McDonald’s fired its CEO

Weekly Report - 04/11/2019

McDonald's CEO violated company policy


The famous company McDonald's announced last Sunday that it has dismissed Steve Easterbrook the Chief Executive of the company because he violated the company's policy by having a consensual relationship with an employee. The company said in a release that the board determined Easterbrook “demonstrated poor judgment” by engaging in the relationship. McDonald’s did not present any additional details regarding the relationship. The company will replace its CEO with Chris Kempczinski immediately. In an email to employees Easterbrook wrote that “This was a mistake,” “Given the values of the company, I agree with the board that it is time for me to move on.”

The Week that was

European majors, end to the week with a positive attitude. The DAX30 went up by more than 0.70% and was the main driver for last Friday. The CAC40 was also positive, with increases of more than 0.5%.

Earnings on the day appeared despite the negative signs toward trade, while the Chinese economic data and the U.S. provided some support. On the geopolitical viewpoint, releases late in the week suggested that China and the U.S. are having difficulties to come up with a longer-term trade deal and that somewhat lifted the risk appetite moving into Friday’s session.


Main Focus This Week

We have a long day ahead that will probably provide a direction for the rest of the week as well. Eurozone economic calendar first starts with the October Manufacturing PMIs for Spain and Italy, before the finalized figures for France, Germany, and the rest of the Eurozone.

Excluding any other factors from prelims, Italy and the Eurozone’s finalized PMIs will probably drive the majors today and give the direction that investors need. Hints are indicating that the DAX will be susceptible to updated numbers out of Germany. Regarding the geopolitical perspective, any political news from the United Kingdom will also influence the general sentiment.


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