Look ahead to Federal Reserve minutes for clues of QE taper timing August 21, 2013 Ishaq Siddiqi, market strategist, ETX Capital: Taper blues continue to curb enthusiasm to build risk across equity, commodity and forex markets Wednesday. US Treasury 10-year note still elevated at 2.82% but off two-year highs seen this week. FOMC meeting minutes to steal the show later with many in the market viewing the report as a [...]
Emerging markets suffer on worries over Federal Reserve tapering August 20, 2013 JITTERY investors sent markets into a spiral yesterday on fears the US Federal Reserve could announce plans to slow down the pace of money printing as soon as tonight. India led the emerging markets down as stocks plummeted and the rupee hit record lows. Brazil’s markets dropped fast enough to put fundraising bids on ice, [...]
Bottom Line: Mining shares set for rollercoaster ride August 20, 2013 AS EVER, mining stocks yesterday gave a pretty clear picture of how investors were feeling. But this time – in addition to the ever-present spectre of Fed uncertainty and slowdown in Chinese material demands – there were more tangible reasons for their concern. BHP Billiton and Glencore Xstrata fell 1.7 per cent and 1.6 per cent [...]
Index of US economic activity negative for fifth month August 20, 2013 Optimism for the US economy has improved slightly, as the Chicago Fed national activity index moved from -0.23 to -0.15 in July. That's the fifth consecutively negative read for the index. Last month's figure was better on release, now revised from -0.13 to -0.23, and analysts had been hoping for an improvement to -0.10.
Before the open – 20/08 August 20, 2013 The UK's leading FTSE index is expected to open lower this morning as US equities see their first four day losing streak of 2013. The losses saw Asian markets down overnight with the Nikkei closing down 2.63 per cent. ETX Capital #morningcall: FTSE100 down 33 points, the DAX lower by 37 points and the CAC40 [...]
Fed taper looms over emerging market disorder August 19, 2013 EMERGING markets took another hit yesterday, with fears that this week’s minutes from the Federal Reserve will hint at the beginning of a reduction in the country’s quantitative easing programme. India’s rupee plummeted to an historical low of 62.73 to the dollar, and the country’s stock exchange fell by 1.69 per cent. Indian ten-year bond [...]
Banks told to assess capital August 19, 2013 THE US Federal Reserve yesterday said bank holding companies needed to up their game on capital holdings to ward off unexpected market risks. The Fed, which made the recommendation in a policy paper, said banks should plan their capital requirements above targets they set internally “to withstand stressful economic and financial conditions”. It added that [...]
Ex-Diageo boss Walsh joins United Spirits August 19, 2013 FORMER Diageo chief executive Paul Walsh is joining the board of Indian drinks group United Spirits, six weeks after Diageo became a major shareholder in the firm. Walsh, who stepped down from the top job at London-listed Diageo in July after 13 years, was yesterday appointed to the board of United with immediate effect. Diageo [...]
London Report: Fall in copper price hits mining stocks August 19, 2013 ADROP in major mining stocks pushed Britain’s benchmark share index lower yesterday, while persistent concerns about an expected reduction in US monetary stimulus also weighed on the market. The blue-chip FTSE 100 index closed down 0.5 per cent, or 34.26 points, at 6,465.73 points, continuing a pull-back that saw it dip 1.3 per cent last [...]
CNBC Comment: Why it could now be time to buy gold August 19, 2013 GOLD kicked off 2013 trading just below $1,700 per troy ounce, only to see central banks and investors push its market value down to around $1,180 in late June. Since then, it has steadily risen in value, putting on its best performance in months last week, when it broke through the psychologically important $1,350 level. [...]