Saudi Arabia continues to tease the financial markets regarding the IPO of Aramco, its biggest oil company. Though Aramco shares were expected to become available to the public weeks ago, now only a small part of them will, and in Saudi Arabia only. Investors from the United States, Japan, or Canada would not get a chance to invest in the Saudi oil giant for now.
Meanwhile, the pro-democracy protests in Hong Kong are still going on in full force. The latest escalation in the conflict involved police attacking students at a university campus and arresting over 100 people. China continues to face criticism over the violent handling of the protests, especially considering the Hong Kong government was ready to meet the protesters’ demands months ago but was blocked by China in doing so. Despite the crisis in Hong Kong, its stock market is showing signs of recovery, as the public expects the protests to end soon.
In the United Kingdom, today we see a recovery in the value of the British pound sterling. The GBP is enjoying growth right now because Boris Johnson’s Conservative party seems to lead in the election polls. If the Tories secure a comfortable majority in Parliament, Johnson will be able to pass legislation and deliver on his Brexit promise without opposition. The pound reached 1.2967 versus the USD, and 1.1720 versus the euro.
