Nasdaq and S&P 500 see the biggest single-day gain in two weeks
Choice is between democratic openness and parasitical elites having their way
Ramaphosa gave the Special Investigating Unit the green light to investigate allegations against the two boards earlier in August
The party has decided there should not be a cooling-off period as provided for in the Electoral Amendment Bill
Evraz is under sanctions by the UK and EU after Russia’s invasion of Ukraine
The improved sentiment is a result of increased merchandise export and import volumes and more new vehicles sold, Sacci report says
Emergence from EU’s enhanced surveillance framework will allow the country greater freedom in making economic policy
Fiery hooker comes in as coach Jacques Nienaber reshuffles front row for All Blacks showdown
Now more than ever, there are tangible reasons to believe that Africa’s time is now as major firms invest in African brands, from music and art to fashion
London — Tremors in tech stocks spread to Europe on Wednesday, with weaker metals prices also tripping up a rally in world stocks which had taken them to record highs.
Investors concerned about high valuations took the top off the tech sector, where stocks such as Facebook, Alphabet, Tencent and Alibaba have reached prices some describe as "eye-watering".
Europe’s main index of stocks tumbled 0.7%, led by chip makers which have been a crucial driver of growth in the sector and seen stellar share price gains this year.
Ken Hsia, European equities portfolio manager at Investec Asset Management, said he had shifted positioning this year from tech into other sectors, including financials, which he thought would gain from higher yields and fiscal shrinking. "Their valuations needed something more heroic in terms of the earnings growth they were reporting, and we sold some and rotated that into other parts of the market," he said.
Another negative for the tech sector was a detail of the U...
A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email firstname.lastname@example.org or call 0860 52 52 00. Got a subscription voucher? Redeem it now
Would you like to comment on this article? Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.