US stocks struggle for direction amid weakening economic outlook August 3, 2021 US stocks opened broadly flat on Tuesday morning as investors tempered trading activity amid a weakening economic outlook. While the Nasdaq dipped 0.34 per cent, the blue-chip S&P 500 edged 0.03 per cent higher and the Dow Jones added 0.18 per cent. The reinstating of Covid curbs in many states of America, including mandating mask [...]
SEC chief vows to crackdown on cryptocurrencies August 3, 2021 The new chief of the US’ financial markets watchdog has vowed to crackdown on cryptocurrencies as soon as possible. Speaking to Bloomberg, Gary Gensler, commissioner of the US Securities and Exchange Commission, said that he has instructed “staff to use all of our authorities anywhere we can” to improve oversight of crypto assets. Read more: [...]
London Stock Exchange traders hit by third Refinitiv outage today August 2, 2021 London Stock Exchange’s Refinitiv news and data platform Eikon experienced an outage of several hours today, the company said, its third such glitch this year. The company reported similar issues in April and June. An LSEG customer support representative said the issue which started mid-afternoon had mostly affected users in Asia and the Europe, Middle [...]
FTSE 100 gets week off to a strong start as Covid cases fall again August 2, 2021 The FTSE 100 rose 0.7 per cent today as UK Covid-19 cases continued to decline, in what was a strong start to the week for global markets. Buoyed by a raft of heavyweights, London’s premier index closed at 7,081.72, with the 7,100 barrier firmly in its sights. It was an even better day for the [...]
Medical cannabis company confirms £45m London SPAC listing August 2, 2021 Medical cannabis firm Hellenic Dynamics has confirmed that it will go public in London through a SPAC deal valuing the company at £45.2m. Through its reverse takeover deal with blank cheque vehicle UK SPAC Plc, the company will list on the LSE’s main market. Today’s announcement comes after City A.M. earlier this year revealed that [...]
China securities watchdog seeks closer cooperation with US after Didi crackdown August 2, 2021 The China Securities Regulatory Commission (CSRC) has said it will enhance communication with its US counterpart on overseas listing after US regulators tightened disclosure for Chinese companies. The Chinese securities regulator said it had noticed the US Securities and Exchange Commission’s (SEC) new disclosure requirements for Chinese companies’ listings. It added the two sides should [...]
What does China’s stock market meltdown mean for investors? August 2, 2021 | City Talk Chinese markets have hit headlines again in recent weeks. Geopolitical tensions surrounding trade remain, but market behavior and performance – particularly in the tech sector – has also come to the fore. We asked Tom Wilson, Schroders’ Head of Emerging Market Equities, what’s causing the upset. The Chinese government seems to be cracking down on [...]
AIM is ‘market of choice’ for large companies August 2, 2021 London’s junior market AIM is establishing itself as the exchange of choice for larger cap companies, according to new analysis published today. Accountancy group UHY Hacker Young said” “improvement in the overall quality of companies on AIM, partly achieved through more stringent quality control, is making AIM the stock market of choice for larger cap [...]
Wall Street dragged down by sinking Amazon shares July 30, 2021 US stocks fell sharply on Friday morning driven by shares in Amazon sinking after the EU slapped the firm with a record fine. The blue-chip S&P 500 dropped 0.51 per cent, while the Dow Jones and the Nasdaq 0.36 per cent and 0.66 per cent respectively. Shares in Amazon sunk as much as 7.1 per [...]
Pound on track for best week since December July 30, 2021 Pound sterling hovered near a one-month high against the dollar on Friday and was set to register its strongest week since December 2020. The reopening of the UK economy has fuelled consumer spending, while a drop in Covid cases over the last week has improved investor sentiment. Read more: Euro 2020 pushes retail sales above [...]