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London stock market hits 2016 high after Chinese exports rebound - business live

Discussion in 'Market News' started by Lily, Apr 13, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    Better-than-expected trade figures from China have sent stock markets soaring across Europe and Asia

    8.43am BST

    News that Chinese exports rebounded in March has “more than revitalised the market’s spirits”, says Conner Campbell of SpreadEx:

    Whilst it is too early to claim that talk of a Chinese economic slowdown has been overstated (imports did shrink by 7.6% over March, and there is still the Q1 GDP and industrial production data to come on Friday), the announcement of an 11% rise in the country’s exports has had a miraculous effect on the European indices this Wednesday morning.

    8.33am BST

    Tesco is missing out on today’s rally, despite reporting its first sales increase in three years.

    Dave Lewis in an unsurprisingly good mood this morning. Admits he is "extremely pleased" with @Tesco FY figs but insists job not done

    8.21am BST

    Shares are rallying across Europe at the start of trading, as China’s trade figures boost confidence.

    In London, the FTSE 100 index has hit its highest level of 2016.

    In March, Chinese exports went up by 11.5% (in US dollar terms), the most in a year and an impressive recovery from February’s 25% slump.

    That’s sure to indicate that China’s still making stuff, so should be a good thing for companies that produce materials - like miners – today.

    Strong open for European stock markets this sunny morning:
    Stoxx 600: +1%
    FTSE 100: +0.9%
    CAC 40: +1.6%
    DAX 30: +1.4%

    8.06am BST

    Mixing Ambrosia custard and Bisto gravy with Schwartz’s dried spices would challenge the most daring fusion chef.

    Related: Bidder for Mr Kipling owner walks away

    7.52am BST

    The rebound in China’s exports shows that pessimism over the global economy is overdone, argues Marcel Thieliant and Mark Williams of Capital Economics:

    China’s trade data for March point to healthy growth in import volumes and add to growing evidence that the extreme gloom of a few weeks ago about the state of the domestic economy was misplaced….

    7.45am BST

    Asian markets are rallying hard, following news that Chinese exports surged 11% in March.

    The Shanghai stock market jumped by 2%, as investors hailed the better-than-expected trade figures.

    7.33am BST

    There’s relief in the markets this morning after China posted surprisingly good trade figures.

    The surge in exports adds to the improving outlook for China indicated by moderating producer price inflation and a rebound in business confidence data.

    The pickup in exports was likely supported by the devaluation of the yuan at the start of the year which made Chinese goods relatively cheaper than domestic options abroad.

    “Even with this rebound, first-quarter trade is still quite weak....We cannot be very definite about a turnaround.”

    7.14am BST

    Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

    It’s a big day for corporate results.

    . @Tesco posts FY op. profit £944m (+1.1%) = beat vs analyst consensus of £936m

    #Breaking Tesco is back in profit and has posted its first quarterly UK sales growth for three years

    Wednesday's Guardian front page:
    IMF raises stakes with warning Brexit would hit global growth#tomorrowspaperstoday pic.twitter.com/7kAfPhZUd1

    Wednesday's Times Business:
    World economy in danger of stagnating, IMF warns#tomorrowspaperstoday #bbcpapers pic.twitter.com/b0C938AytO

    Continue reading...

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