Gas price surge forces industrial sites to close September 17, 2021 Two industrial sites that produce a combined 40 per cent of the UK’s fertiliser have been forced to halt operations due to recent record gas prices. The Times reported that CF Industries had shuttered its plants at Billingham in Teesside and Ince in Cheshire as a direct result of the price spikes. The closures came [...]
Rallying travel stocks lift London markets September 16, 2021 London’s FTSE 100 edged up today on a rally among travel stocks, helping to partly reverse yesterday’s poor performance. The capital’s premier index gained 0.16 per cent to hit 7,027.48 points, partly evening out losses registered on a choppy day on London markets yesterday. The likes of aerospace engineer Rolls Royce and British Airways parent [...]
Power cable fire sends electricity prices higher again September 16, 2021 UK energy prices have continued to surge after a fire yesterday knocked out a crucial power cable that can supply electricity to 1.4m homes. Day-ahead power prices climbed 19 per cent on the back of the incident, with the “interconnector” not expected to be repaired until March. Gas prices closed in on £2 a therm, [...]
Higher than expected inflation clip drags London markets down September 15, 2021 London’s FTSE 100 dipped today, driven lower by a higher than expected inflation clip in August fuelling concerns the Bank of England may rein in stimulus measures sooner than forecast. The capital’s premier index closed down 0.25 per cent to 7,016.49 points, while the mid-cap FTSE 250 finished 1.07 per cent to lower, dropping to [...]
Kremlin: Launch Nord Stream 2 to balance gas prices September 15, 2021 The Kremlin today said that a rapid start-up of the controversial Nord Stream 2 pipeline would help to correct sky-high gas prices across Europe amid a squeeze in supply. Spokesman Dmitry Peskov said: “Undoubtedly, the quickest launch of Nord Stream 2 would significantly balance out the pricing parameters of natural gas in Europe, including on the spot [...]
Five thought-provoking books we’ve read in 2021 September 15, 2021 | City Talk Book clubs aren’t just a way to while away a pleasant hour with friends as you discuss Jane Austen or Julian Barnes over a glass of wine. Our emerging market equities team has established a book club to seek investment insights from beyond the everyday sources. We hope it will spark discussion, and nurture a [...]
Socially responsible investing and performance: a long-term winner September 14, 2021 | City Talk Companies with stronger ESG ratings outperform, particularly in times of crisis, as we witnessed during 2020, says Coline Pavot, La Financière de l’Echiquier (LFDE)’s head of responsible investment research. Companies that rank well according to environmental, social and governance (ESG) criteria tend to outperform the average and have greater resistance to crises. This was confirmed [...]
Oil prices push back as effects of Hurricane Ida hit supply September 10, 2021 Global oil prices pushed past the $73 mark this morning as crude supplies tightened on the back of Hurricane Ida. Worldwide standard Brent crude rose 2.2 per cent to $73.02, while US benchmark West Texas Intermediate rose 2.4 per cent to $69.80. Since Ida made landfall in the US at the end of August, causing [...]
Mishcon de Reya partners back IPO plans as firm edges closer to listing September 10, 2021 Mishcon de Reya partners approved the law firm’s plans to go public on the London Stock Exchange, according to reports. Mishcon de Reya officials confirmed that at least three quarters of the partnership voted in favour of the planned initial public offering (IPO) of the firm, according to The Times. The law firm will be [...]
Which companies can help Europe achieve its “Fit for 55” plans? September 10, 2021 | City Talk Last month, the European Commission released its “Fit for 55” proposals. These set out how the European Union should reach its legally-binding target to cut net greenhouse gas (GHG) emissions to 55% below 1990 levels by 2030. That target will be an important milestone on the road to reach net zero emissions by 2050. The [...]