Oil prices rise as as output cut hopes offset Suez Canal reopening March 29, 2021 Oil prices rose nearly one per cent today as hopes that Opec+ will hold output cuts reversed an earlier slump linked to the reopening of the Suez Canal. Futures had dropped earlier today after container ship Ever Given, which had grounded in the Suez Canal and blocked the waterway for almost a week, was refloated. [...]
Investment trusts beat dividend drought with record payouts March 29, 2021 As companies across the globe slashed payouts during the pandemic investment trusts beat the drought by raising dividend payments to record levels. Investment trusts dished out an extra £87bn in dividends last year, equivalent to a 4.2 per cent annual increase. Between April and December 2020 more than three quarters of trusts investing in equities [...]
Lord Hill: I’m no cheerleader for Spacs but UK should leave door open March 25, 2021 Lord Hill, who recently published a review into London’s listing rules, has said he recognises concerns over Spacs but fears the UK may regret paying attention to the vehicles in a few years time. Special acquisition companies – Spacs – have risen to prominence during the pandemic in the US and in parts of Europe. [...]
GameStop shares jump a third on ‘meme stock’ rally March 25, 2021 Shares in video-game retailer GameStop rose a third today as the firm recouped the losses it made earlier this week. The firm is one of several so-called “meme stocks” popular with Reddit retail investors that have made rapid gains today. Headphone maker Koss and cinema chain AMC have also seen big gains as the wallstreetbets [...]
City A.M. TV: Daily Market Snapshot (video) March 25, 2021 Risk aversion continued to work its way through global financial markets yesterday.
Uncovering Japan’s hidden gems March 25, 2021 | Sponsored Chern-Yeh Kwok, manager of the Aberdeen Japan Investment Trust, says there is real value in Japanese markets, but it is often overlooked by investors. Japanese companies are used to dealing with a tough backdrop and their natural caution served them well in 2020 The Japanese market thrived amid widespread volatility last year, rising 16% Japanese [...]
Private markets: the quest for diversification March 25, 2021 | Sponsored By Nalaka De Silva, Investment Manager, Aberdeen Diversified Income and Growth Trust plc Institutional investors have long thought of private markets as a way to boost returns. But the recent challenging economic conditions have further enhanced the role that private market investments can play in portfolios. In particular, investors are now relying on private markets [...]
City A.M. TV: Daily Market Snapshot (video) March 24, 2021 The rotation out of the recent winners (especially the ‘reflation trades’) continued yesterday. In particular, the oil price was sharply lower (-6%); bond yields continued to ease, with the US 10 year yield off again (by 6bps); and the Russell 2000 was notably weak (-3.6%, i.e. given its ‘reflation’ and energy exposure). On this occasion, [...]
Can China really become carbon net zero by 2060? March 24, 2021 | City Talk At the UN General Assembly in September 2020 China’s President Xi Jinping pledged that the country would become net zero by 2060. This was a surprise move that has been hailed as a significant step forward in the global effort to address the Climate Crisis, given that China is responsible for around 30% of global [...]
Wall Street opens in the red ahead of Fed chair testimony March 23, 2021 Wall Street ticked into the red this morning as energy and travel stocks slipped, while investors awaited remarks from Federal Reserve chair Jerome Powell on the health of the US economy. Powell will join US Treasury secretary Janet Yellen to provide testimony to US politicians in Congress later today. He is expected to say that the [...]