Oct 1, 2018
LGT acquired a USD 25 million stake in the Chinese investment bank China Renaissance when the company successfully went public on 27 September. The private banking and asset management group of the Princely House of Liechtenstein is one of three cornerstone investors in the business, which focuses on Asia’s strong new economy sectors.
Oct 15, 2018
Positive quarterly balance sheets of major US banks (see stock commentary), hopes of new high-level negotiations between the US and China on the trade dispute at the G20 summit in Buenos Aires at the end of November, and continued solid consumer confidence in the US ensured a conciliatory end to the week last Friday. The sell-off was mainly driven by technology stocks and the International Monetary Fund's (IMF) warning of a slowdown in the global economy as a result of the trade conflict. In Europe, Italy in particular remains a factor of uncertainty.
Oct 12, 2018
Rising interest rates and fears of a global economic slowdown due to an escalation of the trade war shook stock markets worldwide. After the sell-off on Wall Street, European stock indices stabilized again yesterday, and Asian stock markets have also managed to contain their losses this morning. Later in the day, JPMorgan, Citigroup and Wells Fargo will ring in the US reporting season.
Oct 11, 2018
Investors' risk aversion heightened by rising interest rates and ongoing concerns over the trade conflict and its potentially negative impact on global economic growth has led to a sharp correction on Wall Street and Asian stock markets yesterday. In Tokyo, the 225 value Nikkei index plummeted by more than four percent – the sharpest drop since March. In China, the CSI300 also lost more than four percent.
Oct 10, 2018
In view of the tensions between Rome and Brussels, the sell-off of Italian government bonds is continuing, driving yields on ten-year securities to over 3.7% – the highest level in the past four-and-a-half-years. The spread to comparable German government bonds thus widened to 312 basis points, or to a five-and-a-half-year high. Rising interest rates on capital markets continue to cause nervousness on stock markets and yesterday pushed the German stocks benchmark Dax to its lowest level since the beginning of April.