24 August

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MARKET WRAP: FTSE 100 ekes out gains, midcaps outperform, oil jumps on Pemex fire By Investing.com

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Key Points FTSE 100 closing price of 7,121, +0.2% Travel & leisure stocks lift FTSE 250 FX markets steady ahead of Jackson Hole Oil prices jump on Mexican fire Cryptocurrencies fall as Bitcoin fails to hold above $50,000 By Samuel Indyk Investing.com – The FTSE 100 posted slight gains on Tuesday amid quiet news flow ahead of the Kansas City Fed’s Jackson Hole symposium. Sainsbury 's (LON:SBRY) shares lagged, paring back some of the gains seen on Monday amid reports that private equity was interested in the supermarket chain. Marks and Spencer (LON:MKS) shares rallied...

24 August

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Maersk accelerates fleet decarbonisation with new vessel order By Reuters

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By Stine Jacobsen COPENHAGEN (Reuters) -A.P. Moller-Maersk said on Tuesday it had ordered eight vessels which are able to run on carbon-neutral methanol to accelerate the decarbonisation of its fleet and meet increased customer demand for greener transportation. The Danish company has vowed to only order new vessels which can use carbon-neutral fuel as it seeks to deliver net-zero emissions by 2050. As vessels typically have a lifetime of 20-35 years, this means it must have a carbon-neutral fleet by 2030. The eight vessels, which can each carry 16,000 containers, will be build by South...

24 August

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Weekly Comic: What Next After a Smoking for China’s Tech Giants? By Investing.com

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By Geoffrey Smith Investing.com -- Investors on China’s biggest tech stocks going to the moon have been seriously burned in the last couple of months. Yet those fixated on the massive destruction of paper wealth (about $1 trillion, by most estimates) are probably missing the point. China’s Internet sector was riding for a fall, valuations had divorced themselves even further from reality than their U.S. equivalents, and the figures used to justify those valuations depended on a variety of sharp practices that any sensible government would have reined in long ago. That the measures which triggered...

24 August

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European shares end flat as Fed fears, virus concerns weigh By Reuters

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By Ambar Warrick and Sruthi Shankar (Reuters) -European stocks ended flat on Tuesday as investors held back from making big bets ahead of an update on U.S. monetary policy, even as data outlined a stronger-than-expected economic recovery in Germany. The pan-European STOXX 600 index closed largely unchanged at 471.79 points, following a selloff last week that knocked it off record levels. Commodity-linked sectors continued to outpace the general market, as oil and metal prices rose on expectations of a recovery in major importer China. Basic resources stocks were the best performers for the day, rising 2.0%....

24 August

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Strong bookings keep Ryanair on course to hit targets, says CEO By Reuters

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LISBON (Reuters) -Ryanair is on track to hit upgraded guidance on passenger numbers, carrying more than 10 million people this month as a post-pandemic recovery continues with strong bookings to year-end, Group Chief Executive Michael O'Leary said. The Irish airline last month said it expected to fly between 90 million and 100 million people in the 12 months to the end of March 2022, against a peak of 149 million before the COVID-19 pandemic. "Ryanair is recovering strongly, much faster than other any airline in Europe ...

24 August

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UK debt office urged to launch green gilts with 10-12 year maturity By Reuters

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LONDON (Reuters) - Investors and dealers recommended that Britain's debt office should put a 10-12 year maturity on its first green government bond sale next month with 2033 the preferred maturity year, the Debt Management Office said on Tuesday. A planned second sale in October was recommended to have a maturity of around 30 years with 2053 the preferred option, the DMO said on Tuesday. Britain's government plans to issue at least 15 billion pounds ($20.6 billion) of new debt this financial year which is designed to tap into investor demand for bonds to fund...

24 August

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Two-thirds of Japan’s smaller firms’ sales still below pre-COVID level -survey By Reuters

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By Kantaro Komiya TOKYO (Reuters) - Almost 68% of small and medium-sized Japanese companies posted lower sales in July than in the same month of pre-pandemic 2019, according to a survey by credit research firm Tokyo Shoko Research released Tuesday. At the same time, 57% said they no longer needed emergency injections of cash. The two readings highlight how hard a sector that employs about 70% of Japan's contracted workforce excluding farming and fishing is finding it to thrive after, rather than survive during, the pandemic, and by extension COVID-19's lasting impact on the world's third-largest...

24 August

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Shadow banks need tighter regulation, ECB’s Schnabel says By Reuters

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FRANKFURT (Reuters) - Non-bank financial firms, more commonly known as shadow banks, need tighter regulation as their increasing risk profile could impair central bank policy during periods of stress, European Central Bank board member Isabel Schnabel said on Tuesday. "To preserve financial stability and protect policy transmission, the current regulatory landscape needs to better reflect the fact that credit intermediation increasingly takes place outside the banking sector," Schnabel, the head of the ECB's market operations, told a conference. "Non-banks have taken on substantial duration, liquidity and credit risks on their balance sheets," Schnabel said. "This...

24 August

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Afghan envoy tells U.N. that millions live in fear under Taliban By Reuters

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GENEVA (Reuters) -A senior Afghan diplomat from the deposed government on Tuesday called for accountability for Taliban actions, describing an "uncertain and dire" situation where millions of people fear for their lives amid reports of forced marriages and door-to-door searches. Addressing an emergency session of the U.N. Human Rights Council in Geneva, Ambassador Nasir Ahmad Andisha called for member states to send a strong message to the Taliban and others that rights abuses "will have consequences". However, so far a draft of the council's resolution submitted by Pakistan does not mention the Taliban by name and...

24 August

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S.Korea set to curb Google, Apple commission dominance By Reuters

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By Heekyong Yang SEOUL (Reuters) -South Korea is likely to bar Google and Apple from requiring software developers to use their payment systems, effectively stopping them from charging commissions on in-app purchases, the first such curbs on the tech giants by a major economy. The parliament's legislation and judiciary committee is expected on Tuesday to approve the amendment of the Telecommunications Business Act, dubbed the "Anti-Google law," that takes aim at app store operators with dominant market positions. If the bill gets the committee's approval, it will be put to a final vote on Wednesday....

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MARKET WRAP: FTSE 100 ekes out gains, midcaps outperform, oil jumps on Pemex fire By Investing.com

Maersk accelerates fleet decarbonisation with new vessel order By Reuters

Weekly Comic: What Next After a Smoking for China’s Tech Giants? By Investing.com

European shares end flat as Fed fears, virus concerns weigh By Reuters

Strong bookings keep Ryanair on course to hit targets, says CEO By Reuters

UK debt office urged to launch green gilts with 10-12 year maturity By Reuters

Two-thirds of Japan’s smaller firms’ sales still below pre-COVID level -survey By Reuters

Shadow banks need tighter regulation, ECB’s Schnabel says By Reuters

Afghan envoy tells U.N. that millions live in fear under Taliban By Reuters

S.Korea set to curb Google, Apple commission dominance By Reuters

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