This A.M.: Evergrande concerns take a back seat while German election ends in gridlock September 27, 2021 Despite hitting two-month lows last week, markets in Europe eventually managed to finish higher, on the week, reversing a run of three successive weekly losses. Concerns about contagion effects from Evergrande haven’t gone away, but they appear to have taken a back seat to worries about supply chain blockages, surging energy prices and rising inflationary [...]
FTSE 100 dips as investors mull BoE’s hawkish tilt September 24, 2021 London’s FTSE 100 dipped during afternoon exchanges today driven by investors fearing the Bank of England’s hawkish tilt could be a looming headwind for markets. The capital’s premier index dropped 0.22 per cent to 7,062.47 points heading into the final session of the week. Retail and property stocks led the blue-chip index lower today. The [...]
Twitter adds tipping with Bitcoin after turbulent week for crypto markets September 24, 2021 It was a week in which Bitcoin and other cryptocurrencies once again appeared to be trapped in lockstep with the traditional markets.
Evergrande misses debt payment deadline as fears over firm’s collapse mount September 24, 2021 Evergrande bondholders are yet to receive an interest payment which was due yesterday, indicating the indebted property developer is on the verge of collapse. The firm was scheduled to make a $83.5m by midnight in New York on Thursday, or noon on Friday in Hong Kong. However, two people with direct knowledge of the matter [...]
Chinese authorities warn local governments to brace for Evergrande collapse September 23, 2021 Chinese authorities have told local governments to brace for the ripple effects if heavily indebted property developer Evergrande collapses. According to the Wall Street Journal, local governments in China have been tasked with stemming the damage inflicted on homeowners and preventing civil unrest if Evergrande folds. The property developer was scheduled to make an interest [...]
Bitcoin on road to recovery, but options expiry on Friday looms large September 23, 2021 The cryptocurrency market continues to recover this morning, with Bitcoin (BTC) rising around four per cent in price over the last 24 hours to just below the $44k mark.
FTSE 100 extends rally as investors eye MPC meeting September 23, 2021 London’s FTSE 100 continued its rally today as investors mull whether the Bank of England will follow the US Federal Reserve’s example and signal bond buying will taper this year. The capital’s premier index added 0.50 per cent to reach 7,119.04 points during the first hour of trading. The blue-chip index has recovered from heavy [...]
Markets today: Fed tilts towards a taper, Bank of England up next September 23, 2021 European markets underwent another strong session yesterday, as concerns about Evergrande diminished further, while markets in the US shook off their early week malaise by finishing close to the highs of the day in the wake of last night’s Fed meeting, which despite what looked like a fairly neutral statement, saw the central bank outline [...]
Debt payment by Evergrande eases market jitters over messy default September 22, 2021 Evergrande said today it will make a payment due on a domestic bond, easing jitters over a messy default, for a little while at least. Watch the full report.
Bitcoin briefly dips below $40k, but could positive Evergrande news spark recovery? September 22, 2021 The price of Bitcoin fell below $40,000 in the early hours of this morning for the first time in six weeks.