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 [...]
Before the Bell: Volatility remains low but Trump faces impeachment vote January 13, 2021 Stock markets had a relatively quiet session yesterday as there wasn’t any major news to influence sentiment in one way or another. European stocks lost ground as Covid-19 case numbers played on traders’ minds. Several governments have tight restrictions in place in a bid to get a handle on the virus – which is having [...]
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 [...]