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. [...]
London Stock Exchange celebrates AIM’s 25th anniversary June 16, 2020 The London Stock Exchange (LSE) will this week celebrate the 25th anniversary of AIM, its sub-market for smaller and growing companies. Since its launch in 1995 over 3,800 companies have been admitted to AIM, raising a combined £118bn in equity capital, according to new research by audit firm Grant Thornton. In 2019, AIM-listed companies contributed [...]
US stocks and FTSE 100 tumble as fears of second wave intensify June 15, 2020 The FTSE 100 faltered in afternoon trading, while US stocks sunk into the red as traders remained wary of a second spike in coronavirus infections. London’s blue-chip index opened down 2.05 per cent to 5,980 points, even as retailers began to open their doors for the first time in three months. US stocks dropped sharply [...]
Johanna Kyrklund: Is retail investor surge cause for caution? June 15, 2020 | City Talk With a combination of resurgent markets, seemingly ebullient retail investors and a bleak economic outlook, it may be prudent to tread carefully. It’s an old investment cliché that when your taxi driver starts giving you share tips, it’s time to sell. As someone who has been on the receiving end of cabbie investment advice during [...]
In volatile markets, big ideas are great; practical data is better June 15, 2020 | Sponsored As a trader starting out, at times the advice one reads can feel long on pithy maxims and short on useful advice. The coronavirus has spawned no dearth of “buy low, sell high” blog pieces offering well-intended tips that are ultimately too broad to be of much use. A quick Google search can tell you [...]
Asian stocks, oil prices fall as second wave fears grow June 15, 2020 Asian stocks stumbled on Monday and oil prices slipped as fears of a second wave of coronavirus infections in Beijing sent investors scurrying for safe-havens. Meanwhile, underwhelming data from China further weighed on investor sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.3 per cent with Australian shares off 0.1% and South [...]
How global markets will cope with a second wave June 13, 2020 Fears of a second wave of coronavirus have stubbed out hopes of swift economic recovery around the world, as the possibility of further lockdowns hangs heavy on global markets. While many countries seem to have a grip on the coronavirus crisis, the prospect of new infections in the US hinted in Wednesday’s Federal Reserve meeting [...]
FTSE 100 inches into green despite record plunge in UK GDP June 12, 2020 The FTSE 100 closed 0.23 per cent up on Friday, having spent most of the session inching higher despite data showing the British economy suffered the largest contraction on record in April. While the blue-chip managed to shake a four-session decline, it remained on track for its worst weekly drop in around three months. Cyclical [...]
Sterling sheds gains against dollar as Brexit fears weigh June 12, 2020 The pound shed early gains against the dollar this afternoon as concerns over Brexit coupled with dire UK economic data weighed on sterling. Sterling has been edging lower this week after rising 3.9 per cent against the dollar in last week’s rally. Having recovered briefly this morning to touch $1.2653, the pound soon flattened back [...]