Market Summary 21/11/18

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Market Summary 21/11/18

Wenqian Zeng

21st November 2018


Brexit: May shall return to Brussels

This weekend, Theresa May will head to Brussels for another Brexit negotiation. The UK and Brussels have already drafted the terms of UK’s exit from EU, however a deal must be written between UK and EU in time for Sunday’s summit of European leaders 1.


‘Faang’ loses $1 trillion

Faang – the five big technology stocks (Facebook, Amazon, Apple, Netflix and Google’s parent company Alphabet) suffered a loss of $1tn2 on Tuesday with more than 20% fall in shares 3. This may leave Nasdaq its worst quarterly loss since Lehman’s collapse2.


France and Spain’s increasing demands from Brexit

France is demanding that it’s fishing rights in British waters along with other EU nations in order for a UK-EU free trade agreement to happen. Spain is threatening Brexit negotiations by demanding Gibraltar (a small British territory at the South of Spain).


Energy in crisis?

BBC News4 state that there have been 6 energy firms that have ceased trading this year, including Extra Energy being the most recent one. Due to UK’s regulatory change regarding the introduction of a price cap on energy bills, Extra Energy has blamed this as they no longer see the value of investing long term in UK.


IKEA in city centres

IKEA plans to expand by opening stores in city centres, for example, the recent small Tottenham Court Road “planning studio”5 where it focuses more on kitchen and bathroom designs in order for customers to order online after. As customers behaviour change, wanting shopping to be more be more convenient, IKEA is also developing its online shopping experience.


Oil market crashes

Crashing down almost 30% from its recent peak6, the oil market now suffering from 13-month lows since entering bear market at the beginning of November this year.


Government borrowings worsen

The government borrowings have exceeded the expected amount in October, the forecasted borrowing was £6.6bn but this has risen to £8.8bn from last year’s £7.2bn7. This is potentially due to the growth in expenditure on social benefits and goods and services.


Google’s new app Neighbourly

Neighbourly is a new app designed for India only by Google. According to CNN News1  the local social network app works in English and 8 different languages with the aim to answer questions about people’s immediate surroundings such as food places.



1 BBC News. (2018). UK still expects Brexit deal this weekend. [online] Available at: [Accessed 22 Nov. 2018].

2 Wigglesworth, r., bullock, N., Hodgson, c. and hunter, m. (2018). Global markets retreat as tech rout spreads | Financial Times. [online] Available at: [Accessed 21 Nov. 2018].

3 Titcomb, J. (2018). Trillion-dollar loss for big five tech companies as market slump deepens. [online] The Telegraph. Available at: [Accessed 21 Nov. 2018].

4 BBC News. (2018). Sixth energy firm this year collapses. [online] Available at: [Accessed 21 Nov. 2018].

5 BBC News. (2018). Ikea eyes bigger city centre stores. [online] Available at: [Accessed 21 Nov. 2018].

6 Egan, M. (2018). The Great Oil Crash of 2018: What’s really going on. [online] CNN. Available at: [Accessed 21 Nov. 2018].

7 BBC News. (2018). Government borrowing worse than expected. [online] Available at: [Accessed 21 Nov. 2018].

8  Iyengar, R. (2018). Google rolls out Neighbourly, a new app just for India. [online] CNN. Available at: [Accessed 21 Nov. 2018].

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