Small tech firms rake in record £4bn investment in 2019 – and deals continue despite coronavirus June 25, 2020 Equity investment in the UK’s smaller tech businesses soared to £4bn last year, the highest figure on record – and despite a coronavirus-induced slowdown, deals are still being done. The highest investment total ever meant that Britain’s tech companies enjoyed 27 per cent more funding than the previous year, according to the British Business Bank’s [...]
Global stocks sink deep into red as second wave fears bite June 24, 2020 Global stocks plunged further into the red this afternoon as fears of a second wave of the pandemic mounted and investors worried about a slowdown in the global economic recovery. The FTSE 100 closed down 3.11 per cent as growing numbers of new infections compounded fears over a second wave of cases, sending jitters through [...]
Asian stocks pass four-month high despite rising coronavirus cases June 24, 2020 Asian stocks cleared a four-month high overnight as investors remained stubbornly upbeat on the outlook for a re-opening of the global economy even as cases of the coronavirus looked to be accelerating to new peaks. MSCI’s broadest index of Asia-Pacific stocks outside Japan added 0.5 per cent to reach its highest since pandemic lockdowns first [...]
FTSE 100 and Wall Street gain on signs of economic recovery June 23, 2020 The FTSE 100 closed up and Wall Street posted strong gains on Tuesday afternoon after new economic data signalled that business activity across the US, UK and the Eurozone was recovering faster than expected. Having risen steadily throughout the morning, the FTSE 100 pushed ahead in afternoon trading today as traders welcomed the most significant [...]
Shell announces major restructuring to accelerate net zero push June 23, 2020 Oil supermajor Shell will undergo a large-scale restructuring by the end of the year as the firm seeks to shift its focus to zero-carbon activities. Reuters reported that chief executive Ben van Beurden revealed the plan in a video interview released on Shell’s internal website. In the video, van Beurden said that the restructuring would [...]
Oil prices recover as Donald Trump says China deal still intact June 23, 2020 Global oil prices pushed higher this morning after US president Donald Trump soothed traders’ nerves by assuring the market that his long-sought trade deal with China was intact. The previous session had seen the market suffer a bout of jitters after White House trade adviser Peter Navarro said that the hard-fought deal was “over”. However, [...]
Big tech vs the market: what you need to know June 23, 2020 | City Talk Big tech has led the global market recovery in the wake of Covid-19. Can the dominance of the FAMAGs continue? On 8 June the S&P 500 of US stocks recovered all their Covid-19 losses for 2020. The so-called FAMAGs (Facebook, Amazon, Microsoft, Apple and Alphabet (Google’s parent company)) led that recovery. Even before the pandemic, [...]
Trump adviser walks back comments saying US-China trade deal is ‘over’ June 23, 2020 White House trade adviser Peter Navarro said on Monday the US trade deal with China “continues in place”, walking back on his earlier remarks that the pact was ‘over’, stoking volatility in markets already frazzled by the coronavirus pandemic. Navarro said his comments were taken “wildly out of context”, while US President Donald Trump confirmed [...]
The City View: With Billy Hult, President of Tradeweb, on markets and management during a crisis June 23, 2020 In this episode Christian is joined by Billy Hult, President of Tradeweb, the Nasdaq-listed trading giant. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Billy talks about how his platform adapted to market volatility and how the market adapted to the pandemic and the US Fed’s response. He also shares his thoughts on leadership during a crisis and [...]
FTSE 100 finishes in the red amid second wave concerns June 22, 2020 The FTSE 100 has started the week on the back foot amid growing concern over a second wave of coronavirus infections. As markets opened, the index fell 0.94 per cent to begin the day in the red at 6,233.28 points. However, the FTSE 100 trimmed some of its losses to finish 0.76 per cent down [...]