A pledge by the US central bank, the Federal Reserve, for a massive spending spree of all types of US debt failed to put the brake on the global stock market sell-off, suggesting that investors are looking for huge government spending programmes and not just market-calming initiatives by central banks.
The Brexit gloom lifted helping boost the shares of Irish banks and property firms, as well as the owner of Paddy Power, as investors bet the risk of a crash-out Brexit had receded for the time being.
Global markets appear to have called time on the dangerous game of hardball US president Donald Trump is playing with China, as a plunge in shares, government bond yields, and the price of oil signalled his trade wars could lead to world recession.
The experts predict that a defeat may be snatched from the jaws of victory, with logic lacking in the Brexit negotiations. From local concerns to the international outlook,report on this week’s Brexit progress.
Ferry and freight services business Irish Continental Group (ICG) expects to see continued earnings and revenue growth this year on the back of low fuel prices, but will also see revenues suffer slightly due to the current weakening in sterling.