US stocks tumble as oil price plunges and lawmakers debate lockdowns April 20, 2020 US stocks have tumbled at the open as plunging crude oil prices and debates over the timetable for lifting coronavirus lockdown measures weigh on investor sentiment. The Dow Jones index dropped 1.5 per cent in early trading. The S&P 500 fell 1.2 per cent and the Nasdaq slipped 0.8 per cent. European shares also turned [...]
FTSE 100 dragged down by coronavirus oil crash April 20, 2020 The FTSE 100 has turned lower as a slump in oil prices hits energy companies and investor sentiment sours with coronavirus battering the economy. Britain’s FTSE 100 was down 0.8 per cent at 5,743 points in early afternoon trading. It spent much of the morning in the green before plunging oil prices spread gloom over [...]
City grandees demand cash calls accommodate private investors April 20, 2020 Senior City figures are calling for listed companies seeking equity capital to accommodate private investors, amid a fundraising rush. In an open letter to chief executives of UK plc, City stakeholders said they fear rules giving existing stockholders first refusal on new shares will mean private investors will lose out. The letter, first reported in [...]
Italy’s borrowing costs rise as investors await key coronavirus meeting April 20, 2020 Italy’s borrowing costs have risen again today as investors nervously await an EU meeting on Thursday where countries will try to thrash out an agreement on how to tackle the coronavirus fallout. Italian bond yields, which move inversely to prices, have risen in recent weeks as the EU has struggled to find a decisive and [...]
Analysis: US crude oil price collapses as stocks near capacity April 20, 2020 This morning’s collapse in the price of West Texas crude oil has left investors speculating whether US president Donald Trump might bail out the struggling shale industry, which has been decimated by the coronavirus crisis. The US benchmark crude fell below $15 today, its lowest level in 21 years, amid fears that production would have [...]
Plus500 chief executive Asaf Elimelech resigns with immediate effect April 20, 2020 Plus500 chief executive Asaf Elimelech has resigned from the company with immediate effect, after four years at the helm. The group’s chief operating officer, David Zruia, will assume the role of interim boss alongside his day to day responsibilities until a permanent replacement is found. Elimelech has a notice period of 12 months and will [...]
US stocks rise as investors hope for coronavirus breakthrough April 17, 2020 US stocks have risen in afternoon trading despite dire economic data from China as investors grow optimism about a possible coronavirus drug breakthrough. The Dow Jones was up 1.6 per cent in morning trading in the US. The S&P 500 was 1.5 per cent higher and the Nasdaq had risen 0.6 per cent. European shares [...]
Pessimism & reluctance April 17, 2020 | City Talk A moment of nostalgia for sterling and relief for the euro. Sterling was not unduly worried this week, having a surprisingly successful week. Over the eight-day week it strengthened by an average of 0.5%, losing out only to the puzzlingly mismatched Australian dollar and Japanese yen. It added one euro cent and one and one [...]
Netflix’s value hits record $196bn in coronavirus lockdown April 17, 2020 Netflix has become a more valuable company than both US oil giant Exxo Mobil and rival Disney as demand for home entertainment booms amid the coronavirus lockdown. Shares in the streaming company climbed five per cent on Thursday to a new record high of $448, taking its market value to $196bn. At the same time, [...]
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 [...]