Markets hit fresh highs February 24, 2014 BOOMING stocks hit fresh highs on both sides of the Atlantic yesterday as upbeat investors kept on pumping cash into equities, fuelled by economic recovery and low interest rates. The surge in stocks follows a flood of merger and takeover activity, with Facebook’s $19bn (£11.4bn) buyout of messaging service Whatsapp last week setting the tone [...]
What you need to know before the open February 24, 2014 European markets are expected marginally lower this morning, following Asian counterparts, which were left unsatisfied by the G20’s commitment of an extra $2 trillion in output over the next five years. The UK market posted its third successive gain last week, but things in the rest of Europe and the US weren’t as positive, following [...]
Asian markets riding high on US data February 21, 2014 Asian markets are bouncing back in the wake of better than expected US manufacturing data. US factory activity accelerated at its fastest pace for nearly four years in February, according to Markit’s preliminary US manufacturing purchasing managers’ index. The US Labour Department also showed there were fewer applications for unemployment benefit last week. The results [...]
Petra Diamonds chief predicts buoyant demand from China February 20, 2014 THE CHIEF executive of Petra Diamonds yesterday shrugged off concerns of a growth slowdown in China to predict increased demand for diamonds from the world’s second largest economy, as the FTSE 250-quoted miner unveiled solid first-half results. “Growth is being redirected from high levels of infrastructure spend to a consumer-type economy,” Johan Dippenaar told City [...]
How free markets are making solar energy feasible without subsidies February 20, 2014 IT MAY be a clean form of energy, but solar has become a dirty word in some circles. Given expensive subsidies and feed-in-tariffs, solar (like other renewables) has looked like yet another uncompetitive distraction. It’s little surprise that countries like Germany, which have made the greatest commitments to renewables, also have the highest domestic energy [...]
What you need to know before the open February 20, 2014 Europe is expected to open lower this morning, after disappointing Chinese manufacturing data and yesterday’s release of the latest Federal Open Market Committee minutes. The minutes showed a further taper of $10bn is likely in March. The Chinese HSBC purchasing managers’ index has come in at 48.3, considerably below expectations of 49.4. Corporate news Centrica [...]
Asian markets slide as Chinese manufacturing disappoints February 20, 2014 Asian stocks are falling in the wake of the preliminary China purchasing managers' index (PMI) from HSBC/Markit for February, which fell to a seven-month low of 48.3. The index continued to slide from January's reading of 49.5, as employment declined at the most rapid rate seen in the past five years. A slowdown in the [...]
Peugeot signs rescue package with Dongfeng February 19, 2014 FRENCH car group PSA Peugeot Citreon has sealed a €3bn (£2.5bn) rescue deal with Chinese group Dongfeng, which the firm hopes will steady its finances and open up expansion in Asian markets. Dongfeng and the French state will each pay €800m for 14 per cent of the carmaker to match the Peugeot family’s reduced holding. [...]
Upwardly mobile technology February 19, 2014 Melissa York talks you through what to expect from the big-hitters at this year’s MOBILE WORLD CONGRESS THE TECH world will gather on Monday in eager anticipation as some of the biggest players in portable technology unveil their latest creations at the GSMA Mobile World Congress (MWC) 2014. The four-day conference in Barcelona, currently in [...]
Asian markets calm as Japan boosts bank lending February 19, 2014 Asian markets have so far been indecisive as investors continue to await developments regarding Chinese interest rates. The People's Bank of China (PBOC) is attempting to drive up the cost of money to encourage companies to deleverage and reduce shadow banking activity. However, there remain concerns that tightening may hurt economic growth over the short [...]