Stock index futures pointed to a lower opening on Wall Street on Thursday, with futures for the S&P 500 down 0.6 percent, Dow Jones futures down 0.57 percent and Nasdaq 100 futures down 0.58 percent at 1000 GMT. Germany’s manufacturing sector shrank for the first time this year in March on the back of falling new orders, raising concern over its resilience to the euro zone crisis, and sending European share prices down more than 1 percent in morning trade. The euro zone’s economy took an unexpected turn for the worse in March, hit by a sharp fall in French and German factory activity that even the most pessimistic economists failed to predict
Reuters Market Eye – Shares in automaker Tata Motors (:TAMO.NSTAMO.NS) fell for a fourth straight session on margin worries at its luxury car unit Jaguar Land Rover (NasdaqGS:JLR – NewsJLRnull), dealers said, following reports of major discounts offered by rival luxury car brands in China.
English-speaking countries do well in global business
Washington, March 21 (ANI): Countries that have English as at least one of their official languages, or whose main languages are linguistically close to English have higher rates of investment in other countries, according to a new study. Countries with high rates of English proficiency also do well, the study from the University of Toronto’s Rotman School of Management found. “The vast majority of the world’s trade and investment is actually among or between or involves English-speaking
Analysis: Turning point in the currency war
NEW YORK (Reuters) – A warning about China’s growth sparked selling in energy and industrial shares on Tuesday, but the broad market’s losses were contained, a sign of resilience for U.S. stocks.The steady drumbeat of calls for a correction has not abated since the S&P 500 hit its highest level in nearly four years. Signs of a slowdown in China were the catalyst for selling, though the S&P 500 ended far off the day’s lows.
The S&P energy index (REU:GSPEI) fell 1.4 percent and ranked as the worst performer among the S&P 500 sectors. Global mining giant BHP Billiton said it saw signs of “flattening” iron-ore demand from China, the world’s top metals consumer, hitting the commodities markets and energy stocks.
Wall Street slips on China, but retailers offset losses
LONDON (Reuters) – A counteroffensive of sorts may be underway this year in what has seemed like a one-sided “global currency war” as developing economies slow, western money-printing pauses and the heat comes out of pumped-up emerging market currencies.
The three-year-old “war”, as Brazil dubs the devaluationist policies of developed nations seekingrelief from home-grown credit crunches, may well just come full circle and burn itself out as a result.