Tuesday 20 May 2025
The Mighty Headlines
Economics: Economic activity in China falls in April
Business: Greene King pub chain calls for help from UK Government
Markets: Value of dollar and US Treasuries fall after credit downgrade
Foreign Affairs: Results from European elections
Security and intelligence: US-Russia phone call on Ukraine
Domestic politics: UK and EU reach new deal
The Mighty Stats
FTSE = 8,699.31 (up 0.17%)
S&P 500 = 5,963.60 (up 0.088%)
Nasdaq = 19,215.46 (up 0.023%)
CAC40 = 7,883.63 (down 0.039%)
£1 = $1.34 / €1.19
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The Mighty Detail
Economics: Economic activity in China slowed in April. This follows the introduction of US tariffs of up to 145 per cent on Chinese goods last month. Retail sales increased by 5.1 per cent between April 2024 and April 2025 – below expectations of 6 per cent. Inflation fell by 0.1 per cent – a signal of weak consumer demand – while industrial production fell from 7.7 per cent to 6.1 per cent.
Business: Greene King has called for urgent help from the UK Government after posting a pre-tax loss of £147.1 million in 2024. This is despite revenue at the pub group increasing from £2.37 billion to £2.45 billion. Greene King, which owns around 2,600 pubs, restaurants and hotels, is asking the Government to reform business rates and “reduce the cost of doing business”.
Markets: The value of the dollar fell yesterday, following Moody’s downgrade of the US’s credit rating on Friday. It comes after the dollar rose in value for four consecutive weeks on the prospect on US trade deals with countries around the world. A dollar is now worth £0.75 or €0.88. The value of US Government debt also fell, with yields on 30-year bonds increasing by their highest level since November 2023.
Foreign Affairs: Following three European elections at the weekend, the results are as follows:
1. Poland (Presidential first round – Mayor of Warsaw, Rafał Trzaskowski, the centre-right candidate from the ruling coalition topped the polls.)
2. Portugal (General election – Democratic Alliance, the ruling centre-right party of Portugal won 32 per cent of the vote. The Socialist Party came second on 23 per cent. The far-right Chega Party came third on 22.56 per cent.)
3. Romania (Presidential final round – Mayor of Bucharest, Nicușor Dan, pro-West independent candidate won the election.)
Security and intelligence: Following a two-hour phone call between President Trump and President Putin yesterday afternoon, President Trump said that “cease-fire negotiations would start immediately”. President Putin only said, however, that Russia was ready to work with Ukraine “on a memorandum of a possible future peace agreement” and would engage on a “possible” ceasefire.
Domestic politics: The UK and EU announced a framework for a new deal yesterday. Although details will still be negotiated, the UK Government said that the deal would extend current fishing arrangements until 2038 and allow EU countries to let UK visitors use EU queues at border controls. There will also be fewer customs checks on food in return for the UK accepting EU rules on animals and food and the oversight of the European Court of Justice in that area. There will also be a mobility scheme for young people.
The Mighty Calendar
What’s happening today?
G7 Finance Ministers and Central Bank Governors’ meeting, Canada
Elon Musk addresses the Qatar Economic Forum virtually
Chelsea Flower Show begins
Treasury Questions in UK Parliament
Joint session of UK and Ukraine Foreign Affairs Committees, UK Parliament
Canada CPI inflation data (April)
Japan trade data (April)
Company results from: Vodafone, Home Depot, Greggs
Lookahead to tomorrow
Kermit the Frog delivers University of Maryland commencement address
President Trump hosts South Africa’s President, Washington D.C.
Pope Leo XIV holds first general audience
Prime Minister’s Questions in UK Parliament
UK CPI inflation data (April)
Company results from: Marks & Spencer, JD Sports, Currys, Target
The Mighty Finale
🌤️Weather today
Bright and sunny across most of England but a touch of cloud in Manchester. High of 23C and low of 13C in London. Rain in Belfast. Sunny in Edinburgh.
✏️Life coaching quote of the day
“There are two ways to live a longer life:
1) Biologically. Extend the timeline between your birth and your death.
2) Psychologically. Fit more lives into whatever time you are given.
Make each decade rich with experiences and perhaps you can live a handful of lives before you are done.” – James Clear, writer
Mighty takeaway: Nothing further to add to this one!
That’s it for this morning. Thanks for reading and we hope you have a good Tuesday.
Cheerio!
The Mighty Memo team