Former LSE boss Rolet joins Shore Capital as non-exec chairman May 17, 2020 The former boss of the London Stock Exchange Xavier Rolet has joined brokerage firm Shore Capital as the chairman of its capital markets business. In his decade at the head of London’s bourse, Rolet transformed the LSE into one of the world’s largest indices by market capitalization. When he joined, its valuation stood at £800m, [...]
British Airways, Next and ITV at risk of credit rating downgrades May 15, 2020 Some of the UK’s biggest companies are at risk of having their credit ratings downgraded and becoming “fallen angels”, ratings agency S&P has said, raising the possibility of a sharp rise in borrowing costs in the midst of the worst downturn since the 1930s. Big names such as Next, British Airways and ITV are in [...]
FTSE 100 rises but US stocks stall after dire retail sales data May 15, 2020 US stocks have fallen in the wake of dire retail sales data, even as the FTSE 100 has risen on the final day of a choppy week of trading that has seen investors second-guess the recent stock market rally. The UK’s FTSE 100 index was up 1.5 per cent this afternoon at 5,785 points in [...]
FTSE 100 tumbles as investors doubt coronavirus recovery May 14, 2020 The FTSE 100 has fallen dramatically and US stocks have turned lower as doubts about the economic recovery set in following a gloomy speech by the governor of the US Federal Reserve. Britain’s FTSE 100 index dropped 2.8 per cent to finish at 5,741 points. That wiped out all of May’s gains. The mid-cap FTSE [...]
FTSE 100 and US stocks fall on fears of coronavirus second wave May 13, 2020 The FTSE 100 and US stocks have fallen as fears of a second wave of coronavirus infections spook traders and US-China tensions rise over the pandemic. The UK’s blue-chip stock index was 1.2 per cent lower in afternoon trading. This took the FTSE 100 below the 6,000 mark which it passed yesterday for only the [...]
Why staying close to your accountant matters more now May 13, 2020 | City Talk Accountants exist to ensure the accuracy of financial statements and advise how to save money or boost revenue. The coronavirus pandemic, then, with its profound and deepening impact on the economy has jolted the profession like all others. Depending on their role, accountants have been battling to keep on top of the unprecedented flurry of [...]
Exiting lockdown: where’s ready, where’s not, and where risks a second wave? May 13, 2020 | City Talk In collaboration with Schroders’ Data Insights Unit, we’ve looked into the global state of lockdown and compared this with estimated reproduction numbers (R) to identify who is ready to exit lockdown, who is not and who is potentially exiting prematurely. Here’s what we found in summary: While China and Korea were the first to exit [...]
Premier Oil to seek lower price for BP North Sea fields acquisition May 13, 2020 Premier Oil will seek a lower price for its acquisition of two North Sea oil fields from BP due to the decline in prices for the commodity, its chief executive has said. In January the oil explorer announced a $625m (£509m) deal to buy Andrew Area and Shearwater assets from the major, based on a [...]
TP ICAP revenue surges after first quarter volatility May 13, 2020 Interdealer broker TP ICAP’s revenue rose by almost a fifth in the first quarter, as it benefited from the coronavirus-induced market turbulence. Revenue of £547m was 17 per cent higher than the £469m reported for the equivalent period last year. The broker said the growth reflected “higher client volumes due to the volatile market conditions” [...]
Markets live: US stocks climb as FTSE 100 passes 6,000 points May 12, 2020 US stocks have followed the FTSE 100 higher as investors are cheered by countries’ moves to ease some coronavirus restrictions. Wall Street’s Dow Jones index climbed 0.3 per cent in morning trading. The S&P 500 rose 0.1 per cent and the Nasdaq gained 0.3 per cent. Britain’s FTSE 100 index closed 1.1 per cent higher, [...]