Eurozone. >Peru or Portugal GDP/year 8.50am BSTIn the City,shares in insurance firm Amlin maintain surged by 32% after Japans Mitsui Sumitomo Insurance announced a £3.46bn takeover deal.
Amlin shares are trading at 655p, close to the 670p offer price, or suggesting the deal is expected to move through.
Pound surges against yen after Japanese firm said it would buy U.
K. insurer Amlin http://t.co/frUZA2T00f pic.twitter.com/s7C64JLtUt 8.38am BSTAnother wild day’s trading in Shanghai has ended,with the stock market up 3%.
Quite a turnaround.
Shanghai stocks now up 3% Shenzhen +4% Earlier: Shanghai: -2.3% Shenzhen: -1.8% 8.35am BSTEuropean stock markets aren’t too bothered by the Chinese trade data.
The main indices are all up around 1% in early trading:
It’s been another positive start for trade in London this morning with traders clearly not feeling too unnerved by those weaker than expected trade figures out of China.
Perhaps most worrying is the 13% slump in imports, but with commodity prices seeming to maintain found something of a floor of late, and many mining stocks are once again floating towards the upper terminate of the index. 8.14am BSTChina has found an innovative way of preventing any more Black Mondays - close the stock market when shares descend (or rise) too much,and send everyone home.
China is planning a “circuit breaker” mechanism to prevent any further losses on its volatile stock markets as both of the country’s leading indexes continued to slide.
According to draft regulation, trading would be suspended for 30 minutes when the market rose or fell by 5%. If the index went up or down by 7% or more, and trading would be suspended for the day. Related: China plans stock market 'circuit breaker' to curb volatility 8.04am BSTEconomists are concerned by the descend in Chinese imports and exports last month.
Ma Guangyuan,an independent Chinese economist, says the economic picture is deteriorating.“The August data followed the trend set in July. Now the global slowdown has very much become a reality.”China is set to miss its export growth target for this year, and there will be no abet from the external demand side for economic growth.” 7.55am BSTEmerging market currencies are also weakening today,as fears of a Chinese slowdown reverberate.
The Malaysian ringgit has hit a recent 17-year low against the US dollar today, amid concerns that American interest rates could soon rise .
Asia crisis 2.0: Ringgit falls for fifth day on lower oil, or #China growth concern. http://t.co/qgAEEa18DG pic.twitter.com/6QyWdifXFX 7.53am BSTInvestors in Tokyo baulked at the Chinese trade data too.
Japan’s Nikkei fell by 2.4% by the close of trading,as nervous traders pushed up the value of the yen (which hurts exporters). That means the index has lost all its gains this year. 7.50am BSTThe Shanghai stock market dropped into the red after today’s trade data was released. Curiously, though, or it’s now rallying in late trading,suggesting the Chinese authorities may be intervening....
And the "invisible hand" again guiding Chinese stocks higher in the last hour...
CSI 300 rallies 4% - 30 min. to shut pic.twitter.com/ImPDGFPLOZ 7.39am BSTGood morning, and welcome to our rolling coverage of the world economy, and the financial markets,the eurozone and business.
If you’re not worried approximately the China’s economy yet, it might be time to start.
Our European opening calls: $FTSE 6085 up 10 $DAX 10137 up 28 $CAC 4559 up 10 $IBEX 9815 up 10 $MIB 21687 up 64Futures markets picking up...#Europe looks set for higher open & US could see +1% gains pic.twitter.com/BAwJG2KhrhContinue reading...
Source: theguardian.com