Which stock markets look ‘cheap’ after the rapid rebound? June 19, 2020 | City Talk We look at how five regional markets stack up on various valuation measures. Early last week, the short answer as to which markets looked cheap was: none. Despite everything that 2020 has thrown at it, at one stage the US stock market was up for the year overall. Other markets had also regained a lot [...]
FTSE 100 closes lower after BoE boosts stimulus by £100bn June 18, 2020 The FTSE 100 closed lower this afternoon following the Bank of England’s announcement that it would expand its quantitative easing programme by £100bn. London’s blue-chip index finished 0.57 per cent lower at 6,217 points, having opened 0.48 per cent down this morning. The central bank said it would boost its bond-buying programme by £100bn after [...]
Asian markets fall as fears of second wave dent confidence June 18, 2020 Asian markets fell on Thursday as spiking coronavirus cases and prospects of new lockdowns shook earlier confidence about a global economic recovery. Optimism about a quick economic comeback has been tempered by more global cases of coronavirus, with a fresh outbreak in Beijing and rising infections in US states that are reopening after lockdowns helping [...]
FTSE 100 closes higher but loses ground on second wave fears June 17, 2020 The FTSE 100 closed higher today, albeit losing some ground as markets remain jittery on fears of a second coronavirus wave in China. London’s blue-chip index climbed to trade 0.72 per cent higher during the afternoon afternoon, before closing up 0.18 per cent. The rally came despite figures released earlier today showing UK inflation falling [...]
Q&A: How can data science help investors map the route out of lockdown? June 17, 2020 | City Talk We ask Mark Ainsworth, Head of the Data Insights Unit at Schroders, how data science can help investors navigate the next phase of the Covid-19 crisis. The Covid-19 crisis has brought data into our everyday lives like never before. Where once we might have checked our news apps for the football scores, we’re now looking [...]
Bank of England lookahead: Bailey set to ramp up QE but avoid negative rates June 17, 2020 The Bank of England is widely expected to boost its asset purchase programme by at least £100bn tomorrow, as the central bank ramps up quantitative easing to shore up the UK economy. Governor Andrew Bailey is set to bolster UK stimulus at the Bank’s Monetary Policy Committee (MPC) tomorrow, economists predicted. The expansion of quantitative [...]
Saudi Aramco completes $69bn deal for petrochemicals giant Sabic June 17, 2020 Oil behemoth Saudi Aramco has bought a 70 per cent stake in petrochemicals giant Sabic from Saudi Arabia’s state investment fund for a whopping $69bn (£55bn). The deal, which will create a petrochemicals entity with combined production volumes of 90m tonnes, valued Sabid at 123.39 riyals per share, a 27.5 per cent premium on its [...]
Oil prices begin slide over coronavirus second wave fears June 17, 2020 Global oil prices slipped back this morning on rising fears over a second wave of coronavirus infections after an outbreak in Beijing. Worldwide benchmark Brent crude fell 1.5 per cent over the morning’s trading, slipping back to $40.34. Meanwhile US standard West Texas Intermediate, which was recently trading close to $40 levels, dropped 1.8 per [...]
National Grid secures £580m loan for Viking Link power cable June 16, 2020 The National Grid has today secured a $734m (£580m) loan to help build a new €2bn power link between the UK and Denmark. The Viking Link, which is expected to be completed in 2023, will be able to provide renewable power to 1.4m households. The 1400 megawatt cable is being developed in a joint venture [...]
FTSE 100 closes higher on new coronavirus drug hopes June 16, 2020 The FTSE 100 extended its gains this afternoon closing up nearly three per cent after a major development in an Oxford University clinical trial. London’s blue-chip index climbed to highs of 3.53 per cent in the afternoon, before closing up 2.96 per cent. It erased Monday’s losses when traders were jittery on second wave fears. [...]