Softbank ¥ per share ('000)

Biden wins election, SoftBank earnings, US inflation data

Much of this week will be focused on Joe Biden’s plans after winning the White House race.

The president-elect spoke of his intention to “restore the soul of America” ​​during a victory speech in which he called on the country to come together after one of the most controversial periods in US history.

The main focus will be on how Mr Biden’s approach to tackling the coronavirus pandemic will affect world markets alongside domestic and foreign policy.

The Turkish economy will be in the spotlight again after President Recep Tayyip Erdogan sacked the country’s central bank governor for the second time in a little over a year, stepping up the stake on the lira, which has slipped to new lows in recent weeks is.

Due to the coronavirus, the ECB is organizing its annual online forum for the central banks, in which a large number of big names should speak.

McDonald’s and Walt Disney are two of the big names US investors will be watching, while retailer WHSmith and pub chain JD Wetherspoon will catch the eye on UK commercial network ITV.

Inflation will be the data point observed in the US this week. China has also released economic indicators showing the post-Covid-19 recovery is continuing, while the pandemic is likely to be felt when the UK’s growth and employment figures are released.

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Elsewhere. . .

  • EU foreign ministers will meet practically on Monday to discuss future trade relations with the US after last week’s presidential elections. Also on the agenda are World Trade Organization reform, the bloc’s approach to China and Brexit

  • The US Supreme Court is expected to hear on Tuesday of a case that questions the legality of Obamacare bill

  • Manhattan federal court is holding a status conference on Monday for the US government’s criminal case against Steve Bannon and three other co-defendants

  • French President Emmanuel Macron will attend the opening ceremony of the Paris Peace Forum on Thursday

Company news and earnings

technology

Chinese gaming giant Tencent reports its third quarter results on Thursday in Hong Kong. The Trump administration previously targeted Tencent’s WeChat messaging app with restrictions to review national security risks.

Chip manufacturer minimum wage, which is also one of China’s leading technology groups that have come under Trump’s stranglehold, informed investors in Hong Kong on Thursday.

Analysts will also pay attention PalantirThe results, released Thursday when the US technology group recently spoke with the UK government about implementing the Track & Trace program. However, the move was deemed controversial and privacy activists criticized the lack of transparency in the contract process.

Cisco, the largest manufacturer of routers, German group Siemens and Japanese online retailer Rakuten Report on the same day.

American fantasy sports outfit DraftKingsMichael Jordan, who was on the news recently when he bought an 8 percent stake, is expected to release his third quarter results on Friday.

Financially

Japanese group SoftBankThe company, which has been pursuing an asset sale program since March and is considering the possibility of a possible delisting of its own shares, is due to report on Monday.

Brookfield Asset Management and Italian insurer Generali insurance Report on Thursday followed by Mitsubishi UFJ on Friday.

Food and beverages

Investors will pursue Beyond meatThe earnings trend on Monday after the US meat substitute manufacturer announced further expansion in the world market and opened production facilities in China.

MC Donalds will also post results the same day it tries to bounce back from last quarter when it reported its lowest quarterly profit in 13 years. The burger chain has suffered the effects of the pandemic and is currently dealing with a lawsuit from black ex-franchisees.

UK food manufacturer Premier Foods, which saw sales jump and its share up 20 percent after shoppers stocked up on closet adhesives during the initial lockdown, reported Tuesday.

sale

Sporting goods manufacturer Adidas will publish its profits on Tuesday together with Persil-maker handle.

WHSmithThe high street and travel retailer is expected to release its fourth quarter results on Thursday after seeing sales plunge more than 90 percent in April and May. Sales still fell 75 percent in July despite reopening stores. Nippon Paint closes the week with his winning call on Friday.

energy

After the oil price crash earlier this year, analysts expected a wave of after-tax impairments by oil producers of up to $ 300 billion. The highly indebted group Occidental Petroleum, which announced a write-off of up to $ 9 billion in June, will update investors on Tuesday.

German energy company Uniper also reported that day, followed by National Network on Thursday.

Japanese manufacturing group Yamaha engine, French high-speed rail manufacturer Alstom, German auto parts manufacturer Continental and Nissan engine publish their results this week.

Other companies report Walt Disney, Fashion group Burberry, ITV, Britain’s largest free-to-air commercial broadcaster, the British pub chain JD Wetherspoon and developers Land Securities.

Central banks

The European Central Bank’s annual forum begins on Wednesday, when policy makers virtually gather for a two-day event.

The Bank’s President, Christine Lagarde, will deliver a welcome address on the forum on Wednesday and attend a policy panel on Thursday, which will be attended by Federal Reserve Chairman Jay Powell and Bank of England Governor Andrew Bailey .

The BoE expanded its bond-buying program last week, adding an additional £ 150bn as concerns mount about the impact of a second wave of Covid-19 and the prospect of a no-deal Brexit.

New Zealand meets on Wednesday and is expected to keep rates at 0.25 percent.

Mexico is expected on Friday and Peru is expected to be on hold at 0.25 percent on the same day.

Analysts forecast Egypt will withhold both loan and deposit rates on Friday.

Economic indicators

Analysts will continue to be on the lookout for signs of a recovery in the US economy as consumer price data releases on Thursday and US consumer sentiment data on Friday.

Inflation is expected to rise for the fifth straight month, up 0.2 percent month-on-month from the 0.4 percent increase in August, but year-over-year inflation remains below the Fed’s 2 percent target.

Line chart of US 10-year break-even rate,% shows inflation in the markets is well below the Fed target

China’s consumer price index was also released this week, but the economists polled by Bloomberg only forecast an increase of 0.8 percent year-on-year for October.

In contrast to the industrial activity that fueled China’s recovery this year, consumers have been less likely to resume their spending habits due to the uncertain global outlook.

The preliminary figures of the UK gross domestic product for the third quarter and the unemployment rate for September are to be released. Analysts expect GDP to rebound on Thursday after the UK economy contracted a fifth in the last quarter.

The National Statistics Office released working numbers on Tuesday that are likely to be affected by recent coronavirus containment measures.

further reading

Market questions: will the US economy continue to strengthen?

Additional reporting from Julian Vickers