Rolling coverage of all the day’s events, including reaction to Beijing’s stimulus move and the latest German business sentiment survey 9.02am GMT SHARES IN FRENCH CARMAKER PEUGEOT ARE DOWN 2% THIS MORNING, AFTER REPORTING A 4.4% DROP IN SALES IN CHINA AND SOUTH EAST ASIA. 8.55am GMT ADVERTISING TITAN WPP IS AMONG THE BIGGEST FALLERS IN LONDON, DOWN AROUND 2%, DESPITE REPORTING A 3.3% RISE IN NET SALES IN THE LAST SIX MONTHS. Country specific slowdowns in China and Brazil and geopolitical issues remain top of business leaders’ concerns. The continuing crisis in the Ukraine and consequent bilateral sanctions, principally affecting Russia, continued tensions in the Middle East and North Africa and the risk of possible exits from the European Community, driven by further political and economic trouble in Greece, top the agenda. If you are trying to run a legacy business, at one end of the spectrum you have the disrupters like Uber and Airbnb and at the other end you have the cost-focused models like 3G in fast moving consumer goods, and Valeant and Endo in pharmaceuticals, whilst in the middle, hovering above you, you have the activists led by such as Nelson Peltz, Bill Ackman and Dan Loeb, emphasising short-term performance. Not surprising then, that corporate leaders tend to be risk averse. Continue reading...
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