BlackRock sees net inflows of $50bn despite difficult market conditions October 14, 2015 BlackRock reported third quarter net inflows of $50bn (£32bn), despite hefty outflows from investors in the Asia-Pacific region amid difficult market conditions. Volatility in stock and bond markets resulted in net outflows of $7.5bn from clients in the Asia-Pacific region, which partially offset inflows from investors in the Americas. Assets under management at September 30 [...]
At the close: China concerns push FTSE 100 to finish down October 14, 2015 The FTSE 100 closed down for the third session in a row on Wednesday following data from China that showed deflationary pressures mounting. The index was 1.15 per cent lower at the close, at 6,269.61 points. Stocks with exposure to China fell, including Standard Chartered and luxury retailer Burberry Group, which ended the session 1.46 per cent [...]
Everything you need to know about the SABMiller and AB InBev deal: What happens next? October 14, 2015 SABMiller's board has given a conditional nod to AB InBev's cash offer of £44 a share, with a partial share consideration of AB InBev shares for stakeholders Altria and BevCo to reduce their tax liabilities. The London-listed brewer has also given its approval to move the deadline for a firm offer back to 5pm on 28 October. [...]
Volkswagen emissions scandal contributes to Standard & Poor’s warning for global carmakers October 14, 2015 Standard & Poor's has said the global car industry faces mounting uncertainties, from slow growth in Asia to the continuing fallout from the Volkswagen emissions scandal. The ratings agency said it expected regulators to heighten their scrutiny of emissions levels, and introduce more independent testing throughout the global industry in response to the revelation that [...]
These are the seven emerging market funds that are actually performing well after Black Monday October 14, 2015 Emerging market funds were pummelled hard by Black Monday. But not quite all of them. There are seven emerging markets funds with returns in the double-digits despite the great fall of China and the shockwaves that hit global markets after it. The top performer has been NFU Mutual’s Global Emerging Markets fund, according to data [...]
Hargreaves Lansdown share price rise as it issues record first quarter results ahead of Lloyds Banking Group share sale October 14, 2015 Hargreaves Lansdown's share price jumped as it released record inflows for the first quarter, and issued a bullish outlook for the financial year ahead, thanks to next spring's Lloyds Banking Group share sell-off. The figures The Bristol-based group attracted a record 47 per cent new business inflows of £1.43bn for the three months to 30 September on the same period last [...]
Short sellers are circling asset managers Aberdeen and Ashmore because of their emerging markets exposure October 14, 2015 Hedge funds are circling asset managers such as Aberdeen, Ashmore, Hargreaves Lansdown and BlackRock in the belief that turbulence in the emerging markets will eat into their profitability. Emerging markets, once a bright spark of the global economy, have struggled over the last few years. Commodity prices have crumbled on the back of weak Chinese demand, [...]
China’s new middle class threatens Beijing October 13, 2015 Credit Suisse has published its 2015 Global Wealth Report. It is one of the most comprehensive tools analysing the distribution and changing nature of wealth across the world. Much of the response to the report has focused on the news that the global top one per cent are still rich and appear to be getting [...]
FTSE-listed miners Glencore, Anglo American, BHP Biliton and Antofagasta’s share prices rattled by weak Chinese data October 13, 2015 Shares in London-listed miners were rattled this morning after Chinese imports slipped 20 per cent last month, reinforcing fears that the country's economy is losing momentum more quickly than initially thought. Glencore fell 5.1 per cent to 114.95p per share, Anglo American slipped 2.5 per cent to 675.15p per share, BHP Billiton fell 1.87 per cent to 1,155.50p per share and [...]
Asian markets rattled by mixed Chinese trade data as exports hold up but imports tumble further than expected October 13, 2015 Asian markets were shaken by mixed signals from fresh China trade data that rekindled worries about a slowdown in the world's second-biggest economy. The figures for September showed that, despite hitting a record-high trade surplus with exports holding up far better than expected, imports tumbled further than predicted. Economic data has been weak over the summer and [...]