London Report: Retail gloom and US gridlock weigh on FTSE October 8, 2013 THE UK’S top share index slipped to three-month lows yesterday as weak data and downbeat analyst comments hit retailers and the fiscal deadlock in the United States kept broader sentiment subdued. In contrast to buoyant recent British data, retail sales growth slowed for a second month in September, according to BRC numbers. Analyst notes on [...]
New York Report: Wall Street on the slide over shutdown fear October 8, 2013 US stocks slid yesterday as traders cashed in gains in some of the year’s best performers amid little progress to end a political crisis in Washington that could affect the US fiscal standing and economic recovery. A gauge of Wall Street anxiety hit its highest level in more than three months as equity markets showed [...]
Investment Comment: Emerging markets: A risky bargain October 8, 2013 Despite cheap valuations, investors must exercise extreme caution EMERGING market equities have underperformed developed markets for three years in a row. This year has been particularly volatile for the former, with concerns over the deceleration of the Chinese economy and the growing realisation that a wind-down in quantitative easing (QE) by the US Federal Reserve [...]
Experts tip developing market equity funds October 8, 2013 IT HAS been a testing year for emerging market equities. While the S&P 500 has gained roughly 16 per cent year to date, the MSCI Emerging Markets index has fallen from over 1,080 at the beginning of the year to recent levels close to 1,000. But some see the tides turning. Research by JP Morgan [...]
Dow off over 100 points with no end to US shutdown in sight October 8, 2013 US index the Dow Jones Industrial Average is off over 100 points this session as investors are starting to get worried about the possibility of a default. Earlier today an aide of GOP speaker John Boehner said that President Barack Obama had called – apparently the Democrats won't negotiate until after the debt ceiling is [...]
Goldman takes 50 per cent stake in insurer Hastings October 8, 2013 American investment bank Goldman Sachs has taken a 50 per cent stake in UK motor insurer Hastings. The deal will see Hastings valued at £700m. Talk of a deal has been around since August when it emerged that Goldman Sachs was thought to have turned to capital markets to raise money from a bond issue. [...]
No change to Eurozone austerity targets as region emerges from recession, says IMF October 8, 2013 (International Monetary Fund) There is no need to adjust austerity targets in the Eurozone, said the International Monetary Fund (IMF) today. The IMF, releasing its latest World Economic Outlook this afternoon, said that fiscal changes in periphery countries do not need to be made unless growth slows markedly. The region, despite "still being constrained by [...]
Three quarters of firms optimistic about the future, says IoD October 8, 2013 A new survey of business leaders has found that 75 per cent of Institute of Directors members believe the outlook is now brighter than at any stage since the financial crisis of 2008. Of the 1,309 members who responded to the survey 46 per cent now have high confidence for the next 12 months, with [...]
IMF raises UK growth forecast October 8, 2013 The IMF has upgraded its growth forecasts for the UK in its Wold Economic Outlook. The UK is expected to grow by 1.4 per cent in 2013 an increase from the previous projection of 0.9 per cent. In 2015 the IMF expects the UK will grow by 1.9 per cent an increase from the previous [...]
368 Royal Mail staff turn down £2,000 shares October 8, 2013 368 out of 150,000 members of staff at the Royal Mail have opted out of free shares which will be worth about £2,000, latest figures show. 10 per cent of shares were reserved for staff; the general public can buy shares until midnight tonight. How to buy shares in Royal Mail