Oil prices slide further as traders brace for supply increase July 15, 2021 Oil prices slid further on Thursday as traders prepare for a wave of supply to flood the market. Benchmarks WTI Crude and Brent Crude were down 1.01 per cent and 0.92 per cent respectively today. Read more: Opec+ end deadlock over oil supply policy, says source Prices slid two per cent yesterday after news broke [...]
US stocks muted as Powell moves to temper inflation fears July 14, 2021 US stocks were broadly flat on Wednesday morning after Fed Chair Jay Powell suggested that inflation could run hot in the coming months. The blue-chip S&P 500 edged up 0.08 per cent, while the Dow Jones added 0.01 per cent. The tech-heavy Nasdaq gained 0.02 per cent during the morning session. Read more: Powell: US [...]
PureGym mulling IPO as gym usage rebounds July 14, 2021 PureGym is considering reviving its plans for an initial public offering, as gyms across the UK rebound. In an update to bondholders earlier today, seen by City A.M., the no-frills gym chain said it was comparing its options for raising equity including, potentially, in the public markets. It is understood that the fitness chain is still [...]
Why China’s stunning vaccine surge could be good news for the world July 14, 2021 | City Talk Not only is the rapid roll-out of Covid-19 vaccinations in China good news for the domestic economy, but it could also potentially see a sharp increase in exports of treatments to other emerging markets (EM). That would help those EM that have so far lagged behind in the vaccination race. And the geopolitical dynamics could [...]
China’s crackdown on crypto continues as more mining projects shut down July 14, 2021 The cryptocurrency industry in China was further hit today as Anhui province said it would close all crypto mining operations due to energy consumption concerns. The province in east China will shut down the energy-intensive projects as part of a package of changes to address a power supply shortage. Cryptocurrency prices continued to drop overnight, [...]
Collective raises £6m with Silicon Valley NFX, amid growing demands for gig worker benefits July 14, 2021 Collection Benefits, a UK insurance tech startup, have raised £6m in a round led by a Silicon Valley venture fund, as the demand for insurance and benefits in the gig economy continues. The year-old insurance provider also announced the appointment of Pete Flint OBE, the co-founder of Lastminute.com and a general partner at NFX, as [...]
Inflation fears drive FTSE downwards at the open July 14, 2021 Higher-than-expected inflation numbers on both sides of the Atlantic saw the FTSE 100 drop sharply at the open this morning. The flagship index was down 0.59 per cent after half an hour of trading. Official figures released this morning revealed UK inflation hit 2.5 per cent in June, with analysts expecting that to increase. US [...]
US stocks jump despite surging inflation July 13, 2021 US stocks jumped on Tuesday morning despite data released today showing inflation in America rose at its fastest pace for 13 years. The blue-chip S&P 500 and the Nasdaq both hit record highs during the morning open, rising 0.12 per cent and 0.44 per cent respectively. Growth stocks helped to lift the indexes as they [...]
Revealed: The most-shorted UK stocks in the current volatile Covid-19 era July 13, 2021 New data from the London Stock Exchange and crunched by ETP provider GraniteShares shows the most-shorted UK stocks include some of the supposed "winners of lockdown": supermarkets and food delivery companies.
Bursting the bubble: Do widespread narratives about speculative bubbles stand up to the evidence? July 13, 2021 | City Talk According to popular narratives, episodes of market bubbles are replete throughout financial history. Some commentators argue that current valuation levels may reflect the emergence of bubble-like conditions. But what exactly is a bubble, and what does the evidence say? A new book published by the CFA Institute Research Foundation argues that more critical analysis is [...]