FTSE 100 live: London markets to open higher as low valuations drive momentum; Eyes on US inflation data
Markets taken aback by China’s move to devalue the renmibi to boost flagging economic growth August 11, 2015 Markets were taken aback by China’s move to devalue the renmibi nearly two per cent against the US dollar, to boost China’s flagging economic growth. Following weak trade and inflation data, central bank People’s Bank of China fixed its currency down 1.9 per cent, in a move which caused the Chinese currency’s biggest one-day drop [...]
FTSE finishes up after China data boosts miners – London Report August 11, 2015 MAJOR mining stocks experienced a sharp reversal yesterday, turning higher on hopes of stimulus after weak data in China, which led the UK’s top share index to recoup early losses. The blue-chip FTSE 100 index was up 17.73 points, or 0.3 per cent, at 6,736.22 points by the close, turning higher after gains in early [...]
Is China fragile? It could well surprise us – CNBC Comment August 4, 2015 WITH earnings season in full swing, China remains the buzzword – but for all the wrong reasons. As analysts who have questioned the strength of the world’s second-largest economy start to look a lot less like Cassandras, the question remains: when will the Asian powerhouse stabilise? Short answer: it’s tough to tell at this stage. [...]
Commodities in freefall as China faces slowdown August 4, 2015 Mining stocks were dealt a body blow yesterday, with one index dropping to a 13-year low, as Chinese manufacturing PMI data dragged the commodities market down yet again. The data, which came out yesterday morning, showed that the downturn in China’s manufacturing sector intensified at the start of the third quarter. Production was cut at [...]
China stocks suffer biggest one-day drop since the financial crisis July 29, 2015 There was more pain for investors in Chinese equities overnight after the stock market suffered its biggest one-day fall since February 2007. China's main Shanghai Composite Index shed 8.5 percent, to 3,725.56 points, while the CSI300 index of the largest listed companies in Shanghai and Shenzhen plunged 8.6 percent, to 3,818.73 points. Read more: Are Chinese equity markets a bubble [...]
FTSE 100 erases gains for 2015 amid China stock market meltdown July 29, 2015 Britain's blue chip index erased its gains for the year, falling 1.2 per cent to 6,500.54 points this afternoon. The FTSE 100 had closed at 6,556.10 at the end of 2014, although it rose as high as 7,100 in April. The index started the day flat – shrugging off falls in the share prices of companies such [...]
China runs down currency reserves as economy cools July 27, 2015 Capital is flooding out of China’s economy as it continues to cool. Analysts at Goldman Sachs have estimated capital outflows reached $224bn (£144bn) in the second quarter. The Chinese central bank is also reportedly running down its foreign currency reserves to keep the renminbi stable. “As it stands reserves are being liquidated to support the [...]
With Greece, China and rate rises heightening fears, will this be a bad summer for investors? July 23, 2015 Laith Khalaf, senior analyst at Hargreaves Lansdown, says Yes It has been a pretty bad summer for the stock market so far – and we would have to have a belter of a month in August for the FTSE to claw its way back to the 7,000 mark. I do not see the macro worries [...]
The end of China’s migrant miracle could see global asset prices plunge July 22, 2015 China’s meteoric economic transformation has brought billions of workers out of poverty and into the global labour market. But recent discussion has raised the possibility that China’s “migrant miracle” (fuelled by the influx of people from the countryside to work in the cities) could now be over as the so-called “Lewis point” is reached – [...]
China’s unravelling: Will it devalue the yuan next? July 16, 2015 China could be gearing up to join the global currency wars by devaluing the renminbi. So far this year more than 30 central banks from all over the world, including South Korea and Australia, Canada and Hungary have cut interest rates – which works to weaken their currency. Since the global financial crisis, central [...]