Brexit is just the beginning, to provide a negative future is the prestigious Financial Times in an editorial signed by Wolfgang Munchau, known for being generous with catastrophic forecasts, prefers the title "Italy could be the next domino piece to fall". Proposing a comparison between the referendum just held in Britain, the date set for October in Italy on constitutional reforms, on which the President of the Council Matteo Renzi has bet a lot, and that the Referendum of 5 Stars leader, Beppe Grillo, has just reiterated it intends to play on the euro, the columnist goes on to hypothesize an Italy out of the single currency.
What will happen next is very difficult to assess, and this lack of visibility is the very reason why markets should remain very volatile and unpredictable over the months to come. Politics will outshine market fundamentals, where the UK and the EU will enter into long and complex negotiations.
The Volkswagen Group, overwhelmed by the scandal Dieselgate last autumn, would be ready to sign an agreement to compensate the 475,000 buyers of cars sold in the US as a non-polluting. Terms of the deal, although not known at the time, would cover only part of the cars sold by the German giant; compensation could even be the record for the largest class action in America, reaching up to 15 billion dollars. Of the total figure, he writes the New York Times, 10 billion will be reserved to purchase vehicles at the prices they had before the scandal broke. The compensation offered to the owners of the cars will go instead from $ 5,000 to 10 thousand, depending on the value of the vehicle before last September, which is the time when Volkswagen admitted publicly that his cars designated as "clean".
Technical analysis is constituted by several operative techniques. One of the most efficient, confirmed also by various academic studies, is the use of relative strength. Relative strenght is a stock selection process that argues that the strongest stocks are the best future performers.
While analysts and traders from New York to London predict a further rise in gold, one of the veterans of the investment, Jim Rogers, states that, after the Brexit, prefers to focus on the dollar as a safe haven and not on the yellow metal. Rogers, like George Soros, was among the founders of the Quantum Fund, the legendary US fund that in the 1970-1980 decade earned 4,200% while the S & P was only 47% advanced. It's also the father of the Rogers International Commodities Index (Rici) at the end of the nineties and works as guest professor teaches finance at Columbia Business School.
According to the Ifo Institute of Economic Research, German business sentiment improved in June, despite all the turmoil caused by the EU referendum in UK. Economists were expecting the reading to disappoint, falling from 107.70 to 107.50, while the actual result was 108.7 points. The German Business Climate is calculated by a number of surveys from different firms and companies in a handful of sectors, such as construction, wholesales, manufacturing, retailing, services, which altogether provide insight on the German economy. The given release is important, as it tends to also provide a preliminary forecast for future economic activity and the economic conditions in the Eurozone overall. Furthermore, the survey consists of approximately seven thousand businesses, which are asked to assess the economic outlook for the upcoming six months.
Iran will sell its oil only accepting Euros as payment, thus cutting out the US dollar; the announcement was made by the Oil Minister Bijan Namdar Zanganeh, the Iranian all-news network Irinn. The choice of a country member of OPEC, the separation from the American currency, it would be the first attempt to do so after several replacement hypothesis; Iran exports 2.3 million barrels per day since part of the Western sanctions were removed.
During his trip to Scotland, Donald Trump wanted to release his first impressions about the Brexit, "appreciating" the choice made by the British people. In an interview with Italian newspaper La Stampa said that "The people in the UK have claimed their independence, the right to decide how to govern the country and determine their own destiny. It seems to me that this is a positive thing in general. The crumbling of Europe instead is a fact, not my opinion. It depends on the errors committed by its inadequate leadership.
Brexit could bring to bear its effects already on the next vacation. And for airlines, especially low-cost, the risk of burdening the next half revenues. The alarm was launched by EasyJet, which expects "that revenue per seat at constant exchange rates, in the second half of the year will fall by at least 5% compared to the second half of 2015". The British airline also said it expected a negative impact of 28 million pounds in profit before tax for the third quarter due to strikes outages, congestion Gatwick and Egyptair tragedy that has caused a decline in demand.
"Now the catastrophic scenario feared by many has materialized, making the collapse of the EU almost irreversible," - Soros wrote in a commentary published on the website of the newspaper consortium "Project Syndicate". The investor also spoke about the possible consequences exit of Britain from the EU and in relation to Friday's vote, his opinion does not require many interpretations.
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