The week ahead | Calamatta Cuschieri

The UK is to hold its first talks with the US to try to sketch out the details of a potential post-Brexit trade deal, OPEC meeting on Monday, Consumer Confidence Index and Ryanair makes an offer to Alitalia

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Calamatta Cuschieri
24 July 2017, 11:43am
Anglo-US trading

The UK is to hold its first talks with the US to try to sketch out the details of a potential post-Brexit trade deal. International Trade Secretary Liam Fox will spend two days in Washington with US counterpart Robert Lighthizer. EU rules currently mean that the UK cannot sign a trade deal until it has left the bloc. The Department for International Trade said discussions were expected to focus on "providing certainty, continuity and increasing confidence for UK and US businesses as the UK leaves the EU".

OPEC meeting

A highly-anticipated meeting of oil ministers from the Organization of the Petroleum Exporting Countries and some non-OPEC producers on Monday could make or break oil prices which have already tumbled more than 12% year to date. The group of oil ministers is tasked with monitoring implementation of the agreement that began 1 January between 13 OPEC members and 11 non-OPEC producers to cut output by about 1.8 million barrels a day, in an effort to bring global supplies back to their five-year average.

Consumer Confidence Index

In the US, July’s figures for the Consumer Confidence Index are expected to be published on the Tuesday the 25th of July. The US Conference Board compiles a survey of consumer attitudes on the economy. The headline Consumer Confidence Index is based on consumers' perceptions of current business and employment conditions, as well as their expectations for six months hence regarding business conditions, employment, and income.

Ryanair & Alitalia

Ryanair has made an offer for bankrupt Alitalia SpA, the highest-profile casualty of Europe’s capacity drive and fare war. The Irish company has a “genuine interest” in the Italian flag carrier and the survival of its long-haul operations, having offered to provide passengers via a feeder agreement, said Neil Sorahan, Chief Financial Officer in a phone interview. Alitalia accepted non-binding bids for its assets on Friday and also received proposals from carriers including EasyJet, Deutsche Lufthansa AG and existing shareholder Etihad Airways PJSC, according to the il Messaggero newspaper.

Disclaimer:

This article was issued by Peter Petrov, Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.

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