From TfL Tube strike and Greek debt crisis to awful colleagues and FTSE woes: Here’s what got us talking this week August 21, 2015 There was a flypast. There was a bus in someone’s front garden. And somewhere – or perhaps everywhere – the sound of prosecco corks being popped overtook those of champagne. Here’s what got us talking this week 1. Our colleagues To be fair, it’s something we probably discuss most weeks, and we’re not alone. Perhaps that’s [...]
Volatility on European and Asian markets sets off the Vix “fear index” August 21, 2015 A widely watched “fear index” jumped 16 per cent in intraday trading to 22.19 points amid increasing concern about a slowdown in China’s economy. A purchasing managers survey released early this morning showed China’s factories shrank at the fastest rate in almost six-and-a-half-years in August. The news has weighed on stock markets in Asia, Europe [...]
FTSE hits 2015 low as China stocks plummet after sharp contraction in manufacturing August 21, 2015 The FTSE 100 hit a new intraday low for 2015 this morning, falling as low as 6,328 points, after shock manufacturing figures from China pushed markets across the world lower. Figures published overnight showed Chinese factories contracted at their fastest pace in six and a half years in August. The Caixin/Markit purchasing managers' index for [...]
Unlimited upsides? Check. Too big to fail? Check. History tells us careful investors could be about to make millions in China August 21, 2015 The Chinese government could be forgiven if it now feels rather pleased with itself. After interventions including banning negative reporting on markets, threatening to prosecute short-sellers, and ordering companies to engage in share buybacks, it has succeeded in arresting a stock market crash – albeit with a few bumps along the way. Not many governments [...]
Asian life insurer AIA weathers China storm to note rising profit August 21, 2015 ASIAN life insurer AIA yesterday reported a robust rise in the profitability of new policies it sells to customers alongside a double- digit increase in the value of this new business. Tottenham Hotspur-shirt sponsor AIA has shrugged off China’s slowdown. Formerly part of US giant AIG, it hiked its new business margin to 55.8 per [...]
Have we hit peak smartphone? Global growth hits two-year low as China’s sales decline for first time ever August 20, 2015 Is Peak Smartphone upon us? Drooping sales in China have caused smartphone sales to hit the brakes with the slowest growth rate since 2013, according to Gartner’s latest report, released today. In China, the world’s largest market, sales have fallen for the first time ever, with a four per cent decline year on year. Anshul [...]
Miner Glencore and China lead FTSE to seven-month low – London Report August 20, 2015 THE FTSE 100 fell yesterday to its lowest level since January, hit by anxiety over metals consumer China’s economy, with Glencore leading the mining sector lower after poorly-received results. The blue chip index was down 122.84 points, or 1.9 per cent, at 6,403.45 points by the close – its lowest closing level since 15 January, [...]
China stocks recover after second day of falls as markets nervously await Fed minutes August 19, 2015 Stocks in China finished today's session up, despite falls in early trading. That followed big losses on Tuesday. The Shenzhen Composite finished 2.19 per cent higher, at 2,222.05 points, while the Shanghai Composite rose 1.23 per cent to 3,794.11 points – having dipped as low as 5.3 per cent and 6.1 per cent respectively during the [...]
China slowdown: The two reasons British business should remain optimistic August 18, 2015 It’s easy to be down on China. Last week’s negative headlines after the unexpected devaluations of the renminbi (RMB) played into the “China slowdown” narrative which has taken root as this year’s accepted story. But we’re not giving China enough credit. By opening up the RMB to more market forces, it has moved one step [...]
China’s weakened yuan: From deflation to US equities, the effects are set to ripple out across the world August 18, 2015 One week on and investors are still digesting the impact of China’s sudden currency devaluation. Last week the People’s Bank of China (PBOC) dropped the daily reference rate it sets for the yuan by 1.9 per cent, and committed to taking the market’s views into account when setting the currency’s value in future. Consensus [...]