Stock markets resilient following terror attacks... Credit Suisse cuts 2,000 global markets jobs... FinTech refocus away from payments to investment management...
Stock markets resilient following terror attacks
Global stock markets have rebounded following the terrorist attacks in Belgium. Wednesday has seen thin trade ahead of the Easter holidays and Asian markets have closed with narrow losses, except Shanghai. Analysts say that the markets have largely recovered from an earlier move towards safe havens.
European markets have also shown strength in the face of the Brussels atrocity and are currently trading higher.
Wall Street and Toronto are expected to open flat.
Credit Suisse cuts 2,000 global markets jobs
Restructuring at Credit Suisse has been accelerated and the bank has announced 2,000 job losses in its global markets division. The cuts are in addition to 4,000 already announced and will save the division more than $1 billion by 2018. The firm says that its revenues for the first quarter of 2016 may be as much as 45 per cent lower amid weak trade.
FinTech refocus away from payments to investment management
The financial technology space is refocusing on wealth and asset management rather than payment solutions according to a new report. PwC and Startupbootcamp found that more than half of the tech start-ups that were in the final cohort of Startupbootcamp’s 2015 program were focused on the investment management industry. The report highlights that the sector has seen relatively low disruption but that the FinTech firms are interested in driving down fees.
Global stock markets have rebounded following the terrorist attacks in Belgium. Wednesday has seen thin trade ahead of the Easter holidays and Asian markets have closed with narrow losses, except Shanghai. Analysts say that the markets have largely recovered from an earlier move towards safe havens.
European markets have also shown strength in the face of the Brussels atrocity and are currently trading higher.
Wall Street and Toronto are expected to open flat.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 17,582.57 (-0.23 per cent) | +5.79 per cent | -3.01 per cent |
| TSX Composite | 13,493.49 (-0.50 per cent) | +5.72 per cent | -9.79 per cent |
| Europe (at 5.30am ET) |
|||
| UK FTSE | 6,201.27 (+0.14 per cent) | +4.01 per cent | -11.88 per cent |
| German DAX | 10,074.13 (+0.84 per cent) | +6.98 per cent | -15.31 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,236.09 (+0.32 per cent) | +4.75 per cent | -18.53 per cent |
| Japan Nikkei | 17,000.98 (-0.28 per cent) | +5.91 per cent | -13.94 per cent |
| Other Data (at 6.30am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 41.46 (-0.79 per cent) |
41.07 (-0.92 per cent) |
1233.60 (-1.20 per cent) |
U$0.7643 |
| Aus. Dollar |
|||
| U$0.7582 | |||
Credit Suisse cuts 2,000 global markets jobs
Restructuring at Credit Suisse has been accelerated and the bank has announced 2,000 job losses in its global markets division. The cuts are in addition to 4,000 already announced and will save the division more than $1 billion by 2018. The firm says that its revenues for the first quarter of 2016 may be as much as 45 per cent lower amid weak trade.
FinTech refocus away from payments to investment management
The financial technology space is refocusing on wealth and asset management rather than payment solutions according to a new report. PwC and Startupbootcamp found that more than half of the tech start-ups that were in the final cohort of Startupbootcamp’s 2015 program were focused on the investment management industry. The report highlights that the sector has seen relatively low disruption but that the FinTech firms are interested in driving down fees.
