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DAILY MARKET OVERVIEW
Today's Top Market Headlines – Jul 17, 2017
Round 1: Brexit talks start in Brussels with 20 months to go

British and European Union envoys on Monday began a first round of negotiations on Britain’s divorce from the EU with both sides saying it was high time to tackle details, though feuding within the London cabinet over Brexit terms may trouble the process.

With little more than a year to decide the terms before Britain leaves, deal or no deal, on March 30, 2019, the 27 other EU national leaders want British Prime Minister Theresa May to rally her polarised nation – and her fractious cabinet – swiftly behind a clear, detailed Brexit plan.

EU leaders are keen to minimise economic and social disruption across Europe as its second biggest economy cuts loose from the continent after four decades of myriad links.

 

By Alastair Macdonald

Source: http://bit.ly/2u0J9Sk

EasyJet's Carolyn McCall appointed ITV chief executive

British commercial broadcaster ITV (L:ITV) said on Monday it had appointed Carolyn McCall, the boss of airline easyJet (L:EZJ), as its next chief executive, replacing Adam Crozier who has already stepped down.

McCall, who was chief executive at newspaper publisher Guardian Media Group before taking the helm at easyJet in 2010, will start at ITV on Jan. 8, 2018, the company said.

She said it was a difficult decision to leave easyJet, but after seven years the opportunity from ITV felt like the right one to take.

“It is a fantastic company in a dynamic and stimulating sector,” she said.

 

Source: http://bit.ly/2t6yuEf

Renault sales rise 10.4 percent to record as product offensive pays

French carmaker Renault (PA:RENA) posted record vehicle sales for the first half as a sustained product offensive lifted global deliveries by 10.4 percent – with a well-timed China SUV launch and renewed push into Iran both contributing.

Sales advanced to 1.88 million light vehicles in January-June, Renault said on Monday, four times the rate of the global auto market’s 2.6 percent expansion.

 

Renault, based in the Paris suburb of Boulogne-Billancourt, is reaping the rewards of a comprehensive overhaul of its lineup under chief designer Laurens van den Acker, who joined the company eight years ago. Sales have also benefited from a surge in European demand for the group’s no-frills Dacia brand and more recently from the success of its Captur mini-SUV.

 

Source: http://bit.ly/2uzqXm5

China's strong second-quarter GDP growth paves way for deeper reforms

China’s economy expanded faster-than-expected in the second quarter, setting the country on course to comfortably meet its 2017 growth target and giving policymakers room to tackle big economic challenges ahead of key leadership changes later this year.

The boost to growth was in part driven by firmer exports and production, in particular steel, which could heighten trade tensions as the United States and China begin economic talks this week. U.S. President Donald Trump has made the U.S. trade deficit with China a top agenda item in bilateral talks and has also flagged the steel trade as a point of contention.

 

By Elias Glenn and Kevin Yao

Source: http://bit.ly/2uqPTM5