Rising sun set to shine again September 28, 2011 THERE is a strong argument that Japanese equities are undervalued. Although the macro situation remains bleak, this doesn’t preclude companies from turning a profit – particularly on the back of Chinese demand. A GOOD DEAL Ben Seager Scott of Bestinvest says “Japan is looking like a fairly attractive investment opportunity at the moment, with cheap [...]
Strong dollar should be seen as a warning September 27, 2011 THOUGH yesterday saw a broad market rally, it was a tiny chink of light in an otherwise dark tunnel for the economy. The ongoing Eurozone debt crisis and the seeming inability of anybody involved to take hold of the situation with a credible plan for managing the fallout of an inevitable Greek default has driven [...]
A whirlwind weekend in Hong Kong September 25, 2011 Hong Kong is epic. Everything about the city is exaggerated. The skyline. The escalators. The humidity. Once a busy trading port, it still thrives on exchange, be it financial bonds or dried fish. Being an island, Hong Kong has to work harder than other cities because it can’t reach out into the suburbs for a [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 22, 2011 FINANCIAL TIMES EU TO SPEED RECAPITALISATION OF 16 BANKS European officials look set to speed up plans to recapitalise the 16 banks that came close to failing last summer’s pan-EU stress tests as part of a co-ordinated effort to reassure the markets about the strength of the 27-nation bloc’s banking sector. A senior French official [...]
Monaco’s calling September 22, 2011 TIMES are tough for property in some parts of the world. Not, however, in Monaco, where investors seeking classic, mature markets feel comfortable. The fact that it’s still one of the most glamorous locations on earth – with some of the world’s best restaurants and casinos (and let’s not forget the marina) – doesn’t hurt, [...]
M&C Saatchi profits surge by a quarter September 21, 2011 ADVERTISING icon M&C Saatchi yesterday hit a 17 month share price high after announcing a surge in first-half profits. The firm saw its pre-tax profit jump almost a quarter to hit £7.7m, with revenues rising 23 per cent to £71.9m. A strong performance in its core UK business, which accounts for 43 per cent of its [...]
Funding pressure as China pulls out of Eurozone forex September 20, 2011 MONEY market strains worsened yesterday after Standard & Poor’s cut Italy’s credit rating and the Bank of China halted foreign exchange swaps with several European banks. Eurozone bank borrowing at the European Central Bank’s weekly tender surged to €201bn, the highest in seven months in a sign of growing stress in the sector. Three-month dollar [...]
RALLIES TURN TO DECLINES AHEAD OF FED September 19, 2011 GLOBAL equity markets rallied sharply last week. The initial catalyst came from rumours that China stood ready to purchase Italian debt. Then stocks shrugged off worries about the credit-worthiness of the largest French banks, after German Chancellor Merkel and French President Sarkozy insisted that Greece will remain a member of the Eurozone. Greek Prime Minister [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 16, 2011 FINANCIAL TIMES BTG PACTUAL LOOKS AT IPO AS IT EYES EXPANSION BTG Pactual, Brazil’s largest independent investment bank, is looking to hold an initial public offering as early as next year as one option to fund an ambitious expansion in Latin America. The move comes as the bank is also strengthening its foothold in Asia [...]
China lies at the heart of euro survival September 14, 2011 THE effects of speculation that China would be buying up Italian sovereign debt displayed just how much sway the Chinese government holds over the world currency markets. China has been accumulating foreign currency reserves at a rapid rate – its forex reserves increased by $750bn between June 2010 and June 2011. It is reported that [...]