Expectations for Draghi’s second QE programme were running so high that, in the end, he disappointed the markets. Investors had bet on more aggressive stimuli, so the European stock exchanges tumbled over 3% at the close (having been in positive territory mid-morning). The euro jumped to over 1,09 dollars (its biggest rise since March) and European debt registered its largest increase so far this year.
Year 2015, with all the problems and possible scenarios, will mark a new record in terms of listed companies’ earnings, exceeding the 32 billion euros registered in 2014.
By Nailene Chou Wiest via Caixin | When the authorities scapegoat a journalist because he wrote a story without official permission, they scare anyone who wants to perform policy-related reporting.
By Peter Lundgreen via Caixin | The turmoil on world financial markets has more to do with global changes that need to be noted than recent volatility in China’s stock exchange.
The adjustment is serious and is a reaction to the eruption of China’s triple bubble: credit, real estate and stock markets.
LONDON | UBS analysts | Actual reported earnings are showing strong numbers; based on reported earnings so far Q2 is one of the strongest seasons in c. 5 years.
BEIJING | July 10, 2015 | By Alberto Lebrón | Can you imagine a country capable of losing, in just three weeks, nearly five times what Greece owes the Troika? Chinese stock markets have lost ten billion yuan. In euros, that is almost one and a half billion, more than Spain’s entire GDP.
BEIJING | July 8, 2015 | Caixin | The government was slow to recognize the risks that umbrella trusts created, then acted as if the Shanghai Composite Index should set policy.
MADRID | July 3, 2015 | By Francisco López | Investors who bought a Spanish 10-year bond last January 1st are losing today 3.8% of their investment. Those who chose a financial product linked to lbex35 earned 6% in the same period, despite the recent fall caused by the Greek crisis.The evolution of the Spanish stock market has been better in the first half of the year and, according to experts, may further improve.
BEIJING | July 2, 2015 | By Xu Gao via Caixin | Moves by the Chinese central bank (PBOC) indicate that it is paying close attention to margin trading and the commitment that banks have made to the bourse.