UK mortgage approvals fell to an 18‐month low of 60 900
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European shares opened higher this morning and broadened their gains during the session. US Equities opened little changed.
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UK mortgage approvals fell to an 18‐month low of 60 900 in the first full month after the Brexit vote. Consumer credit slowed too suggesting weaker demand for big‐ticket items such as vehicles.
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European Commission's economic confidence dropped from 104.5 to 103.5 in August, below the market consensus of 104.1. Weakness was broad‐based across sectors with only a small improvement in construction.
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EU antitrust regulators ordered Apple to pay up to €13 billion in taxes to the Irish government after ruling that a special scheme to route profits through Ireland was illegal state aid.
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According to sources, French Economy Minister Emmanuel Macron is set to resign, taking him a big step closer to launching a run for the presidency next year.
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