Asos share price crashes 42pc as it slashes margin guidance June 5, 2014 A shock announcement from Asos this morning. The online fashion retailer has cut its full-year operating profit margin from 6.5 per cent to 4.5 per cent. Investors have reacted with extreme wariness – the share price has just slumped over 42 per cent. Asos has been heading off the impact of a flurry of competition, heavy [...]
Asian markets slide before ECB meeting June 5, 2014 Asian markets have taken a turn for the worse in anticipation of the European Central Bank's (ECB) meeting later today. The ECB is expected to cut the primary refinancing rate to 0.1 per cent and commence a host of stimulus measures, according to survey of economists conducted by Reuters. More good news on the US [...]
China to fuel fresh boom in TV income for English clubs June 4, 2014 ENGLISH football is on course for a Chinese invasion that is likely to propel top clubs’ already rocketing income to even giddier heights, industry experts have predicted. Despite the majority of teams now being foreign-owned, including Abu Dhabi-bankrolled Manchester City, China, the world’s second largest economy, is yet to flex its muscles in the Premier [...]
What you need to know before the US open June 3, 2014 A lower open is expected for European markets this morning, as investors look towards inflation and unemployment numbers for the Eurozone. The prospect of new intervention from the European Central Bank, expected to be announced at its policy meeting this week, has been buoying market confidence. Asian counterparts moved higher in trading today, on the [...]
Asian markets buoyant on Chinese PMI data June 3, 2014 Asian markets are up for the second day after data showed the Chinese services sector grew at its fastest pace in six months in May. The official non-manufacturing purchasing managers' index rose from April's 54.8 to 55.5 in May, according to the National Bureau of Statistics. New orders reached an eight-month high of 52.7, up [...]
Here’s why aluminium could be the new nickel June 2, 2014 After an Indonesian export ban caused the price of nickel to soar over 40 per cent this year due to a squeeze on supply, the market is poised for aluminium prices to follow suit. With more than 10 per cent of the world’s bauxite (aluminium ore) coming from Indonesia before the ban – equivalent to [...]
What you need to know before the US open June 2, 2014 US markets are expected to open higher following strong trading from European and Asian markets. Data released on Sunday showed the fastest increase in Chinese factory activity for five months in May. However, two more surveys showed a decline in house prices, adding to fears that the housing sector may be a drag on future growth. [...]
The biggest story since the end of the Cold War: China’s new anti-West axis June 2, 2014 IN THE words of the great stoic philosopher Marcus Aurelius, “The object of life is not to be in the majority, but to escape finding oneself in the ranks of the insane.” By this definition, the greater number of foreign policy analysts ought to be speedily locked up, as they have so underrated the seismic [...]
What you need to know before the open June 2, 2014 European markets are expected to receive a boost this morning after postive Chinese manufacturing data lifted Asian markets Det Norske Oljeselskap ASA, a part-owner of Noway's largest offshore oil discovery in the last several decades, may move after agreeing to buy Marathon Oil Corp.’s local unit for $2.7bn. European equities rose 1.9 percent in May [...]
Chinese manufacturing boosts Asian markets June 2, 2014 Asian markets are on the up after the third successive pick-up in the Chinese manufacturing purchasing managers' index (PMI). PMI rose to 50.8 in May, according to the National Bureau of Statistics and China Federation of Logistics and Purchasing. The new data may add further weight to the view that the world's second largest economy is not [...]