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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Financial

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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Currencies

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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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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Categorized | Currencies

Japanese stocks turn negative as yen pares declines


Posted on November 25, 2016

Japan’s Topix benchmark flicked into negative territory in the afternoon session, jeopardising an 11-day winning streak, as the yen began to pare declines.

The Topix was trading flat, while the Nikkei 225 was up 0.2 per cent. During the morning session, the gauges were up as much as 0.9 per cent and 0.8 per cent, respectively.

The yen trimmed losses to 0.2 per cent from as much as 0.5 per cent earlier in the day, when it was threatening to break ¥‎114 per dollar. It was fetching ¥‎113.53 just after lunch in Tokyo.

Yields (which move inversely to price) on Japanese government bonds were turning lower, as was the dollar index, a measure of the US currency against a basket of global peers. The dollar index was 0.1 per cent weaker at 101.59.

But most of the movement in the foreign exchange market was between the dollar and yen. Gains and losses for other currencies were still relatively steady from where they were in the morning session.