Three Abu Dhabi banks denied they were in merger talks on Sunday, sending their share prices lower as investor hopes of a shake-up in the banking sector were dashed. Abu Dhabi Commercial Bank (ADCB), Union National Bank (UNB) and Abu Dhabi Islamic Bank in separate statements to the bourse each denied they were involved in merger plans. Shares in the lenders had been suspended earlier on Sunday […]
TOKYO Asian shares were on the defensive on Monday, undermined by fears that the strength in the U.S. dollar and rising U.S. bond yields since Donald Trump’s election to president could accelerate fund outflows from emerging markets. MSCI’s broadest dollar-based index of Asia-Pacific shares outside Japan .MIAPJ0000PUS dipped 0.1 percent, staying near four-month lows. In local currency terms, many markets are up slightly. Japan’s Nikkei .N225 rose […]
The Malaysian central bank’s moves to curb what it describes as “speculative and damaging” offshore trading in the ringgit are causing disquiet among investors and raising concerns about the regulator’s handling of the markets. Bank Negara Malaysia has asked foreign banks to commit to stop trading the ringgit — Asia’s worst-performing currency against the US dollar in 2015 — in the offshore non-deliverable forwards market. Malaysian debt […]
Here are the questions being asked at FT markets as a new trading week begins after the pronounced swings in equities, bonds and currencies that followed Donald Trump’s election victory in the US. Are the dollar bulls running too fast? When currencies start motoring, forget speed limits. The dollar has accelerated markedly since election day. Pressure on emerging markets is rising, while the euro slid through $1.06 […]
The global bond market rout triggered by Donald Trump’s US election victory looks overdone, according to bond investors now betting that the sell-off was too violent and that borrowing costs will remain contained into the start of the new year. Mr Trump is expected to unveil a large, inflation-fuelling economic stimulus package of infrastructure spending and tax cuts, which has stoked fears of an end to the […]
Our round-up of the week’s best comment and analysis from the Financial Times focuses on how Donald Trump’s election produced an abrupt change of mood in the markets and examines which assets will now benefit. The selection is taken from our Markets Insight and Smart Money columns, written by industry contributors and FT commentators. Was there a financial markets equivalent of the “shy” Trump supporter to explain […]
Source: politico.com It has been almost two weeks since Donald Trump has been voted into the White House and the mass media is finally getting their heads around his victory. Most analysts (well, actually all of them) predicted a victory for Trump would be excellent for the precious metals prices, but even though the gold price increased to almost $1350 when the votes were being counted, we […]
By David Henry | NEW YORK NEW YORK JPMorgan Chase & Co is once again facing questions about who will succeed its larger-than-life chief executive after Jamie Dimon was courted by the incoming U.S. president for the role of Treasury secretary. Dimon, 60, has been running the largest U.S. bank for more than a decade and has faced questions about his longevity in the role before: when […]
A protest rally in Malaysia against the government of Najib Razak — who is fighting allegations of grand corruption linked to a troubled state investment fund — brought thousands onto the streets of Kuala Lumpur but also spurred a widening official crackdown. Although Saturday’s rally passed off peacefully, 15 activists and opposition politicians have been arrested on charges which human rights campaigners described as “manufactured”. The charges […]
Photo Andre Ward, left, improved to 31-0 and dealt Sergey Kovalev his first defeat in 32 fights as a professional. Credit Al Bello/Getty Images LAS VEGAS — A few days before Andre Ward and Sergey Kovalev stepped into a boxing ring here to battle it out for light heavyweight supremacy, Kovalev’s promoter said that this would be the super fight that everyone wanted between Floyd Mayweather Jr. […]
By Tetsushi Kajimoto and Cynthia Kim | TOKYO/SEOUL TOKYO/SEOUL Asian currency policymakers are worried that the strengthening of the dollar on expectations of U.S. President-elect Donald Trump’s fiscal policies could be used by his administration as a stick to beat them with on trade protectionist grounds. China, Japan, South Korea and Taiwan are already on the U.S. Treasury’s monitoring list, along with Germany and Switzerland, having met […]
|By Arabian Post Staff| Dubai residential prices further slipped by 2.6 percent during the third quarter, taking the average residential values down 7.4% during the past twelve months, reports real estate consultants Cluttons. The rate of decline is, however, expected to slow heading into 2017 before reaching a new base towards the end of next year, it forecasts. Cluttons’ Dubai Winter 2016/2017 Property Market Outlook report highlights that values slipped […]
