Eurozone deal fails to breathe new life into markets September 30, 2011 The FTSE 100 opened down today as action to increase the Eurozone’s bailout fund failed to breathe new life into global markets. World stocks fell with European shares set to post their biggest quarterly decline since the collapse of Lehman Brothers three years ago, as investors grappled with a slowdown in global growth and the [...]
Commodities on track for dire quarter September 29, 2011 COMMODITIES, which are on course to close on their worst quarter since 2008 amid concerns over a global slowdown, gained some breathing space yesterday after the German parliament backed plans to expand the Eurozone’s bailout fund. Copper – often seen as a bell-weather for economic growth – as well as other industrial metals have been [...]
FTSE falls on worries of China and copper losing momentum September 29, 2011 BRITAIN’S leading share index fell back yesterday, bucking firmer trends from both US and European equity markets and under pressure from big falls by heavyweight miners on lower copper prices amid concerns over future demand. Traders highlighted some anxiety over growth from major metals consumer China ahead of official September PMI numbers, due out on [...]
Wall Street closes up after rocky day September 29, 2011 US stocks mostly rose in a volatile session yesterday as stronger-than-expected economic data and German approval of a beefed-up Eurozone crisis fund relieved two of the worst fears hanging over the market. But the Nasdaq was knocked lower by a brutal sell-off in US-listed Chinese stocks on news of a probe into accounting practices and [...]
PROPERTY NEWS September 29, 2011 BUYING NOW CHEAPER THAN RENTING Falling house prices and increasing rental demand has made it cheaper to buy than rent in 45 of the 50 largest towns across Britain. The cost of renting is now 13 per cent higher on average than the cost of owning, according to the latest research from property website Zoopla.co.uk. [...]
Losses soar at Ambrian Capital after write-down September 28, 2011 LOSSES at precious metals specialist Ambrian Capital more than doubled after it made a £2.15m goodwill write-down on its broking business. The impairment charge on Ambrian Partners, a corporate finance and research subsidiary, pushed the group to a £1.18m pre-tax loss for the half-year to 30 June, up 156 per cent on the same period [...]
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 [...]