End of the world’s biggest ever credit boom means there will be more “Glencores” ahead September 29, 2015 It’s the great unwind show. Admittedly, Glencore’s latest problems may run deeper and look more specific, but together with Vale and Rio, the other great international mining houses plus their suppliers, like America’s Caterpillar, all are suffering the fall-out from the end of the world’s biggest ever credit boom. Oil is testing recent lows and [...]
City confidence in Glencore evaporates as share price plunges amid China woes and commodity troubles September 29, 2015 The last week of trading in September has been particularly harsh for Glencore as the company has seen its price crash through the £1 level and officially turn into a “penny share”. As confidence in the Chinese economy’s ability to halt the slide in growth continues to wane, optimism for mining sector stocks has been [...]
FTSE slumps as miners plumb China depths – London Report September 29, 2015 BRITAIN’S leading share index fell yesterday as fears grew over mining group Glencore’s ability to withstand a metals price slump and as Vodafone’s European tie-up talks with Liberty Global ended. The FTSE 100 index was down 2.5 per cent, at 5,958.86 points at its close, a touch lower than European indexes. The UK market is [...]
What’s eating key global currencies? The effects of the fallout of worldwide rate hikes and a slowing Chinese economy explained September 29, 2015 The world's key currencies have been subject to significant sideways trading in the last few months, including the euro- dollar, sterling-dollar and yen-dollar. The relatively stable euro-dollar rate is down to relative interest rates between the US and Eurozone staying stable. This is backed up by improving inflation and unemployment in Europe and [...]
What gold tells us about a Fed rate hike – eToro Tips & Picks September 28, 2015 Gold has been an interesting play over the last week or so, and most definitely throughout yesterday’s session. A report in the weekend press highlighted the fact that the gold rally may well be over, on the back of the Fed’s move to start raise interest rate – and we saw that last week [...]
Glencore share price history: A timeline of what went wrong from record drops to credit rating outlook fears September 28, 2015 The commodity price rout and concerns over a slowdown in the Chinese economy have helped send Glencore shares around 70 per cent lower this year – making it the worst performer on Britain's FTSE 100. And shares in the embattled commodities miner and trader continued their downwards trajectory today, after a particularly bearish note from [...]
Bank of England may put cap on lending for buy-to-let landlords September 27, 2015 THE BOOMING buy-to-let mortgage market is putting the UK’s banking system at risk, the Bank of England has warned. Officials are watching for lenders making it easier for would-be landlords to get loans, with the government weighing up whether to give the Bank powers to cap buy-to-let lending as it can for owner-occupied loans. A [...]
Rugby World Cup 2015 and faster delivery times helps House of Fraser as half-year sales jump September 26, 2015 Department store chain House of Fraser has hailed a jump in sales over the first half, boosted by further improvements to its online offer including faster delivery times. The company, which was taken over by Chinese consortium Nanjing Xinjiekou last year, said like-for-like sales were up 6.5 per cent, with gross total value (GTV) rising to £574.2m in the six [...]
Glencore share price hit worst in fallout from China’s slowdown: The scale of impact on commodity stocks and financial services revealed September 25, 2015 Just one month after plummeting Chinese equity markets sent shockwaves across global stock exchanges, industries around the world are seeing the damaging effects that China’s slowdown is having on jobs, growth and investment. “The Chinese slowdown and the Chinese economic rebalancing are pretty remorseless,” Kit Juckes, macro strategist at Societe Generale, told City A.M. [...]
Eurozone investors and businesses shrug off global fears in September September 24, 2015 Business and investor confidence is holding up in the Eurozone, despite volatility in global markets and fears over Chinese growth. The IFO business climate index published yesterday, which measures German business sentiment, rose to 108.5 in September, despite analysts predicting it would fall to 108. German companies reported greater optimism about future business developments, suggesting [...]