Carney rate cut comment sends pound crashing to two-week low January 9, 2020 The pound slumped to a near two-week low today after Mark Carney warned that the Bank of England (BoE) could cut interest rates to boost the economy. Sterling dropped as much as 0.55 per cent against the dollar to $1.301 as the central bank governor said a cut was possible if weaknesses in the economy [...]
European stocks hit record high as Iran tensions subside January 9, 2020 European stocks nudged up to a record high this afternoon as investors reacted to a waning in Middle East tensions and renewed hopes of a US-China trade deal. The pan-European Stoxx 600 index rose as much as 0.7 per cent to hit 421.43, before easing back to just under 420. Read more: Donald Trump says [...]
Financial services lifeboat says only a handful of London Capital & Finance investors eligible for compensation January 9, 2020 The Financial Services Compensation Scheme (FSCS) today announced the “disappointing” news that only a small number of investors in collapsed mini-bond company London Capital & Finance (LCF) are eligible for compensation. It said it would protect the 159 bondholders who switched from stocks and shares ISAs to LCF bonds. The FSCS said it is unable [...]
Putin and Erdogan launch Turkstream oil pipeline January 8, 2020 Russian president Vladimir Putin and his Turkish counterpart Recep Erdogan today opened the Turkstream oil pipeline in Istanbul. The 930km pipeline, which crosses the Black Sea, will carry oil to southern Europe in a move that will allow Russia to reduce its shipments via Ukraine. Read more: Russian pipeline Nordstream 2 gets final approval In [...]
NMC Health stocks fall after $490m sell off flagged by major shareholders January 8, 2020 NMC Health’s stock price plummeted this morning after news that two of its controlling shareholders were looking to offload $490m (£373.53m) of shares. Shares in the healthcare company are down 14 per cent to 1283p as the market reacted to a statement saying Mohamed al-Qebaisi and Khalifa Butti al-Muhairi were looking to offload their substantial [...]
What the return of Middle East tensions could mean for markets January 8, 2020 | City Talk Last week’s assassination of Qassem Soleimani, the head of the Iranian Revolutionary Guards’ overseas forces, has reignited tensions in the Middle East and sent tremors through asset markets. The oil price has risen sharply to over $70 a barrel at the time of writing, amid concerns that tensions in the region will impact supply. Meanwhile, [...]
The changing face of income January 8, 2020 | Sponsored Henderson High Income Trust celebrated its 30th anniversary in 2019, having launched in 1989. This was the same year that Tim Berners-Lee invented the World Wide Web. Given Henderson High Income provides shareholder with a high dividend income by predominately investing in UK companies, this article looks at how the internet has led the UK market [...]
South American tribe tries to block £240m Amerisur takeover January 7, 2020 A London law firm is acting on behalf of a Colombian tribe in an attempt to block the takeover of Amerisur Resources by a larger energy firm. Leigh Day, which is representing members of a tribe who live by Colombia’s Putumayo river, has tried to secure an injunction against Geopark’s £240m acquisition of Amerisur, which [...]
Premier Oil creditor ‘will take all steps to oppose’ refinancing plan January 7, 2020 North Sea explorer Premier Oil’s largest creditor, hedge fund Asia Research and Capital Management (ARCM), has said it will fight the oil company’s plans to extend its debt maturity and pursue several acquisitions. The fund, which holds more than 15 per cent of Premier’s debt instruments, issued a statement after the FTSE 250 firm said [...]
Middle East tensions to raise fuel prices for UK drivers January 7, 2020 Ongoing tensions in the Middle East will have an impact on UK drivers, with fuel prices set to rise at least 2p a litre in the next two weeks, according to the RAC. Simon Williams, the RAC’s fuel spokesman, said that dispute between the US and Iran “will cause the oil price to go up [...]