1 November 2017
Ravi Lockyer
Spain invoked Article 155 taking direct control of Catalonia placing the state under the authority of the Deputy PM. An election will shortly take place. Massive pro-unity demonstrations have calmed nerves.
HSBC reported Q3 adjusted pre-tax profit of $5.44bn with operating expenses down 9%. About 78% of HSBC’s profit was made in HK/ China and other Asian locations.
Ryanair announced interim revenues jumped 7% to €4.42bn and EPS of €1.07 up 16% despite a 5% drop in average air fares.
PM Theresa May keynote speech at the Tory Party Conference promised a cap on energy bills and a £2bn investment in affordable housing.
GSK reported Q3 sales of £7.8bn up 4% with EPS of 24.8p up 49%. Q3 was overshadowed by a conference call during which the CEO highlighted GSK’s appetite for major acquisitions.
M&A featured heavily in October with takeover approaches for Aldermore, Imagination Technologies, Millennium & Copthorne Hotels and Spire Healthcare.
US President Donald Trump is expected to name Jerome Powell as next Federal Reserve Chairman after a very public and unprecedented “beauty parade” of potential candidates.