UK stock markets set to suffer sharp losses this week as Fed, tech concerns impact the market
London's major stock indexes fell on Friday and headed for weekly losses as fears over tech valuations, the Federal Reserve's hawkish position, and signs of possible progress towards peace in Ukraine rattled global markets. Defence shares also dropped amid signs that could lead to a breakthrough. The blue-chip FTSE 100 fell 0.4% at 1222 GMT, erasing the short recovery of Thursday, while…
London's FTSE 100 recovers after a four-day decline; inflation data increases rate-cut bets
The FTSE 100 in London was little changed Wednesday after four sessions of falling prices. Gains in consumer staples and healthcare kept the market afloat while a slower inflation rate raised hopes for a rate cut in December. As of 12:40 GMT the blue-chip index had fallen 0.07%, while the midcap FTSE 250 was up 0.07%. The UK's inflation rate slowed for the first month since May. This…
Australian shares are on the rise as sectoral strength offsets the banking slump
Australian shares traded within a narrow range Wednesday as investors held back their risk appetite due to waning expectations for additional monetary policy ease. S&P/ASX 200 index remained at 8,474.50 as of 2320 GMT but is still down about 7% from its all-time high reached on October 21. The benchmark index ended Tuesday at a low of five months. Since the Reserve Bank of Australia held interest rates constant earlier this month, the main index has been in a downward trend.
As the US shutdown comes to an end, UK's FTSE100 hits a record high.
Investors welcomed signs that the long-running U.S. shutdown may be ending. The blue-chip index ended 0.1% higher and is now within striking distance of 10,000. The FTSE 250 mid-cap index was down by 0.7%. Upgrade the UK's regulated electric networks and expand their renewable business. Metal mining companies gained 1.3% in value as the copper price increased on global commodities markets. Market sentiment improved after growing optimism that the U.S.
FTSE 100 edge higher with HSBC and Melrose boost; miners hold gains in check
London's FTSE 100 index rose for a 2nd consecutive day Tuesday. Shares of Melrose, HSBC and precious metal miners helped to boost the index, but losses among precious metal miners held gains back. HSBC, a heavyweight in the banking industry, rose by 1.8% following its appointment of David Lindberg as CEO of UK operations. Lindberg is a former NatWest executive and seasoned banker. The banks index rose by 1.2% thanks to its shares.
Segro gains after results; FTSE 100 edged higher due to HSBC's boost
Investors awaited the release of the domestic inflation report later this week. The FTSE 100 in London rose for a 2nd consecutive day. HSBC, the heavyweight in banking, rose 2% following its appointment of David Lindberg as CEO for its UK operations. Lindberg is a former NatWest executive and a veteran banker. The banks index rose 1.2% thanks to its shares. Segro's shares rose 2.8% in the third-quarter, making it the best performing stock in the FTSE 100.
Santander combines digital bank with consumer finance unit in Europe
Santander, a Spanish bank, announced on Wednesday that it would merge its digital lender Openbank into its consumer finance division in Europe to streamline its structure and cut costs. Santander announced that the new entity would manage Santander’s consumer finance operations, under the Openbank name, beginning with Germany and other markets following. Openbank and Santander Consumer Finance are part of the global digital consumer banking business.
Australia's renewables drive powers a 'golden rush' of big battery bets
Investors in Australia’s battery energy storage industry are taking advantage of the chaos on the spot markets. They have been emboldened by Australia’s efforts to expand its renewable energy infrastructure. Investors in the sector are now funding projects that do not have a fully-guaranteed long-term revenue. The first two battery projects exposed to the market this year were funded.
Trump's options for easing Russia sanctions are limited in comparison to Europe
Donald Trump, the U.S. president, could lift some sanctions against Russia quickly as a way to reward Moscow for successful peace talks with Ukraine. However only Europe can make the larger steps necessary to ease Russia's cash crisis. Trump has threatened to impose additional sanctions and tariffs against Russia and its oil buyers if there are no signs of progress in the three-and-a-half-year long war in Ukraine.
Private equity deals in Japan are set to reach a record-breaking year.
