The most important news of the last week 27.7.2020
Demand for oil is not recovering as fast as the stock market
Vodafone has stated that it intends to retain a majority stake in Vantage Towers after listing. Vodafone will be the tenant of Vantage Tower, which will provide around 90% of its revenues when launched and aims to add additional long-term tenants to its infrastructure. Earlier this month, Reuters reported that UBS and Morgan Stanley were expected to be underwriters of the initial public offering.
CEO Nick Read said the establishment of the new tower was an important step in his strategy to improve the return on Vodafone assets. "Vantage Towers will unlock additional value for shareholders, particularly through an IPO launched in early 2021," said Nick Read.
Performance of Airbus’s shares (tradingview.com)
Applications for unemployment benefits surprised
At the end of the week, weekly statistics from the US labour market sent a negative signal to the markets, where, surprisingly, a larger number of new benefit applicants increased above analysts' expectations. Their number exceeded 1.4 million. Political news, on the other hand, was also negative when Donald Trump spoke of another possible closure of Chinese consulates and China wants to stop recognizing British overseas (BNO) passports after Britain offered citizenship to the people of Hong Kong. And the faster number of coronavirus victims in the United States, along with the ever-increasing number of new cases, has also not pleased, although markets are less sensitive to these statistics.
It could have a bigger impact on stocks, I think technology companies ... especially if the White House stops giving US companies the freedom to do business with China,” said Stephen Innes, global market chief strategist at AxiCorp. "Growth assets will ultimately be affected by whether geopolitical escalation turns into economic disruption," Innes added.
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