Chasing Tesla: how traditional carmakers are revving up their electric vehicle production August 16, 2021 | City Talk Equities generally had a strong year in 2020, but few parts of the market could match the runaway share price gains of the pure electric vehicle (EV) makers. Tapping into investor (and day trader) demand for two popular themes – tech and sustainability – such companies became extremely highly sought after. US group Tesla is [...]
Wall Street smashes records yet again August 13, 2021 Wall Street opened higher today to breach record highs once again driven by a string of strong earnings reports. The S&P 500 came out of the blocks quickly to hit an all-time high, but fell back slightly to rise 0.06 per cent to 4,463.75 points in the early afternoon session. Similarly, the Dow Jones sped [...]
US stocks climb to record highs as inflation clip higher than expected August 11, 2021 US stocks climbed to record highs today as investors were boosted by data showing inflation growth in America may have peaked. The Dow Jones hit a record high today, surging 0.57 per cent to 35,465 points. The blue-chip S&P 500 also trailed higher, up 0.19 per cent to 4,444 points. However, the tech-heavy Nasdaq dropped [...]
US stocks lifted by infrastructure bill’s safe passage August 10, 2021 Wall Street opened higher this morning as investors were boosted by news that President Joe Biden’s $1 trillion infrastructure bill had safely passed through the Senate. The blue-chip S&P 500 edged up 0.17 per cent to 4,439 points, while the Dow Jones climbed 0.5 per cent to 35,278 points. Tech shares lost ground as investors [...]
Fresh UK SPAC regime comes into force today August 10, 2021 The City watchdog’s new regime overseeing special purpose acquisition companies, or SPACs, in the UK comes into force today. Under the new rules implemented by the Financial Conduct Authority, investors will be able to dispose of holdings in a SPAC before an acquisition is completed. Previously, trading in SPACs was suspended as soon as the [...]
Strategic asset allocation or how I learned to stop worrying and love dispersion August 10, 2021 | City Talk For decades, strategic asset allocation has been considered the driving force behind investment portfolio returns. But the old adage that allocation determines 90 per cent of performance is rapidly becoming outdated. During 2020 and 2021, we have seen how the world of investing is shifting from one in which declining interest rates drive beta performance [...]
Oil prices rebound after nursing heavy losses August 10, 2021 Oil prices recovered ground this morning after suffering sharp losses yesterday amid concerns surging Covid cases in China will hit global oil demand. Global benchmarks WTI and Brent Crude added 1.31 per cent and 1.04 per cent to reach $67.35 and £69.76 respectively. Yesterday, oil prices shed over four per cent at the height of [...]
Wall Street dragged down by falling airline stocks August 9, 2021 US benchmarks were dragged down by poor performances among airline stocks this morning as surging Covid cases dampens the outlook for the travel sector. The blue-chip S&P 500 dipped 0.08 per cent to 4,432 points, while the Dow Jones slid 0.24 per cent to 35,123 points. The tech-heavy Nasdaq fared better, jumping 0.19 per cent [...]
Chinese dairy manufacturer shares tumbled amid Beijing’s crackdown fears August 9, 2021 Infant formula milk makers have joined the growing list of stocks hurt by Beijing’s regulatory risk after state media urged supervision of milk powder marketing. Chinese state-run Xinhua Agency reported last Thursday that some experts have been concerned about the marketing of infant formula milk that made mothers choose milk powder over breastfeeding, urging the [...]
‘Code red’ climate report sends oil prices sinking August 9, 2021 Oil prices tanked on Monday morning driven by investors selling off holdings after the publication of a landmark report on the damaging effects of climate change signals “code red” for humanity. International benchmarks WTI and Brent Crude plummeted 4.1 per cent and 3.8 per cent respectively. A barrel of either benchmark costs well below $70. [...]