Chinese protest dents sentiment
Widespread protests in China hurt investor sentiment on Monday as Chinese citizens came out on to the streets in major cities. Protests are not unheard of in China, but the calls for the Communist party and leader Xi Jinping to step down have grabbed the world’s attention. Long lockdowns and deaths from a fire in a Chinese tower block have sparked unrest across China’s major cities.
Oil prices fall
Oil sank with risk sentiment on Monday with WTI trading down to $74 and Brent Crude $81.
FTSE 100 miners dip
The FTSE 100’s miner’s profits are inextricably linked to Chinese growth and the weekend’s developments will raise questions about the performance of country’s economy in the coming months.
7Digital wins contract with Pinterest
7Digital has won a contract with global social media company Pinterest to support content creation by allowing 7Digitial’s music service to be accessible through Pinterest’s library.
The dollar gains
The dollar gained against most major currencies as traders bought into the safe haven of the greenback in the face of uncertainties presented by China.