Week 36 2017

Week 36 2017

04 September – 08 September

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04 September

 

The rate of growth of producer prices in the Eurozone remained broadly stable in July, as high rates of growth in the cost of consumer and intermediate goods offset slower growth in energy prices.

 

Acacia Mining, one of the largest gold producers in Africa, has cut production forecasts as it announced plans to reduce operations a key Tanzanian mine that has been hit by a bitter dispute with the government over exports and taxes.

 

It is the part of the stock market that simply refuses to lie down. Despite declines earlier in August, US technology stocks were still the best performing sector on the S&P 500 last month.

 

Commodity analysts have been caught on the hop by a sudden rally in the copper market that has driven the price of the industrial metal to its highest level in almost three years.

 

05 September

 

Production at one of Hyundai Motor’s factories in China was suspended on Tuesday after a dispute with a supplier, just a week after a major manufacturing interruption.

 

Apax Partners, the London-based buyout firm, has secured $1bn for its first-ever technology-focused fund, according to a letter to investors seen by the Financial Times.

 

Japan Post Holdings, which announced a loss in its first full year as a listed company, is poised to announce details of an estimated $12bn share sale, say people close to the process. It is the first equity offer from group since its record-breaking IPO two years ago.

 
 
It is the part of the stock market that simply refuses to lie down. Despite declines earlier in August, US technology stocks were still the best performing sector on the S&P 500 last month.

 

06 September

 

Business confidence in South Africa fell to its lowest level since the mid-1980s in August, as nervy business owners fretted about the outlook for the economy and political uncertainty in the country.

 

Toshiba is weighing a two-page proposal from Western Digital that would see the US chipmaker dropping a tormented legal action, renegotiating the terms of a joint venture and pulling out of a consortium bidding ¥1.9tn ($17.4bn) for Toshiba’s prized flash memory business.

 

CEFC China Energy is in talks to invest in Russia’s state-controlled oil company Rosneft, in what would be a sign of strengthening economic co-operation between Moscow and Beijing even as relations with the US deteriorate.

 

The loonie’s on fire ahead of Wednesday’s interest-rates decision from Canada’s central bank.

 

07 September

 

Australia’s trade surplus came in well below expectations in July with declines in key commodity exports offsetting a decline in imports.

 

Retailers outperformed a listless London market on Tuesday amid hopes of a solid results season for the sector.

 

Investors are stocking up on Gap after the retailer said it will shift focus to growth opportunities, including improved online shopping options and new stores for its fastest-growing brands, while also closing underperforming Banana Republic and Gap stores.

 

Shares in Tokyo Electric Power Company lifted 2.8 per cent on Thursday after reports Japanese regulators may be edging closer to permitting the restart of a major nuclear power plant.

 

08 September

 

Tajikistan has raised $500m from its inaugural 10-year international bond, paying a fixed rate of 7.125 per cent in the latest evidence of keen investor appetite for relatively high-yielding sovereign debt from infrequent and new issuers.

 

Growth in China’s exports slowed more than anticipated in August as demand from major trading partners softened, while imports enjoyed an unexpected boost.

 

Ratings agency S&P Global on Thursday pushed Toys R Us deeper into junk territory after it cut its corporate credit rating by one notch to ‘CCC+’ from ‘B-’ and placed all ratings on CreditWatch with negative implications, leaving it at risk of a further downgrade.

 

Shares in credit reporting agency Equifax are down by more than 13 per cent in pre-market trading, after the company revealed a massive breach of its cyber defences that may have compromised the data of 143m US consumers.