The Pound has fluctuated massively in the early hours of Thursday trading. Following the events of Brexit, and uncertainty over PM Johnson’s approach to the EU, the exchange rate has been sent into frenzy. As the Brexit deadline looms, market traders have been observes major fluctuations in the value of the Pound amidst reports of a deal being completed. This morning Jean Claude-Juncker, told media officials that a deal was on the table and close to being completed. Along with this, Angela Merkl described negotiations in the ‘final sprint’ phase, sparking trader optimism. Analyst Kim Mundy, with Commonwealth Bank of Australia speculated further rises in the value of the Pound stating “The EU’s leader’s Summit begins today. Market participants are waiting for confirmation (or otherwise) that the EU and the UK have reached a new Withdrawal Agreement. News of an EU‑UK deal today could see GBP/USD hit a fresh five‑month high above 1.3000.” The Pound spiked as high as 1.2990 against the US Dollar, peaking its highest level since May, however this may not be completely set in stone after the DUP commented saying negotiations were stalling. However, a variety have now said that the deal will not be completed and has been held off. Disagreements in the trade deal along with the rejection by the Northern Ireland Democratic Party (DUP) which supports the Conservative majority in Westminster have led to disagreements. The DUP leader Arlene Foster said the EU sources cited by RTE were talking “nonsense” and that discussions were ongoing. In a written statement Foster said “We have been involved in ongoing discussions with the Government. As things stand, we could not support what is being suggested on customs and consent issues and there is a lack of clarity on VAT.” Foster added “We will continue to work with the Government to try and get a sensible deal that works for Northern Ireland and protects the economic and constitutional integrity of the United Kingdom.” Market traders are currently caught up about when to buy the pound, as speculation ebbs and flows about a potential deal being completed. As a result, this morning the pound surged valued at $1.29 for first time since May on reports that Brexit negotiations were progressing. The British Pound has been up and down since talks commenced one week ago. Stephen Gallo, European head of foreign exchange at BMO said “”A deal between the UK and EU was 60% in the price [of sterling] and now we stand to see if the remaining 40% come into play,” News just in has reported that PM Johnson has agreed a ‘great deal’ for the UK, this involves a deal which appeases the EU and takes back control in the UK. The two sides will continue to work on legal intricacies of the deal, but awaits the approval of both UK and EU Parliament. With this renewed optimism on Brexit negotiations, the Pound has been quick to fall and surge in one of the most volatile periods in recent political history. The Pound has been trading at near highs in recent months, and analysts are suggesting that the Pound should stay supported over the coming hours. The fluctuations this morning confirm how volatile the Pound is on Brexit negotiations, and further fluctuations can be expected during the day. Quek Ser Leang, a currency market analyst with United Oriental Bank in Singapore said “While the current rally is overbought, it is too early to expect a sustained pull-back. There is still room for further GBP strength but the pace of any advance is likely to be slower” Further updates will provided as news from Number 10 and Brussels comes in, and there is expected to be further volatility in the Pounds value across coming weeks. A prior update has been provided by the UK Investor Magazine. In other current affairs, new stories have been about the London Stock Exchange (LON:LSE), Thomas Cook (LON:TCP), Facebook (NASDAQ: FB), Amazon (NASDAQ: AMZN) and Huawei (SHE: 002502)  

Unilever said on Thursday that third quarter growth continued to soften in India whilst slowing down in China. Shares in the consumer goods company (LON:ULVR) were up during trading on Thursday morning. Unilever revealed an underlying sales growth of 2.9%, with 1.4% from volume and 1.5% from price. Meanwhile, turnover grew by 5.8% driven by sales growth. Underlying sales growth missed an average forecast of 3% from a company supplied analyst consensus, according to Reuters. Beauty and Personal Care underlying sales were up 2.8%, Home Care increased 5.4% and Foods and Refreshment rose 1.7%. “We have maintained momentum in the quarter, with a good balance between volume and price,” Alan Jope, CEO of Unilever, commented on the results. “We will step-up competitive top line performance through innovation and portfolio evolution to serve the faster growing geographies and channels.” “We are committed to delivering superior long-term financial performance and balanced, compound growth of the top and bottom line through our sustainable business model,” the CEO continued. Alan Jope said that the company is “taking action to remain relevant to the consumer of the future, such as setting stretching goals on plastic use which we recently announced”. “For the full year, we continue to expect underlying sales growth to be in the lower half of our multi-year 3-5% range, an improvement in underlying operating margin that keeps us on track for the 2020 target and another year of strong free cash flow.” The consumer goods giant revealed in its half year results in July earlier this year that poor weather had hit its ice cream sales in Europe and North America. It posted a stronger-than-expected growth in its underlying sales for its first quarter. As for its full year 2018 results, the consumer goods business said it had seen continued profitable growth despite the “volatile” market conditions. Shares in Unilever plc (LON:ULVR) were up trading at +0.92% as of 10:47 BST Thursday.

