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Market Round Up: Apple Turnover 📱 – Brexiteers get Euro fillip 🎁

by | 14 Sep, 2018

 

1. Apple turnover

Great excitement in Cupertino as Apple’s CEO, Steve Cook, announced the new XR, XS and XS Max iPhone models to the world. But was this all excess and no success? Certainly, the markets were not impressed. Apple’s stock price failed to register any excitement.

The reason could be the high price tags, ranging from $749 to $1,099 for the phones. Even with larger screens, dual lens cameras, health features for the smartwatch and even a new ‘bionic’ A12 processor, it’s all just seen as tinkering around at a time when the world is suffering from gadget-fatigue.

But Apple has bigger pies to bake. A growing investor appetite for shorting the stock can’t be ignore. Furthermore, President Trump’s demand that Apple bring back manufacturing to home-grown soil will be pushing a lot of populist buttons asking the same question about a very American company.

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2. Brexiteers gets a European fillip 

Here’s a turn for the books. And no doubt Brexiteers will be sniggering all the way down to the pub with their British Bulldogs about it. The value of European clients’ investments, managed by London asset managers, has risen by almost 30% in the past year.

Of the £3.2 trillion managed for foreign investors in the UK, £1.8 trillion, or 56%, comes from Europeans, according to a recent report from the Investment Association. Total managed assets in the UK grew 12% to hit a record £9.1 trillion ($11.86 trillion).

The UK manages more European money than Germany, France and Switzerland combined. “We are playing an increasingly significant role in the UK economy having invested 1.7 trillion pounds, providing vital funding for UK businesses and infrastructure, and supporting 100,000 jobs around the country,” IA chief executive Mike Cummings said.

But Brexiteers better make sure that great British habit, arrogance, doesn’t get in the way of a good Brexit deal for fund managers.

Related: Market Round Up: Imran Khan’s sticky Pakistan wicket, Tech stocks’ rout, Boring Billionaires

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ALL RIGHTS RESERVED © INVSTR LTD. 2018

Risk Disclosure:
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.
Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.
Brokerage services are provided by the following:
US-traded securities, including fractional trading, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here.
India account traded securities are provided by SIC Stocks & Services PVT Ltd. SIC does not make any personal recommendations to buy, sell or otherwise deal in investments. Investors make their own investment decisions. The services and securities provided by SIC may not be suitable for all customers and, if you have any doubts, you should seek advice from an independent financial adviser. For more information and disclaimers, click here.

 

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