NMC Health , the Middle Eastern hospital operator that's part of the FTSE 100 and a target of short-seller Muddy Waters, said its board "remains disappointed" in the disclosures made by Dr Bavaguthu Raghuram Shetty on his ownership. The company said it's not able to independently verify the information received from Shetty, the company's alleged top shareholder who on Monday stepped down as chairman. "The Board continues to encourage Dr Shetty and his advisers to ascertain the correct legal position in relation to his ownership of Ordinary Shares without further delay," the company said in a statement.
Apple said it wouldn’t meet its quarterly financial guidance because of the Chinese coronavirus outbreak. That has shares around the world falling Tuesday morning.
A sharp fall in the FTSE 100’s most heavily weighted stock — HSBC — dragged the U.K. index deep into the red on Tuesday
European stocks under pressure a day after Apple warns on its fourth-quarter guidance, owing to fallout from the coronavirus. Chip makers were in the firing line, while HSBC also slid on a profit plunge and potentially 35,000 job cuts.
European stocks are lower for Tuesday as an Apple warning rattles across markets, hitting tech stocks especially. HSBC is dragging down the banking sector after a big profit slump and restructuring plans.
By Geoffrey Smith
By Peter Nurse
The futures point to the red as the markets react to Apple’s profit warning. German business sentiment figures will be another test later today.
British stocks edged higher on Monday, with companies sensitive to Chinese demand getting a boost from the country’s efforts to limit the economic fallout from the deadly coronavirus.
The euro showed broad-based weakness last week but the momentum has slowed and EUR/USD is seen falling into a consolidation near lows not seen since 2017.
By Geoffrey Smith
Lansdowne Partners has continued a run of disappointing performance into this year, after the bet by one of Europe’s biggest hedge funds on a recovery in UK stocks failed to pay off. Mayfair-based Lansdowne, which manages about $15bn in assets, suffered a 5.7 per cent fall in its flagship Developed Markets hedge fund in January, according to numbers sent to investors and seen by the Financial Times. “Our conviction in the UK opportunity is very high,” Lansdowne wrote in a recent letter to clients.
It could be a testy day ahead. While COVID-19 numbers reflect a slowdown in the number of new cases, the economic outlook looks bleak.
It’s a busy week ahead, with private sector PMI numbers likely to reflect the impact of COVID-19 on economies. Falling cases should soften the blow, however.
It was quite a week for the global financial markets, with the bulls coming out on top. COVID-19 will remain the headline for now…
It was another bullish week for the majors, in spite of 3 consecutive days in the red. Economic data and COVID-19 remain negatives, however.
More coronavirus cases reported in China has roiled global stock markets. Gold is higher, travel shares are falling. Cisco Systems and NetApp shares are moving on earnings news.
Executives, experts, and influencers join the Yahoo Finance team to discuss what's moving the world of finance.
Royal Bank of Scotland Group tossed the kitchen sink at investors on Friday, but markets only had eyes for weakness in results from the mostly government-owned bank.
Happy Valentine’s Day. Stocks are bounding back from Thursday’s revelation there are more coronavirus cases in China that originally reported. Earnings news is dominating stocks in premarket trading Friday.
Wall Street looks on pace to record a solid weekly gain amid the lingering coronavirus concerns, but the rising number of new infections has kept investors cautions.
European stocks struggled for action on Friday, as Germany reported weak growth data and investors weighed up more China cases of the deadly COVID-19 virus.
European stocks struggled for traction on Friday as investors continue to grapple with how to read sharply rising coronavirus cases out of China, and as German data showed a stagnation in growth.
Khalifa al-Muhairi, one of NMC’s controlling shareholders, has resigned from the board of the healthcare group after a turbulent few months in which the company’s finances and ownership structure have been questioned. The largest private healthcare provider in the United Arab Emirates said Mr Muhairi, the executive vice-chairman, stepped down on Friday. Along with India-born founder BR Shetty, he had been asked to step back from board duties earlier this week when it was disclosed that their shareholdings had been inaccurately reported.
By Peter Nurse
Economic data and COVID-19 updates will influence. Weak numbers out of Germany and negative sentiment towards growth is a bad combination.
The British pound and U.K. government bond yields shot higher Thursday in reaction to the surprise resignation of Sajid Javid as chancellor, as markets anticipate more spending from the Boris Johnson-led government.
