14.05 - dollar goes lower together with oil.
- by Anna K.
The trading week starts off with the weaker dollar and stronger prices for metals as well as growing European and Asian markets.
Several years ago the Disney fans and Disney investors were both watching with seemingly no understanding how Disney was buying out different film production companies. Noe, looking back it is easy to say that some of those purchases were the best deals Disney could have made over the years. We are, of course, talking about Marvel Studios, which was bought into the Disney family in 2017 together with 20th Century Fox.
The beginning of May was marked by the issuing of the most anticipated movie of the last years – Avengers: Infinity war. It was predicted that the movie is going to see one of the best if not the best opening weekend of all times. Which indeed happened. With the huge number of fans wanting to see the movie in roughly three weeks of release the Avengers have grossed $641 million in the opening weekend. And numbers are still counting as the movie is still in theaters. It is natural that this success be mirrored in the stock prices of Disney.
Shares of the American movie-producing conglomerate have gone up 2 percent to $101.30 per stock in the first day after Avengers opened. As of today, the stocks hit the low point in May, 3 after grazing $98.76 per stock price. But it has already recovers after the fall - $102.70 per share this trading morning. With the fourth Avengers being built up for release in a year, it is expected that the stocks will not see a big fall any time soon.
Last year Vietnamese economy became the fastest growing in the region. Expanding by about 6.8 percent it was the largest jump for the country’s numbers in almost ten years. The growth is owned by a lot of things but in the large part the massive growth is due to the biggest foreign investor in the Vietnamese economy – Samsung Electronics.
By investing into this South Eastern country, Samsung have turned it into one of the baggiest manufacturing hubs. But it seems that with the recent changes in the political situation in the region, this may soon change. As most of the world society knows – North Korea is open for the dialogue and it may turn into a good picture for Samsung.
For a long period of time North Korean economy was solid frozen. The country was completely shut from the world. But the thing is – behind those shut doors rich nature and industrialization were hiding. Plus, North Korea now looks very much similar to Vietnam in the times when it was only starting to gain popularity with Samsung. In addition to the hidden potential, there is one more reason for Samsung to consider relocating to the Northern neighbor – pay fair.
Level of life in North Korea is much lower than that in Vietnam and that means that the wages which will have to be paid by Samsung will be times lower. In general North Korean worker earns about 1.1 dollar per hour, whereas South Korean worker earns approximately 18.7 dollar per the same amount of time. Plus the relocation may be a good boost to the North Korean economy, as about 26 percent of Vietnamese GDP comes from Samsung. According to the rough numbers, published by Morgan Stanley, is North Korean would agree its economy would get about 5 percent boost.
As Asian markets were quite sure about their movement up, European stocks are not as sure this trading morning. With Asian region gaining more points, both British and European currencies have been gaining amidst dollar’s retreats.
Stoxx Europe 600 fell by 0.05 percent.
DAX for Germany gained 0.05 percent.
FTSE from the UK experienced the biggest retreat in a week after losing 0.1 percent.
Dollar lost 0.1 percent against the basket of six major currencies and that brought the greenback to the lowets point in almost a week.
Euro advanced 0.2 percent - $1.1968 – the high point for the currency in a week.
Pound in its turn is at the best performance in almost three weeks after having gained 0.3 percent - $1.3578.
WTI oil lost as much as 0.5 percent - $70.37 per barrel.
Gold went up by 0.2 percent - $1.320.90 per ounce.