Investec fires starting gun on £1.8bn float of asset management business Ninety One January 31, 2020 Investec today fired the starting gun on the float of its asset management business in a listing expected to value the business at between £1.6bn and £1.8bn. Investec announced the new business, Ninety One’s, expected intention to undertake an initial public offering (IPO) today. Ninety One intends to apply for admission of its shares to [...]
SSE on course despite slight lag in renewables January 31, 2020 Energy giant SSE marked its first quarter out of the household energy sector by saying that it is on course to deliver on its earnings target for the year. The announcement comes despite the firm’s renewable output slipping five per cent behind expectations in the first nine months of the year. The former Big Six [...]
Quiz: how much do you know about Brexit? January 31, 2020 | City Talk Brexit has saturated the media over the last few years. But how much do you really know about it? Do you know your hard Brexit from your soft Brexit? How closely have you been watching the currency exchange markets since the June 2016 referendum results were revealed? Take our quick trivia quiz and find out… [...]
Traders call time on long hours following consultation January 30, 2020 Traders have today called for market trading hours to be reduced by 90 minutes to seven hours. The Association for Financial Markets in Europe (AFME) and the Investment Association (IA) have responded to the London Stock Exchange’s consultation on the issue. They are campaigning for a reduction in hours to either 9am-4pm or 9.30am-4.30pm. AFME [...]
Rate decision announcement from the Bank of England January 30, 2020 | City Talk For many investors the outcome was too close to call, and therefore offered potential heightened currency volatility. Foreign exchange markets had attributed a 50/50 chance of an interest rate cut, leaving the pound with a burden of uncertainty in the run up to the decision. It also meant it traded with a softer tone over [...]
Brexit: how did we get here? January 30, 2020 | City Talk How did the Brexit timeline lead us here, what impact has it had on the pound and how can the resulting foreign exchange risks be mitigated? The UK began preparations to withdraw from the European Union back in June of 2016. The process has had an undeniable impact on the volatility of the exchange market [...]
Centamin shares on the rise as gold production grows January 30, 2020 Centamin’s shares rose over five per cent today as the gold miner’s fourth quarter results vindicated its decision to resist a takeover offer from mining giant Endeavour. Gold production from the firm’s flagship Sukari mine rose eight per cent year on year to 148,387 ounces for the last quarter. Full year gold production rose two [...]
Oil prices fall again as coronavirus continues to weigh on demand January 30, 2020 Oil prices fell again today after a brief respite on Wednesday as the worsening coronavirus outbreak continued to take its toll on economies. Brent crude fell two per cent to $57.68, whilst West Texas Intermediate showed a similar decline to $52.32. The renewed fall came after a Brent crude rallied by 0.5 per cent yesterday, [...]
Shell’s final quarter profit halves amid oil price slump January 30, 2020 Shell saw its final quarter income halve as the continued slump in global oil prices knocked the company’s full year profits. The figures Shell’s full year income attributable to shareholders for 2019 was $16.5bn (£12.7bn), a 23 per cent fall from last years $21.4bn. In the final quarter, shareholder income fell 48 per cent from [...]
FTSE 100 back in the red as coronavirus surpasses Sars outbreak January 30, 2020 The FTSE 100 fell sharply in early trading today as European stocks sank into the red after the number of coronavirus cases surpassed the total for the Sars outbreak in the early 2000s. Coronavirus has now killed 170 while the number of infections has risen to 7,700. There were around 5,200 cases of Sars, which [...]