Equity markets plunge after China upped the number of coronavirus cases and deaths, this outbreak is far more impactful than investors realize.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Germany’s DAX Index racked up another record high on Wednesday as virus fears faded and China pledged to meet its economic targets. Despite some profit warnings, German stocks are far removed from the drama of last year, while domestic political wobbles have been brushed aside so far. But tomorrow’s GDP numbers may give an indication on the recent health of Europe’s biggest economy, while the impact of the coronavirus still lies down the road.So far, the earnings season hasn’t been great for the nation’s stocks. After about 20% of companies from the broader HDAX reported for the quarter, Bloomberg data show that earnings missed to the downside by an average of 5.9%. On a more positive note, the profit warning story count is much quieter than during the three previous periods.But as a total-return index, the DAX includes dividends, which can be vulnerable -- as luxury-car maker Daimler AG illustrated this week. The recent records for the benchmark look far less impressive when you strip out such payouts. Indeed, the DAX Price Index (DAXK) is still 5% below its 2018 record high and has failed multiple times in recent years to durably overcome its 2000 peak.What’s more, recession risks are rising. Germany’s economy is expected to have grown 0.1% in the fourth quarter, but some economists see a contraction. Given the surprise drop of France and Italy’s GDP at the end of 2019, the low expectations suggest there’s a limited buffer against the prospects of a downturn.For Germany the following applies: incoming factory orders are still descending and the indicator for further industrial production planning determined by the OECD is pointing downwards, says VP Bank AG Chief Economist Thomas Gitzel. Both indicators are part of his euro-area recession indicator, which continues to climb.Then there’s the virus. The DAX members generate 20% to 25% of their revenue from emerging markets, according to Barclays Plc strategist Emmanuel Cau, with a large majority from China. The viral outbreak increases downside risks for activity and earnings, with Europe not immune as it is “highly exposed to Chinese demand, supply chains and tourism,” he saysWhile consensus puts earnings growth for the DAX at 13% this year and 12% next year, the bigger problem might be that “companies will again have to revise their outlook repeatedly in 2020,” DZ Bank AG strategist Christian Kahler writes in a note.Within the German gauge, Adidas AG, Infineon Technologies AG and BMW AG are among stocks with the biggest revenue exposure to China. Adidas could be a stock to watch as its supply chain is also heavily exposed, with 27% of factories located in China, while the country accounts for 22% of the group’s sales, Mainfirst estimates. Citi cut its forecasts this week, while the shares have barely recovered from their 10% drop since the virus crisis escalated in mid-January.As a consequence, index earnings forecasts could fall, leading to a further rise in valuation, which is already trading above the 15-year average. “Buying shares just because of a perceived lack of alternatives is not recommended,” Kahler adds.As for the impact on GDP, Deutsche Bank AG economists even forecast a 0.2 percentage point impact on German growth from the coronavirus. Given the current low growth path, it makes a technical recession “absolutely possible,” they say.To contact the reporters on this story: Michael Msika in London at firstname.lastname@example.org;Jan-Patrick Barnert in Frankfurt at email@example.comTo contact the editors responsible for this story: Blaise Robinson at firstname.lastname@example.org, Jon MenonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
By Peter Nurse
Upward momentum in the week has come off the back of falling rates of infection in China. It may be too soon, however, to thing the worst is over…
China reported the slowest rate of new coronavirus infections since January 30, suggesting health authorities could be gaining ground on the spread of the deadly disease.
European markets are set to open slightly higher on Wednesday morning after China recorded its lowest number of new coronavirus cases since January.
By Peter Nurse
It could be a testy day ahead. The coronavirus numbers will need to show a further easing in the rate of infection and there’s Eurozone stats in focus.
European stocks rebounded on Tuesday in a broad-based advance, with the travel sector rallying as tour operator Tui demonstrated how it has benefited from the collapse of a rival.
Global stocks rise as coronavirus fears continue to ease. Risks to the global economy remain, we’ve not seen the end of this outbreak yet.
By Peter Nurse
It’s another quiet day on the economic calendar, leaving the majors in the hands of the news wires and FED Chair Powell’s testimony.
European markets are expected to open lower on Monday amid ongoing concerns around the coronavirus outbreak in China.
By Peter Nurse
The futures point to the red as the market digests growth forecasts for China. The spread of the coronavirus has continued despite government best efforts.
It’s a busy week ahead. While the stats will influence, there’s Brexit, Trump and the coronavirus to consider and the RBNZ…
The week belonged to the Dollar. Economic data supported the more positive outlook towards the economy as President Trump got acquitted.
Markets in Europe extended their losses from last week on Monday as tensions in the middle-east region following U.S. strikes in Baghdad ...
Turnover of CEOs at FTSE 100 companies is on pace for an all-time record in 2019, with 14 bosses having left or announced plans to leave their posts so far this year.
European markets are expected to open broadly higher on Wednesday with investors appearing to brush off escalating trade tensions between the U.S. and China.
European stocks are set to open lower Tuesday morning after the Trump administration decided to impose 10 percent tariffs on $200 billion worth of Chinese imports.
European stocks are set to open lower Monday morning, amid renewed fears over an escalating trade war between the world's two largest economies.
European stocks are set to open higher Friday morning, after an expectedly sharp interest rate hike in crisis-hit Turkey supported the lira and global risk appetite.
