Greenback suffers as buyers back yen
By Financial Times on July 2, 2010
The yen is at its highest level against the dollar so far this year as worries about the health of the global economy boost haven demand for the Japanese currency Read the full story on the Financial Times
Posted in Markets |
US stocks fall on poor economic data
By Financial Times on July 2, 2010
Disappointing economic data that fuelled concerns about the strength of the economic recovery sent US stocks lower, but some ground was recovered in the last second half of the trading day Read the full story on the Financial Times
Posted in Markets |
Eurozone banks fall on solvency concerns
By Financial Times on July 2, 2010
Financial stocks lead the region’s losses after small group of banks demands more than €100bn in short-term funding Read the full story on the Financial Times
Posted in Markets |
Agricultural Bank attracts $50bn in Hong Kong bids
By Financial Times on July 2, 2010
The high level of institutional demand means that Agricultural Bank remains on track to raise as much as $23bn in what could be the world’s biggest initial public offering Read the full story on the Financial Times
Posted in Markets |
China plans route back for offshore funds
By Financial Times on July 2, 2010
Beijing plans to allow investors to channel deposits in the currency held offshore back into capital markets on the mainland, opening a new route for investors through the country’s strict capital controls Read the full story on the Financial Times
Posted in Markets |
Strong demand for Spanish bond auction
By Financial Times on July 2, 2010
Madrid sells €3.5bn of 5-year bonds, the top of the desired range, just a day after Moody’s, the rating agency, threatened to downgrade the country’s debt Read the full story on the Financial Times
Posted in Markets |
Bargain-hunters emerge ahead of US jobs data
By Financial Times on July 2, 2010
Global Markets Overview: Timid ‘bargain hunting’ of riskier assets is under way as traders await important US jobs data and assess a slew of recent data that suggest recovery is faltering Read the full story on the Financial Times
Posted in Markets |
Asian shares rise ahead of US jobs data
By Financial Times on July 2, 2010
Stocks snap out of a three-day losing streak and the euro holds near five-week highs against the dollar, but investors remain nervous amid concerns over the global outlook Read the full story on the Financial Times
Posted in Markets |
Duet of star traders to head new fund
By Financial Times on July 2, 2010
Duet Asset Management, the London-based alternative asset manager, is raising money for a new hedge fund to be headed by two of the world’s most senior commodities traders Read the full story on the Financial Times
Posted in Markets |
Hong Kong shares lower, wider Asia trades mixed
By MarketWatch on July 2, 2010
HONG KONG (MarketWatch) — Hong Kong stocks pared back morning losses in the afternoon session Friday, though the general tone remained downbeat after Aluminum Corp. of China, or Chalco, announced an aluminum price-cut and the shelving of an Australian mine project, while reports that Bank of China Ltd. will seek to raise up to 60 [...]
Posted in Markets |
European shares higher ahead of payrolls
By MarketWatch on July 2, 2010
LONDON (MarketWatch) — European shares traded higher on Friday, paring some sharp losses seen in the previous session, with miners gaining after Australia amended the terms of its proposed mining tax. BHP Billiton shares were up 1.5% and Xstrata shares rose 2.7%. The gains came ahead of key U.S. nonfarm jobs data, due in the [...]
Posted in Markets |
Amlin raised to buy from hold at Citigroup
By MarketWatch on July 2, 2010
FRANKFURT (MarketWatch) — Insurance group Amlin PLC was upgraded Friday to buy from hold at Citigroup. While the share price of the company has had a relatively strong performance relative to the broader market, it fails to capture the strategic progress and continued value creation at Amlin, the broker said. Read the full story on [...]
Posted in Markets |
Morgan Stanley ups Deutsche Boerse to overweight
By MarketWatch on July 2, 2010
FRANKFURT (MarketWatch) — Deutsche Boerse AG was upgraded Friday to overweight from equal-weight at Morgan Stanley. The upgrade reflects improving top-line dynamics and the expectation that continued volatility will support derivative volumes, the broker said. Furthermore, the gradual improvement in hedge-fund assets and in usage by new-user groups continues to provide support, Morgan Stanley said. [...]
Posted in Markets |
Nestle cut to equal-weight at Morgan Stanley
By MarketWatch on July 2, 2010
FRANKFURT (MarketWatch) — Food producer Nestle SA was downgraded Friday to equal-weight from overweight at Morgan Stanley, which said that further earnings upgrades were unlikely. “Nestle remains the ‘gold standard’ in terms of operating performance among peers and we still recommend holding the shares for its resilient top-line growth, continued margin improvement, earnings growth and [...]
Posted in Markets |
Lagardere to launch Canal + France IPO
By MarketWatch on July 2, 2010
LONDON (MarketWatch) — French media group Lagardere said Friday that it intends to launch an initial public offering process for Canal+ France. The firm said that it will proceed with the IPO as it hasn’t reached an agreement with Vivendi over selling Lagardere’s stake in Canal+ France. Read the full story on MarketWatch
Posted in Markets |
Travis Perkins sees result ahead of forecasts
By MarketWatch on July 2, 2010
LONDON (MarketWatch) — Building materials supply firm Travis Perkins said Friday that it now expects to report first-half results ahead of management expectations. Revenue for the six months to June 30 rose 4.7% with comparable sales up 3.4%. “Given our pleasing trading performance in the first half we now anticipate recommencing the payment of dividends,” [...]
Posted in Markets |
Chloride Group accepts Emerson bid
By MarketWatch on July 2, 2010
LONDON (MarketWatch) — U.K. power firm Chloride Group said Friday that it will accept an offer from Emerson Electric of 375 pence in cash for each Chloride share. The board of Chloride said that it has withdrawn its recommendation of ABB’s 325 pence per share offer. Emerson lifted its offer earlier in the week and [...]
Posted in Markets |
InterContinental Hotels Group sells Atlanta hotel
By MarketWatch on July 2, 2010
LONDON (MarketWatch) — InterContinental Hotels Group said Friday that it has sold the 422-room InterContinental Buckhead Atlanta hotel to Pebblebrook Hotel Trust for $105 million in cash. InterContinental Hotels will continue to manage the hotel under a long term management contract. Read the full story on MarketWatch
Posted in Markets |
Bank of China reportedly to raise additional funds
By MarketWatch on July 2, 2010
HONG KONG (MarketWatch) — Bank of China is seeking to raise funds through a potential share sale in Hong Kong and Shanghai, though it hasn’t decided how much it wants to raise or whether it favors a rights issue or the sale of new shares, according to reports Friday. The fund raising plans come after [...]
Posted in Markets |
China’s Xinhua starts 24-hour English TV news
By MarketWatch on July 1, 2010
HONG KONG (MarketWatch) — China will begin broadcasting a new English-language 24-hour television news service throughout Asia this week and make it available around the world next month, marking the global television debut for the state-backed Xinhua news agency, according to reports. The “CNC World” news channel — a rough abbreviation of “China Xinhua News [...]
Posted in Markets |
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