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 [...]
Oil prices tumble as new lockdowns prompt fresh demand fears March 23, 2021 Oil prices plunged today as new coronavirus lockdowns and tougher travel restrictions across Europe raised fears of a slump in fuel demand. Worldwide standard Brent crude tumbled 4.7 per cent by the mid-morning, shedding more than $3 to stand at $61.60. US counterpart West Texas Intermediate dropped by the same margin, falling back below the [...]
City A.M. TV: Daily Market Snapshot (video) March 23, 2021 City A.M. TV: Daily Market Snapshot (video)
Just 43 tech firms have listed in London in the last 20 years March 22, 2021 Just 43 of the UK’s fastest-growing tech firms have floated on the London Stock Exchange in the last twenty years, according to new research. New research by accountancy firm BDO shows that of the UK’s 1,200 fastest growing tech startups fewer than four per cent have listed in London. Even with blockbuster IPOs lined up [...]
Centamin strikes gold as price surge takes revenues to new highs March 22, 2021 Gold miner Centamin generated record revenue in 2020 as the coronavirus pandemic pushed precious metal prices higher around the world. The firm reported revenue of $829m in 2020, from gold sales of 468,681 ounces at an average realised gold price of $1,766 per ounce sold. The gold mining company recorded profit before tax of $315m [...]
City A.M. TV: Daily Market Snapshot (video) March 22, 2021 City A.M. TV: Daily Market Snapshot (video)
Payments group Wise mulls direct London listing March 19, 2021 Payments company Wise, formerly known as Transferwise, is reportedly looking to list in London without selling new shares to investors. Upheld as one of the UK’s most successful startups, having reached unicorn status in 2015, Wise has long been considered a candidate for an IPO. The fintech, which was most recently valued by private investors [...]
FTSE 100 falls as fresh lockdowns across Europe dampen economic outlook March 19, 2021 The FTSE 100 fell this morning as fresh Covid-19 lockdowns across Europe dampened hopes of a swift recovery in demand for industrial stocks including energy. London’s blue-chip index sank 1.2 per cent, before recovering slightly to sit 0.6 per cent down at 8.30am. Oil heavyweights BP and Royal Dutch Shell fell 3.2 per cent and [...]
FTSE 100 recovers after Bank of England holds interest rates March 18, 2021 London stocks recovered this afternoon after suffering a drop following the Bank of England’s decision to hold interest rates indicated the pace of Britain’s economic recovery from the Covid-19 pandemic. The BoE kept its stimulus programme unchanged this afternoon ahead of an expected recovery in Britain’s economy later this year, helped by the fast rollout [...]