Watchdog calls for end to relaxation of pre-emption rules November 20, 2020 The audit regulator has called for an end to the relaxed pre-emption rights past the November deadline, in what has been hailed as a positive step for retail investors. The so-called pre-emption rights were first introduced in March by the Financial Reporting Council (FRC) in a bid to help struggling companies raise cash quickly. The [...]
FTSE 100 and global stocks fall after vaccine sugar-rush November 19, 2020 The FTSE 100 and global stocks dropped as worries about rising coronavirus cases and longer-than-expected lockdowns knocked the index after positive vaccine news drove it higher yesterday. London’s main stock index fell 0.9 per cent to 6,327 points by mid-afternoon. The FTSE 250 of slightly smaller firms also fell 0.9 per cent. In the US, [...]
Treasury launches listings review to lure companies to float in the UK November 19, 2020 The Treasury has today launched a review into the rules governing public listings in a bid to lure firms to float in the UK. Former British commissioner to the EU Lord Hill will lead the review which is aimed at helping to shape the UK’s financial services industry after Brexit. Lord Hill will present his [...]
Struggling Cineworld leads the list of 10 most shorted UK stocks November 19, 2020 Investors have taken big bets against cinema group Cineworld and energy firms Premier Oil and Tullow Oil, with Blackrock taking the highest number of short positions in the UK market, new analysis has shown. Behind Cineworld, Premier and Tullow, the most shorted stocks as of 12 November included oil services firm Petrofac, lender Metro Bank [...]
CMC Markets posts record results as pandemic fuels trading activity November 19, 2020 CMC Markets enjoyed a bumper start to the year after more than doubling its income in the first half, capitalising on market volatility amid the pandemic. The trading platform reported a record £230.9m in net operating income for the six months ended 30 September, up from £102.3m in the same period last year. CMC, whose [...]
Increasing virus concerns start to outweigh vaccine optimism November 19, 2020 Yesterday saw markets undergo a period of introspection, as further positive news about the Pfizer vaccine offset concerns about the increasing economic damage set to be caused by further restrictions and lockdowns, as infection and hospitalisation rates continued to rise. While markets in Europe managed to eke out some modest gains close to their recent [...]
Asian stocks mixed as investors weigh ‘virus vs. vaccine’ November 19, 2020 Asian stocks were mixed as investors weighed up rising coronavirus cases and new measures to curb them with hopes that a vaccine could soon be ready. Equities fell in Japan by 0.5 per cent after Tokyo warned about a record rise in daily coronavirus cases. The warning prompted fears that further restrictions could soon be [...]
The four “M”s: why the 21st century belongs to Asia November 18, 2020 | City Talk For a look into the future of the global economy, and where the power is shifting, consider technology developments in both China and India., In a mere decade, China’s e-commerce market has grown from less than 1% of global sales, into the world’s largest market in 2016, representing more than 40% of transactions by value. [...]
London startup Arrival valued at $5.4bn in US listing through Spac deal November 18, 2020 Electric vehicle startup Arrival has merged with a blank-check company to go public in the US at a listing valued at around $5.4bn. The London-based company, which was founded in 2015, has agreed to merge with Nasdaq-listed CIIIG Merger Corporation, a special purpose acquisition company (Spac). This year there has been somewhat of a frenzy [...]
Bitcoin breaks through $18,000 to near all-time high November 18, 2020 Bitcoin has reached a three-year high after breaking through $18,000, with analysts predicting it could climb higher. The leading cryptocurrency has seen value surge 160 per cent this year, climbing 70 per cent since September alone. Bitcoin has rallied to $18,123, nearing the $19,763 all-time high it reached in December 2017. This surge takes the [...]