Chinese equities updates

Hong Kong’s stock market slumped on Monday in a decline that spread to European bourses as an escalating liquidity crisis at Chinese property developer Evergrande showed signs of spreading beyond the sector.

Chinese and Hong Kong property groups were at the centre of the market slide, falling to the lowest levels in half a decade amid rising angst over the fate of Evergrande, the world’s most indebted property developer.

The group faces obligations of more than $300bn to creditors and other

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© Reuters. Foot Locker: 50% Upside Potential

Wall Street is underestimating Foot Locker’s (FL) growth potential in the new athletic retail apparel landscape, according to Quo Vadis President John Zolidis. He sees the company trading 50 percent higher in twelve months from now. I am bullish on this stock.

“The Street is underestimating the benefits from changes in Nike (NYSE:) distribution and the environment post-Covid, and therefore estimates are too low,” he says. “We see upward revisions driving valuation expansion with a potential 50% gain over one year.”

Last month, Foot Locker (NYSE:) reported a net income of $430 million,

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Federal Reserve updates

Federal Reserve officials are expected to next week send a clearer signal about plans to begin phasing out pandemic-era stimulus as early as November as US consumers continue to power the economic recovery.

The policy-setting Federal Open Market Committee convenes on Tuesday for a two-day meeting that should shed light on the fate of the enormous bond-buying programme it put in place last year to stabilise financial markets and shore up the economy. 

The details will be accompanied by a fresh

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Newsletter: FT Weekend

Princess Diana called it the “moving carpet”. In the weeks after her death, others weren’t so forgivingly droll about the royals’ corgis. Here, went the theory, which mentioned the horses too, is a family that gushes over all creatures great and small, except humans.

Don’t think it lacks purchase outside England, this trope of the cynophile blue blood. “That’s the thing you gotta remember about Wasps,” says Gordon Gekko, shaking his glossed head in Wall Street. “They love animals.

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