European Central Bank correspondent, Frankfurt
Marc's Feed
Aug 28, 2015

Moody’s cuts 2016 global growth forecasts

LONDON (Reuters) – Credit rating firm Moody’s cut its 2016 global economic growth forecasts on Friday, with China and United States both trimmed and Russia and Brazil seen staying in recession.

It was a surprise move from the firm, coming just 10 days since its last forecasts. It put average growth in the top 20 world economies at 2.8 percent on average, versus the 3 percent it had forecast previously.

Aug 27, 2015

Ukraine’s bondholders jump at debt restructuring deal

LONDON, Aug 27 (Reuters) – Ukraine’s bondholders expressed
relief on Thursday after the conflict-hit country offered them
more generous terms than expected in their long-running debt
restructuring talks.

Though they will take a 20 percent cut to the headline value
of their bonds and uncertainty remains around Russia, the pain
was offset by a relatively short 4-year extension before Ukraine
pays out and high 7.75 percent average coupon payments.

Aug 27, 2015

Stocks, FX rise and shine on China rebound, Fed signal

LONDON, Aug 27 (Reuters) – Emerging markets stocks and
currencies were in fight-back mode on Thursday, boosted by the
firmest signal yet that U.S. interest rates won’t go up next
month and a rebound in Chinese equities.

Investors bruised by sharp losses in the past days piled
into stocks with renewed confidence and sent MSCI’s benchmark
emerging market stocks index 2.5 percent higher,
putting it on course to top Tuesday’s best day in two years.

Aug 26, 2015

World shares sag as China jitters persist

LONDON (Reuters) – World shares sagged on Wednesday as investors feared fresh rate cuts in China may not be enough to stabilize its slowing economy or halt a stocks collapse that is wreaking havoc in global markets.

Europe’s main stock markets <0#.INDEXE>, which had surged on Tuesday after China’s moves, reopened 2 percent down as the jittery mood returned and sent investors back into safe-haven German and U.S. government bonds. [GVD/EUR/]

Aug 25, 2015

China rate cut give stocks biggest boost in two years

LONDON, Aug 25 (Reuters) – Emerging markets stocks saw their
biggest rise in two years on Tuesday after a rate cut from China
to try to stabilise its troubled markets sent investors on a
buying spree after seven days of back-to-back falls.

MSCI’s benchmark EM stocks index recovered almost
half of the 5 percent it had lost on Monday when worries about
China’s economic health had sent global markets into a panic.

Aug 25, 2015

Global stocks, dollar rebound but China smashed again

LONDON (Reuters) – Volatile global markets got some respite from the latest blood-letting on Tuesday as bargain hunters nudged up Asian and European stocks, though China, at the center of the rout, was smashed again.

The dollar and oil prices saw their first rises in five days and some of the positions in safe-haven bonds and currencies such as the yen and the euro were also cut as investors nervously dipped their toes back in the still choppy waters.

Aug 25, 2015

Stocks, dollar rebound but China smashed again

LONDON, Aug 25 (Reuters) – Volatile global markets got some
respite from the latest blood-letting on Tuesday as bargain
hunters nudged up Asian and European stocks, though China, at
the centre of the rout, was smashed again.

The dollar and oil prices saw their first rises in five days
and some of the positions in safe-haven bonds and currencies
such as the yen and the euro were also cut as investors
nervously dipped their toes back in the still choppy waters.

Aug 24, 2015

Alarm bells ring as China sinks, dollar tumbles

LONDON (Reuters) – Alarm bells rang across world markets on Monday as a 9 percent dive in Chinese shares and a sharp drop in the dollar and major commodities panicked investors.

European stocks opened more than 3 percent in the red after their Asian counterparts slumped to 3-year lows as a three month-long rout in Chinese equities threatened to get out of hand.

Aug 21, 2015

Emerging market bond insurance costs surge as rout bites

LONDON, Aug 21 (Reuters) – The cost of insuring swathes of
emerging market countries’ government debt against a default
were sitting at multi-year highs on Friday, as the global rout
in riskier assets continued to gather momentum.

Major worries about China’s health, a potential U.S. rate
hike and a slump in commodity prices are combining with some
difficult individual country politics to create a near perfect
storm for emerging market investors.

Aug 21, 2015

Grim China data caps worst week of year for world stocks

LONDON (Reuters) – World stock markets tumbled towards their worst week of the year on Friday and commodities got another kicking, as more alarming data from China sent investors scurrying to the safety of bonds and gold.

The data from China showed its giant manufacturing sector slowing at the fastest pace since the depths of the financial crisis in 2009, confirming the worries about its health that have preying on economist’s minds for months.