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Stock market news for May 12, 2024

An hour ago

European markets open mixed

European markets started the new trading week in mixed territory, with the pan-European Stoxx 600 gaining slightly to trade 0.03% higher.

Britain’s FTSE 100 index was up 0.07% at 8,439, Germany’s DAX was down 0.13% at 18,748, France’s CAC was down 0.4% at 8,216 and the FTSE Italian MIB was up 0.4% to 34,808.

6 hours ago

China has reportedly gone ahead with plans to sell long-term bonds worth $138 billion.

China has reportedly started planning the sale of a trillion yuan ($138.24 billion) of ultra-long-term bonds, according to reports from the Financial Times and Reuters.

The Financial Times said the People’s Bank of China “has sought advice from brokers on the price of selling the first batch of sovereign bonds.”

At the same time, Reuters said the bonds would be issued from May 17, citing sources that there would be 300 billion yuan of 20-year bonds, 600 billion yuan of 30-year bonds and 100 billion yuan of 50-year bonds.

These very long-term bonds were announced in March and are designed to finance major projects aligned with national strategies.

These bonds have only been issued three times before, during the Asian financial crisis in 1998, for the capitalization of China Investment Corporation in 2007 and during the Covid-19 pandemic in 2020.

-Lim Hui Jie

7 hours ago

Shein Reportedly Accelerates Preparations for London IPO Despite U.S. Hurdles

China’s Shein is stepping up preparations to list in London after an attempted IPO in New York was hit by regulatory challenges, Reuters reported, citing sources familiar with the matter.

The fast fashion retailer plans to file documents with the London Stock Exchange (LSE) as early as this month and will notify China’s securities regulator of the location of the IPO, according to the report.

Shein filed for an IPO in the United States in late November, valuing it at $66 billion.

—Shreyashi Sanyal, Reuters

9 hours ago

China April inflation slightly higher than expected

Consumer prices in China rose at a faster pace than expected, with the consumer price index in April registering a 0.3 percent increase year-on-year, according to data released by the State Bureau on Saturday. statistics.

That’s more than the 0.2 percent rise forecast by a Reuters poll of economists, and higher than the 0.1 percent rise seen in March.

Separately, China’s producer price index fell 2.5% from April last year, compared with a 2.8% decline in the previous month.

-Lim Hui Jie

11 hours ago

Stocks face key inflection point this week with April inflation data

Wednesday’s Consumer Price Index report will provide much-needed insight into where the Federal Reserve will take monetary policy from here.

Inflation has risen in recent months and has raised fears that price pressures will build steadily again. Central Bank Chairman Jerome Powell said last month that the Fed’s next move likely would not be a rate hike and reiterated a data-dependent approach. This sentiment has helped stocks which have found a stable footing thanks to a strong first quarter earnings season.

Nonetheless, Wednesday’s CPI will give investors a real test of whether rate hikes are truly off the table or not.

CNBC Pro subscribers can learn more here.

—Brian Evans

11 hours ago

Stock futures little changed

News Source : www.cnbc.com
Gn bussni

Sara Adm

Aimant les mots, Sara Smith a commencé à écrire dès son plus jeune âge. En tant qu'éditeur en chef de son journal scolaire, il met en valeur ses compétences en racontant des récits impactants. Smith a ensuite étudié le journalisme à l'université Columbia, où il est diplômé en tête de sa classe. Après avoir étudié au New York Times, Sara décroche un poste de journaliste de nouvelles. Depuis dix ans, il a couvert des événements majeurs tels que les élections présidentielles et les catastrophes naturelles. Il a été acclamé pour sa capacité à créer des récits captivants qui capturent l'expérience humaine.
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