Man Group funds slump $14bn on coronavirus market chaos April 17, 2020 Hedge fund manager Man Group said today that its funds under management fell 11.5 per cent to $104.2bn (£83.8bn) in the first quarter because of the slump in the markets caused by the coronavirus pandemic. Man Group said it lost $10.7bn on negative investment performance and $3.3bn on currency and other movements. Man’s computer-driven long-only [...]
Oil majors slash spending plans by a quarter as demand collapses April 16, 2020 The world’s biggest oil firms have cut their capital spending programmes by a combined 26 per cent for 2020 due to the collapse in oil prices caused by the coronavirus outbreak. In total, Reuters data shows that the combined sum of the cuts comes to $60.5bn (£48.2bn), as firms seek to conserve cash among an [...]
FTSE 100 stabilises after dire US jobless claims data April 16, 2020 The FTSE 100 stabilised today despite the news that another 5.2m US workers will become unemployed, taking the total number of jobless claims in the last month to over 22m. London’s blue chip index managed a 0.6 per cent rise, despite an earlier wobble, with traders sanguine despite the extraordinary figures. The gains, which left [...]
Sterling falls hard against dollar as UK prepares to extend lockdown April 16, 2020 The pound fell sharply against the dollar this afternoon as the UK looked set to extend its lockdown for a further three weeks despite signs that the peak of the coronavirus pandemic was nearing. The prospect of a further extension, which will keep the country under restrictive measures until early May at least, saw sterling [...]
Latest news: BEQUANT partners with MAINBLOQ April 16, 2020 | City Talk BEQUANT and MAINBLOQ are delighted to announce its partnership, making a serious commitment to building out the technology layer for the emerging digital asset space. As institutions have taken a closer look at the space, both organisations have been busy building the underlying technology including MAINBLOQ’s Smart Order Router and suite of algorithms and BEQUANT’s [...]
BEQUANT partners with BCB Group April 16, 2020 | City Talk BEQUANT has partnered with BCB Group – an FCA regulated business payments provider in the digital assets industry. BEQUANT will be using BCB Group’s multi-currency payment accounts as well as market liquidity in foreign exchange (FX) and cryptocurrency. BEQUANT has been actively developing a one stop solution for institutional clients including its multi-asset exchange, prime [...]
US stocks fall after dire jobless claims data April 16, 2020 US stocks have fallen in the wake of yet more shocking employment data and as states and the federal government debate lifting coronavirus measures. The Dow Jones index was down one per cent in early trading. The S&P 500 had dropped 0.5 per cent but the Nasdaq was 0.2 per cent higher. Stocks were volatile [...]
Shell unveils plan to become a net zero emissions firm by 2050 April 16, 2020 Oil giant Shell has become the latest supermajor to announce plans to become a net-zero energy emissions business by 2050. The firm’s announcement follows similar decisions by rivals like BP, but comes as the oil and gas sector faces its biggest challenge in decades due to the coronavirus-driven collapse of oil prices. The company said [...]
Coronavirus: Global stocks set to sink as economic reality bites April 16, 2020 Global stocks were set to fall today as “ugly” economic data and weak bank earnings suggest a recession is on the horizon. Asian stocks dropped today, with Japan’s Nikkei falling 1.2 per cent while Hong Kong’s Hang Seng index dropped 0.7 per cent. That came after Goldman Sachs, Bank of America and Citi all saw [...]
Oil prices continue slump as prospects for recovery look slim April 15, 2020 Oil prices continued to fall today amid further signs that Opec’s record production cuts would not be sufficient to stabilize the oil market amid a coronavirus-driven recession. Benchmark Brent crude dropped over six per cent for the second consecutive day, falling to $27.50, while West Texas Intermediate fell below $20 to stand at $19.51. The [...]