EU sees record demand for social bonds as it ramps up borrowing October 20, 2020 The European Union received a record level of demand for bonds it is selling to support its recovery from coronavirus, in a positive sign for the bloc as it plans to massively ramp up issuance. The EU attracted bids of more than €233bn (£213bn) for the €17bn it sought to raise to fund its Sure [...]
Technical glitches not caused by cyberattack, says Euronext October 20, 2020 A major outage that froze trading in several European cities yesterday and a later glitch that meant markets failed to close was not caused by a cyberattack, exchange operator Euronext said. The two trading glitches were caused by a technical failure that hit one of Euronext’s systems “in charge of managing persistence of data”, a [...]
The rise of the retail trader: A short history of how trading became accessible October 20, 2020 | City Talk Once upon a time not so long ago, the world of trading looked vastly different. To determine where to invest, a trader had to listen to the radio, read the daily newspaper, maybe even visit the library to research particular industries and individual companies. Once they knew where to invest, they would call their local [...]
Energy price cap extended for a year protecting 11m households October 20, 2020 About 11m UK households will be protected from being overcharged for their energy bills for another year after the government decided to extend its price cap. The cap, which saves households on standard variable and default tariffs between £75 and £100 every year, will now last until the end of 2021. Since it was first [...]
Wall Street closes in the red as stimulus talks grind on October 19, 2020 Wall Street closed lower this evening as deadlock over a new stimulus package raised concerns that time was running out to agree a deal before the election on 3 November. The Dow Jones Industrial Average fell 1.4 per cent, to 28,207, the S&P 500 lost 1.6 per cent to hit 3,427.37 and the tech-heavy Nasdaq [...]
FTSE 100 goes in reverse as sterling strengthened while Covid restrictions increased October 19, 2020 FTSE 100 goes in reverse as sterling strengthened while Covid restrictions increased
Euronext fixes technical glitch that halted morning trading October 19, 2020 Exchange operator Euronext said trading is set to resume after it fixed a technical glitch that halted all transactions in Amsterdam, Brussels, Lisbon and Paris for over three hours. Euronext halted trading in all its cash and derivatives products due to a technical issue this morning. The outage hit trading in cash equities, derivative products and [...]
Pound jumps on signs a Brexit deal can still be done October 19, 2020 The pound surged as investors bet that Brexit talks would resume – despite the UK’s tough rhetoric – and eventually result in some kind of free-trade agreement. Sterling was up 0.7 per cent by mid-morning at $1.30. It had risen 0.5 per cent against the euro to stand at €1.107. Prime Minister Boris Johnson struck [...]
Covid-19 and “stakeholder capitalism”: actions speak louder than words October 19, 2020 | City Talk The idea that companies should be run for the benefit of all their stakeholders, not just shareholders, is not new. “Stakeholder capitalism”, as it’s become known, was actually the dominant corporate model long before “shareholder primacy” (i.e. prioritising shareholders) really took hold in the Anglo-Saxon world in the 1970s. It remains the norm in some [...]
China’s economy grew 4.9 per cent in third quarter October 19, 2020 China’s economy expanded 4.9 per cent year-on-year in the third quarter, missing expectations but storming ahead of other nations still suffering the economic fallout from the pandemic. Chinese GDP continued its recovery between July and September, marking a second consecutive quarter of growth following a 3.2 per cent hike in the second quarter. The return [...]