Chinese trade surplus halved as sales growth to EU slows October 13, 2011 DEMAND growth both globally and in domestic Chinese markets declined in September, resulting in a narrowing of China’s trade surplus, official figures revealed yesterday. At $14.5bn (£9.2bn), the surplus stands at less than half the $31.5bn seen in July and is down from $17.8bn in August. Trade did grow, with exports up by 17.1 per [...]
Rio Tinto stock hit despite its bullish update October 13, 2011 ANGLO-AUSTRALIAN miner Rio Tinto brushed off fears of a global economic crisis yesterday, reporting record iron ore sales and a five per cent jump in output for the third quarter – but its London shares still tumbled on fears over the Chinese economy. “We are operating at full capacity, selling all we produce and our [...]
FTSE pegs back on global growth woes October 13, 2011 THE UK’s top share index retreated from a key technical level yesterday, with bank stocks hammered after being hit by a downgrade from credit rating agency Fitch just a week after rival Moody’s. Barclays fell 7.4 per cent, while RBS closed 6.4 per cent lower and Lloyds lost 5.5 per cent. Trade data from China [...]
Miners drag FTSE lower October 13, 2011 Miners led a retreat on the FTSE 100 today as copper prices dropped with global growth worries resurfacing following weaker-than-expected Chinese trade data. China’s trade surplus narrowed in September for a second month in a row as growth of exports and imports both fell below forecasts, reflecting global economic weakness. However in a boost for [...]
Demand for Burberry is still booming October 12, 2011 LUXURY goods group Burberry batted away fears of an economic slowdown in its key Chinese market yesterday as it unveiled forecast-beating results. Revenues for the three months to September hit £463m – above a forecast for £448m by a poll of analysts. Luxury goods stocks have fallen sharply in recent weeks on signs of an [...]
ANALYST VIEWS: CAN BURBERRY MAINTAIN ITS SALES MOMENTUM? October 12, 2011 RICHARD HUNTER HARGREAVES LANSDOWN The company intends to continue its expansion plans, whilst remaining flexible in tapping on the brakes should circumstances dictate. Continuing investment in its business will of course weigh on profit in the medium term, whilst the company could become a victim of its own success given increasingly tough comparatives. Even so, [...]
CHINA IS KEY TO A FURTHER RALLY IN RISK October 11, 2011 AS global markets stabilised last week in the wake of better than expected US employment data, the bulls breathed a sigh of relief that the broad sell-off in risk assets may be finally over. Last week’s better than expected economic data may have quelled concerns that the world is headed for a double dip recession, [...]
A sound pound is nowhere to be found October 11, 2011 ALPARI JAMES HUGHES The pound has come back into focus at the start of the week after last week’s surprise announcement of further asset purchases by the Bank of England. Monday’s fall in sterling was in part due to MPC policymakers suggesting that the extra £75bn of QE announced last week could well be the [...]
Miners peg back FTSE as investors eye Slovak vote October 11, 2011 European shares slid this morning as investors eyed a key vote in Slovakia on whether it will back the Eurozone rescue package. The FTSEurofirst 300 index of top European shares was down 0.6 per cent while London’s blue chip index also edged down as miners opened weakly. Analysts said traders were cautious ahead of the [...]
Chinese shoppers splash out after fashion week October 9, 2011 THE West End was boosted last month by record sales to Chinese shoppers in a wave of spending triggered by London Fashion Week. There was a 59 per cent increase in tax free shopping sales to tourists from the country in September compared with the previous month. The figures from Global Blue, which analyses shopping [...]