Spreadex Market Update
European headline shares open lower
Data showed that Chinese exports in July rose a mere 1% compared to a year earlier and is the weakest since January this year.
However, losses within European trading was supported by long-term investors bargain seeking and hoping that Chinese policy officials will provide additional stimulus to help support Chinese growth which is clearly being jeopardised by slowdowns in the US and Europe.
Manchester United Ltd is due to list today in the US. Recent reports have shown that the club’s IPO price has been slashed to $14 below the $16-$20 expectation.
The club has probably now realised that owning a part of one of the most successful sports clubs in the world will not compensate for denying a dividend as well as equal voting rights to prospective shareholders.
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