FTSE 100 heads for second-best month on record but still lags peers November 28, 2020 Britain’s FTSE 100 stock index is on track for its second-best month in history as optimism about vaccines boosts unloved sectors such as financials and industrials that dominate the UK corporate landscape. Yet the index is still well behind its global peers this year. Despite US markets and global stocks hitting record highs, the UK [...]
US stocks hit all-time high but FTSE 100 lags November 27, 2020 US stock markets hit fresh all-time highs despite the thin post-thanksgiving trading, while the FTSE 100 lagged behind amid worries about Brexit and the economy. Wall Street’s S&P 500 rose 0.3 per cent in the early part of the session. The Dow Jones climbed 0.2 per cent while the Nasdaq jumped 0.9 per cent. All [...]
Before the bell: Volatility remains low post-Thanksgiving November 27, 2020 It was a subdued session yesterday as the US celebrated Thanksgiving and in turn the US stock market was closed. Dealers in the rest of the world largely sat on their hands while their US-based counterparts enjoyed their turkey. It was a quiet day in terms of news flow and there was little appetite for [...]
Bitcoin and cryptocurrencies plunge after nearing record highs November 26, 2020 Bitcoin has plunged after coming within touching distance of a new all-time high yesterday, with investors second-guessing the cryptocurrency’s recent surge and profit-taking towards the end of a volatile week. The biggest cryptocurrency was last down around 11.6 per cent to $16,921. It had fallen as much as 13 per cent earlier in the day. [...]
FTSE 100 declines after Tier 2 announcements and dismal economic data from Sunak November 26, 2020 The FTSE 100 slipped as investors digested the dire economic outlook offered by chancellor Rishi Sunak yesterday and the new Tier 2 restrictions for London, putting an end to the recent vaccine-driven rally. London’s main stock index fell 0.46 per cent, taking it down to 6,361 points. It followed a fall of around 0.6 per [...]
Evergrande Property ‘prices at lower end’ in $1.8bn Hong Kong IPO November 26, 2020 Evergrande Property Services Group – part of China’s second-biggest property developer – reportedly achieved the lower end of expectations to raise $1.8bn in its major Hong Kong IPO. The public offering priced at HK$8.80 (85p) per share, according to sources who spoke to Reuters. The marketed range was HK$8.50 to HK$9.75. It comes with Evergrande [...]
Before the bell: Calm day expected as US celebrates Thanksgiving November 26, 2020 Equity markets were relatively quiet yesterday as some dealers banked their profits from the ground that was gained earlier in the week. “The mood in the markets was assisted by the growing feeling that there will be a smooth had over of power from President Trump to President-elect, Joe Biden,” David Madden, market analyst at [...]
Wall Street edges back from record highs on grim jobless claims November 25, 2020 Wall Street edged back from record highs this evening after a surprise increase in jobless claims dimmed hopes of a swift economic recovery. The S&P 500 slipped back 0.2 per cent to 3,629.65 points, while the Dow Jones fell 0.6 per cent to 29,872.47 points. However, the tech heavy Nasdaq continued to rise, climbing 0.5 [...]
JD Health set for $3.5bn IPO in biggest Hong Kong launch of the year November 25, 2020 Chinese healthcare giant JD Health is set for a $3.5bn (£2.6bn) IPO in Hong Kong next month, in what would be the city’s biggest listing this year. JD Health is China’s largest healthcare platform by revenue, bringing in $1.6bn last year, and now has more than 70m active users. It is a subsidiary of Chinese [...]
FTSE 100 edges higher amid vaccine hopes and Biden picks November 25, 2020 The FTSE 100 rose for the second day as markets continued to be buoyed by positive vaccine news, president-elect Joe Biden’s cabinet picks, and stronger-than-expected US economic data. The FTSE rose 0.1 per cent in early trading, hitting 6,441 points. Its little brother, the FTSE 250, fell 0.5 per cent however. Market optimism yesterday sent [...]