An event-packed week for global markets got underway on Monday with stocks steady and the dollar recovering from a three-day fall as investors braced for a potential interest rate hike in the United States, a Dutch election and the first G20 finance ministers’ meeting of the Trump era. Strong U. S. employment data and talk … Read more
Unilever, whose brands include Marmite and PG Tips, has strongly rejected a takeover bid from US giant Kraft Heinz. The UK-based household goods maker said it saw “no merit, either financial or strategic” in Kraft’s offer, worth about $143bn (£115bn). But Kraft, which makes Heinz ketchup, indicated it would continue working on a deal, sending … Read more
Asian stocks rallied to 1-1/2-year highs on Monday, helped by renewed hopes over U. S. President Donald Trump’s tax reform plans, generally upbeat global economic data and a rebound in some commodities. The U.S. dollar rose against the yen on relief that Trump set aside tough campaign rhetoric over security and jobs in a relaxed … Read more
The Monetary Policy Committee (MPC) of the Bank of Ghana maintained its prime rate despite a potential drop forecast by economists. The policy rate which stood at 25.5 percent in November last year after a 50bps reduction, remains same for January 2017. The stationarity of the rate was accorded to government’s inability to meet the … Read more
The dollar slid broadly on Monday after U. S. President Donald Trump struck a protectionist tone in his inauguration speech, undermining optimism over the U.S. economy spurred by his promises of tax cuts and other stimulus. Japan’s Nikkei dropped 1.1 percent while shares in Australia dropped 0.8 percent after the Trump administration, on its first … Read more
Asian stock markets rose on Tuesday while crude oil prices languished near three-week lows, with investors uncertain whether output cuts by some major exporters would be enough to offset increasing supplies from other producers. Sterling extended losses following its lowest close in three months on renewed concerns about a “hard” Brexit. European markets were poised … Read more
The dollar edged higher on Monday, boosted by robust U. S. wage growth data strengthening the case for more Federal Reserve interest rate increases, while Britain’s pound fell on Prime Minister Theresa May’s hint at no membership of the EU’s single market. Britain’s blue-chip FTSE 100 index .FTSE nonetheless hit a record high as the … Read more
Precious metals miners sent the FTSE 100 index of leading shares to a fresh high on Thursday, powered by a rise in gold prices. In a continuation of December’s Santa rally, blue chip stocks rose by 14.18 points to close at a record 7,120.26. Randgold Resources and Fresnillo led the FTSE 100 climbers for a … Read more
Asian shares struggled on Thursday after a lacklustre performance on Wall Street as investors looked to U. S. economic data later in the day for potential catalysts, as markets wind down ahead of the holidays. The subdued mood was expected to carry over into European trading. Britain’s FTSE 100 index could edge down 0.1-0.2 percent, … Read more
A wave of selling sweeping across bond markets resumed on Monday as investors continued to digest the impact of a Donald Trump presidency. US and European bond prices have sunk in expectation that he will enact inflationary policies that speed the pace of interest rate rises. On Monday, some bond yields – which rise as … Read more
A searing selloff rocked Asian shares and emerging market currencies on Friday as investors feared higher U. S. interest rates under incoming President Donald Trump will spark capital outflows from the region. European shares are expected to open slightly higher after moderate losses in the previous session, with spread-betters seeing major European indexes, such as … Read more
European share markets continued to stabilize today after Asian stocks rebounded from Wednesday’s sharp sell-off in the immediate aftermath of Donald Trump’s US election victory. Hopes that Mr. Trump will introduce a pro-business agenda to stimulate US economic growth helped to blunt concerns about his surprise win. In London, Paris and Frankfurt, the main stock … Read more
European share markets rallied on Thursday after Asian stocks rebounded from Wednesday’s sharp sell-off in the immediate aftermath of Donald Trump’s US election victory. Hopes that Mr Trump will introduce a pro-business agenda to stimulate US economic growth helped to blunt concerns about his surprise win. In London, Paris and Frankfurt, the main stock markets … Read more
Asian share markets have bounced back after seeing a sharp sell-off on Wednesday in the immediate aftermath of Donald Trump’s US election victory. Thursday’s rally followed rises in Europe and the US, as the market meltdown many had anticipated failed to materialise. Japan’s Nikkei 225 index soared 5.7%, more than recovering losses from the previous … Read more
Investors around the world are reacting with shock to Donald Trump’s victory in the U. S. presidential election. Global stock markets are dropping, Mexico’s currency has tanked and U.S. stocks are poised for a very rough open. Markets hate uncertainty, and many investors believe Trump’s unpredictable nature and anti-trade stance could bring global turmoil. Dow … Read more
UK stocks have followed falls in Asian and European markets after Donald Trump won the US election. The FTSE 100 index was down about 0.5% to 6,812 in the first hour, although that was less steep than expected. Other major European stock markets are also lower, with money flowing into safe haven stocks, gold and … Read more
British American Tobacco is planning to merge with its US partner Reynolds in a deal valued at $47bn (£38bn). BAT wants to buy the 57.8% of Reynolds it does not already own. The merger would bring together some of the tobacco industry’s best-known brands, including Lucky Strike, Rothmans, Dunhill and Camel cigarettes. BAT has been … Read more
Algiers (AFP) – The Organization of Petroleum Exporting Countries (OPEC) has agreed to cut production by 750,000 barrels a day, Bloomberg News reported Wednesday, citing a delegation member. The surprise news triggered an immediate spike of more than 5 percent in crude prices, as markets had expected the Algiers meeting to end without agreement. In … Read more
Algiers (AFP) – The Organization of Petroleum Exporting Countries (OPEC) agreed Wednesday to cut oil production, ministers said, in a surprise move aimed at boosting persistently weak crude prices. The news triggered an immediate spike of more than 5 percent in crude prices, as markets had expected the Algiers meeting to end without agreement. In … Read more
GlaxoSmithKline has appointed Emma Walmsley, its current head of consumer healthcare, as its new chief executive. Ms. Walmsley, who joined the UK’s biggest drugmaker in 2010 from L’Oreal, will replace current chief Sir Andrew Witty next year. She will take over from Sir Andrew in March 2017. Ms. Walmsley, who describes herself as “competitive”, will … Read more