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Euronext Makes $712 Million Takeover Offer for Oslo Bourse

Euronext NV is making a 625 million-euro ($712 million) takeover offer for Oslo Bors VPS Holding ASA after winning an auction by some of the Norwegian stock exchange operator’s biggest shareholders. The owner of stock markets in Paris and Amsterdam approached the board of Oslo Bors at the weekend after securing the backing of 49.6 percent of the firm’s shareholders, Euronext Chief Executive Officer Stephane Boujnah said in a telephone interview. The company is offering 145 Norwegian kroner ($16.53) apiece for the remaining shares, according to a statement Monday. That’s ...

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European shares falter as worst year since 2008 fades away

European shares fell on Monday as worries over slowing economic growth and tighter monetary conditions kept the region’s equities on course for their biggest yearly loss in a decade Activity was thin, however, with many markets closed or trading for a half-day only before the Christmas holiday. By 0956 GMT, Britain’s FTSE 100 was down 0.6 percent, while France’s CAC <.FCHI> and Spain’s IBEX had eased 0.9 and 0.6 percent respectively. Germany’s DAX <.GDAXI> and Italy’s FTSE MIB <.FTMIB> were shut. “Markets still under pressure from last week’s more hawkish ...

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Asia’s Worst Currency Isn’t Stopping Bond Bulls From Pouring In

Foreign investors piling into South Korean bonds have made them the second-best performers in emerging Asia in the past six months. The coming week may give them more reason to keep buying. Seen as a haven from this year’s sell-off in emerging-market assets, the nation’s debt has drawn $45.6 billion from global funds this year. A weakening won — the currency is Asia’s worst performer this quarter — and a November rate increase by the Bank of Korea, its first in a year, have failed to deter overseas buyers. That’s ...

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China Is Said to Prioritize Capital Market Reform in Coming Year

Chinese regulators will focus on improving the legal framework of capital markets and reducing state intervention next year, according to an official with knowledge of the discussions. Authorities came to a consensus on these key aims for China’s financial markets during the annual Central Economic Work Conference, according to the person, who asked not to be named as the decision isn’t public. The leading role of the Financial Stability and Development Committee will also be emphasized, the person added. Any concrete steps China takes to create a better legal framework ...

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Oil and Stocks Are Locked Together in a Downward Spiral

For all the talk of OPEC supply cuts and surging shale production, oil’s biggest problem is panic over the economy — and the correlations show it. During the last oil price crash in 2014, the S&P 500 Index and Brent crude moved in opposite directions. Oil’s fall failed to prove much of a drag on U.S. equities and vice-versa, as represented by a strong negative correlation coefficient of .65 between the two assets. That’s changed during the commodity’s current collapse. Brent and the S&P are moving in tandem: The correlation ...

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Europe is biggest drag in slump in 2018 equity raising

European equity raising slowed sharply in 2018, making it the biggest drag on falling global activity, Refinitiv data showed on Friday, as political uncertainty and growth concerns made it harder to persuade investors to buy stock. Global equity capital markets’ (ECM) proceeds fell to $688 billion (£542.67 billion) in 2018 from $781 billion in the same period of 2017 according to data as of Dec. 17. “Political uncertainty across Europe has not helped, but the real surprise was the slowdown in European macroeconomic growth,” said Craig Coben, vice-chairman of global ...

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European funds cut equity holdings, hoard cash as growth fears rise – Reuters poll

European fund managers cut equity exposure to a six-month low and upped cash holdings at the end of a tumultuous year for financial markets, which have been increasingly rocked by concerns over the health of the global economy. Global stocks clawed back some of October’s hefty losses in November. But there was no Christmas cheer in store, with equities on track for losses of more than 7 percent in December and major indexes from Japan to China and Germany in bear market territory. A poll of 14 European asset managers, ...

