Today’s mood – Testing time

Published on 15-09-2020 13:25:28

Upbeat industrial output data from China has helped push up UK stocks. However, many trials lie ahead.

People in England’s worst-hit COVID-19 hotspots are apparently unable to get screened for coronavirus. New unemployment levels are being explored after the biggest jump in UK redundancies since 2009More jobs are going at London City Airport and the post-lockdown shopping surge seems to be over.

Mergers and acquisitions are testing markets, with G4S facing an unwanted takeover bid, while a potential banking mega-deal could vex regulators in Switzerland. It’s also D-Day for insurers awaiting a major legal ruling on COVID-19 claims.

In the US, $120bn of commercial property debt is threatened by West Coast fires, which are producing more carbon dioxide than California’s power plants. Meanwhile, the International Energy Agency has trimmed its 2020 oil demand forecast, citing caution about the pace of economic recovery from the pandemic.

Singapore Airlines is so stressed that it is considering launching flights to nowhereApple is proclaiming that ’Time Flies’ but may not have any new iPhones to launch.

For some, however, life is a breeze. Ocado ‘s quarterly sales are up 52% as online deliveries boom. Domino’s Pizza is creating 5,000 new jobs.

Chemring and Edison client Polypipe are among the FTSE 250’s biggest risers after investors found cheer in their respective trading update and interim results.

If you have cash to spare, you can compete with the hedge fund billionaire who is buying baseball’s New York Mets for a record $2.4bn. You could also try out a new wine designed to be drunk with toasted cheesy chalupa though you’ll need to be in Canada.

If you’re finding life’s vicissitudes too testing, relax. There could be life on Venus. Just watch out for noxious gases.

Until tomorrow,

The Stream Team

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