07242016Sun
Last update: Sun, 24 Jul 2016 05pm

Markets - Equity

Markets - Equity - Europe

Bond yield slump, low rates highlight UK pension shortfall risks LONDON: A $500 billion gap in British company pension schemes, exacerbated by a further fall in bond yields after last month's Brexit vote, is stretching balance sheets and could discourage investors from buying some firms' shares.The collapse in bond yields, which pension funds rely on for income to pay retirees, has left the near-5,000 underfunded pension schemes in the UK in an even worse position and has sharpened investors' focus on the companies most at risk. Companies on the FTSE 100 are running a combined pension deficit in excess of 90 billion pounds, Thomson Reuters data shows. Deficits at BAE Systems, G4S and FTSE 250-listed AA exceed 40 percent of the firms' respective equity capital. Analysts at investment bank UBS say they have been fielding calls since Britons voted to leave the European Union in a June 23 referendum from clients looking for guidance on companies most exposed to the ...


Markets - Equity - Europe

London dips, European stocks rally British rates held LONDON: A Bank of England decision to leave rates unchanged at its first meeting since Britain voted to quit the EU left the London market unimpressed Thursday although European stocks finished higher.All eyes were on London after the appointment of a new British finance minister and with traders waiting to see if the Bank of England would cut its main interest rate to a new record-low level under 0.50 percent.In anticipation of a possible rate ...

Markets - Equity - Americas

TSX rises to 11-month high, led by energy and financials TORONTO: Canada's main stock index rose to a fresh 11-month high on Thursday, led by energy and financial stocks as oil rallied. The Toronto Stock Exchange's S&P/TSX composite index was up 34.17 points, or 0.24 percent, at 14,527.97, shortly after the open. Eight of the index's 10 main groups were higher.Copyright Reuters, 2016

Markets - Equity - Americas

US stocks rise after strong JPMorgan earnings NEW YORK: Strong earnings from JPMorgan Chase boosted US stocks in opening trade Thursday as equity markets shrugged off the Bank of England's decision not to cut interest rates.Dow member JPMorgan Chase jumped 2.1 percent after second quarter earnings and revenues topped expectations. Executives described US growth as solid and said it was too soon to know how the British vote to leave the European Union would affect its operations.Five minutes into trade, the Dow ...

Markets - Equity - Asia

Singapore bourse shut by technical problems SINGAPORE: Singapore's stock exchange suffered a major technical breakdown Thursday, leaving investors unable to trade for half a day. Trading stopped at 11:38 am (0338 GMT) due to a technical error, Singapore Exchange Limited (SGX) said on its website."The SGX securities market was put in adjust phase at 1138 hours due to duplicate trade confirmation messages being generated," it said.SGX promised to reopen in the afternoon but later said it was closing the exchange for ...

Markets - Equity - Europe

European stocks rally before Bank of England call LONDON: Europe's main stock markets rallied on Thursday, with Frankfurt back above 10,000 points for the first time since Britain voted to exit the EU.All eyes were on London after the appointment of a new British finance minister and as traders waited to see if the Bank of England would cut its main interest rate to a new record-low level under 0.50 percent.Around 1030 GMT, London's benchmark FTSE 100 index was 1.0-percent higher compared with ...

Markets - Equity - Middle East & Africa

Gulf markets slip as investors pause ahead of global events DUBAI: Gulf shares traded lower on Thursday after two days of gains as investors paused ahead of expected economic policy moves in major global markets.The Bank of England is due to make its first post-Brexit policy decision on Thursday, with analysts expecting the Bank to cut interest rates to a record low to calm markets.This, coupled with expectations of further economic stimulus this month in Japan, has revived risk appetite among global investors, pushing funds ...