Private equity funds and advisors predict that take-private deals will reach a new record in Japan this year. They expect the total to surpass the $40.3 billion in 2023. This is because companies are under pressure to increase returns for investors. Private equity was once seen as a threat by Japanese companies, who referred to it as "hagetaka", which means vultures. They are now more open to buying out companies and letting go of their once prized listed status…
The Swiss zero-rate squeeze on banks could lead to a bumpy ride for the borrowers
Analysts say that banks in Switzerland may look for ways to increase the cost of banking services or credit as they are affected by the introduction of zero interest rates. After the Swiss National Bank cut its benchmark interest rate to zero in June, the country's borrowing cost was at the lowest among major economies. It was even lower than the European Central Bank deposit rate of 2.0%.
Most G7 Members Ready to Lower Russian Oil Price Cap Despite US Engagement
Most countries in the Group of Seven nations are prepared to go it alone and lower the G7 price cap on Russian oil even if U.S. President Donald Trump decides to opt out, four sources familiar with the matter said.G7 country leaders are due to meet on June 15-17 in Canada where they will discuss the price cap first agreed in late 2022. The cap was designed to allow Russian oil URL-E to…
Brendan Nelson, chair of the audit committee at HSBC, is named interim group chairman
HSBC Holdings PLC announced on Friday that Brendan Nelson will be the interim group chairman after Mark Tucker retires from his role on September 30, following his retirement. Tucker will also resign as a member of the board on that date. The process of selecting the permanent HSBC Group Chair, led by Ann Godbehere (a senior independent director), is currently underway, the banking giant announced in a press release.
Egypt's EFG Hermes reports Q1 revenue down 34% from previous FX gains
The revenue of Egyptian financial services firm EFG Holding decreased by 34% annually in the first quarter due to a gain in foreign currency in the same period in 2024. The quarter saw revenue fall to 5.6 billion Egyptian Pounds ($112,45 million), and net profit before tax and minority interest fell 34% to 1,2 billion pounds. Egypt devalued in March 2024 its currency from 30 Egyptian pounds to 50 Egyptian Pounds…
US lawmakers block IMF Central Africa Support over Oil Fund Dispute
U.S. legislators have introduced legislation to block International Monetary Fund assistance for certain Central African countries in order to protect billions of dollars oil companies are required by law set aside for environmental restoration. The bill highlights the standoff between foreign investment on one hand and Central African monetary authority on the other, who are trying to tighten capital controls in extractive industries so as to replenish depleted reserves.
US lawmakers block IMF Central Africa Support over Oil Fund Dispute
U.S. legislators have introduced legislation to block the International Monetary Fund's (IMF) assistance for certain Central African countries. This is in order to protect billions of dollars which oil companies are required by law set aside for environmental restoration. The bill highlights the standoff between foreign investment on one hand, and Central African monetary authority…
British stocks plunge in worst day for 2020 as US-China Trade War intensifies
Investors avoided risky assets on Friday after China's retaliatory duties against the United States raised fears of a global economic recession. The blue-chip FTSE 100 reached a three-month-low, down almost 5% – its biggest daily drop since March 2021, when the world markets plummeted due to COVID-19. The midcap index fell 4.4% and closed at a record low of 16 months. Investors rushed to government bonds and sold stocks…
US tech and retail stocks lead the rout following Trump's tariff blow
Apple, Walmart and Nike are among the U.S. megacap tech companies that led to a global meltdown after President Donald Trump announced new tariffs. The fears about a cost spike across many industries were heightened by these new tariffs. The tariffs threaten to disrupt the global trade order and upset businesses. This is a stark contrast to just a few short months ago, when the hopes for business-friendly policies from the Trump administration drove U.S.
US Businesses brace themselves for more pain when Trump imposes reciprocal tariffs
The U.S. president Donald Trump announced on Wednesday a number of reciprocal duties on trading partners, the latest of a long list of duties that have been imposed by him since he returned to the White House in early this year. From April 5, the U.S. is imposing a baseline 10% tariff on all imports into the country and will be increasing duties for several of its largest trading partners. Levies may be especially damaging to U.S.
US businesses prepare for more pain when 'Liberation Day" tariffs loom
Businesses all over the world are eagerly awaiting details about the new tariffs that President Donald Trump has imposed on his trading partners. This is the latest in an extensive series of duties that have been imposed by the U.S. since he returned to the White House at the beginning of this year. Trump is expected to announce the new duties at a ceremony on Wednesday at 4 pm Eastern Time (20:00 GMT), dubbed "Liberation Day".