RBS share drop accelerates on stress test flop

Stressed. Shares in Royal Bank of Scotland have accelerated their losses this morning, falling over 4.5 per cent after the state-backed lender came in bottom of the heap in the Bank of England’s latest stress tests. RBS failed the toughest ever stress tests carried out by the BoE, with results this morning showing the lender’s […]

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Capital Markets, Financial

BGC Partners eyes new platform to trade US Treasuries

BGC Partners plans to launch a new platform to trade US Treasuries early next year, in a bid to return to a market in the middle of evolution, according to people familiar with the plans.  The company, spun out of Howard Lutnick’s Cantor Fitzgerald in 2004, sold eSpeed, the second-largest interdealer platform for trading Treasuries, […]

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Sales in Rocket Internet’s portfolio companies rise 30%

Revenues at Rocket Internet rose strongly at its portfolio companies in the first nine months of the year as the German tech group said it was making strides on the “path towards profitability”. Sales at its main companies increased 30.6 per cent to €1.58bn while losses narrowed. Rocket said the adjusted margin for earnings before […]

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Renminbi strengthens further despite gains by dollar

The renminbi on track for a fourth day of firming against the dollar on Wednesday after China’s central bank once again pushed the currency’s trading band (marginally) stronger. The onshore exchange rate (CNY) for the reniminbi was 0.28 per cent stronger at Rmb6.8855 in afternoon trade, bringing it 0.53 per cent firmer since it last […]

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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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Categorized | Economy

French consumer confidence sticks at nine-year high

Posted on November 25, 2016

The French consumer is showing few signs of jitters ahead of the presidential election next year.

Consumer confidence in the eurozone’s second largest economy remained at a nine-year high this month at 98 – the same level hit in October – on the back of a healthy outlook for living standards among French households.

The survey, carried out by stats agency Insee, found households fears of unemployment fell from 40 to 29, while inflation expectations over the next 12 months also slipped, compared to October.

Consumer confidence remains below its long-term average of 100 but climbed above its post-financial crisis high earlier this year.

It comes after Europe’s largest economy Germany saw one of its closely-watched consumer confidence gauges climb stronger than expected this month.

Consumers have been driving the eurozone’s moderate economic recovery over the past 12 months and are set to enjoy the benefits of still low inflation well into next year, according to calculations from the European Central Bank.

France heads for a key presidential election in April next year. The country’s opposition centre-right Republican party will be nominating its presidential candidate at a second round vote between two former prime ministers on Sunday.