What you need to know before the US open March 25, 2014 US markets are expected slightly higher today, although concerns remain when it comes to ongoing geopolitical issues. Indices fell yesterday, although the selloff was concentrated in the Nasdaq. G7 leaders have threatened Russia with further sanctions if Vladimir Putin continues to destabilise Ukraine, following the seizure of Crimea. That said, Russian markets have steadied today, [...]
Russian markets are jumping as fears of sanctions fade March 25, 2014 Russia’s rouble has gained 1.4 per cent against the dollar today – its second-largest gain this year and the most among emerging markets today. That, in the midst of the ongoing Ukraine crisis, and the threat of more sanctions from the West. The currency's now risen 2.7 per cent versus the dollar since its lowest [...]
What the other papers say this morning – 25 March 2014 March 24, 2014 FINANCIAL TIMES Russia braced for £70bn in outflows The Russian government is braced for the country’s capital outflows to soar to $70bn in the first three months of the year as investors seek cover from the fallout of President Vladimir Putin’s Ukrainian land grab. Andrei Klepach, Russia’s deputy economy minister, said capital outflows in the [...]
G7 leaders shun Sochi as last troops leave Crimea March 24, 2014 LEADERS of the world’s biggest democracies cut Russia out of their meetings for the first time in 16 years, in protest at its annexation of Crimea. The G7 nations refused to meet with Russia in Sochi as had previously been planned, instead gathering in The Hague. And the group of major economies threatened to step [...]
London Report: Ukraine strife and China data hit FTSE shares March 24, 2014 BRITAIN’S top share index fell yesterday on concerns about the situation in Ukraine and a slowdown in Chinese growth, while energy providers were hit by worries they may be forced to break up their businesses. The blue-chip FTSE 100 index ended 0.6 per cent lower at 6,520.39 points, falling for nine of the past 12 [...]
New York Report: Technology and biotech stocks drag on market March 24, 2014 US STOCKS fell yesterday, with some of the market’s recent best performers like technology and biotech shares leading the way down. Concerns that the crisis in Ukraine could escalate gave investors a reason to drop some of the market’s biggest trading favourites. The Nasdaq fell below its 50-day moving average earlier, in a sign of [...]
Letters to the Editor – 25/03 – Russia and the City, Savings culture, Best of Twitter March 24, 2014 Russia and the City [Re: The UK is not as dependent on Russian money as you think, yesterday] Some interesting data, but there are also some unanswered questions. What about law firms’ revenue? And even if the money is not held in the UK, how much of it is managed from a UK-based family office? [...]
Why Western weakness stems from a failure to grasp Putin’s motives March 24, 2014 VLADIMIR Putin is having an easy time of it, precisely because the West is so at sea as to who he is and what he is trying to accomplish. The Russian President has painfully exposed our foreign policy elite’s schizophrenic tendencies, veering wildly between hysterical alarmism and useless gestures, both of which make the West [...]
What you need to know before the US open March 24, 2014 US stock futures have crept higher today, on speculation that the continuing weak Chinese data – this time in the form of manufacturing numbers – will prompt the government to introduce further stimulus to help deal with the slowdown. Friday saw the S&P 500 hit an intraday record, though it closed lower. European markets are [...]
What you need to know before the open March 24, 2014 Fears over what’ll be Russia’s next move in Crimea are expected to prompt markets to open lower in Europe. Moreover, weaker Chinese data – the HSBC purchasing managers’ index has fallen to an unexpected eight-month low – is anticipated to affect sentiment. Russian troops have taken control of a Crimean naval base at Feodosia, Ukrainian [...]