The $10-trillion stock rally gets a reality check from slow growth

economictimes | March 11, 2019

The $10-trillion stock rally gets a reality check from slow growth
A $10 trillion global stock rally is showing signs of fragility, and you can blame the economy.
Both the American and European benchmarks posted their biggest weekly losses since the darkest days of December’s sell-off, with the S&P 500 dropping 2.2 per cent. While the week ended with the European Central Bank’s dovish turn and President Donald Trump predicting a “very big spike” in US markets once a trade deal with China is reached, stock declines were a sign that after a sharp two .. Blame macro. It’s nothing new to bond traders, but as positive catalysts from a pause in US tightening to trade optimism look increasingly priced in, the deteriorating economic picture has become harder to ignore. US jobs data missed consensus estimates by a wide mark on Friday, plunging to the weakest in more than a year. “A kind of trade deal will support the market, but once the deal has been announced with all details, market participants will re-focus on PMIs and corporate earnings again,” said Petra Pflaum, co-head of EMEA equities at DWS Group GmbH, which oversees the equivalent of about $744 billion. “Global indicators have been weaker than expected, and that’s raising alarm bells.”

Spotlight

Amit Sheth, Vice Chairman, Aurionpro Solutions talks from the sidelines of Prabhudas Lilladher Small & Midcap Conference and also about the company's quarterly earings


Other News
FINTECH

Currencycloud Will Be Acquired By Visa

Visa, Currencycloud | July 23, 2021

Visa announced today that it has entered into a definitive agreement to purchase Currencycloud, a worldwide platform that enables banks and fintechs to provide innovative foreign currency solutions for cross-border payments. Currencycloud is valued at £700 million, including cash and retention incentives, as part of the acquisition, which builds on the two firms' existing strategic cooperation. The financial consideration will be decreased by Visa's existing ownership of Currencycloud's outstanding stock. Currencycloud's cloud-based platform provides a comprehensive set of APIs that enable banks and financial service providers to provide currency exchange...

Read More

FUNDING

Soldo, A Spend Management Fintech, Has Closed A Record $180 Million Series C Round

Soldo | July 22, 2021

Soldo, the leading European pay and spend automation platform, today announced the completion of a $180 million Series C investment round, a European record in the spend management category. Temasek, a significant global investor headquartered in Singapore, led the funding. Sunley House Capital, Advent International's crossover fund, and Citi Ventures are among the new investors in the round, which also includes debt funding from Accel, Battery Ventures, Dawn Capital, and Silicon Valley Bank. Goldman Sachs served as Soldo's exclusive placement agent for the transaction. Despite the adverse macroeconomic situation, this investment follows a 4x increase in...

Read More

FINANCIAL MANAGEMENT

BlackLine and Kybria, Collaborate To Accelerate Bank Connectivity

BlackLine | July 21, 2021

BlackLine, Inc., a leader in accounting automation software, and Kyriba, a global leader in cloud-based finance and IT solutions, announced today that they are collaborating to streamline the digitalization of the Office of the CFO and improve collaboration between Finance and Treasury departments. Through its integrated solutions, the collaboration provides enhanced capabilities for mutual customers by accelerating bank connectivity, improving cash visibility, and allowing more automation within the financial close and accounts receivable processes. Finance and Treasury leaders need their technology solutions to operate more effectively across both the Finance and Accounting ...

Read More

FINANCIAL MANAGEMENT

Bill.Com Has Agreed To Buy Invoice2go, A Leader In Accounts Receivable Software

Invoice2go | July 20, 2021

Bill.com, a leading provider of cloud-based software that simplifies, digitises, and automates complex back-office financial operations for small and medium-sized businesses (SMBs), announced today that it has signed a definitive agreement to acquire Invoice2go for approximately $625 million in stock and cash. Invoice2go is a major provider of mobile-first accounts receivable (AR) software that enables small businesses and freelancers to expand their client base, manage invoicing and payments, establish their brand, and much more. Invoice2go provides a huge global customer base of small businesses from headquarters in Sydney, Australia and Palo Alto, California. The acquisitio...

Read More

Spotlight

Amit Sheth, Vice Chairman, Aurionpro Solutions talks from the sidelines of Prabhudas Lilladher Small & Midcap Conference and also about the company's quarterly earings

Resources

Events