Daily Archives: May 3, 2010

further reading

May 3, 2010 11:03 pm by Shannon Bond
Posted in Global |

Americas market wrap: Mexican stocks rise on US recovery, Petrobras drags Brazil

May 3, 2010 10:21 pm by Shannon Bond

Latin American markets gained as strong US economic data boosted recovery hopes and the Eurozone’s bail-out of Greece fueled risk appetite. Brazilian stocks fell, however, on concerns over Petrobras’s share sale.

Continue reading: “Americas market wrap: Mexican stocks rise on US recovery, Petrobras drags Brazil”

Posted in LatAm |

Vale gets and gives bargains in latest deals

May 3, 2010 9:03 pm by Jonathan Wheatley

We’ve had two big deals from Vale, Brazil’s mining giant, over the past few days. One of them makes perfect sense. The other is more puzzling.

Continue reading: “Vale gets and gives bargains in latest deals”

Tags: , ,
Posted in Brazil, LatAm |

Africa: a coup in Niger raises questions about China’s tactics

May 3, 2010 2:26 pm by Tom Burgis

Like Britain and France a century ago, China is finding that its push into Africa is running into a few local difficulties. Even when Beijing arrives offering gifts in return for the mineral resources it covets, it discovers that money isn’t everything. Its emissaries must still manage to identify the right movers and shakers to cosy up to.

Take Niger, for example. The impoverished country’s uranium deposits are world-class. But keeping your grip on the mines is anything but easy.

Continue reading: “Africa: a coup in Niger raises questions about China’s tactics”

Posted in Africa, Asia, China |

Mumbai terror: investors will be watching

May 3, 2010 1:39 pm by Joe Leahy

The conviction of Mohammad Ajmal Kasab on Monday of multiple counts of murder, conspiracy, terrorism and waging war on India for his part in the attacks on Mumbai in November 2008 will hardly come as a surprise to most.

A photograph of him strolling through Mumbai’s main railway station, Chhatrapati Shivaji Terminus, brandishing his AK-47 has become one of the most well-known images from the attacks.

Continue reading: “Mumbai terror: investors will be watching”

Posted in Asia, India |

CEE market snapshot: markets await Greek bailout details

May 3, 2010 1:32 pm by Anjli Raval

Central and eastern European markets fell on Monday as investors awaited details of the €110bn bailout package for Greece which was approved on Sunday. The region’s currencies gained against the euro which was under pressure as investors doubted whether Greece would be able to sustain austerity measures which were needed to secure the aid programme.

Continue reading: “CEE market snapshot: markets await Greek bailout details”

Posted in Europe |

China’s central bank turns the screw – too gently?

May 3, 2010 1:18 pm by Stefan Wagstyl

China has applied another turn of the screw to its banks, tightening reserve requirements on Sunday for the third time this year. But there are serious doubts among economists whether these gradual moves to cool the economy are having much effect.

Continue reading: “China’s central bank turns the screw – too gently?”

Posted in Asia, China |

New York headlines

May 3, 2010 12:54 pm by James Fontanella-Khan
  • Mumbai attacks gunman convicted
  • Swire properties plans $2.7bn IPO
  • BofA-Merrill taps Bhatia for India role
  • Africa boom lures investors
  • China to raise reserve ratio by 0.5 per cent
  • India’s Future Group signs deal with Carrefour
  • Lula recovery ignites record Brazilian bond sales
  • Simor pledges to stay at Hungarian central bank
  • S Korea’s central bank set to hike rates
  • Asia sovereign credit risk index to start
    Continue reading: “New York headlines”

Posted in Global |

Asia market wrap: stocks down on Chinese central bank announcement

May 3, 2010 12:29 pm by Alexandra Stevenson

Asian markets underperformed again on Monday, with Chinese stocks dragging equities down in Hong Kong on news that China’s central bank will increase bank reserve ratios for a third time this year, increasing the ratio for lenders by 50 basis points on May 10. News that Australia plans to impose a heavy tax regime on mining companies also had an impact on Asian equities. Markets in Japan, Thailand, China and the Philippines were closed for holidays.

Continue reading: “Asia market wrap: stocks down on Chinese central bank announcement”

Posted in Asia |

Investment banks on India hiring spree

May 3, 2010 12:18 pm by James Fontanella-Khan

International investment banks operating in India are moving fast to shake up their top management teams as the environment for mergers and acquisitions in the country is improving, according an Ernst & Young study.

Continue reading: “Investment banks on India hiring spree”

Tags: ,
Posted in Asia, India |

The Russians are coming, aren’t they?

May 3, 2010 11:20 am by Tom Mitchell

UC Rusal’s controversial, but ultimately successful, Hong Kong listing was supposed to be the harbinger of an important new geoeconomic trend. If the heavily indebted aluminium group, controlled by oligarch Oleg Deripaska, could raise $2.2bn on the Chinese special administrative region’s stock exchange, surely other Russian resource companies would follow its lead.

Continue reading: “The Russians are coming, aren’t they?”

Tags: ,
Posted in Asia, Europe, Russia |

Sovereign wealth funds to avoid the sunlight in Sydney

May 3, 2010 8:50 am by Peter Smith

Sovereign wealth funds are famously publicity shy and this week’s gathering in Sydney of twenty or so of the world’s biggest will continue that tradition.

The likes of China Investment Corp, Government of Singapore Investment Corp and Temasek, also of Singapore, are taking part in the second annual gathering of the International Forum of Sovereign Wealth Funds, a group established in 2008 to promote best practice and industry understanding.

Continue reading: “Sovereign wealth funds to avoid the sunlight in Sydney”

Posted in Global |

Week ahead: May 3-7, 2010

May 3, 2010 8:03 am by Alexandra Stevenson

African business and political leaders convene for WEF Africa, Russian president Dmitry Medvedev hosts an informal meeting of former Soviet states including Ukraine, a Chinese pharmaceutical company plans to debut on the Hong Kong exchange, US non-farm payrolls are released.

Continue reading: “Week ahead: May 3-7, 2010″

Tags:
Posted in Global, India, Indonesia |

London morning headlines

May 3, 2010 5:50 am by James Fontanella-Khan
  • China to raise reserve ratio by 0.5%
  • India’s Future Group signs deal with Carrefour
  • Lula recovery ignites record Brazilian bond sales
  • Delhi to target mining groups with ethics law
  • Simor pledges to stay at Hungarian central bank
  • S Korea’s central bank set to hike rates
  • Asia sovereign credit risk index to start
  • Markets mixed
    Continue reading: “London morning headlines”

Posted in Global |

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