European Markets with Estate tax and rebellion | Calamatta Cuschieri

European Markets finished a day of trading in the green after Bank of England released minutes report stating economic concerns over Brexit. Meanwhile, investment incentives were higher on diminished political concerns regarding the Catalonian referendum, after Spanish government expressed willingness to cooperate with dissatisfied parties. Market watchers also digested a string of economic data that showed a dip in UK construction and a rise in Eurozone producer prices. 

European industrial producer was on the upside in August when compared to the previous month, with energy prices, price of intermediated goods and durable and non-durable goods were positive. Among member states, the largest growth in industrial producer prices was recorded in Hungary, Slovakia and the United Kingdom with prices jumping 0.9% in the three countries, while the largest decline occurred in Sweden where producer prices fell 0.2% in August.

German markets were closed for trading today due to the Day of German Unity. In London, the FTSE 100 gained 0.38% at the end of the trading session. French CAC 40 increased 0.32% at the close. Retail giant Carrefour was the main advancer, adding 3.03%. 

Buffett’s Opinion

The American Businessman and Chairman of Berkshire Hathaway, Warren Buffet, told a news agency today that cancelling of the estate tax as a part of the Republican tax reform is a "terrible mistake." He explained that this tax impacts a small percentage of US citizens so eliminating it would not have widespread effects.

This comes in line with what U.S Senator Bernie Sanders said, as he insisted this leads to great tax breaks for wealthy families. The estate tax consists of an accounting of everything you own, have certain interests in at time of death.

Catalonia inciting Rebellion

Spain’s internal minister stated that the Catalan government, which organised the independence referendum on Sunday and might declare independence in the next few days, is "inciting violence" in the province.

Earlier in the day, Catalan trade unions, businesses educational and cultural institutions, as well as FC Barcelona, entered a general strike protesting the violent methods used by Spanish police in order to prevent the referendum. They were later joined on the streets of Barcelona by hundreds of students who also showed opposition to the actions of the government in Madrid.

Disclaimer

This article was issued by Rodrick Duca, 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.