10 things you need to know in markets today

Good morning! Here’s what you need to know in markets on Monday.

1. A new poll has found a majority of decided voters in Scotland and Northern Ireland would opt to break from the UK if it leaves the EU, according to a shock new poll which reveals that Brexit now risks the future of the union.52% of all voters in Northern Ireland and 52% of decided voters in Scotland would opt for independence from the United Kingdom if Brexit goes ahead, according to polling by Deltapoll for the Best for Britain campaign group.

2. Asian stocks dipped on Monday on worries about further escalation of the U.S-China trade war and unstable emerging market currencies. “It looks almost certain that Trump will impose 25 per cent tariffs on $US200 billion worth of imports from China,” said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities.

3. Brent crude oil prices dipped on Monday amid rising supply from OPEC and the United States, although expectations of falling Iranian output once U.S. sanctions bite from November provided some support. Output from the producer cartel of the Organisation of the Petroleum Exporting Countries (OPEC) rose by 220,000 barrels per day (bpd) between July and August, to a 2018-high of 32.79 million bpd, a Reuters survey found.

4. The historic run-up in world shares will continue through 2019, but the outlook for almost half of the major bourses polled by Reuters has slipped, with many now only expected to recoup losses from this year’s sell-off. Following a strong performance in 2017, world shares hit their latest run of new highs this month on solid economic and corporate earnings growth.

5. U.S. automaker Ford plans to drop production of some of its automobile models as part of a planned operational restructuring announced earlier this year, sources told The Times.The British newspaper reported that Ford planned to end production of Mondeo, Galaxy and S-Max models and focus on more lucrative sport utility vehicles.

6. As Argentina drafts plans to cut its budget deficit to convince nervous investors it can pay its debts, President Mauricio Macri is under increasing pressure to reverse one of his signature policies, cutting farm export taxes. “The market will likely be expecting a 2019 budget that makes a credible attempt to all but eliminate the primary deficit,” said Jeffrey Lamoreaux, senior analyst at Fitch Solutions in New York.

7. Italy’s populist government will make a “historic choice” between what citizens need and what ratings agencies say should be done, the deputy prime minister said on Sunday, responding to Fitch’s cutting the outlook on Italian debt.Fitch on Friday changed the outlook on the world’s third-largest pile of state borrowing to “negative” from “stable”, citing concerns about the government’s “new and untested nature” and its promises to hike spending.

8. The founder and chief executive of Chinese e-commerce giant JD.com Inc, Richard Liu, was arrested in the U.S. state of Minnesota on a charge of criminal sexual conduct and later released, a county sheriff’s department jail roster showed.The charge against Liu, 45, was made just before midnight local time on Friday, and he was released just after 4 p.m. on Saturday, according to the Hennepin County Sheriff website.

9. Saudi Arabia’s sovereign fund has appointed Andrew Liveris, the former chairman and chief executive of Dow Chemical, as a special adviser, it said on Sunday.Liveris will work closely with the Public Investment Fund (PIF) on matters of strategic importance, assist the fund in efforts to boost the value of its portfolio, and ensure the contribution of PIF companies to Saudi Arabia’s economic vision program 2030, the fund said in a statement.

10. China’s Exim bank will lend Nigeria $US328 million toward improving the west African country’s telecoms infrastructure, Nigeria’s presidency said on Saturday, at the start of a six-day visit by President Muhammadu Buhari to the country.Poor telecoms are a major challenge for businesses operating in Nigeria, which is Africa’s largest oil producer, most populous country and has one of the continent’s largest economies.

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