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Asian Markets Log More Losses As Recession And Trade-war Fears Weigh

Nikkei on track to end year down 11%; Shanghai on pace for 24% decline Asian stocks fell further Friday after Wall Street slid on recession fears, with Chinese stocks on track to end 2018 as the world’s worst performing market, with a loss of around 24%. Trade tensions between the U.S. and China have also re-emerged as concerns for investors. While the world’s largest trading powers have agreed to meet next month for trade talks, on Thursday the U.S. charged two Chinese intelligence officers with state-sponsored hacking attacks and accused ...

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After Fed selloff, is a U.S. bear market next?

Did Jerome Powell just poke the bear? U.S. stocks took another body blow on Wednesday after the Federal Reserve raised interest rates again and the central bank chairman did not soften his tone about the outlook for further financial tightening to the degree investors had hoped. Now the question is whether Powell’s message that the U.S. economy should be strong enough to stand on its own without further assistance from the Fed will be the catalyst that tumbles stocks to bear market levels. “It takes away the idea that the ...

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China’s capital market has long-term investment value

China’s Financial Stability and Development Committee (FSDC), said on Thursday the nation’s capital market retains long-term investment value despite recent ructions. The FSDC’s office, which is based at the central bank, held a meeting with representatives from financial institutions including commercial banks, securities firms and insurance companies on Thursday, the central bank said in a statement. China will strengthen management of listed firms and reduce administrative intervention in transactions on capital markets, while also opening channels for asset management products entering into market, the statement from People’s Bank of China ...

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Markets suffer worst year since global financial crisis

Traders will be glad to see the back of 2018. Nearly $7 trillion has been wiped off world stocks, emerging markets have been trampled flat by a charging dollar and even gold and U.S. government bonds have lost money. A grisly combination of U.S.-China trade tensions, central banks turning off the money taps and cooling growth in former hot spots has wiped 10 percent off MSCI’s 47-country world stocks index — its first double-digit loss in any year since the 2008 global financial crisis. Many places have fared far worse. ...

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World stocks suffer as Fed heightens recession fears

World equity markets slipped on Thursday after the U.S. Federal Reserve dashed investor hopes of a more dovish policy outlook, worsening worries of a recession as signs grow that global economic growth is stuttering. Jitters over the Fed’s move to largely keep guidance for additional hikes over the next two years spread from Asia to Europe, where major indexes fell to their lowest in two years and investors flocked to the relative safety of government debt. European shares fell 0.9 percent, with bourses in Germany, Britain and France all hitting ...

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Disappointing Fed drags European shares back to 2016 levels

A disappointing rate outlook from the Federal Reserve dragged European shares down sharply on Thursday with several benchmark indexes hitting two-year lows on worries that tighter monetary conditions could further weigh on sluggish economic growth. The pan-European STOXX 600 <.STOXX> index fell 1.6 percent by 0815 GMT, while Britain’s FTSE 100 and France’s CAC <.FCHI> indexes fell 1.5-1.7 percent, having all hit their lowest levels since December 2016. After raising interest rates for the fourth time this year, the Fed signalled “some further gradual” rate hikes ahead, disappointing market expectations ...

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Billion-Dollar Fund Managers on What Could Calm Wild Market Ride

It’s the Fed. It’s the economy. It’s snowballing investor pessimism gone way beyond anything that is warranted by either. So say a quartet of money managers trying to assess how markets got so crazy and what it will take to calm them back down. No single thing explains the rout that has zapped $4.4 trillion from U.S. equity values, and no magic bullet is likely to stop it, they say. Still, a few things might dial down the overall velocity, among them an end-game for trade negotiations and a general ...

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World stocks and oil scramble higher after plunge

Global equity and crude oil markets attempted on Wednesday to claw their way out of a three-day long plunge that saw investors seek out the safety of bonds amid mounting pessimism over world growth. Oil’s spectacular fall – down almost 10 percent since last Thursday – and world stocks’ plunge to 19-month lows have prompted speculation the U.S. Federal Reserve might be done with tightening after its policy meeting later in the day. There was also some support from China which announced an additional $14.5 billion medium-term lending facility to ...

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