Rio Tinto sees iron production tick up on rising China demand January 19, 2021 Mining giant Rio Tinto said that iron ore production had increased in the final quarter of the year on the back of increased demand from China. The Anglo-Australian company said that output from its Pilbara iron assets had risen 3.0 per cent in the last three months despite the challenges of Cyclone Damien and the [...]
Before the Bell: Janet Yellen faces US lawmakers today January 19, 2021 A lacklustre trading session for Europe in the absence of US markets yesterday saw European equities finish the day rather mixed with the FTSE100 finishing the day on the back foot, while German and French markets finished the day modestly higher. Michael Hewson, chief market analyst at CMC Markets UK, told City A.M. this morning [...]
FTSE 100 falls as recovery concerns weigh on markets January 18, 2021 The FTSE 100 is fell today as last week’s slide in investor confidence continued. London’s premier index closed 0.2 per cent down to stand at 6,723 points. The FTE 250 of midcaps went the other way, rising 0.1 per cent to 20,646 points. In a sluggish day of trading, markets never really got going, with [...]
The vaccine challenge facing emerging markets January 18, 2021 | City Talk News that effective vaccines against Covid-19 are slowly being rolled out in some parts of the world has brought the end of the corona crisis into view and buoyed investor sentiment. But we are not yet out of the woods, particularly in emerging markets (EM) where some countries are suffering renewed outbreaks of the virus. [...]
British biotech firm Immunocore opts for New York float January 18, 2021 Cancer biotech firm Immunocore is looking to list on the Nasdaq rather than London as it aims to raise up to $100m. The Oxford-based company delivers biological therapies for people suffering with cancer and other serious diseases. Last week Immuncore secured $75m in fresh funding after a Series C round, bringing its total raised through [...]
Centrica’s finance chief steps down after seven months January 18, 2021 Centrica’s (CNA) chief financial officer will leave the firm at the end of the month after just seven months in the role. Johnathan Ford, who joined from Homeserve in June 2020, is stepping down for “personal reasons” and leaving Centrica on 31 January. Group financial controller Kate Ringrose has been promoted and will be appointed [...]
FTSE 100 drops to October lows on recession fears January 15, 2021 The FTSE 100 sunk into the red today, capping off its worst weekly performance since the end of October amid fresh Covid woes. The blue-chip index closed down 0.97 per cent at 6,735 points after new data showed UK GDP fell 2.6 per cent in November, sparking fears of a double-dip recession. London’s main market [...]
FTSE 100 and Wall Street on the rise on Biden stimulus hopes January 14, 2021 The FTSE 100 and Wall Street rose today on the news that President-elect Joe Biden will tonight unveil a fresh trillion stimulus package to boost the US’ flagging economy. Biden is expected to reveal details of the deal, which is expected to top $1.5 trillion, in an television address tonight. London’s premier index rose 0.5 [...]
Before the Bell: Europe called higher as Biden is due to announce $2trn stimulus January 14, 2021 Volatility in the markets was low across the board yesterday. There was no change to the macroeconomic outlook. “Hence why trading ranges were relatively small. Equity markets in Europe and the US had muted sessions,” David Madden, market analyst at CMC Markets UK, tells City A.M. this morning. “The health crisis is still bubbling away [...]
FTSE 100 and Wall Street flat in subdued day for markets January 13, 2021 The FTSE 100 was flat by the mid afternoon as markets slipped into a lull after a rapid start to the year. After rising 6.4 per cent last week, London’s leading index has faltered this week with two consecutive sessions of losses. By 3pm the bourse was down 0.05 per cent at 6,751 points. The [...]