Domino’s Pizza Group announced in a third quarter trading update on Thursday that it will end its international operations. Shares in the pizza delivery chain (LON:DOM) were up during trading on Thursday morning. It said that though the financial results have stabilised, international system sales remain “disappointing”. “Although the financial results have stabilised, the performance of our international business remains disappointing,” David Wild, Chief Executive Officer, commented in a third quarter trading update. “Over the past six weeks we have completed a review with external consultants, assessing each of our four international markets and the future prospects for our businesses,” the Chief Executive Officer continued. David Wild said that the company has “concluded that, whilst they represent attractive markets, we are not the best owners of these businesses. Domino’s Pizza will therefore “exit the markets in an orderly manner”. The pizza delivery chain, which posted a 3.4% rise in group system sales, added that 12 stores opened in the UK and ROI in the third quarter. UK online sales were up by 7.2%, whilst ROI online sales increased by 9.9%. Domino’s Pizza said that online now makes up 90.9% of delivery sales. The company is continuing to sear for a new CEO, it added. Meanwhile, a search process for the new chair has started. The Chief Executive Officer said that the businesses “delivered a solid performance in our core UK and Ireland markets, with system sales up 3.9%, against a market backdrop that remains challenging”. “Normal working practices continue to be impacted by our franchisee dispute. As we said at our interim results, this situation is complex and we expect a resolution to take time, certainly into 2020.” Earlier this year in August, it was revealed that Domino’s Pizza had spent £7 million to stockpile ingredients in the event that a no deal departure from the European Union disrupts its supplies. Shares in Domino’s Pizza Group plc (LON:DOM) were trading at +3.7% as of 10:16 BST Thursday.

The risks to the UK border in the event of a no deal Brexit is now, to a certain extent, out of the government’s control, a report on the nation’s preparedness for Brexit found on Wednesday. The National Audit Office said that, though government departments have done a significant amount to prepare, the largest risks to the smooth operation of the border prevail and “resolving them is now, to some extent, out of government’s control”. As the nation approaches the Halloween Brexit deadline at the end of the month, uncertainty over the future of the UK remains. The National Audit Office said that the exact fate of the border in the event of a no deal departure from the European Union is not certain. However, the disruption of goods crossing the border and queues for businesses and the public are expected to occur. “Preparing the UK border for EU exit with or without a deal is extremely complex and has required a huge amount of work from many government departments, agencies and third parties such as traders,” Gareth Davies, head of the National Audit Office, said in a statement. “Despite their efforts, significant risks remain which may have consequences for the public and businesses,” Gareth Davies continued. “Government will face new challenges in monitoring and responding to any disruption that may ensue following a no deal exit, and will need to replace temporary measures with sustainable long-term solutions to ensure the border is fit for purpose.” On Wednesday the GBP/USD rose to a five-month high amid hope for a Brexit deal. The GBP/USD was trading above 1.28, which is the highest since May.

Signify NV, (AMS: LIGHT) have agreed to buy Cooper Lighting Solutions solutions from Eaton Corp (NYSE: ETN) for $1.4 billion in cash. The acquisition is the largest by Signify, the former Phillips lighting before they companies parted ways. This forms part of an intention to strengthen its market position in North America. Signify said the deal would add to earnings per share, and lead to cost savings of $60 million annually within three years. The deal is expected to be completed in the first quarter of 2020, subject to regulation and approvals. Cooper reported sales of $1.7 billion in 2018 and earnings before tax, interest and depreciation of $187 million. Signify have also stated the intention to keep dividends consistent, and shareholders will only see a rise after the acquisition. The main focus will be to reduce the debt of the combined company, as one of the short term goals was identified.

Huawei Technology (SHE: 002502) produced a fine third quarter, seeing sales increase by 27% after smart phone sales surged. The strong sales were driven by a surge in shipments from China launched before the blacklisting by the US, following the trade war. Huawei is the world’s biggest producer of telecom equipment, and the second largest manufacturer of mobile phones. Following the tensions of the US China trade war, President Trump banned all US involvement with Huawei disrupting the supply of production parts. The recent release of the ‘Mate 30’ lacks access to a licensed version of Google’s (NASDAQ: GOOGL) Android operating system. In a report released on Wednesday, the tech titan announced revenue figures of 610.8 billion yuan. This was a 24.4% increase across the first three quarters of 2019. Revenue in the third quarter, which ended in September totaled 165.29 billion yuan according to Reuters calculations based on statements from Huawei. Nicole Peng, Vice President from consultancy Canalys said “Huawei’s overseas shipments bounced back quickly in the third quarter although they are yet to return to pre-US ban levels. The Q3 result is truly impressive given the tremendous pressure the company is facing. But it is worth noting that strong shipments were driven by devices launched pre-US ban, and the long-term outlook is still dim.” Huawei boasted their strong shipping figures of 185 million smartphones this year, according to analytics this shows a 29% rise in Q3 shipments. According to these statistics, the legislation imposed by Trump has failed to stop Huawei revenue growth. A company stated gave the following insight “”Huawei has maintained its focus on ICT (information and communications technology) infrastructure and smart devices, and continued to boost the efficiency and quality of its operations. This contributed to increased operational and organizational stability and solidified the company’s performance in the first three quarters of 2019.” In addition, US firms such as Intel Corp (NASDAQ: INTC) and Micron Technologies Inc (NASDAQ: MU) found alternate paths to supply parts to Huawei. Huawei have managed to be successful amidst US pressure, growth does look to be sustainable as tensions between China and US ease. If a trade deal can be struck up, then Huawei will find it a lot easier to sell more smartphones on a larger scale and can expect higher gross revenues. In the technology sector, there have been updates to Facebook Inc (NASDAQ: FB), Blue Star Capital Plc (LON: BLU) and Castleton Technology Plc (LON: CTP)