Greek drama and mining pull FTSE to six-month low – London Report July 7, 2015 BRITAIN’S benchmark equity index dropped yesterday to its lowest level in around six months, hit by persistent concerns over Greece and a pullback in mining stocks as metal prices fell. The blue-chip FTSE 100 index closed down 1.6 per cent at 6,432.21 points, around its lowest since mid-January. Global stock markets lost ground after a [...]
Budget for a greater Britain: What the City needs from the chancellor July 7, 2015 Amid the deluge of news about EU reform and the Greek debt crisis, you could be forgiven for forgetting there’s a Budget today. But that would be to overlook an opportunity for the City. This is George Osborne’s first Budget since the Conservatives were elected to govern alone and we’ll get a clear sense of [...]
Glencore share price falls as FTSE miners feel the heat from commodities selloff July 7, 2015 London-listed miners felt the heat today after the outlook for the Chinese economy darkened amid ongoing equity market turmoil. Earlier in the day copper prices fell 5.9 per cent to a six-year low of $2.389 a pound on concern about economic growth in China, the world's top metals consumer. It comes a day after Chinese brokerages [...]
Fears on China and Greece hit US share prices – New York Report July 6, 2015 AVOLATILE session saw stocks falling after China implemented emergency measures to stop a selloff in Shanghai’s market and Greeks resoundingly backed their government in rejecting the austerity terms of a bailout. Equity futures tumbled at the open late on Sunday after Greeks voted “No” to the terms imposed by its creditors. The Dow Jones industrial [...]
Brent crude oil price falls as selloff deepens July 6, 2015 The global benchmark brent crude slipped 6.3 per cent to $56.54 per barrel today, below the 100-day average, amid the Greek debt crisis and continued turmoil in China's battered stock markets. The selloff deepened from earlier today, when prices collapsed below the $60 per barrel mark for the first time since mid-April, hitting $58.89 per barrel. Read [...]
US stocks close lower amid Greek debt crisis July 6, 2015 United States stocks closed lower today, however they clawed back some of the sharp losses seen at the open, after European and Asian markets which shook off the fallout from the Greek debt crisis earlier in the day. The Dow Jones Industrial Average ended the day down 46.53 points, or 0.26 per cent, to just [...]
China freezes IPOs as stock markets nose-dive July 5, 2015 China has reportedly stepped up efforts to stabilise its tumultuous stock market by suspending initial public offerings and creating a market stabilisation fund. The world's second-largest economy halted new share offerings yesterday according to the Wall Street Journal. This could improve liquidity because large amounts of money are frozen when subscriptions are taken, diverting it away from current [...]
China in the throes of investment fever: Ordinary Chinese gripped by buzz of stock market speculation July 2, 2015 Three years ago China was in the grip of a walnut investing bubble. In an episode akin to 17th century tulip mania, wealthy Chinese paid up to £3,000 (¥30,000) for a pair of walnuts which cost £36 (¥350) several years prior. In the belief that rolling a nut in the palm of the hand [...]
All three major indexes fall on Greek worries – New York Report June 29, 2015 LOSSES were extended in heavy trading yesterday after the collapse of Greek bailout talks,with all three major US indexes falling more than one per cent for the first time since 26 May. The Dow Jones industrial average fell 262.14 points, or 1.46 per cent, to 17,684.54, the S&P 500 lost 32.56 points, or 1.55 per [...]
Greece adds to toxic mix of global risks – CNBC Comment June 29, 2015 Grexit, Grexident and now Greferendum – the debt crisis in Greece has thrown up plenty of new portmanteaux, as linguistics professors would call these often tortuous combinations of words. And owing to the Greferendum becoming a reality this weekend, it now looks increasingly likely that the others may also move from concept to execution. Greek [...]