London headlines |
| * Fonterra dairy recall shakes China consumer confidence * Eike Batista faces legal action from investors * Markets subdued as Asia ponders US data * Ramadan brings fast profits for Indonesian traders * Yes Bank loses shine as India liquidity ebbs * Grosvenor to accelerate push into Asia * Huawei to open London office to manage global finances * US shale exports open the door to Asian chemicals makers Markets: mixed
Fonterra dairy recall shakes China consumer confidence China has ordered the recall of potentially contaminated milk imported from New Zealand after Fonterra, the world's largest dairy exporter, found in its products bacteria that can cause botulism.
Eike Batista faces legal action from investors
A group of investors is preparing to take legal action against Eike Batista, formerly Brazil's richest man, over allegations including insider trading as anger rises over the near collapse of his oil company OGX. http://on.ft.com/14b6IWL Markets subdued as Asia ponders US data
There was a subdued tone in Asian equity markets as investors reacted to Friday's weak US jobs report, a stronger yen, and another soft economic reading from China.
Ramadan brings fast profits for Indonesian traders
Most of Indonesia's 200m Muslims fast from dawn to dusk during the holy month of Ramadan – but when the sun goes down, the food and the cash start flowing in abundance. http://on.ft.com/149PTeL
Yes Bank loses shine as India liquidity ebbs
For most of the past decade Yes Bank has been the fastest-growing and highest-profile upstart in a new generation of Indian private banks. But in the aftermath of government moves to prop up the nation's currency, it is gaining a fresh reputation as the biggest loser from India's new moment of tighter liquidity. http://on.ft.com/13cGzn7
Grosvenor to accelerate push into Asia
The Duke of Westminster's property empire is ramping up exposure to Asia mainly through luxury residential developments, in a move that goes against the trend of eastern money flowing into western bricks and mortar. http://on.ft.com/18XnMQX
Huawei to open London office to manage global finances
Huawei will establish a London-based team to manage the Chinese telecoms manufacturer's international finances in the latest sign that the privately owned group is embracing western practices.
US shale exports open the door to Asian chemicals makers
For years, US chemical companies have benefitted from the Obama administration's efforts to make the shale gas boom the saviour of US energy security. With US companies forbidden to export gas, the chemicals industry, for whom natural gas is a major ingredient, has enjoyed artificially low prices. http://on.ft.com/18OYULh
Emerging Markets
MSCI Emerging Market Index up +0.21% at 957.31
Americas
DJIA up +0.19% at 15,658
S&P 500 up +0.16% at 1,710
Bovespa down -1.36% at 48,474 Asia
Nikkei 225 down -0.81% at 14,349
Topix down -0.58% at 1,189
Hang Seng up +0.16% at 22,227
Shanghai Composite up +0.15% at 2,032
MSCI Asia ex-Japan up +0.18% at 520.71
CNX Nifty down -0.12% at 5,671 Currencies
€/$ 1.33 (1.33)
$/¥ 98.77 (98.89) Commodities
Brent Crude (ICE) up +0.34 at 109.29
Light Crude (Nymex) up +0.21 at 107.15
100 Oz Gold (Comex) up +6.90 at 1,318 |
