Markets Overview

  • ASX SPI 200 futures up 0.1% to 6,990.00
  • Dow Average up 0.6% to 35,609.09
  • Aussie up 0.2% to 0.7145 per US$
  • U.S. 10-year yield fell 2.6bps to 1.7626%
  • Australia 3-year bond yield rose 1bp to 1.34%
  • Australia 10-year bond yield rose 1bp to 1.91%
  • Gold spot up 0.4% to $1,807.72
  • Brent futures up 0.4% to $89.50/bbl

Economic Events

  • 9am: (AU) Jan. Markit Australia PMI Services, prior 45.0
  • 9am: (AU) Jan. Markit Australia PMI Composite, prior 45.3
  • 10:30am: (AU) Australia to Sell A$1 Billion 126-Day Bills
  • 10:30am: (AU) Australia to Sell A$1 Billion 98-Day Bills
  • 11:30am: (AU) 4Q NAB Business Confidence, prior -1
  • 11:30am: (AU) Dec. Private Sector Houses MoM, prior 1.4%
  • 11:30am: (AU) Dec. International Trade Balance, est. A$9.85b, prior A$9.42b
  • 11:30am: (AU) Dec. Building Approvals MoM, est. -1.0%, prior 3.6%
  • 11:30am: (AU) Dec. Exports MoM, est. 1%, prior 2%
  • 11:30am: (AU) Dec. Imports MoM, est. 4%, prior 6%

Other News

UEFA has appeared to open bizarre legal proceedings against a small pizza restaurant in Germany because of the name of one of their dishes.

European football’s governing body has taken action against Pizza Wolke – a pizzeria located in the town of Giessen – because one of their dishes is named ‘Champignons League’.

Topped with mozzarella and mushrooms, the ‘Champignons League’ dish has caused outrage in UEFA’s headquarters in Nyon because of the infringement on their trademark of the competition’s name.

‘Champignons League’ translates in German to ‘Mushroom League’ but UEFA have taken action against the restaurant because of its obvious links to their competition.

The Champions League is European football’s premier club competition and it appears the governing body will go to any length to protect their lucrative brand.

In a letter to the restaurant’s owners, a redacted version of which they published on Instagram, UEFA wrote: ‘We would like to inform you that in the present matter we are representing UEFA. Proper authorisation is vigorously assured by a lawyer.’

UEFA’s legal department confirmed their plans to take action against Pizza Wolke when asked by German news agency SID.

In the caption on the restaurant’s Instagram post, the owners of Pizza Wolke wrote: ‘Pizza Wolke Vs. UEFA€ Long live the pizza CHAMPI(G)NONS LEAGUE! I feel honoured ! As a kid of soccer! An advertisement by UEFA? Seriously?

As well as their popular small restaurant, Pizza Wolke also specialise in frozen pizzas.

They have reportedly got their pizzas into 2,000 supermarkets across Germany with 300,000 sold since December 2020.

Their huge success prompted the owners to take out another industrial unit so they could cope with the demand for their pizzas.

It’s claimed they would make 2,500 pizzas a day in their original factory but have now had to take new space so production can be ramped up to 7,000 per day.