Cairn Energy plunges to $324m loss after hefty one-off charge September 29, 2020 Oil explorer Cairn Energy today booked a $324m (£251.8m) loss for the first half after it was hit by a hefty impairment charge related to its assets in Senegal. However, the FTSE 250 firm said that it had safely managed the coronavirus crisis and was well positioned to generate future growth. The figures In a [...]
Octopus wraps tentacles around US with Evolve Energy purchase September 29, 2020 Challenger energy brand Octopus has today continued its international expansion with its first foray into the massive US market. The firm, which has grown rapidly since launching four years ago and now boasts 1.7m accounts in the UK, has bought American supplier Evolve Energy in a $5m (£3.9m) deal. The acquisition is the first step [...]
FTSE 100 climbs as ‘relief rally’ pushes global equities higher September 28, 2020 The FTSE 100 has started the week off strong, climbing as much as 1.69 per cent amid a global “relief rally” as investors rushed to buy up shares in beaten-down sectors after last week’s sharp stock market sell-off. Blue chips HSBC and spirits-maker Diageo helped boost the British blue-chip index on Monday, which was also [...]
Retail trading – don’t become a one-trick pony September 28, 2020 | City Talk The markets around the world have recently been a hive of activity and volatility. When this occurs, it presents a multitude of potential trading opportunities. This has given birth to a new breed of traders accessing their platforms. The average trader nowadays does not want to be confined to a single asset class or product; [...]
Britain and EU reach temporary agreement on derivatives clearing September 28, 2020 Britain and the EU have reached a temporary accord on the information-sharing arrangements needed for eurozone banks to continue to use London’s clearing houses until June 2022. Britain’s unfettered access to the bloc’s markets ends on 31 December. Brussels had already agreed to grant UK clearing houses temporary access for 18 months, but an updated [...]
FTSE 100 slips but US stocks rise amid Covid worries September 25, 2020 The FTSE 100 slipped but US stocks rose as European stocks headed for their worst week since June, with investors rattled by rising coronavirus cases. London’s blue chip index was down 0.1 per cent to 5,819 points as it approached the close, despite having opened higher. The FTSE 250 was up 0.8 per cent, however. [...]
Boris Johnson: UK can be ‘launchpad’ for green industrial revolution September 24, 2020 Boris Johnson has said that the UK will lead the world in the world in the transition to a net zero economy, saying that climate action cannot be “another victim of coronavirus”. Speaking to a United Nations roundtable on climate change this afternoon, the PM said that the UK will serve “as a launch pad for [...]
FTSE 100 and Wall Street drop as coronavirus fears return September 24, 2020 The FTSE 100 fell today after two consecutive days of climbs as investors’ nerves over the impact of coronavirus on the economy returned. London’s blue-chip stock index fell 1.1 per cent to 5,835 points by the mid-afternoon, while the mid cap FTSE 250 index fell by the same margin. Meanwhile, after a sharp sell-off on [...]
2020: The year to start trading volatility September 24, 2020 | City Talk Newton’s third law dictates that for every action there is an equal and opposite reaction. It is a law whose logic can be seen in movements of the market. Political shocks and scandals, natural disasters and pandemics, and now even incendiary tweets, can set off jitters and tremors across all markets. Before this summer, the [...]
Premier Oil seeks to lower price of BP purchases for a second time September 23, 2020 Premier Oil has begun talks with BP over lowering the price of a $210m deal to buy its stakes in two North Sea oilfields for a second time, it was reported today. Back in June, the struggling oil explorer managed to renegotiate the price down from an initial sum of $625m as it was hit [...]