What to watch Cadence Design Systems: CDS, a $28bn market cap electronics design and engineering services business, has enjoyed a share price gain of 44.5% in 2020 so far. During Q2, the firm announced a collaboration with Taiwan Semiconductor and Microsoft, in order to use cloud technology to reduce the signoff schedules for new semiconductor…
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What to watch: BlackRock: The world’s biggest fund manager is scheduled to announce its Q2 earnings on Friday before the market opens. BlackRock is a key bellwether for the asset management industry, and following the blistering rally in equities in Q2, expectations are running high. The consensus is for earnings to come in at $6.99…
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Burberry cutting 500 jobs London-listed shares soared yesterday, with the FTSE 100 closing the day 1.8% up. Similar to the US, it was vaccine optimism driving prices higher, along with a surprise 0.6% June inflation figure, above estimates for the month but still well below the 2% targeted by the Bank of England. International Consolidated…
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As cases of the new coronavirus, 2019-nCoV, have exceeded 5,000 in China, many fear the economic impact. Just weeks after the tenuous truce the US and China achieved, the outbreak has put the already slowing Chinese economy in jeopardy, threatening to have global repercussions. The disease originated in the center of China and has already…
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Adam Vettese, UK Market Analyst at eToro, has provided his daily commentary on traditional and crypto markets for January 21, 2020. Global markets are all in the red this morning as China reports a fourth death from the deadly new coronavirus. It has also been confirmed that the disease can spread from human to human.…
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Economic news from China this past Friday was, in a word, “tepid”. For the first time in three decades, Chinese government officials are admitting that economic growth may decline below 6%. Foreign investment is already at 4.5% levels, suggesting there is not much in the pipeline that could boost data any time soon. The lagging…
Read moreHSBC Holdings plc (LON: HSBA) has announced a $2.5 billion share buy-back as it takes steps to soothe investors after a near 30% drop in first-half core profits. The shares rose 3.5% in London initially before falling down slightly afterwards. The bank also said that they are going to abandon their timetable for achieving a…
Read moreChina’s Forex regulator said over the weekend that it will ramp up risk control efforts, push ahead with regulatory reforms and look to accelerate the development of the worlds second largest economy's Forex market further in 2016. Within the past year we have seen numerous global financial cities open up Renminbi hubs in preparation for…
Read moreToday The Financial Times (FT) made note that the gap between the Chinese renminbi’s two exchange rates (offshore RMB and onshore RMB) has widened to a record spread. This has fueled speculation that China intends to allow its currency to fall at a faster rate than has previously been seen. Since August, the People's Bank of China (PBoC) said…
Read moreSecurities, online brokerage and financial technology continues to gain traction in China
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