What a difference a day makes: Markets go into full reversal mode as recession concerns grow Recession concerns growing fast What a difference a day makes? Having rallied strongly in the aftermath of the Federal Reserve’s decision to hike rates by 50bps on Wednesday evening, and not go harder, US stock markets went into full reversal mode yesterday, dragging European markets down with them. Bond yields also shot back up, with the US 10 year [...]
Poor start of the month for global markets: April weakness rolls into May with China lockdowns not helping disappointing start of May Asia markets got off to a poor start to the month yesterday, as did markets in Europe after the latest China PMIs showed that economic activity in April fell back by more than expected. Much was made of the slowdown in China manufacturing to 47.4 from 49.5, however non-manufacturing saw an even bigger fall, plunging [...]
UK markets: ‘Penny is dropping’ there will be no immediate ceasefire in Ukraine while focus shifts to Sunak’s ‘double whammy’ Markets this a.m. European markets underwent a subdued start to the week yesterday, with the FTSE100 outperforming on the back of another day of advances for crude oil prices, pushing the index to close at its highest level since 28 February. “The main reason for the move higher in oil prices was reports that the EU was considering [...]
Europe set to open higher as Bank of Japan keeps policy unchanged March 18, 2022 European and US stocks have continued to recover lost ground this week, despite there being little prospect of a ceasefire, or imminent cessation of hostilities, between Russia and Ukraine. “We did falter a little bit during the European trading session after the Kremlin poured cold water on reports of major progress on peace talks, calling [...]
Shares nosedive across Europe as burning Ukrainian nuclear plant terrifies traders: FTSE lowest since October March 4, 2022 All major markets across Europe are reacting this morning with horror to the fire at Europe’s largest nuclear power plant amid shelling by Russia in the area. Although the situation is reportedly under control, stock indexes were down across the continent, with London’s top index, the FTSE 100, dropping to its lowest point since October [...]
Uncertain week ahead: Nervous markets hold their breath as Ukraine-Russia tensions reach boiling point February 14, 2022 Despite Friday’s weakness European markets still managed to finish the week higher, with the FTSE100 finishing higher for the second week in a row. For US markets it was a week of two halves, with a decent first half undermined by two days of sharp losses, which were prompted by an unexpectedly hot January CPI [...]
UK overhauls development investment body to challenge influence of Chinese loans November 25, 2021 Foreign secretary Liz Truss has revamped the UK’s development investment arm in a bid to offer emerging economies an alternative source of private capital to Chinese loans that can counter Beijing’s influence and avoid “bad and unsustainable debt.” Truss launched British International Investment (BII) this morning at the London Stock Exchange, a body that will [...]
Wall Street opens lower while FTSE plunges to snap June winning streak June 3, 2021 Wall Street’s main indexes opened lower today as investors weighed up data showing a pick up in jobs growth for cues on the trajectory of inflation. The Dow Jones Industrial Average fell 0.7 per cent at the open, while the Nasdaq Composite shed 1.3 per cent. Meanwhile, the S&P 500 dropped 0.8 per cent to [...]
Standard Chartered profit soars to $1.4bn as Covid19 provisions to cover bad loans go unused April 29, 2021 Standard Chartered this morning posted a higher- than-expected 18 per cent jump in quarterly pre-tax profit, as the Asia-focused bank began recovering from the economic hit caused by the Covid19 pandemic. Pre-tax profit for the three months to 31 March was $1.4bn, up from $1.2bn a year earlier, and well ahead of the $1.08bn analysts had [...]
Investor Central: Funds to keep an eye on in 2021 January 4, 2021 Following an unpredictable 12 months, investors are turning their attention to opportunities in 2021. Square Mile-based Tom Stevenson, investment director for personal investing at Fidelity International, shared with City A.M. what his fund picks are for 2021. “None of us possesses a crystal ball. However, as I put my picks together at the end of 2020, investors [...]