Chinese stock market crash 2015: Money has poured into Japan as Asian markets crumble over China woes August 25, 2015 Money has flowed into Japanese exchange traded funds (ETFs) this year as the market stands out as the last area of safety in Asia. So far this year, overseas investors have piled $16.4bn into ETFs tracking Japan’s stock markets – nearly quadruple last year’s total of $4.4bn, according to data from Markit. The [...]
Best of the Brokers for 25 August 2015 August 25, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com PLAYTECH Canaccord Genuity reiterated its “buy” rating on the gambling software company, but raised target price from 950p to 1,065p. The broker said Playtech’s purchase of Plus500 is an “exciting adjacent marketspace” for the firm, and noted “the core online gaming business continues [...]
Extractive firms lead UK slump as Shanghai slides – London Report August 25, 2015 THE FTSE 100 slumped 4.7 per cent yesterday to its lowest level in almost three years, with all stocks but one in the red and miners leading the slide on growing fears of a China- led global economic slowdown. The blue-chip index was down 288.78 points at 5,898.87, the worst close since late 2012. The [...]
Markit expands fintech service with acquisition August 25, 2015 Financial data supplier Markit is expanding its reach in the global financial industry, as it announced yesterday it has agreed to purchase foreign exchange trading service DealHub for an undisclosed sum. Markit said the acquisition will allow the group to expand its service, offering a one-stop shop for banks, brokers and asset managers. Jeff Maron, [...]
Meggitt bags big contract win with Canadian Armed Forces August 25, 2015 ENGINEERING company Meggitt yesterday announced it had won a $25m (£16m) contract to provide operator and maintenance support services to the Canadian military at bases across Canada. Under the agreement, the firm, which has supplied weapons simulation technology to the Canadian Armed Forces for over 20 years, will provide in-service support for its small arms [...]
Black Monday 2015 crash reaction: If the global stock markets start to panic, Twitter’s sure to follow suit… August 25, 2015 Suffice to say Twitter went into meltdown almost as quickly as the markets yesterday. Former top Treasury official Damian McBride kicked off the crazy yesterday morning with some helpful financial advice. “Get hard cash in a safe place now,” he urged. “Don’t assume banks and cashpoints will be open, or bank cards will work.” [...]
Homeowner remortgages surge as fears of base rate hike grow August 25, 2015 MORTGAGE borrowers are locking in record-low interest rates as the prospect of a rate rise and higher loan costs loom. The number of remortgage loans reached 46,423 last month, a massive 89 per cent jump on the same month last year and the most since November 2008, according to estimates from property services group LMS. [...]
Lord Stuart Rose backs student property firm August 25, 2015 FORMER Marks & Spencer chairman Lord Stuart Rose has emerged as a surprise backer of Select Property Group, a developer and manager of student housing across the UK. Select said yesterday that Rose has invested a “multi-million pound” sum alongside Terry Green, the former boss of BHS and Debenhams. The privately owned group, which was [...]
TalkSport owner UTV confirms discussions to sell TV stations August 25, 2015 TALKSPORT owner UTV MEDIA yesterday confirmed it is in talks to sell its TV stations, with ITV mooted as the likely buyer. The Northern Ireland-based group, which owns the UTV and UTV Ireland networks, said it was holding discussions over the “potential sale of its television assets”. UTV Media is one of only two independent [...]
Miner South32 to slash costs as prices slump August 25, 2015 South32, the miner spun off from BHP Billiton earlier this year, announced plans to cut costs by $1bn (£634m) over the next three years as its maiden results missed expectations. The company said pro-forma net profit for the 12 months to the end of June fell to $28m from $64m the previous year mainly due [...]
