Aberdeen hit by weak emerging market flows May 6, 2014 ABERDEEN Asset Management, Europe’s largest independent fund house, yesterday reported a dip in revenues and profits as investors shunned its flagship emerging market products. The group, listed on the FTSE 100, said revenues fell two per cent and underlying pre-tax profits three per cent for the six months ending March after investors pulled about £8.8bn [...]
British American Tobacco sees volumes fall despite emerging market growth April 30, 2014 British American Tobacco (BAT) has reported a fall in revenue of 12 per cent at current rates of exchange for the three months ended 31 March. The decline in revenue was attributed to lower volume and the timing of price increases. The tobacco giant's cigarette volume from subsidiaries declined by one per cent 158bn, with [...]
Brits refuse to ditch emerging market stocks April 29, 2014 BRITISH investors are staying loyal to emerging markets despite billions of dollars being pulled from the troubled regions last year, according to a poll. Just nine per cent of UK shareholders said they had rotated away from emerging markets, despite share price performance lagging the rest of the world by 30 per cent last year. [...]
Decline in emerging markets slows Unilever sales growth April 24, 2014 Consumer goods giant Unilever has reported underlying sales growth of 3.6 per cent, with emerging markets rising by 6.6 per cent for the first quarter of 2014. However, market growth continued to decline in the emerging economies of South and South East Asia, while developed markets remained relatively fragile despite some improvement in southern Europe. [...]
Ashmore hopes for emerging market uptick April 10, 2014 BILLIONAIRE Mark Coombs, the founder of fund manager Ashmore Group, yesterday gave a bullish assessment of emerging market stocks despite his group seeing $6.2bn flow out of funds last quarter. Coombs, chief executive at the FTSE 250 group, tried to soothe concerns that emerging markets were broken in the wake of steep price declines and [...]
Kazakhstan’s tenge is the latest emerging market domino to fall. Here’s what you need to know February 11, 2014 Crunch time for another emerging market economy. The fall of Kazakhstan's tenge is the latest in a series of currency depreciations to hit emerging markets over the last few weeks. Kazakhstan's central bank governor Kairat Kelimbetov has pledged to "protect the tenge from sharp moves … away from the new level of 185 to [...]
Real emerging market risk is not repeat of 1997 Asian crisis February 3, 2014 Don’t prepare for a reversal in market’s appetite for risk anytime soon TO SOME analysts, the bloodbath in emerging markets over the past fortnight bears uneasy similarities to the early stages of previous full-blown emerging market crises. As a recent note by Brewin Dolphin pointed out, such episodes have historically recurred every 15 years or [...]
Diageo sales hit after emerging markets slow January 30, 2014 DIAGEO shares slid nearly five per cent yesterday after China’s crackdown on gifting and weak beer sales in Nigeria led to lower than expected sales. The Chinese government’s anti-extravagance measures caused sales of its white spirits brand Shui Jing Fang to drop by 66 per cent as a squeeze on the baiju market prompted rival [...]
Emerging market desperation risks a repeat of 1997 Asian crisis blunders January 29, 2014 THE EMERGING market sell-off has prompted central bankers to act. Yesterday, South Africa’s central bank raised its benchmark interest rate by 0.5 percentage points to 5.5 per cent, citing the depreciation of the rand and an increased risk to the country’s inflation outlook. The Reserve Bank of India has also increased its benchmark rate by [...]
London Report: FTSE buoyed by fall in emerging market worries January 28, 2014 THE UK’S blue chip share index picked up yesterday from five-week lows after finding strong technical support in the face of easing tensions in emerging markets and prospects of mergers and acquisitions. Emerging market assets steadied after a three-day slump, reviving confidence in global risk assets and reassuring investors worried that companies will be hit [...]