Easyjet and Carnival poised to drop out of FTSE 100 June 2, 2020 Easyjet and cruise operator Carnival are set to lose their positions in the FTSE 100 after the coronavirus crisis sent the value of their shares crashing. The travel restrictions have hit the budget airline hard as it lost as much of two thirds of its market value during the peak of the crisis. There will [...]
Oil prices at three-month highs ahead of Opec meeting June 2, 2020 Oil prices closed in on three-month highs this afternoon amid expectations that major producers would agree to extend record production cuts at this week’s Opec meeting. The oil producer cartel and allies including Russia are now set to meet on 4 June to discuss maintaining the curbs, which amount to 9.7m barrels per day. As [...]
FTSE 100 rises as countries emerge from coronavirus lockdowns June 2, 2020 The FTSE 100 and global stocks have risen for the second day this week as investors cheer the reopening of economies around the world. London’s blue-chip index was up 0.9 per cent in early-afternoon trading at 6,220. It rose 1.4 per cent yesterday after US President Donald Trump stopped short of reigniting his trade war [...]
Ofgem unveils £350m scheme to support struggling energy suppliers June 2, 2020 Ofgem has today unveiled a £350m scheme to support struggling energy suppliers which do not possess an investment grade credit rating. As a result of the coronavirus crisis, many households have defaulted on the payment of energy bills, which has heaped pressure of electricity and gas suppliers. In an open letter, Ofgem chief executive Jonathan [...]
Oil prices rise ahead of OPEC meeting on further production cuts June 2, 2020 Oil prices rose today ahead of a meeting of major oil producers that could lead to further output cuts to shore up prices. Brent crude LCOc1 futures rose 0.94 per cent, or 36 cents, to $38.68 a barrel this morning. West Texas Intermediate (WTI) crude CLc1 futures rose 0.73 per cent, or 26 cents, to [...]
Asian stocks rise as markets pin hopes on global economic recovery June 2, 2020 Asian stocks ground out gains overnight as traders chose to focus on the prospects of a global economic recovery from coronavirus over US-China fears. Japan’s Nikkei jumped 1.3 per cent on Tuesday but Hong Kong’s Hang Seng index rose a comparatively small 0.6 per cent. President Donald Trump’s threat to bring in the military to [...]
London Stock Exchange finds broad backing for shorter trading hours June 1, 2020 The London Stock Exchange (LSE) has found strong support for shorter trading hours after a public consultation with the industry. Feedback from the LSE’s public consultation found a “significant majority” of respondents thought a reduction of market hours “could lead to improvements in diversity and wellbeing”. A small number suggested a “lunch break” as an [...]
Markets live: FTSE 100 gains fade on US-China tensions as Wall Street wobbles June 1, 2020 The FTSE 100 pared some of its gains amid simmering tensions between the US and China over Beijing’s crackdown on semi-autonomous Hong Kong. Despite the concerns, US President Donald Trump stopped short of ripping up the US-China trade deal over China’s actions in the city-state. However, stocks surrendered some of their earlier gains as reports [...]
Petropavlovsk pours cold water on UGC merger reports June 1, 2020 Russian gold mining giant Petropavlovsk has poured cold water on reports that it is considering a potential merger deal with largest shareholder UGC. In an interview with the Telegraph, the FTSE 250 firm’s chief executive Pavel Maslovskiy said that discussions between the firms were at an early stage but the deal could “definitely happen”. If [...]
Asian stocks hit three-month high as US-China deal stays intact June 1, 2020 Asian stocks have risen to a three-month high despite US-China tensions, after President Donald Trump stopped short of economic retaliation against Beijing over Hong Kong on Friday. Markets in Asia were also unfazed by the fiery protests raging in the US after the death of black man George Floyd at the hands of police. Some [...]