City regulator confirms mini-bond marketing ban December 10, 2020 The Financial Conduct Authority has today confirmed its permanent ban on the marketing of mini-bonds to retail investors amid concerns over losses. It comes after a series of scandals involving unregulated bonds, including the collapse of London Capital & Finance (LCF) last year. The confirmation follows a temporary ban introduced in January after the regulator [...]
Pound sterling sinks lower on no-deal Brexit jitters December 10, 2020 The Brexit-battered pound extended its losses against the dollar and the euro this morning, on no-deal Brexit concerns.
FTSE 100 edges higher as Brexit talks given Sunday deadline December 10, 2020 The FTSE 100 opened higher as the lack of progress in Brexit talks continued to pressure the pound. London’s blue-chip index climbed 0.32 per cent by 8.40 GMT as investors considered how likely a Brexit deal is. Sterling sank 0.6 per cent against the dollar and 0.8 per cent against the euro. Boris Johnson and [...]
Sterling rises against US dollar and euro amid hopes of a Brexit deal December 9, 2020 Sterling rose against the US dollar and the euro today, boosted by hopes that a no-deal Brexit could be avoided. GBP is up 0.74 per cent on the US dollar and 0.72 per cent on the euro this afternoon following three days of losses. David Madden, a market analyst at CMC Markets UK, said a [...]
Vaccine optimism spurs near-record equity inflows December 9, 2020 The long-awaited announcement of effective vaccines saw investors pile back into equity funds last month at a near-record level. Renewed optimism among investors saw a net £2.3bn added to equity funds, according to fund network Calastone’s latest data. It is the second highest month of inflows on record after April 2020 when investors welcomed coronavirus [...]
Rio Tinto should pay reparations for sacred cave destruction, inquiry finds December 9, 2020 Mining giant Rio Tinto should pay reparations to indigenous Australians for the destruction of two sacred caves, an inquiry into the incident has found. The FTSE 100 company has been the subject of fierce criticism since it decided to destroy the 46,000-year old Jukkan Gorge site in Western Australia in order to expand an iron [...]
FTSE 100 rises ahead of PM’s Brexit trip to Brussels December 9, 2020 The FTSE 100 opened higher as Prime Minister Boris Johnson prepared to fly to Brussels for key Brexit talks and after the administration of Donald Trump in the US suggested a $916bn (£685bn) stimulus package. The index climbed 0.3 per cent to 6,580 points in early trading. Britain’s FTSE 250 index of mid-cap firms rose [...]
Aberdeen Standard to buy 60 per cent of logistics property investor Tritax December 9, 2020 Aberdeen Standard Investments (ASI) will acquire 60 per cent of logistics real estate manager Tritax for an undisclosed sum, the two companies announced today, as it seeks to benefit from the boom in online shopping. Tritax is a fund manager that focuses on investing in logistics real estate such as warehouses in the UK and [...]
FTSE 100 falls along with pound amid Brexit impasse December 8, 2020 The FTSE 100 fell and the pound slipped again as Brexit talks continued, with Prime Minister Boris Johnson set to fly to Brussels for last-ditch talks. The London stock index was down 0.5 per cent, hitting 6,521 points. The FTSE 250 – made up of smaller firms – was also down 0.5 per cent. Read [...]
Government calls on banks to advise on first green gilt December 8, 2020 The UK government has asked banks to bid for contracts to advise on the launch of the country’s first green gilt. Chancellor Rishi Sunak unveiled plans last month to issue climate-focused securities for the first time. He said the bonds would contribute to a “new chapter for financial services” in the UK. Green government bonds [...]