06 August – 10 August

06 August

Italian bond prices climbed in early trading on Monday, following the latest debt buyback operation carried out by the national treasury after a decline on Friday.

Russian oil company Rosneft has approved a $2bn share buyback programme, as the state-controlled major seeks to boost its attractiveness to investors.

Shares in IWG, the world’s largest serviced office group, dropped by nearly a quarter on Monday after the company ended takeover talks with investors clamouring to buy the WeWork rival.

Turkey’s financial markets sustained another day of heavy selling on the heels of a bruising week amid mounting investor unease.

07 August

Germany is to increase its powers to block foreign investments by significantly lowering the threshold for deals that can be subject to ministerial veto, in a further sign of growing protectionist sentiment towards Chinese acquisitions.

Pandora, the Danish jeweller, dropped by a fifth on Tuesday after it reduced its outlook for 2018 sales growth and cut its forecast for a key profit margin.

Dell Technologies released a rosy growth forecast late on Monday as the PC maker tries to convince investors to back a deal that would see Michael Dell’s company return to public markets four years after it went private.

Asia equities were broadly higher on Tuesday after US stocks neared a record high, while the pound hovered at an 11-month low on concerns over Brexit.

08 August

Saudi Arabia is selling Canadian assets as the kingdom escalates its response to Ottawa’s criticism of the arrest of a female activist.

Snapchat’s daily active user count fell in the second quarter, after a botched redesign and intensifying competition from Facebook, marking the first such decline in the picture messaging app’s seven-year history.

Samsung has announced a $160bn three-year investment in new technologies, with the aim of ensuring profitability in the face of stiff competition from Chinese rivals.

09 August

Consumer inflation in China nudged higher in July as the price of non-food items rose while growth in producer prices slowed for the first time since March.

Stock markets were mostly higher in Asia trading as major benchmarks shook off an early tumble by energy stocks, prompted by a fall by crude prices on Wednesday.

Thyssenkrupp posted a net loss in the third quarter but said that with sales and orders each growing by 7 per cent it could “unlock” potential in the years ahead.

Ikea opened the doors of a 400,000-square-feet store in southern India on Thursday morning, the culmination of a 12-year struggle to set up shop in a market that the Swedish furniture group sees as one of the world’s most promising growth opportunities.

10 August

Japan has avoided a technical recession in the second quarter of 2018, with preliminary numbers showing the economy has returned to robust growth.

For the first time in several years bond salesman Watarau Hirano was at work in Tokyo at around 6am. It was a week before the Bank of Japan’s July meeting and speculation that officials would begin unwinding their ¥80tn-a-year stimulus plan had delivered a rare jolt to the dormant Japanese bond market. Over the next few days, the yield on the 10-year government bond had notable swings, triggering three hasty interventions by the BoJ.

Yelp shares were on track for their best day since 2012 after the company late on Wednesday lifted its full-year outlook and posted upbeat quarterly results.

Fonterra Cooperative Group cut the price it intends to pay farmers for milk and issued a profit warning on Friday, sending shares in the world’s biggest dairy exporter down to near three year lows.