Trading the covid commodities contango May 26, 2020 | Sponsored In the last 12 years, the oil market has thrice collapsed and twice recovered. But this latest downturn, driven by a covid-tainted drop in demand and a Russo-Saudi price war, has analysts scratching their heads. Can the market rebound from this? The price of US oil turned negative for the first time in history last [...]
Asian stocks rise on global lockdown easing optimism May 26, 2020 Asian stocks jumped today on optimism over the loosening of lockdowns around the world and hopes the global economy can get back on track. Japan’s Nikkei 225 rose 2.8 per cent to 21,322, MSCI’s broadest index of Asia-Pacific shares outside Japan added1.4 per cent and South Korea rose 1.1 per cent. There were also hopes [...]
Coronavirus: New York Stock Exchange trading floors reopen May 26, 2020 The New York Stock Exchange (NYSE) will today reopen its trading floors following a two-month closure caused by the coronavirus outbreak. In March the bourse announced it would close its trading floor and move to electronic trading for the first time in its history after one employee and a trader tested positive for Covid-19. In [...]
Markets live: FTSE 100 and US stocks slip on rising Hong Kong tensions May 22, 2020 The FTSE 100 closed in the red and US stocks fell as investors weighed up rising US-China tensions in the wake of Beijing’s move to assert its authority in Hong Kong. The UK’s blue-chip index fell around two per cent this morning but pared some of its losses throughout the day. It finished 0.3 per [...]
BP slashes management team in half amid green energy push May 22, 2020 BP is cutting the size of its top management team by more than half as part of new boss Bernard Looney’s plan to make the oil giant a net zero emissions company. The FTSE 100 giant will cut its leadership positions to roughly 120 from 250 with many veteran executives set to leave in the [...]
Facebook shops for customers as e-commerce explodes May 22, 2020 | City Talk Do you remember when you needed a new item of clothing and headed to the high-street to browse the shops? Perhaps a few try-ons in different places before making your selection? Coronavirus means that’s obviously not possible at the moment, meaning a choice of either waiting until lockdown passes or going online. More and more [...]
Covid-19: the inescapable truths faced by investors May 22, 2020 | City Talk Investors will need to be more agile than ever as Covid-19 reinforces many of the trends driving the world economy prior to the outbreak. “At the beginning of the plague, when there was now no more hope but that the whole city would be visited; when all that had friends or estates in the country [...]
Why’s everyone talking about Italy (again)? May 22, 2020 | City Talk Italy went into this crisis in a more precarious situation than most. Here Senior European Economist and Strategist Azad Zangana explains why. This is going to be the deepest recession for the eurozone economy in modern times. Just as Italy has been one of the hardest hit nations in the Covid-19 crisis, there are fears [...]
Coronavirus: Is this the end for the North Sea oil industry? May 22, 2020 For the last couple of months, the headlines coming out of the North Sea oil fields have made for pretty grim reading. In the past decade or so, the industry, which employs around 150,000 people in the UK, has already been battered by two price implosions, in 2008 and 2013. However, the hit it has [...]
Time Out kicks off £49m placing and open offer to raise emergency cash for coronavirus shutdown May 22, 2020 Media and events company Time Out today said it was seeking to raise £49m via a share placing and open offer to bolster its balance sheet in the face of the coronavirus pandemic. The company has been hit by a closure of its food hall markets and the suspension of its print editions alongside a [...]