflation in March – albeit at the same marginal pace – while contraction in household spending moderated and unemployment remained steady.

Taiwan’s economy expanded for a fourth consecutive quarter in the three months to March, lifted by domestic consumption and an increase in exports driven by overseas demand for electronic components.

Hospital operator Mediclinic had its best day on record on Thursday after Abu Dhabi scrapped cost-sharing on private medical treatment. Effective immediately, United Arab Emirates residents with Thiqa medical insurance cover will no longer have to pay 20 per cent of the bill for private treatment, Abu Dhabi crown prince Sheikh Mohammed bin Zayed al-Nahya announced during a hospital visit aimed at promoting medical tourism.

Amazon has started breaking out key logistics revenues in its quarterly earnings, underscoring the growing importance of such services provided for other sellers. The Seattle-based company revealed that these accounted for $6.4bn in sales in the quarter, more than one in every six dollars of revenues during the quarter. Logistics services were the fastest-growing part of Amazon’s retail business, growing 36 per cent from a year earlier on a currency-adjusted basis.