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Latest analysis

The most importatnt news of the last week 12.7.2021

The most importatnt news of the last week 12.7.2021

ECB has new inflation target

On Thursday the European Central Bank revised its inflation target. Current president of bank Christine Lagarde said that the new inflation target is “clear and easy to communicate.”The ECB actually works to gain an inflation level of “below, but close to, 2%.” The more exact term is „"2% per year in the medium level". On July 22 is planned first regular monetary policy meeting of the Governing Council applying this brand new strategy.

Porsche will create hypercar company

The well-known car concern Volkswagen will sell a majority stake in its prestigious French brand Bugatti to the company Rimac. Porsche and Croatian electric car manufacturer Rimac together agreed to establish a joint venture that includes Volkswagen’s Bugatti brand, which was announced in Dubrovnik. Regarding to CNBC, Rimac should acquire a 55% stake in the joint venture and Porsche will hold a 45% stake in the company. Shares of Bugatti will be transferred from Volkswagen.

Volkswagen performance

Performance of 5 years for Volkswagen (Source: Investing.com)

US stocks fell

Thursday was critical for US stocks. Due to uncertainty about the pace of revitalization of the US economy, stocks in the United States have fallen from highs. The increase in the number of new applications for unemployment benefits also brought uncertainty, and the spreading delta variant also adds to the concerns. The most significant decline was recorded by shares of small companies and transport companies.

Chinese debt is growing

Currently, China's debt-to-GDP ratio has climbed to 290%, the debt being relatively the same as in the US and the EU. From the past since 2006, debt has climbed to almost 145% of GDP. One of the main economic catalysts for growth in the case of China has been debt growth in recent years. During the corona crisis, it was impossible for the country to get its debt under control, but today there is new effort to control the state to borrow as little as possible.

Sources: Reuters, Investing, CNBC

The content of this material constitutes marketing communication and should not be considered as any type of investment advice and/or investment research and/or a solicitation for any transactions. This material was prepared for informational/educational purposes only and does not imply an obligation to perform investment transactions nor does it guarantee or predict future performance. BCM Begin Capital Markets Cy Ltd and its relevant persons including affiliates, agents, directors, or employees do not guarantee the accuracy, validity, timeliness, or completeness of any information/data provided by third parties and assume no liability for any loss arising from any investment made based on the said information/data. Past performance is no guarantee of future results.

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Head Analyst

Robert Istenič

Robert graduated from the school of economics in Murska Sobota. He has gained first experience in the sales department of a telecommunication company. His passion for analysis, research and trading at capital markets led him to join ProfitLevel. He has become a senior analyst soon after successful practice of creating and sharing analyses and market news with clients on a daily basis.

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