Checking out: Airbnb shares dive as insiders are allowed to sell following last year’s IPO May 17, 2021 Airbnb shares dropped by almost 6 per cent after insiders became free to sell their shares for the first time since the home rental firm’s IPO in December 2020. Today’s drop comes only days after Airbnb beat Wall Street expectations for first-quarter gross bookings and revenue on May 13, as speedy Covid-19 vaccinations and easing [...]
Wall Street slips as banking stocks and stronger pound weigh on FTSE 100 May 17, 2021 Wall Street opened lower this afternoon, reversing a strong recovery late last week as investors turned their attention back to inflation worries. The Dow Jones slipped 0.02 per cent and the S&P 500 opened lower by 0.09 per cent, while the tech-heavy Nasdaq dropped 0.46 per cent at the opening bell. It came after London’s [...]
City A.M. TV: Market Snapshot May 17, 2021 In today’s video we examine the question of whether or not Bitcoin provides any insight into the global equity market direction.
Can global cities still thrive after the Covid-19 crisis? May 17, 2021 | City Talk The Covid-19 pandemic has led to many changes in the way people live and work. With many forced to work from home during lockdown, some people are now questioning whether they need to live in the city in which they work. This has prompted much speculation in the media about the future of global cities [...]
FTSE 100 rebounds from five-week low while Wall Street extends recovery May 14, 2021 London’s FTSE 100 rebounded this afternoon as heavyweight financials stocks lifted the index after hitting a five-week low yesterday. The blue-chip index rose one per cent during afternoon trading, with software firm Sage adding 3.4 per cent after forecasting a year of growth towards the top end of its range. Read more: IPO: London commodities [...]
IPO: London commodities dealer Marex looks to float on LSE in £500m move May 14, 2021 London commodities dealer Marex looks to float on LSE in £500m move
FTSE 100 sinks to five-week low while tech shares drive Wall Street higher May 13, 2021 London’s FTSE 100 dropped sharply this afternoon, giving up yesterday’s gains amid fears of a rise in inflation and weak performance from heavyweight stocks. London’s premier index was down by 0.7 per cent in afternoon trading, dropping to 6,953.60 points – its worst price for almost a month. The FTSE 250 of midcap companies was [...]
Electric scooter startup Bird to go public in £1.6bn SPAC deal May 12, 2021 Bird Rides announced a merger with Switchback II Corp, a blank-cheque company, to go public in a deal that values the electric scooter company at £1.6bn. SPACs are listed companies that use the proceeds from an IPO to buy a private firm and take it public. The scooter rental company said the deal will be [...]
Why you shouldn’t try to time the top of the market May 12, 2021 | City Talk At the end of March, the S&P 500 index of US large companies was valued at 34 times its earnings over the past 12 months. This is more expensive than at the peak of the dotcom bubble at the end of 1999, when the figure was 31 times. And it’s a long way above the [...]
Brexit hit: City of London suffers £2.3 trillion derivatives loss in a single month May 11, 2021 The City of London suffered a loss of £2.3 trillion in a single month in its lucrative derivatives trading market, with Wall Street trading platforms the ones that benefitted. U.S. swap-execution facilities pulled in more trades across euros, pounds and dollars in March while London experienced an exodus compared to last July, while venues in [...]