Business
Stocks Rally Fueled by Tech | Horizons Middle East & Africa June 6, 2024
Tech stocks drive a global rally with US equities hitting fresh highs, with Nvidia joining the 3 trillion club. Also on the show: ECB rate cut expectations, Indian Prime Minister Narendra Modi’s coalition and South African coalition negotiations. We spoke to Paul Watters, S&P Global Ratings, Head of Europe Credit Research; Mitchell Elegbe, Interswitch Founder and Group Managing Director; and Panagiotis Chatziantoniou, Fakeeh Care Group CFO.
00:00 Introduction
01:35 Nvidia joins the $3 trillion club
04:25 Ven Ram, Bloomberg MLIV on expected ECB cuts
08:13 Paul Watters, S&P Global Ratings, Head of Europe Credit Research
15:30 Indian Prime Minister Narendra Modi wins backing to form coalition
20:09 South African coalition negotiations continue
24:40 Microsoft, Nvidia and Apple combined overshadow China’s market cap
27:48 Elegbe, Interswitch Founder and Group Managing Director
34:00 Panagiotis Chatziantoniou, Fakeeh Care Group CFO
43:07 Bloomberg’s Lizzy Burden on ECB rate cut expectations
Horizons Middle East & Africa is your daily spotlight on one of the world’s fastest-growing regions. Anchored by Joumanna Bercetche live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg.
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The incoming US administration’s potential move to raise tariffs on trading partners could combine with conflicts around the globe to increase risk in financial markets next year, UBS CEO Sergio Ermotti tells Joumanna Bercetche. Read more: https://trib.al/pfwflcD
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US President Donald Trump has ordered 25% #tariffs on steel and aluminum. Europe is prepared to respond, but what exactly does Trump want? Also, OpenAI’s Sam Altman talks Elon Musk. Manus Cranny reports.
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the big stories in China
– Tech optimism
– Deflation worries
– Public backlash
@RChoongWilkins recaps some of the top stories you may have missed in China this week https://t.co/npzluvfoM5 (240 kB)
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Donald Trump is casting a long shadow over COP29’s fight to secure more cash for climate action
Joumanna Bercetche has the latest as leaders arrive in Azerbaijan https://bloom.bg/48MFB9u
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