FTSE: FCA announced that ETFs are not a threat to the system, that it ‘’does not detect any initial signs of concern to financial stability’’ Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.


Italian coalition unworkable
Deputy PM Salvini calls parliamentary election

The head of the ruling League party, powerbroker Matteo Salvini, yesterday declared the coalition with Luigi Di Maio’s 5-Star Movement unworkable after months of public feuding. PM Giuseppe Conte, who doesn’t belong to either party, said Salvini must explain to the nation why he was bringing the government down; (MPs are on summer holidays). Salvini, in a televised statement yesterday said, ‘’Italy can no longer put up with no’s, we need yes’s, we need to unblock, to build, to work – enough is enough, we must go to elections’’. Since 1945 the country has had 61 different governments in a parliament of 630 seats.

Inflation in China is a mess. Data published this morning showed that producer prices dropped in the year to July by 0.3 per cent – the first negative print in 3 years. Meanwhile consumer prices rose by 2.8 per cent in the year to July, slightly higher than expected. Even worse for residents, food prices soared by 9.1 per cent, mainly caused by African swine fever (pork +39.1 per cent) and very cold and wet May and June, hitting fruit growers (up 27 per cent) and horticulture.

Financial Markets and Political Commentary


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