China stock market crackdown: Chinese government arrests nearly 200 over ‘illegal rumour-mongering’ August 31, 2015 City figures launched a broadside against China’s government last night, after authorities spent the weekend rounding up nearly 200 people deemed guilty of “illegal rumour-mongering”. Beijing appears to have lost faith in its ability to stem a decline in China’s shares through large-scale purchases. Instead, it has turned on traders, social media users and [...]
FTSE 100 closes higher after tumultuous week August 28, 2015 After a week spent yo-yoing between losses and gains, the FTSE 100 made up all its losses, closing at 6,247.9 points today – 0.9 higher than yesterday's close, and 60 points higher than it finished last week. Global markets were all hit on Monday after weaker than expected manufacturing data prompted fears of an economic [...]
Asian markets continue to rebound, with Shanghai Composite, Nikkei, Hang Seng, ASX 200 up August 28, 2015 A sea of red screens can be seen around Asia as markets continue to rise, including in China, building on positive performance yesterday and a strong finish by markets in the US. The Shanghai Composite rose as much as two per cent in mid-morning trading, gaining on the 5.4 per cent it rose yesterday. Japan's [...]
What economic crisis? UK consumer confidence jumps to 15-year high August 28, 2015 Consumer confidence has jumped back to a 15-year high in the UK, according to a widely-regarded survey published this morning. The positive numbers come on the back of upbeat data from the other side of the pond. American GDP grew at an annual pace of 3.7 per cent in the second quarter, official figures said [...]
China’s greatest crisis since the 1980s promises more dark days ahead August 27, 2015 With more than $5 trillion wiped off global stock markets since 11 August, “Black Monday” this week saw declines of historic proportions, driven by concerns over the Chinese economy. The People’s Bank of China (PBOC) has subsequently cut interest rates and eased lending rules for banks in a much-anticipated move to stem the market [...]
FTSE 100 gains £60bn in one day as investors regain confidence August 27, 2015 It's been a rollercoaster of a week for the FTSE 100. Having lost £72bn on Monday, won half of it back on Tuesday and then suffered losses again on Wednesday, the direction the blue-chip index would head in next seemed far from certain. Read more: Emerging Market stocks and currencies rally on doubts of a [...]
Emerging market stocks and currencies rally on doubts of a US rate rise August 27, 2015 Emerging markets made major gains today after doubts were cast over a US interest rate rise next month. Read more: US stocks rise sharply as investors recover from China panic The MSCI emerging markets index is currently 3.3 per cent higher, having climbed steadily since the start of trading. The rouble has also [...]
US markets rise but FTSE 100 closes lower as China uncertainty continues August 27, 2015 After a tumultuous session of trading yesterday during which traders on both the S&P 500 and the Dow Jones showed optimism until mass selloffs in the the final minutes of trading, both indices opened higher today, with the S&P rising 1.3 per cent per cent in early trading, while the Dow rose 1.8 per cent. [...]
Better start for the FTSE 100 after Asia rally as Shanghai shares soar August 27, 2015 Are things finally calming down on the markets? The FTSE 100 opened almost two per cent higher, taking heart from a rally in Asia, where the Nikkei closed one per cent higher, the Hang Seng closed three per cent higher – and Chinese markets leaped, with the Shanghai Composite gaining more than five per cent [...]
WPP boss Sir Martin Sorrell shrugs off mounting fears over China’s economy August 27, 2015 WPP boss Sir Martin Sorrell yesterday admitted “everyone should be concerned” about the current state of the Chinese economy – but said he remained an “unabashed bull” over the long term. Speaking to City A.M., Sorrell said that although Asia Pacific is the company’s third largest market, WPP would not be changing its strategy [...]