Global stocks up … May says Britain is ready to walk away without Brexit deal … Investors see green in marijuana stocks
BEIJING (AP) – Global stocks rose today after Wall Street hit a new high and a survey showed Japanese manufacturing accelerating. In early trading, London’s FTSE 100 rose 0.9 percent, Germany’s DAX gained 0.7 percent and France’s CAC 40 advanced 0.7 percent. In Asia, the Shanghai Composite Index closed up 2.5 percent and Tokyo’s Nikkei advanced 0.8 percent. Hong Kong’s Hang Seng gained 1.7 percent and Seoul’s Kospi was up 0.7 percent. Wall Street is poised to open higher with Dow futures up 0.2 percent and S&P futures up 0.1 percent.
LONDON (AP) – British Prime Minister Theresa May’s Brexit blueprint is in tatters after it was rejected by the European Union at a summit the U.K. media branded a “humiliation.” European Council President Donald Tusk said bluntly at a meeting in Salzburg, Austria, Thursday that parts of May’s plan simply “will not work,” while French President Emmanuel Macron called pro-Brexit U.K. politicians “liars.” A rattled May told reporters that Britain was prepared to walk away from the EU without a deal.
BANGKOK (AP) – A Thai court has ordered Ford Motor Co. to pay 291 customers a total of about $720,000 in compensation for selling cars equipped with faulty transmissions. Today’s ruling by Bangkok South Civil Court is welcomed as a victory in a country where consumers rarely win redress. Most of the plaintiffs in the class action suit will get payments of $800 to $8,000 each depending on the time involved in repairing their vehicles.
ABERDEEN, Md. (AP) – The drugstore chain Rite Aid says its distribution center in Aberdeen, Maryland is temporarily closed and workers will be provided with grief counselors following a shooting Thursday morning that left four people dead, including the suspected shooter. Authorities say a temporary employee got into an argument and began shooting colleagues, killing three before fatally shooting herself.
NEW YORK (AP) – Some investors are seeing and smelling green in marijuana stocks. Canada is getting ready to legalize pot next month, leading to giant gains for Canada-based companies listed on U.S. exchanges. The value of the British Columbia-based company Tilray has jumped tenfold since its initial public offering just two months ago. But Ken Mahoney, CEO of New York based Mahoney Asset Management, is cautious. He says, “We just went through this eight months ago with cryptocurrencies.”