Treasury tremors: how does the current sell-off compare with past episodes? April 16, 2021 | City Talk US Treasuries have seen the second worst start to a year and third worst quarter in 50 years. It is another eye-catching development amid what have been extreme conditions in markets and the economy over the past year. Bond markets have seen particularly unusual circumstances, with yields falling ever lower and an increasing number of [...]
Grab considers Singapore listing after US SPAC merger April 16, 2021 Ride hailing and food delivery firm Grab is reportedly mulling a secondary listing in Singapore after merging with a US-listed SPAC. The company recently finalised a merger with Altimeter Growth to go public in the US at a valuation of just under $40bn (£29bn). Grab, which was founded in 2012 and became south-east Asia’s first decacorn [...]
Beleaguered Cineworld tops the list of 10 most shorted UK stocks April 15, 2021 Cineworld tops the list of 10 most shorted stocks in the UK as hedge funds take aim at the cinema which has been forced to shut for over a year. A “short” is a method of betting against a stock, so that the investor can make a profit if the share price falls. Investors borrow [...]
S&P 500 and Dow hit record highs on upbeat earnings April 15, 2021 The S&P 500 and Dow Jones indexes hit record highs on today, as upbeat earnings reports from companies including Bank of America and Blackrock as well as a strong rebound in March retail sales bolstered hopes of a broader economic rebound. The Dow Jones Industrial Average rose 57.64 points, or 0.17%, at the open to 33,788.53. The S&P 500 [...]
Oil prices surge as refining surge fuels demand hike April 14, 2021 Oil prices surged today as a larger than expected fall in US crude stocks gave fresh indications that fuel demand is beginning to increase as coronavirus restrictions begin to be rolled back around the world. Worldwide standard Brent Crude saw prices jump 4.2 per cent today, rising to $66.34. US counterpart West Texas Intermediate (WTI) [...]
Wall Street opens flat as big banks kick off earnings season April 14, 2021 U.S. stock indexes opened flat today as Goldman Sachs and JPMorgan kicked off the first-quarter corporate earnings season, against the backdrop of a swift vaccine-led global economic recovery The Dow Jones Industrial Average fell 8.32 points, or 0.02 per cent, at the open to 33,668.95. The S&P 500 opened lower by 0.01 points, or -0.00 [...]
The pros, cons and incentives behind the SPAC-craze sweeping markets April 14, 2021 | City Talk There have been 378 initial public offerings (IPOs) in the US in the first three months of 2021. That’s more than in any full calendar year between 2003 and 2019. The $139 billion raised so far this year is more than two and a half times the yearly average over this period. They already have [...]
FTSE 250 bests main market after postive GDP data fails to move the dial April 13, 2021 FTSE 250 bests main market after postive GDP data fails to move the dial
US securities regulator steps up scrutiny of blank-cheque vehicles April 13, 2021 The US securities regulator has issued new guidance for special acquisition companies (SPACs) amid concerns they have improperly accounted for warrants sold or handed to investors. SPACs have become a popular route for companies wanting to go public. They are created and listed to raise money with the intention of buying a private company within [...]
Pound sterling jumps as shops in England reopen and pubs start serving April 12, 2021 GBP started the week well, trading up against the dollar and euro today as shops, gyms, pubs and restaurants reopen across England