Gold hits record high – but is it really too expensive? July 29, 2020 | City Talk Even as it reaches new highs, we don’t think it’s time to grow concerned about the price of gold, or gold equities. Here’s why. The gold price has been rising steadily and on Monday (27 July) hit an all-time high of $1,944/oz, beating its previous record high of $1,922 from 2011. Chart 1: The gold [...]
What has driven stock market returns and what could drive them in the future? July 29, 2020 | City Talk Increasing valuations have been the main driver of stock market returns since Covid-19, but when we look over the past five years, we find a different set of drivers. Since the outbreak of Covid-19, markets have climbed a wall of worry, despite cuts to corporate earnings, forecasts and dividends. Increasing valuations have been the main [...]
Markets live: FTSE 100 up but US stocks down amid stimulus hopes July 28, 2020 The FTSE 100 rose but US stocks fell as coronavirus cases climbed around the world and Republicans and Democrats prepared to debate a new stimulus package amid new vaccine trials The UK’s main stock index was 0.3 per cent higher in afternoon trading at 6,120 points after briefly slipping into the red. The FTSE 250 [...]
PwC refuses to audit miner Petropavlovsk amid board room battle July 28, 2020 Big Four auditor PwC has said that it will not work with gold miner Petropavlovsk due to concerns over corporate governance at the FTSE 250 firm. Since early July, the Russian focused miner has been gripped by infighting, with two rival groups of shareholders battling for control of the company. At the firm’s last board [...]
SwissBorg TALKS to BEQUANT- A Day in the Life of Alex Fazel July 28, 2020 | City Talk Alex Fazel is Chief Partnership Officer at SwissBorg- a trusted and accessible wealth management ecosystem powered by blockchain technology. Our ‘Day in the Life’ series continues today with an interview with Alex Fazel to discuss SwissBorg, Digital Assets and how robot advisory is the future of wealth investment. What is usually the first thought that [...]
Gold hits record $1,980 high as dollar weakens July 28, 2020 Gold hurtled to record peaks today before the sheer scale of its gains drew a burst of profit taking, which in turn helped the dollar up from two-year lows. The precious metal had stormed almost $40 higher at one point to reach $1,980 an ounce XAU=, only for a wave of selling to slap it [...]
Video: Is Big Tech under threat? July 28, 2020 | City Talk In this short video Sean Markowicz explains why the market dominance of big tech firms might prove to be a threat to their own future performance. While many businesses are struggling under the global lockdown, the largest technology companies are thriving. Firms such as Amazon, Microsoft, Apple, Google and Facebook have all seen increased demand [...]
Greenland gold miner AEX to list on AIM market after £42.5m raise July 27, 2020 Greenland-focused gold miner AEX Gold will be admitted to London’s junior AIM market on Friday after raising £42.5m through a share placing today. The company had hoped to raise £45m through the initial public offering, one of the very few flotations on a London bourse since the coronavirus pandemic struck. AEX placed 94m shares at [...]
Dollar hits two-year low as US coronavirus cases surge July 27, 2020 The US dollar slumped to a two-year low today as a sharp spike in coronavirus cases across the country weighed on investor sentiment. The dollar index dipped 0.6 per cent to its lowest level since June 2018 today, sharpening fears that the currency is on track for its worst month since April 2011. The slump [...]
Markets live: Aviation stocks drag on FTSE 100 but US stocks climb July 27, 2020 The FTSE 100 fell today as the UK added Spain back onto its quarantine list, but US stocks rose as investors pegged their hopes on the likelihood of more stimulus. The UK’s blue-chip index was down 0.2 per cent at 6,110 points in afternoon trading. The FTSE 250 was 0.6 per cent lower. Read more: [...]