News Corp to buy in China May 14, 2012 NEWS Corp said yesterday it has agreed to buy a 19.9 per cent stake in Bona Film Group, a Chinese film production and distribution company. The financials of the deal were not disclosed, although a market cap of $363m (£225.5m) points at a price under $70m. Murdoch’s conglomerate will acquire the stake directly from Bona’s [...]
France surrenders its austerity plans May 14, 2012 THE French markets took a tumble yesterday on fears of a Greek exit from the Eurozone – the Paris Bourse index, the Cac 40, was already looking vulnerable with the fears that socialist President Francois Hollande would scratch the country’s signature from the European fiscal compact and abandon France’s attempts to take a grip of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 13, 2012 FINANCIAL TIMES Canary Wharf claims high ground on City Canary Wharf will finally come of age over the next two months when the UK’s “new” financial centre overtakes the traditional City of London as the biggest employer of bankers in Europe. According to Financial Times research, the transfer of 8,000 jobs by US bank JPMorgan [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 9, 2012 FINANCIAL TIMES CRH to build on stake in China CRH blamed bad weather in Europe in the first quarter and volatility caused by the Eurozone debt crisis for reduced earnings in the first four months of the year in spite of a stronger recovery in the US market than expected. The Irish building materials group said [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 7, 2012 FINANCIAL TIMES Chinese groups drive rise in pre-sold HK IPOs Zhengzhou Coal Mining Machinery has enlisted nearly a dozen banks to hunt down investors willing to take stakes in the Chinese business ahead of its $1bn Hong Kong listing, an example of a trend gripping the world’s biggest market for new listings. Hopes rise UK [...]
Investors queue up to hear from Zuckerberg ahead of Facebook IPO May 7, 2012 FACEBOOK kicked off a road-show to promote its $10bn (£6.17bn) float yesterday. Chief executive Mark Zuckerberg fielded questions about the social network’s slowing revenue growth and defended its $1bn purchase of Instagram, telling attendees he would do the deal again if he had to. Hundreds of investors had formed a line outside New York’s Sheraton [...]
The Hindenburg Omen isn’t a hit May 7, 2012 NAMES for technical indicators don’t get much more dramatic than the Hindenburg Omen – simultaneously referencing the German airship tragedy of 1937 in which 36 people lost their lives and bringing to mind haunting visions of the psychotic Damien from the infamous horror film, the Omen. Chris Beauchamp, market analyst at IG Markets, believes a [...]
Why the gold to silver ratio counts May 7, 2012 SIMPLY put, the gold-silver ratio represents the number of ounces of silver that it takes to buy one ounce of gold. The gold-silver ratio has the advantage of stripping out the dollar denominational aspect of taking a straight position on gold or silver. When you take a spread bet on the silver or gold spot [...]
EURO BEARS STILL DOMINATE AS CONTAGION RISKS SPREAD May 7, 2012 CHIEF MARKET STRATEGIST The past week was very much a case of “wait and see,” given the US non-farm payrolls data and a slew of economic figures from around the world. In general, the picture was mixed, with stronger figures from the US and China for their manufacturing sectors, but Eurozone and UK data still [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 3, 2012 FINANCIAL TIMES Banks look to farm out SME lending Several large European banks are weighing the idea of outsourcing a portion of their core small business lending to a new crop of loan funds, in a further sign of the growth of the “shadow banking” industry in Europe. A number of banks including UBS and [...]