Before the bell: Quiet start for Europe as all eyes are on US data November 25, 2020 It was another bullish day for global stock markets yesterday as sentiment was lifted by the vaccine hopes as well as the prospect of President Trump departing from his role in January in a calm and measured manner. The update on Monday from AstraZeneca-Oxford University that its potential Covid-19 vaccine has made great progress in [...]
UK capital raising hits decade-high amid coronavirus crisis November 25, 2020 The coronavirus pandemic has driven UK companies to raise the most money on public markets in a decade, with firms scrambling for cash returning to traditional fundraising methods, analysis shared exclusively with City A.M. has shown. Listed companies have raised more than £26bn this year from London Stock Exchange’s (LSE) main and AIM markets, analysis [...]
Energy firms call on government to embrace emissions trading after Brexit transition ends November 24, 2020 Leading energy companies have urged the UK to embrace carbon trading after the Brexit transition period concludes and not adopt a carbon tax instead. In a letter to Boris Johnson, the group, which includes firms such as RWE and Uniper, said that tradable carbon credits remain the best way of cutting emissions. At the moment, [...]
Oil prices hit pre-lockdown levels as vaccine rally goes on November 24, 2020 Oil prices today hit their highest levels since the spring’s historic collapse as traders continued to celebrate news of yet another effective coronavirus vaccine. Brent crude jumped 3.9 per cent across the day to touch $48 – the highest the global standard has traded at since Opec initiated a price war with Russia at the [...]
Wall Street hits record high on vaccine hopes and Biden transition November 24, 2020 US stocks pushed to record highs this afternoon as investors welcomed positive and signs that US President Donald Trump is accepting his election loss. The Dow Jones climbed 1.6 per cent to set a new record high, trading above 30,000 points for the first time. The gains mean it is on track to cement its [...]
Oil prices hit highest levels since March on more vaccine hopes November 23, 2020 Global oil prices rose again today as a third straight Monday brought with it positive news concerning a vaccine for the coronavirus disease. Prices climbed a further two per cent after Astrazeneca and Oxford University said that their vaccine was up to 90 per cent effective. The announcement followed similar statements in recent weeks from [...]
Sterling hits 10-week high on vaccine and Brexit deal optimism November 23, 2020 Sterling rallied to a two and a half month high today, as more positive news about a potential Covid-19 vaccine propelled investors to buy riskier currencies and offset concerns about whether Britain and the EU can clinch a Brexit trade deal. Tonight the pound is up 0.3 per cent to $1.332, while against the euro [...]
Vaccine hopes boost Wall Street open November 23, 2020 Wall Street’s main indexes rose today as hopes that the first Covid-19 vaccine could be available within weeks renewed bets of a swift economic recovery next year. The Dow Jones index was up 0.57 per cent, a rise mirrored by the S&P 500, while the tech-heavy Nasdaq Composite index gained 0.87 per cent. The US [...]
November 2020 a month full of takeaways November 23, 2020 | City Talk It’s now over a week since Joe Biden was declared the winner of the US 2020 elections. The uncertainty leading up to 3rd November was palpable and pervasive and placed a ceiling on significant capital gains. However, the week of the election was superb for risk markets, even as votes were counted. The S&P 500 [...]
Has the euro’s time come to shine? November 23, 2020 | City Talk Our fixed income team thinks that after more than a decade of financial uncertainty, Europe’s fortunes – and that of the euro – could be set to change. Here’s why. Years of instability The past couple of years have brought yet more turmoil and uncertainty to the European Union. What its proponents see as a [...]