09 October – 13 October

09 October

Thai Airways jumped on Monday after Thailand’s aviation authority said the International Civil Aviation Organisation had removed a red flag against the country for its safety record.

Chinese stock markets opened higher on Monday as investors returned from a week-long national holiday, while Australian equities climbed on gains in the materials sector.

US stock futures edged higher on Monday, with little on the economic calendar front to keep traders on their toes and banks and the bond market closed for the Columbus Day holiday.

Gold was up again on Monday as a Russian report on North Korea’s long-range missile ambitions from Friday kept the metal’s safe-haven status in play.

10 October

France has hardened its position against any changes to international banking rules that would result in higher capital ratios, just days before crunch talks.

The world’s biggest exchanges have reached a collective solution to their biggest problem of recent years — how to make more money beyond their unpredictable core businesses? As public companies, they are under pressure from shareholders to increase profits. But volatility in trading, normally the industry’s lifeblood, has been low for several years. Antitrust regulators have also prevented some mergers aimed at achieving economies of scale in transactional costs, such as the abortive merger of London Stock Exchange Group and Deutsche Börse.

LVMH kicked off the earnings season for the luxury goods sector by beating analyst consensus and recording €10.4bn of revenues in the third quarter of this year.

Singapore’s financial regulator has said it takes a “serious view” of the issues Standard Chartered is under investigation for, and will “take firm action against any financial institution or individual” that breaches money laundering rules or facilitates terrorism financing.

11 October

The eurozone’s economic powerhouse continues to thrive. Germany’s economy is expected to grow by an impressive 2 per cent this year and 1.9 per cent in 2018, according to forecasts commissioned by the Federal Government.

China and South Korea have failed to extend their $56bn currency swap deal amid diplomatic tension over Seoul’s instalment of a controversial US missile shield.

Ebay’s UK business paid £1.6m in tax last year, despite the ecommerce company reporting to shareholders that it registered more than $1.3bn in revenues in Britain over the same period.

LG Electronics rose as much as 7.5 per cent on Wednesday after the company estimated its third quarter operating profit jumped 82 per cent on strong sales of premium home appliances.

12 October

Dovish minutes from the Federal Reserve’s September meeting revealed policymakers fears that low US inflation was not “transitory”, casting doubt on the likely pace of the central bank’s rate tightening policy, leaving the greenback exposed.

When Fernando Coelho Filho, Brazil’s minister for mines and energy, was asked on television this month about privatising Petrobras, the state-controlled oil producer, he could not have known the stir he was about to cause.

Sydney-listed mining groups were taking a hit in Thursday trade as a drive to limit steel production in China during the winter continued to undermine demand for iron ore.

Pharmaceutical company Sanofi says it is investing €170m to expand an influenza vaccine production facility in France.

13 October

Kobe Steel confirmed on Friday it falsified quality inspection data on steel wire but said it had confirmed with a customer that there were no problems with the product.

Chevron has walked from an exploration program off the southern Australian coastline, blaming the low oil price for the decision.

Sterling is back on the front foot on Thursday, reversing a 0.8 per cent decline to trade up 0.4 per cent at $1.3280 – the highest level in six days.
China’s export growth came in lower than forecast in September as an unexpected jump in the value of imports resulted in the country’s smallest trade surplus in half a year. But the latest data also showed the largest nominal trade surplus with the US on record, based on figures dating back to 1993.