Wall Street scales to yet more record highs after Powell signals Fed will taper stimulus this year August 27, 2021 US markets were propelled to yet more record highs today after the chair of the US Federal Reserve indicated the central bank may start to wind down stimulus measures this year. The S&P 500 touched a record high today, before paring back slightly to rise 0.90 per cent to 4,510.49 points during early afternoon trading. [...]
Oil prices climb on suppliers switching off production ahead of storm hitting Gulf of Mexico August 27, 2021 Oil prices jumped today and are set to post huge gains for the week as energy suppliers shut off production in the Gulf of Mexico in preparation of a storm hitting the area on the weekend. International benchmarks WTI and Brent Crude rose 1.85 per cent and 1.62 per cent to $66.87 and $72.22 respectively. [...]
Has Covid actually mattered to financial markets? August 27, 2021 | City Talk The Covid-19 pandemic has clearly affected our daily lives and the well-being of the global economy. But the impact on financial markets has been less straightforward. Firstly, equities appear to have looked through the economic consequences of the virus. Last year, the Covid-19 crisis triggered one of the deepest recessions in history which saw global [...]
FTSE 100 slides to reverse four day winning streak August 26, 2021 The FTSE 100 fell today after four straight sessions of gains as a clutch of miners and industrial heavyweights weighed on London’s premier index. The blue-chip index closed down 0.35 per cent at 7,124.98 points, with miners dragging the FTSE down. Having hit record highs yesterday amid a surge of takeover activity, the FTSE 250 [...]
Rallying retail stocks lift FTSE 250 to fresh record high August 25, 2021 A rally among retail and consumer goods stocks drove the mid-cap FTSE 250 to a fresh record high today. The domestically-focused mid-cap index pulled back slighlty from morning gains that saw it reach a new summit, but it registered its highest closing score ever, up 0.42 per cent today to 23,986.37 points. Over the last [...]
Relaxation of Indian listing regime to boost flotations on London markets August 25, 2021 Flotations on London markets are set to rise sharply, driven by a flood of Indian companies listing in the capital, according to the chief of a leading Indian investment firm. JPIN VCATS’ founder, Nayan Gala, expects India’s booming startup scene to take advantage of a relaxation to the country’s overseas listing rules. “The UK will [...]
FCA says it cannot supervise crypto exchange Binance effectively August 25, 2021 UK Financial Conduct Authority (FCA) has admitted that it is “not capable” of effectively supervising Binance, the world’s largest crypto exchange by trade volume in a statement published today. In a supervisory note the watchdog today reiterated its concerns over Binance’s products, which allow consumers to take supercharged bets, and added that the crypto exchange [...]
What does Meggitt’s bid premium tell us about UK shares? August 25, 2021 | City Talk Have you ever wondered why there has been such a marked pick-up in the amount of UK businesses that have been bid for in recent years? This year is no exception, and has been an extremely active one, with a record number of deals in the first half of 2021. And there is no sign [...]
Just Eat and ITV set to be booted from FTSE 100, while Morrisons and Meggitt could be added August 25, 2021 Takeaway delivery service company Just Eat Takeaway.com is set to be booted from the FTSE 100 after the index’s watchdog ruled it was a Dutch rather than a British company. FTSE Russell, the global index provider that recommends which listed companies should join or be removed from London’s premier index, ruled that Just Eat should [...]
Global markets rally as Fed taper fears ease August 24, 2021 Global markets rallied today, driven by expectations that the US Federal Reserve will outline its plan to rein in the wave of monetary stimulus unleashed in response to the Covid crisis at Jackson Hole this week receding. The blue-chip S&P 500 rose 0.29 per cent to 4,492.46 points in early afternoon trading, while the Dow [...]