FTSE 100 and US stocks climb as investor fears ease October 16, 2020 The FTSE 100 rebounded as investors returned to risk assets, having dumped them yesterday amid worries over new coronavirus restrictions, while US stocks rose on vaccine hopes and upbeat retail sales data. London’s main stock index climbed 1.7 per cent in afternoon trading to stand at 5,929 points. That followed a 1.7 per cent tumble [...]
Pound swings wildly after Boris Johnson steps up no-deal rhetoric October 16, 2020 The pound swung wildly and gave up its gains after Prime Minister Boris Johnson said the UK should prepare for a no-deal Brexit, amid mixed signals from the negotiating process. Sterling was trading as much as 0.3 per cent higher when Johnson started speaking. It then dropped, rose slightly, and fell again to last stand [...]
FTSE 100 closes deep in the red amid new coronavirus lockdowns October 15, 2020 London markets plunge on increased social restrictions, with travel and leisure firms dragging FTSE 100 lower
National Grid launches £700m subsea power link October 15, 2020 National Grid (NG) will today open its latest energy interconnector, which will provide enough clean power for 1m households. The 149-mile-long power cable, which runs between Portsmouth and Caen in France, allows the two nations to share excess zero carbon power. By the end of its first year in operation, IFA2 will have helped avoid [...]
FTSE 100 and US stocks slip into the red in choppy session October 14, 2020 The FTSE 100 bucked the European trend and slipped into the red along with US stocks as investors weighed up the path of the coronavirus pandemic, company earnings, and geopolitics. London’s main stock index rose in morning trading. But a sharp climb in sterling set the index back in the afternoon. It was last down [...]
Sterling jumps amid hopes of a post-Brexit trade deal October 14, 2020 The pound jumped past the $1.30 mark after suggestions that the EU and UK could yet reach a post-Brexit trade deal cheered investors. Sterling was up 0.8 per cent by around 2.30pm UK time at $1.203. It was 0.6 per cent higher against the euro at €1.108. Prime Minister Boris Johnson and European Commission boss [...]
The maths of why growth companies are beating value October 14, 2020 | City Talk One of the side effects of low interest rates is that, because of the way that companies are valued, investors place a higher value on companies (and investment projects) which have a low probability, high payoff, a long time in the future. This helps explain why investors have been prepared to pay up for loss-making [...]
EU markets watchdog working on ‘Plan B’ to move euro clearing from London October 14, 2020 The European markets watchdog is working on a “Plan B” that would move clearing of euro-denominated derivatives out of London if the bloc decides not to grant the UK long-term access to its markets. The London Stock Exchange’s LCH unit has been given permission by the bloc to continue clearing derivatives for EU customers for [...]
Cornish Lithium fundraise smashes £4m as Poldark spirit lives on October 13, 2020 A new lithium project in the south-west has attracted more than £4m in investment over the last 24 hours, smashing its target of a £1.5m raise. Cornish Lithium opened up to pre-registered investors yesterday and nearly doubled its original target within three hours. The firm, which is based near Redruth in England’s westernmost county, then [...]
SSE sells energy from waste plants for £1bn October 13, 2020 SSE today announced that it would sell its stake in two energy from waste plants for £995m as it continues to raise money to invest in low-carbon projects. Shares in the FTSE 100 company rose 3.9 per cent in the morning’s trading. The divestment, which is expected to complete by the end of the year, [...]