Markets buzz on Chinese liquidity shot January 21, 2014 Yesterday, Chinese GDP numbers showed that economic growth slowed in 2013 from 7.8 per cent to 7.7 per cent. In response, the Chinese government last night administered a short-term liquidity injection to commercial banks, showing its willingness to act in the face of dwindling growth. Market strategist Ishaq Siddiqi of ETX Capital comments that markets [...]
What you need to know before the open – 21/01 January 21, 2014 With German and European ZEW surveys for January out this morning, Europe is set to open up. A positive number will most likely push markets higher. The International Monetary Fund is expected to revise up its growth forecasts for the UK. #FTSE100 called +20pts at 6855 as 2014 optimism gets fillip from PBOC interventing to [...]
Slower Chinese economy beats state’s targets January 20, 2014 THE CHINESE economy grew by 7.7 per cent during 2013, the joint slowest expansion recorded for over a decade, but above the government target for a 7.5 per cent boost. Many emerging markets suffered from slower growth last year, after markets began to expect the tapering of the US quantitative easing programme during the summer. [...]
China gold imports to dip in 2014 January 20, 2014 Chinese gold imports look set to fall from last year’s record levels, analysts warned yesterday, despite the precious metal’s declining price. “I think that perhaps a figure of 10 to 15 per cent down year-on-year is probably about right for Chinese imports of gold. There is a good level of stock there that can be [...]
Bitcoin faces latest regulation barrage – this time it’s from Finland January 20, 2014 Today has brought another state-led assault on Bitcoin – Finland, like neighbour Norway, has deemed the virtual currency a commodity, rather than a currency. Finland’s central bank has said that Bitcoin doesn’t even meet the definition of an electronic payment method. Speaking to Bloomberg, Paeivi Heikkinen, head of oversight at the Bank of Finland in [...]
Why China’s slowing growth isn’t too much of a worry January 20, 2014 Chinese economic growth is slowing, but numbers last night weren’t quite as disappointing as anticipated and still point to steady growth. Fourth quarter GDP slowed from 7.8 per cent to 7.7. per cent – the lowest it's been for 14 years, but above market forecasts of a fall to 7.6 per cent. Industrial production in [...]
What you need to know before the open – 20/01 January 20, 2014 European bourses are set to open lower this morning after a weak finish to last week and disappointing GDP numbers from China. It's set to be a quiet day when it comes to economic data, too: Morning all. #FTSE called flat to small off today. US Holiday so could be a quiet one. — [...]
Why luxury means more than one thing in China January 16, 2014 China's wealthy have been buoying luxury brands for years, with high-end Western retailers like Louis Vuitton, Gucci and Burberry touting their wares across the upmarket shopping districts of Shanghai and Beijing. But China's just seen the steepest cut-back on spending in at least five years, according to a survey by the Hurun Report – [...]
Burberry shares lift the FTSE as luxury sales beat forecasts January 15, 2014 BURBERRY was the second highest riser on the FTSE yesterday after the luxury retailer revealed better-than-expected sales, driven by Asia Pacific and demand ahead of Chinese New Year. Shares closed 4.7 per cent higher as the 158 year-old firm posted a 14 per cent rise in sales to £528m and a 12 per cent increase [...]
Huawei expects 40pc jump in operating profit January 15, 2014 CHINA’S Huawei Technologies, the world’s second-largest telecommunication equipment maker, yesterday said revenue is likely to have risen last year by around eight per cent, less than its original target of 10 per cent. Huawei, which ranks behind Sweden’s Ericsson in telecom equipment sales, said unaudited global revenue reached around 238bn yuan to 240bn yuan (£24.16bn) [...]