Steel industry to write off up to $70bn in assets if it keeps betting on coal, report says June 29, 2021 As the world gears up towards net zero, the global steel industry may have to write off up to $70bn in assets, a report has cautioned. The report by think tank Global Energy Monitor (GEM) warned the lofty figure is due to the industry continuing to build new blast furnaces using coal that will become [...]
London’s FTSE 100 weighed down by consumer and airline stocks June 28, 2021 London’s FTSE 100 dipped lower today, weighed down by losses in financial and consumer stocks, with banking stocks some of the biggest decliners of the month. Banks, industrials and mining stocks were down between 0.1 per cent and 0.7 per cent after leading the gains last week as investors sectors that look to benefit as [...]
32 reasons not to invest in the stock market June 28, 2021 | City Talk Wars, disasters, economic strife, political instability and now a pandemic – the last four decades have challenged and affected people’s attitude towards investing. In many cases they make an already tough decision to commit your money to investments even harder, leading some to not invest at all. Behavioural scientists have a name for this: loss [...]
Anglo American sells stake in Colombian coal mine for $300m June 28, 2021 Anglo American has offloaded its stake in a Colombian mine as the mining giant finalises its shift away from thermal coal. The London-listed company today said it has sold its 33.3 per cent interest in the Cerrejon joint venture to rival Glencore for $294m (£211m). “Today’s agreement marks the last stage of our transition from [...]
Exclusive: Ad tech firm that shuns cookies and has Amazon and D&G as clients to float on AIM June 27, 2021 Exclusive: AI marketing firm that shuns cookies and has Amazon and D&G as clients to float on AIM
Energy and mining stocks boost FTSE 100 June 25, 2021 London’s FTSE 100 climbed on Friday afternoon as surging commodity prices provided an uplift for energy and mining stocks. The capital’s premier index added 0.35 per cent to reach 7,134 in afternoon trading. The FTSE 100 looks set to register a weekly rise. Today’s gains built on yesterday’s session after investors reacted positively to the [...]
City A.M. TV: A market snapshot June 25, 2021 US equity markets have since bounced, recovering most of their losses.
Does low volatility mean a shock lies in store for investors? June 25, 2021 | City Talk Despite the many viral, economic, and geopolitical risks in the world today, volatility in asset markets has fallen to remarkably subdued levels. The VIX Index, the market’s so-called fear gauge, has recently fallen to a reading of around 16. This is below the average since 1991 of 19. The VIX reflects the amount of volatility [...]
UK credit score giant Clearscore heading for unicorn status after $200m Invus injection June 24, 2021 Clearscore, a free-to-use credit check company based in London, has reportedly accepted a $200m (£144m) investment from US-based fund Invus Opportunities. As reported by Sky News, the deal values the company at $700m (£503m), placing it on track for unicorn valuation. The company plans to use the funding to grow its staff numbers, product offerings [...]
Slick: Saudi oil exports more than doubled to $13.8bn in April June 24, 2021 Saudi Arabia’s oil exports rocketed 109 per cent year-on-year in April, worth an eyewatering $13.7bn, according to official data today. Oil exports made up 72.5 per cent of total exports from Saudi Arabia, the world’s top oil exporter – up from 64.8 per cent in April 2020 and 70 per cent in March. The country [...]