FTSE 100 index opens flat as Prudential rises but miners extend losses after falling yesterdays March 9, 2016 The FTSE 100 index opened flat today, after it faltered yesterday on the back of weak Chinese trade data. The UK's blue-chip index rose 0.02 per cent to 6,126 points on the news. "The weakness of yesterday’s data merely serves to reinforce the importance of this weekend’s retail sales and industrial production data. A similarly abysmal showing here [...]
Buy when there’s blood on the floor: The market chaos of January and February has created a buying opportunity March 9, 2016 There was much to concern investors in the first two months of 2016. Chinese growth has slowed further, and the renminbi devaluation has kept investors nervous that there is a more intense currency war ahead. Commodity prices have remained under pressure, with oil prices hitting the lowest levels since 2003. Closer to home, investors have [...]
Pizza Express serves up strong half-year sales as it ramps up expansion March 8, 2016 Pizza Express sales have jumped by 15.9 per cent over the last six months, boosted by new menu launches and its expansion both in the UK and abroad. The chain, which was sold to Chinese private equity firm Hony Capital in 2014 for £900m, said turnover grew to £267.2m in the 28 weeks to 10 January compared with [...]
Burberry’s share price jumps as mystery investor shops at the luxury group March 8, 2016 Burberry lead the FTSE 100 this morning after reports last night that a mystery investor has built up a five per cent stake in the luxury goods company. Regulatory filings show that the shareholder's stake went over the five per cent disclosure threshold on 11 February, with HSBC acting on behalf of the investor. A separate [...]
FTSE 100 opens lower as miners’ share prices including Anglo American, Glencore and BHP Billiton fall after weak Chinese trade data March 8, 2016 The FTSE 100 index opened down this morning, following Asian markets lower after Chinese trade data declined by more than expected. The UK's blue-chip index fell 0.71 per cent to 6,136 points in early morning trading. "This morning’s latest Chinese trade numbers for February speak to that concern about the Chinese economy as imports declined 13.8 [...]
China’s foreign exchange reserves are falling at a slower pace March 7, 2016 The stash of US dollars used by China to shore up the value of its currency, the yuan, declined at a slower rate in February. China had $3.202 trillion of foreign exchange reserves last month, according to figures released by the State Administration of Foreign Exchange this morning. It is down by $29bn (£20.5bn) on January. [...]
Godiva is galloping into growth markets: Chief executive Mohamed Elsarky talks managing growth and high quality March 7, 2016 As Godiva celebrates its 90th anniversary, few would contest the heritage of the Belgian chocolatier. But since Turkish food manufacturer Yildiz Holding acquired the firm from Campbell Soup in 2007, it has been given a new lease of life. Now, chief executive Mohamed Elsarky has his sights on Asia. Since entering the Chinese market in late 2009, nearly 70 stores [...]
Chinese economy: China will “absolutely not experience a hard landing” says chief economic planner Xu Shaoshi March 6, 2016 Despite lingering concerns of a slowdown in the Chinese economy, China’s chief economic planner has said it will "absolutely not experience a hard landing". Growth forecasts for the Chinese economy have been cut, but any predictions of a hard landing are "destined to become nothing", Xu Shaoshi, head of China’s state planning agency, has said. [...]
FTSE finishes the week higher after Brent crude, WTI oil and commodities prices rally March 4, 2016 The FTSE 100 finished the week comfortably above the 6,000 mark, after a week in which the price of oil surged. The FTSE finished at 6,199 points – 1.1 per cent higher. That brought its total rise for the week to 1.7 per cent. The rally came after the price of oil surged every day [...]
Why Chinese equity crowdfunding is taking its lead from the UK – and what challenges the sector faces March 3, 2016 Despite a relatively slow start, the past two years have seen exponential growth in the Chinese equity crowdfunding sector, and there are indications that it could skyrocket in the 12 months to come. Chinese New Year on 8 February kicked off the Year of the Monkey, but will 2016 be a year of alternative finance [...]