Stocks Rebound as Risk Aversion rightly or wrongly slides
City Index August 30, 2017 5:00 AM
European markets look set to start the new session on the front foot, after the US managed to book a positive close and Asia traded higher overnight.
European markets look set to start the new session on the front foot, after the US managed to book a positive close and Asia traded higher overnight. This is a quick turnaround in risk appetite given the gravity of the actions by North Korea just 36 hours earlier.
As the long-awaited date for the new Apple product launch nears, investors seem unable to contain their excitement. With just two weeks to go, hype and expectations surrounding the new Apple devices has pushed the world’s most valuable company to new highs. Apple shares hit a record intraday and closing price, with an increase of 0.9% across last night’s session to close at $162.9. Apple now has a market cap of over $840billion thanks to the 40% increase in its share price over the last 9 months. But can this last?
Not only are Apple expected to launch a series of devices that include a brand-new anniversary edition iPhone and a newer version of the smart watch, but the firm surprised the markets with an announcement of a new partnership with Accenture. The consumer has always been a central part to the Apple business model, but this new partnership points towards Apple’s increased attention on businesses, which could offer support should the current consumer addition to Apple products calm down.
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