Oil be damned: Global demand for oil set to hit all-time high this year as China reopens January 18, 2023 Global oil demand will reach a record high this year, and rise by nearly 2m barrels per day this year, as China eases pandemic restrictions.
FTSE 100 close: Ocado drags London index away from record high January 17, 2023 London’s FTSE 100 edged away from its record high today, driven lower by traders ditching middle-class favourite and online supermarket Ocado after it said income has tanked. The capital’s premier index closed 0.12 per cent lower at 7,851.02 points, while the domestically-focused and mid-cap FTSE 250 index, which is more aligned with the health of [...]
LVMH: Shares in luxury giant hit record high amid warning it’s ‘firing last cartridge’ on back of China’s reopening January 17, 2023 Shares of luxury goods giant LVMH soared to a new record high of £703.35 (€795.7bn) this morning, bringing the company’s market capitalisation to £350bn. LVMH (Moët Hennessy Louis Vuitton) continues to thrive after China’s reopening at the start of the year proving to be a major boost for the company, which relies heavily on luxury [...]
Ocado: Annual revenue dives to £2.2bn but up on pre-pandemic level as retailer sees strong festive trade January 17, 2023 Online grocery retailer Ocado saw its revenue dive to £2.2bn in 2022, down 3.8 per cent from the previous year, but up by 40 per cent on pre-pandemic levels in 2019. The online grocery delivery giant managed to claw back some growth with postive Christmas and New Year trading updates. It’s rivals Tesco and Sainsbury’s [...]
FTSE 100 close: London index makes tracks to record high as world elite meet in Davos amid recession fears January 16, 2023 London’s FTSE 100 made more tracks toward its record high today, extending a bullish start to 2023. The capital’s premier index jumped 0.2 per cent to 7,860.08 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0.65 per cent to close above the 20,000 [...]
High time: Shares in AIM-listed medical cannabis firm Celadon get 10 per cent boost from regulatory go ahead January 16, 2023 Shares in an an AIM-listed firm Celadon have spiked after production of its high-THC product was approved by the regulator. Celadon, which focuses on the research, cultivation, manufacturing and sale of cannabis-based medicines, said production of its UK-made drugs had been registered by UK authorities today. The UK Medicines and Healthcare Products Regulatory Agency (UK [...]
Ashmore predicts rebound in taste for emerging market risk as assets tick £1bn upwards January 16, 2023 Emerging markets specialist Ashmore expects investors’ risk appetite to roar back amid slackening Chinese covid restrictions and a rebound in developing economies. In a trading update, London-listed Ashmore said total assets under management jumped two per cent to $57bn (£47bn) in the final three months of 2022, up from $56bn at the end of the [...]
Brits switch to social media for music as concerts go meta, says Brit Awards sponsor Mastercard January 16, 2023 Younger Brits are more likely to get their music recommendations from social media with TikTok and Instagram the most popular platforms. According to a new report by Mastercard 56 per cent of those aged 16-24 found their favourite music online. The report by the Brits Awards sponsor claims social media is overtaking physical concerts and [...]
It’s Blue Monday, So Is It Time For A New Job? January 16, 2023 January is such a tough month in so many ways: you probably got paid before Christmas, meaning that your bank balance isn’t looking too healthy right now––and payday is ages away. The weather is dire, those endorphins depleted during the festivities are struggling to retain equilibrium, you’ve broken all your resolutions. The icing on the [...]
Legal & General to vote against NewMed’s takeover bid for Capricorn Energy January 15, 2023 A fight over the future of Capricorn Energy is set to come to a head this week on the announcement that one of its top investors is set to vote against the oil and gas firm’s board in a push to veto NewMed Energy’s £3bn takeover deal. Legal & General Investment Management (LGIM) is set [...]