Premier Oil shareholders back Chrysaor merger as era comes to an end January 12, 2021 Premier Oil’s shareholders have today voted overwhelmingly in favour of the North Sea-focused firm’s merger with fellow independent Chrysaor. At this afternoon’s general meeting, 98.7 per cent of shareholders backed the motion, which marks the end of an era for the veteran firm. The deal is expected to be completed by the end of the [...]
FTSE 100 slides again but Wall Street edges up January 12, 2021 The FTSE 100 dropped again today after Chancellor Rishi Sunak warned that the economy would get worse before it got better. Across the Atlantic, Wall Street’s main markets crept upwards as traders looked for details of a new stimulus package for the distressed economy. London’s premier index was up 0.1 per cent at the opening [...]
Before the Bell: Tech firms under pressure as Europe poised for modest rebound January 12, 2021 Equities sold off yesterday as last week’s bullish mood was swapped for a more cautious attitude. There was an absence of positive news yesterday so the stories about the health crisis were at the centre of attention, David Madden, market analyst at CMC Markets UK, tells City A.M. this morning. The Chinese authorises announced the [...]
FTSE 100 falls back as extra restrictions mulled January 11, 2021 The FTSE 100 fell back slightly this morning as reports that the government is mulling further restrictions pressed on the markets. London’s premier index fell 0.5 per cent by mid morning to stand at 6,838 points after a rapid start to the year last week. In the first week of trading, the bourse picked up [...]
City watchdog issues crypto warning as price of Bitcoin soars January 11, 2021 City watchdog the Financial Conduct Authority (FCA) has warned consumers that investing in cryptoassets is “very high risk”, after some firms promised high returns for the investment. The FCA said customers “should be prepared to lose all their money” if they invest in cryptoassets, which is considered a high risk and volatile investment strategy. The [...]
FTSE 100 reverses gains but Wall Street shrugs off grim jobs data January 8, 2021 London markets have exited a global rally of share indices, with the FTSE 100 now flat
Scotland’s fishermen halt EU exports amidst post-Brexit ‘catastrophe’ January 8, 2021 Scottish fishermen have reportedly frozen exports to the EU due to a sudden rise in export costs and skewed delivery times after post-Brexit delays at ports. Fishing export businesses are faced with the introduction of health certificates, customs declarations and other paperwork increase export costs and timings. “Our customers are pulling out,” Santiago Buesa of [...]
FTSE 100 stutters after touching 6,900 but Wall Street pushes on January 7, 2021 The FTSE 100 stuttered today after touching 6,900 points this morning in yet another fast open to trading, but US markets traded higher again. London’s premier index rose 0.8 per cent at the open to stand at 6,903 points, its highest level since before the pandemic. However, traders soon slammed on the breaks, with the [...]
Equity funds ride ‘coronacoaster’ to finish 2020 on a high January 7, 2021 Global equity funds closed a torrid year on a record high as investors were buoyed by news of a vaccine rollout. November saw savers invest a record £8.3bn, beating the previous record of £5.7bn net retail sales from September 2017, according to data from the Investment Association (IA). With interest rates at almost zero investors [...]
TP ICAP launches rights issue to fund Liquidnet deal January 7, 2021 Interdealer broker TP ICAP is seeking a £315m rights issue to fund its acquisition of electronic trading network Liquidnet Holdings. The rights issue is expected to result in the issue of 225.3m shares for qualifying shareholders equivalent to 40 per cent of the existing share capital base. The FTSE-250 listed firm announced the deal in [...]