London Stock Exchange gets US approval for Refinitiv deal March 16, 2020 US regulators have approved the London Stock Exchange’s (LSE) takeover of financial data firm Refinitiv, the bourse said today. LSE said that the US Committee on Foreign Investment had determined that there were no national security concerns related to the $27bn (£22bn) deal, which was first announced in August last year. The all-share deal would [...]
FTSE 100 plunges despite Fed’s coronavirus ‘bazooka’ March 16, 2020 The FTSE 100 has plunged despite the US Federal Reserve slashing interest rates to near zero in an emergency move to curb the fallout of the coronavirus pandemic. The blue-chip index was last down seven per cent as traders reckoned with the ongoing spread of coronavirus and shrugged off the Fed’s surprise intervention. Airlines and [...]
EU rejects UK’s call for quick agreement on financial services equivalence March 16, 2020 The EU’s head of financial regulation has rejected the UK’s calls for the City’s future access to the bloc’s markets to be settled by the end of June, warning that Brussels’ decision will be based on the extent Britain wants to deviate from EU rules. UK chancellor Rishi Sunak last month called on the EU [...]
Funeral company Dignity one of the leading risers on London Stock Exchange amid coronavirus fears March 16, 2020 Funeral company Dignity was one of the leading risers on the London Stock Exchange this morning in a bleak pointer to who investors think could do well out of the coronavirus epidemic. Dignity was up 2.5 per cent at 333p this morning, amid a stock market rout that came despite a dramatic intervention by the [...]
Sirius Minerals shares suspended ahead of Anglo takeover March 16, 2020 Shares in Sirius Minerals were suspended this morning ahead of the embattled mining firm’s takeover by Anglo American. Shareholders earlier this month approved the controversial £405m acquisition by Anglo, which offered 5.5p per Sirius share. While most Sirius investors bought in at roughly 25p, the bid was accepted as the mining firm desperately sought funding [...]
Coronavirus: Australian shares suffer worst fall on record as Asia slides March 16, 2020 Australian shares today suffered their biggest daily fall on record as analysts warned the global economy was teetering on the brink of a recession. The benchmark ASX200 index closed down 9.7 per cent as the coronavirus outbreak continued to roil global markets. The ASX200 has fallen roughly 30 per cent since its highest in February [...]
Saudi Aramco cuts spending as profit drops 21 per cent following record float March 15, 2020 Saudi Aramco today said it will cut capital spending this year as the oil giant braces for a slump in oil prices caused by the coronavirus outbreak and a price war with Russia. The state-run company broke the record for the largest ever initial public offering (IPO) in December after it raised $25.6bn (£21bn), securing [...]
FTSE 100 climb cools as WHO declares Europe new centre of coronavirus pandemic March 13, 2020 The FTSE 100 made a slight recovery following its worst day of trading since 1987 despite the World Health Organisation declaring the Europe as the new centre of the coronavirus pandemic. London’s blue-chip index rose by 2.46 per cent, or 128.63 points, despite having been up almost six per cent in early trading, to finish [...]
This week: GBP / EUR Update March 13, 2020 | City Talk Brexit concerns faded into the background this week as the market focused on the coronavirus pandemic. At the beginning of the week, UK equities opened around 9% below Friday’s closing levels, putting pressure on sterling. The emergency rate cut from the Bank of England midweek had an immediate effect, pushing the pound lower before it [...]
US stocks rebound after Trump travel ban caused worst crash in 33 years March 13, 2020 US stocks rebounded this afternoon after sinking almost 10 per cent yesterday in the aftermath of Donald Trump’s decision to ban European travel to America. The S&P 500, which triggered an automatic 15-minute pause in trading when it sank seven per cent minutes into yesterday’s open, rose 2.96 per cent today. And the Dow Jones [...]