Equity indices across Europe are expected to open lower on Thursday morning ahead of several central bank meetings.
Bourses in Europe are set to open mixed Wednesday morning, as investor sentiment is dented by new tensions between the U.S. and China surrounding trade.
Markets in Europe are poised to start Tuesday's trading on a higher note, continuing the positive momentum seen in other global markets.
Shares in Europe are poised to start the week on a lower footing amid ongoing concerns over global trade.
European shares are expected to open slightly higher on Friday morning, but investors remain cautious amid new trade threats.
Stocks in Europe are set to open slightly lower on Thursday amid ongoing concerns over emerging markets and potential new U.S. tariffs on China.
European stocks are set to open lower Wednesday morning, as renewed fears over international trade conflicts limited investor appetite for riskier assets.
European stocks are set to open lower Wednesday morning, after emergency austerity measures in Argentina underscored the recent turbulence in emerging markets.
European stocks are set to open slightly lower Monday morning, amid heightened concerns of an escalating trade war between the world's two largest economies.
European stocks are set to open lower Friday morning, amid heightened fears of an escalating global trade war between the world's two largest economies.
European stocks are set to open slightly lower Thursday morning, as investors continue to monitor global trade talks.
European stocks are set to open slightly higher Wednesday morning, as investors continue to monitor global trade developments.
European stocks are set to open higher Tuesday morning, with risk appetite boosted by news of an agreement between the U.S. and Mexico to overhaul the North American Free Trade Agreement (NAFTA).
European stocks seen mixed ahead of a key speech by Jerome Powell, the chair of the U.S. Federal Reserve.
Stocks in Europe are expected to open lower Thursday morning after Beijing implemented new retaliatory tariffs against the United States.
European stocks are set to open lower Wednesday morning, as investors continue to monitor trade talks between the world's two largest economies.
European stocks are set to open lower Tuesday morning, as comments from President Donald Trump weigh on the dollar and test market optimism ahead of U.S.-China trade talks.
European stocks are set to open mixed Monday morning, with investors awaiting the outcome of trade talks between the world's two largest economies later this week.
European stocks are set to open slightly lower Friday morning, after news the U.S. and China have agreed to hold their first trade talks since June next week.
Bourses in Europe are expected to open higher Thursday morning following news that China has accepted an invitation from the United States to talk trade in late August.
The pay of FTSE 100 bosses surged 11 percent in the past year, pushing their median pay up to nearly £4 million ($5.1 million), according to a report which also found full-time employees received a 2 percent rise over the same period.
Shares in Europe are expected to start Wednesday's trading a touch higher as concerns over the Turkish currency crisis continue to affect investors' appetite.
European stocks are expected to open in the black Tuesday morning as concerns over Turkey's economic woes eased.
European stocks are set to open lower Monday morning, as investors monitored renewed trade tensions and a deeper slide in the Turkish lira.
European stocks are set for a mixed open Thursday morning amid a deepening U.S.-China trade dispute and a flurry of corporate earnings.
European futures traded mixed in premarket trade Wednesday, amid investors keeping a close eye on Brexit developments and corporate earnings.
European futures traded slightly higher in premarket trade Tuesday, as investors kept a close eye on trade tension and earnings.
European stocks are set to open higher Monday morning, amid a backdrop of renewed trade tensions.
Stocks in Europe are set to begin Friday's trade higher by a comfortable margin.
European markets are set for a negative open Thursday morning, while the Bank of England is expected to raise interest rates despite uncertainty over what Brexit could mean for the U.K. economy.
European bourses are set to begin trade on Wednesday in negative territory.
Major European bourses are set to open in the red by a slim margin on Tuesday ahead of a slew of data and corporate releases.
European markets are set to begin the week on the back foot, with all major bourses expected to open in the red.
European markets are expected to begin Monday’s session on a negative note, mimicking weaker trading in markets overseas.
Shares in Europe are poised to open lower Friday following remarks from President Donald Trump about the Federal Reserve.
European shares are set to start Thursday’s trading session on a mixed note, as investors await further corporate results and digest political events.
European shares are set for a strong open on Wednesday carrying on the positive sentiment that kickstarted on Wall Street.
Stocks in Europe are poised for a mixed open Tuesday as investors await further corporate results and remarks by Federal Reserve Chairman Jerome Powell.
European shares are expected to open mostly higher Monday as investors focus on earnings and monitor an upcoming meeting between the United States and Russia.
European stocks are set to open higher Friday morning, tracking overnight gains on Wall Street amid elevated expectations of strong U.S. earnings.
European stocks are set to open higher Thursday morning, as markets consolidated steep losses from the previous session when heightened fears of an escalation to the U.S.-Sino trade war soured investor sentiment.
European shares are poised for a lower open Wednesday morning after U.S. authorities unveiled a new list of Chinese products that could see new tariffs.