Tesco – time for a bargain buy? - YouTube: ""
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Saturday, 30 August 2014
JPMorgan Sees ‘Lehman Moment’ for Russia If Ukraine Deteriorates - Bloomberg
JPMorgan Sees ‘Lehman Moment’ for Russia If Ukraine Deteriorates - Bloomberg:
"Russia’s equity markets may face a “Lehman moment” if the Ukraine conflict deteriorates further, according to Alexander Kantarovich, head of research for JPMorgan Chase & Co. in Moscow.
“With the significant deterioration in the Ukrainian situation, markets may treat this as a Lehman-style shock,” Kantarovich wrote in an e-mailed report today. “Revisiting the post-Lehman lows would imply downside of 50 percent from an index perspective.”
Russia’s ruble-denominated Micex Index has fallen 6.6 percent this year. The stock gauge posted the worst monthly drop in July since 2012 as the U.S. and the European Union escalated sanctions targeting Russia’s $2 trillion economy after the downing of a passenger jet on July 17 over Ukrainian territory controlled by pro-Russian insurgents."
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"Russia’s equity markets may face a “Lehman moment” if the Ukraine conflict deteriorates further, according to Alexander Kantarovich, head of research for JPMorgan Chase & Co. in Moscow.
“With the significant deterioration in the Ukrainian situation, markets may treat this as a Lehman-style shock,” Kantarovich wrote in an e-mailed report today. “Revisiting the post-Lehman lows would imply downside of 50 percent from an index perspective.”
Russia’s ruble-denominated Micex Index has fallen 6.6 percent this year. The stock gauge posted the worst monthly drop in July since 2012 as the U.S. and the European Union escalated sanctions targeting Russia’s $2 trillion economy after the downing of a passenger jet on July 17 over Ukrainian territory controlled by pro-Russian insurgents."
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U.K. Wants EU to Block Russia From SWIFT Banking Network - Bloomberg
U.K. Wants EU to Block Russia From SWIFT Banking Network - Bloomberg:
"The U.K. will press European Union leaders to consider blocking Russian access to the SWIFT banking transaction system under an expansion of sanctions over the conflict in Ukraine, a British government official said.
The Society for Worldwide Interbank Financial Telecommunication, known as SWIFT, is one of Russia’s main connections to the international financial system. Prime Minister David Cameron’s government plans to put the topic on the agenda for a meeting of EU leaders in Brussels today, according to the official, who asked not to be named because the discussions are private.
“Blocking Russia from the SWIFT system would be a very serious escalation in sanctions against Russia and would most certainly result in equally tough retaliatory actions by Russia,” said Chris Weafer, a senior partner at Moscow-based consulting firm Macro Advisory. “An exclusion from SWIFT would not block major trade deals but would cause problems in cross-border banking and that would disrupt trade flows.”"
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"The U.K. will press European Union leaders to consider blocking Russian access to the SWIFT banking transaction system under an expansion of sanctions over the conflict in Ukraine, a British government official said.
The Society for Worldwide Interbank Financial Telecommunication, known as SWIFT, is one of Russia’s main connections to the international financial system. Prime Minister David Cameron’s government plans to put the topic on the agenda for a meeting of EU leaders in Brussels today, according to the official, who asked not to be named because the discussions are private.
“Blocking Russia from the SWIFT system would be a very serious escalation in sanctions against Russia and would most certainly result in equally tough retaliatory actions by Russia,” said Chris Weafer, a senior partner at Moscow-based consulting firm Macro Advisory. “An exclusion from SWIFT would not block major trade deals but would cause problems in cross-border banking and that would disrupt trade flows.”"
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Pakistan Army Chief Intervenes in Crisis as Stocks Surge - Bloomberg
Pakistan Army Chief Intervenes in Crisis as Stocks Surge - Bloomberg:
"Pakistan’s army chief intervened in the country’s political standoff by meeting the opposition leaders trying to oust Prime Minister Nawaz Sharif, a move that sent stocks surging.
General Raheel Sharif met Tehreek-e-Insaf chief Imran Khan and cleric Tahir-ul-Qadri in Islamabad yesterday. General Sharif met with the prime minister for the second time in two days as the premier sought the military’s help in ending two weeks of protests. The two are not related.
The two sides bickered over how the army entered the fray. Sharif told Parliament today that Khan and Qadri sought the intervention of the military, while Qadri said today that Sharif had made the request and that the army was reluctant to get involved."
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"Pakistan’s army chief intervened in the country’s political standoff by meeting the opposition leaders trying to oust Prime Minister Nawaz Sharif, a move that sent stocks surging.
General Raheel Sharif met Tehreek-e-Insaf chief Imran Khan and cleric Tahir-ul-Qadri in Islamabad yesterday. General Sharif met with the prime minister for the second time in two days as the premier sought the military’s help in ending two weeks of protests. The two are not related.
The two sides bickered over how the army entered the fray. Sharif told Parliament today that Khan and Qadri sought the intervention of the military, while Qadri said today that Sharif had made the request and that the army was reluctant to get involved."
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