By Samuel Shen and John Ruwitch | SHANGHAI SHANGHAI Scores of Hong Kong-listed companies – many small – are on a roadshow blitz in China to whet the appetite of mainland investors ahead of the launch of a cross-border investment link between Shenzhen and Hong Kong. Mainland investors are enthusiastic, viewing the cross-border channel as a way to buy relatively cheap growth companies and hedge against a […]
China’s domestic stock markets look set to be denied entry into international benchmarks for the fourth year in a row next year unless Chinese regulators remove “major obstacles” before June. Dimitris Melas, head of equity research at MSCI, provider of the benchmark MSCI Emerging Markets index, gave a downbeat assessment on Thursday of the prospects for China’s A-shares to be included in the index next year in […]
Facebook unveiled a share buyback scheme on Friday, saying it would repurchase up to $6bn of its stock as its investors brace themselves for slower growth next year. In a regulatory filing, Facebook said that the board had approved the buyback on Friday. It will begin in the first quarter of 2017 but the scheme has no set expiration, leaving Facebook the flexibility to be opportunistic if […]
From Fortress Capital: Let’s face it – investing is difficult! Gone are the days of saving for retirement. The average savings account in the USA pays less than 1%. Fortunately for most investors the stock market has been going up and up, but it’s going to correct (it always does). But it hasn’t been a good ride for all investors. Many retirees now living off their retirements are […]
By Lewis Krauskopf | NEW YORK NEW YORK Arguing over politics is a Thanksgiving Day tradition, but Donald Trump’s presidential election adds a new twist to any bickering at next week’s holiday dinner table: What the new U.S. government could mean for your stock portfolio. Trump’s shock victory last Tuesday sent investors scrambling to change bets predicated on a win by Hillary Clinton, leading to huge stock […]
The Trump trade — sell government bonds because his policies might cause inflation and require huge new borrowing — has already produced a common counter reaction: do not get carried away, this is an opportunity to buy Treasuries before yields collapse again. What it shows is a conditioned response. The first time your dog barks in the night, you leap out of bed with a head full […]
China has weakened the renminbi’s trading band for a record 11th straight day, taking its currency to an eight-year low as expectations of US interest rate rises buoyed the dollar against the region’s currencies. This puts the renminbi within a hair’s breadth of suffering a 10 per cent decline versus the dollar since the People’s Bank of China caught markets by surprise with its one-off devaluation in […]
Social media giant Facebook Inc (FB.O) on Friday set a $6 billion buyback program for its Class A shares, beginning in the first quarter of 2017. Facebook’s shares were up 1.1 percent at $118.24 in after-hours trading. The company had a market value of about $337 billion at close. The company also said Chief Accounting Officer Jas Athwal had resigned, effective Feb. 17. (bit.ly/2fcxJoA) (bit.ly/2fE2wvw) Athwal has […]
Friday 17:00 GMT. Wall Street slipped as the dollar climbed to a new 13-year high and US government bond yields hit multi-month peaks on Friday on expectations that president-elect Donald Trump’s policies will boost the economy and deliver tighter monetary policy. After a mixed Asia-Pacific session, which included Japanese equities entering a bull market, the pan-European Stoxx 600 slide 0.3 per cent. Investors have been eyeing the […]
By EconMatters We delve into the recent 10-Day move in the US Dollar Index, and look at the major currency pairs in this video. The Oil and commodity related currencies may outperform against the US Dollar next week on optimism regarding an OPEC deal getting done. Expect a largely range bound market in an overall light holiday trading week. © EconMatters All Rights Reserved | Facebook | […]
U.S. stocks looked set to open little changed on Friday, with all three major indexes near record highs, a day after Federal Reserve Chair Janet Yellen sent a strong signal that interest rates would be increased next month. The Fed could raise rates “relatively soon”, Yellen said in a congressional testimony on Thursday, adding that she would serve out her term. Traders are pricing in an 83 […]
Friday 06:00 GMT. The US dollar continues to push higher and sovereign bonds remain under pressure, while major equities benchmarks are on track to finish the week on a positive note. European bourses are expected to open firmer, with spreadbetters predicting the UK’s FTSE 100 will add 5 points to 6,800 and Germany’s Dax to gain 30 points to 10,716. US index futures suggest the S&P 500 […]
