Currencies

Nomura rounds up markets’ biggest misses in 2016

Forecasting markets a year in advance is never easy, but with “year-ahead investment themes” season well underway, Nomura has provided a handy reminder of quite how difficult it is, with an overview of markets’ biggest hits and misses (OK, mostly misses) from the start of 2016. The biggest miss among analysts, according to Nomura’s Sam […]

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Property

Spanish construction rebuilds after market collapse

Property developer Olivier Crambade founded Therus Invest in Madrid in 2004 to build offices and retail space. For five years business went quite well, and Therus developed and sold more than €300m of properties. Then Spain’s economy imploded, taking property with it, and Mr Crambade spent six years tending to Dhamma Energy, a solar energy […]

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Currencies

Euro suffers worst month against the pound since financial crisis

Political risks are still all the rage in the currency markets. The euro has suffered its worst slump against the pound since 2009 in November, as investors hone in on a series of looming battles between eurosceptic populists and establishment parties at the ballot box. The single currency has shed 4.5 per cent against sterling […]

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Banks

RBS falls 2% after failing BoE stress test

Royal Bank of Scotland shares have slipped 2 per cent in early trading this morning, after the state-controlled lender emerged as the biggest loser in the Bank of England’s latest round of annual stress tests. The lender has now given regulators a plan to bulk up its capital levels by cutting costs and selling assets, […]

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Currencies

China capital curbs reflect buyer’s remorse over market reforms

Last year the reformist head of China’s central bank convinced his Communist party bosses to give market forces a bigger say in setting the renminbi’s daily “reference rate” against the US dollar. In return, Zhou Xiaochuan assured his more conservative party colleagues that the redback would finally secure coveted recognition as an official reserve currency […]

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Categorized | Currencies

Fast Europe Open: Plenty of data


Posted on November 24, 2016

Dollar strength looms large over global markets, as the yen remained week and a number of emerging Asian markets currencies hit multi-year lows.

Japanese stocks were basically the standout in the Asian session as exporters benefited from the weaker yen. The Topix was up 0.9 per cent. Other equities benchmarks were weaker or subdued at best: Australia’s S&P/ASX 200 closed flat, Hong Kong’s Hang Seng was down 0.3 per cent and China’s Shanghai Composite was up by one-quarter of 1 per cent.

Solid US economic data boosted the dollar index on Wednesday, but the greenback was flat in late Asian trade. Still, the euro was down 0.1 per cent at $1.0548 the pound was down 0.1 per cent at $1.2436. Futures tip London’s FTSE 100 to rise 0.1 per cent.

European companies news today includes: Rémy Cointreau Q3, Monte dei Paschi meeting. UK companies reporting include: Severn Trent, Countrywide, Mothercare, HSS Hire, Pets at Home, Hornby.

Today’s economics calendar is pretty full, with a little bit of something for everyone (London times):

  • 07.00: German GDP final reading
  • 07.45: French business and manufacturing confidence
  • 08.00: Sweden confidence
  • 08.00: Spain GDP
  • 09.00: Ifo Germany
  • 09.00: ECB financial stability review
  • 09.30: BBA mortgage approval
  • 11.00: Turkey rates
  • 12.00: GFK consumer confidence Germany
  • South Africa’s interest rate decision is due today