Wall Street rally lifts tech stocks in latest signal US inflation is cooling, now eyes turn to Fed rate decision April 14, 2023 A rally on Wall Street on Thursday lifted stocks to their highest level in almost two months following the latest sign that inflation continues to cool. The S&P 500 rose 1.3 per cent after a report showed inflation at the wholesale level slowed last month by more than expected. The Dow Jones Industrial Average gained [...]
FTSE 100 close: London index squeezes out gain as UK economy unexpectedly flatlines in February April 13, 2023 London’s FTSE 100 nudged higher today after fresh figures showed the UK economy unexpectedly stalled in February, while Tesco clocked decent gains despite posting a big profit slump. The capital’s premier index edged 0.24 per cent higher to close at 7,843.39 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the [...]
I want to be a part of it: London-broker Marex weighs up New York for potential IPO April 13, 2023 A record set of results for London-based commodities broker Marex has revived the prospect of an initial public offering for the firm - but bosses say they may be eyeing New York as a destination.
FTSE 100 close: US inflation boost runs out of steam as De La Rue tumbles a third April 12, 2023 A sudden boost to London’s FTSE 100 from better than expected US inflation numbers ran out of steam toward the end of today’s trading session, although the premier index still notched gains. The FTSE 100 jumped 0.5 per cent to close at 7,824.83 points, while its mid-cap counterpart, the FTSE 250, which is more responsive [...]
UK takeover bids tumbled amid banking crisis fears – as private equity firms smell bargains April 12, 2023 Takeover attempts in the UK tumbled sharply in the first three months of the year as fears of a global banking crisis roiled markets and spooked the City’s dealmakers.
FTSE 100 close: Glencore and Rio Tinto power London index upwards despite downbeat IMF projections April 11, 2023 London’s FTSE 100 kicked off a shortened trading week in robust fashion today, lifted by miners scaling higher despite the International Monetary Fund (IMF) warning the global economy is on course to suffer a sharp slowdown over the coming decade. The capital’s premier index jumped 0.57 per cent to 7,785.73 points, while the domestically-focused mid-cap [...]
New investment trust plots £100m IPO in boost for London April 11, 2023 A new investment trust has revealed plans for a £100m float on the London Stock Exchange today in a boost to the capital’s markets after a barren start to the year. Ashoka WhiteOak Emerging Markets Trust announced this morning that it would list a new investment vehicle that to back quoted firms that provide exposure [...]
Saudi Arabia maintains crude supply to Asian refiners despite OPEC+ cuts April 10, 2023 State oil giant Saudi Aramco will supply full crude contract volumes loading in May to several North Asian buyers.
Wall Street falls as recession fears rise after jobless claims climb April 6, 2023 Wall Street’s main indexes fell on Thursday as latest labour market data pointed to slowing economic growth due to rapid interest rate hikes, with risk-wary investors looking forward to monthly jobs data for a clearer picture of the economy. Initial jobless claims came in ahead of expectations to a seasonally adjusted 228,000 for the week [...]
FCA shuts down Wealthtek over ‘serious regulatory issues’ April 6, 2023 The City watchdog has moved to shut down financial advisor Wealthtek and police have arrested one individual after “serious regulatory and operational issues” were uncovered at the firm.