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New cross-border stock link widens access to China's Nasdaq

New cross-border stock link widens access to China's NasdaqTrading began Monday on a new cross-border stock link between Hong Kong and the neighboring Chinese city of Shenzhen, widening access to China's markets for global investors. The long-awaited Shenzhen-Hong ...

Asian markets slip as euro falls to 20-month low post Italian referendum

Asian markets slip as euro falls to 20-month low post Italian referendumAsian stock market indices were trading lower on Monday (5 December) as the euro declined to a 20-month low following a referendum held in Italy to amend its constitution.

Wall Street stock futures and euro both fall following Italy referendum result

Wall Street stock futures and euro both fall following Italy referendum resultThe euro and US equity index futures both fell in the wake of Italian prime minister Matteo Renzi's resignation after the referendum over his proposals for constitutional reform. The euro dropped to its lowest level for 20 months shortly after Renzi conceded he had lost the constitutional referendum. S&P 500 e-mini futures were down 0.3% shortly after electronic trading resumed on Sunday evening (4 December) paring some losses after initially falling 0.5%, the agency said, adding this might mean Wall Street will start the week on a shakier footing after stumbling last week for the first time since the 8 November US election.

Shenzhen-HK stock link lets foreigners access China's booming tech firms

The link comes two years after regulators approved the Shanghai-Hong Kong stock connect scheme and extends China's efforts to open up its vast capital markets even as it struggles to enforce curbs on speculative money that was blamed for triggering last summer's stock market crash. The Shenzen opening - hobbled by delays of almost a year - will finally connect all of China's stock markets, which with a combined market cap of over $5 trillion serves up plenty of investment opportunities for foreigners and speculators.

Wall Street stock futures fall after Italy referendum

A man sits on a marble wall as pedestrians walk on the streets in front of the New York Stock Exchange in New YorkSuch a result would throw his future into doubt and open the door to renewed political instability in Italy. S&P 500 e-mini futures were down 0.5 percent shortly after electronic trading resumed on Sunday evening, signaling Wall Street could start the week on a shakier footing after stumbling last week for the first time since the U.S. election. Major Wall Street indexes had previously hit a series of record highs over the past three weeks in the wake of Donald Trump's victory in the U.S. presidential election, as investors have rotated into sectors expected to benefit from campaign promises of tax cuts, infrastructure spending and bank deregulation.

Fed official stands by Wall Street reforms, says must complete work

New York Fed President William Dudley takes part in a panel convened to speak about the health of the U.S. economy in New YorkThe United States "absolutely must" complete unfinished work ending the too-big-to-fail bank problem that helped plunge the global economy into recession eight years ago, an influential Federal Reserve policymaker said on Saturday. Dudley's comments, to a Group of 30 meeting of top world regulators, came a day after another powerful regulator at the U.S. central bank, Daniel Tarullo, also warned against "backsliding" after years of implementing the landmark 2010 Dodd-Frank financial-reform law. Challenges especially remain in regulators safely and smoothly handling the hypothetical failure of a massive bank with operations in multiple jurisdictions, Dudley said.

S&P holds South Africa's rating at BBB-, downgrades local debt

A view shows the Standard & Poor's building in New York's financial districtBy Mfuneko Toyana and James Macharia JOHANNESBURG (Reuters) - Standard & Poor's downgraded South Africa's local debt by one notch to BBB on Friday but kept its sovereign credit rating unchanged at BBB-, one level above "junk" status, while saying the economy was still struggling. S&P retained its negative outlook on the rating. A cut would take South Africa below investment grade, pushing its bonds out of global indices and preventing institutional investors from buying its debt.

Wall Street Week Ahead - Small banks rally pauses but may not be over yet

Traders work on the floor of the NYSE in New York CityBy Sinead Carew and Chuck Mikolajczak NEW YORK (Reuters) - The rally in regional U.S. bank stocks that followed last month's election of Donald Trump may not be over, but investors may have to wait for policy to take shape for the massive move to extend further. The S&P 600 index of small-cap banks has surged more than 20 percent since Trump's surprise Nov. 8 victory, while their large-cap peers on the S&P 500 index have jumped over 17 percent. Smaller lenders could potentially add as much as 40 percent to their fourth-quarter 2017 earnings if Trump's promises of tax cuts and regulatory changes materialise, according to Sandler O' Neill analyst Brad Milsaps.

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