FTSE 100 ‘in panic mode’ as coronavirus fears push it into red January 27, 2020 FTSE 100 stocks have fallen deep into the red today as fears rise over the spread of coronavirus, which has now claimed 81 lives in China. Britain’s blue-chip index was down 2.3 per cent by 2pm at 7,412 as hoteliers, airlines and luxury goods firms with links to China suffered. As the death toll mounted, [...]
Mattress startup Casper slashes valuation ahead of IPO January 27, 2020 Casper Sleep has said it expects its initial public offering (IPO) valuation to be well below the $1.1bn (£842m) the online mattress retailer had commanded in a recent funding round. In a regulatory filing in New York today, Casper said it expects its offering of 9.6 million shares to be priced between $17 and $19 [...]
Regulatory burden dampening appeal of UK IPOs, survey finds January 27, 2020 Increased regulatory burdens and listing requirements are denting private companies’ appetite to list in the UK, a new survey has found, as the London market grapples with weakened demand. Last year marked the London Stock Exchange’s quietest year since 2009, with just 36 companies listing on the exchange, while the number on the alternative AIM [...]
ITM Power sees losses widen amid joint venture optimism January 27, 2020 Clean energy company ITM Power this morning reported a widened interim loss due to ongoing legacy issues related to the firm’s Shell Refhyne project. The company, which manufactures hydrogen fuel storage cells, fell to a £8.3m loss, 84 per cent higher than last year’s £5.3m loss. This came despite ITM doubling its revenue to £2.4m. [...]
Oil stocks fall as coronavirus hammers oil prices January 27, 2020 Shares in oil and mining firms slipped this morning as oil prices continued to tumble, with fears over the coronavirus driving down demand for fuel. Brent crude fell over 3.5 per cent to hit $57.78, its lowest levels since October, after sixth straight sessions of decline. West Texas Intermediate fell 3.5 per cent to $52.30. [...]
Petra Diamonds revenue falls but glimmers of hope remain January 27, 2020 Precious stone miner Petra Diamonds said that its revenue fell six per cent in the first half of the financial year due to slowing demand in Asian markets. The firm sold 1.7m carats for $193.9m (£148.5m) in the period, compared to $207.1m in the same period in 2019. Anti-government protests in Hong Kong, as well [...]
Octopus limits losses as customer base triples January 25, 2020 Challenger energy supplier Octopus more than tripled its customer base in the last financial year, growing from 199,000 to 691,000 households by April 2019. The company, which now has over 1.4m customers, also increased its revenue by 256 per cent to £460m in the same period, today’s annual results showed. Notably, considering its rapid growth, [...]
Octopus tops energy supplier rankings for second year in a row January 25, 2020 Challenger energy supplier Octopus cemented its hold at the top of consumer group Which?’s annual customer satisfaction survey, as so-called Big Six firms languished down the rankings. The biggest six energy companies – British Gas, Eon, EDF, Npower, Scottish Power and SSE (now part of Ovo) – all finished in the lower third of the [...]
FTSE 100 leaps after WHO eases coronavirus fears January 24, 2020 The FTSE 100 stormed ahead today, more than clawing back the losses incurred yesterday as investors’ fears over the spread of the coronavirus mounted. The World Health Organisation yesterday stopped short of declaring the outbreak in China an emergency for the rest of the world. European equities gained in response today, before posting further jumps [...]
Australian Dollar to GBP – Could this be one to watch? January 24, 2020 | City Talk Singapore Dollar Fears of the coronavirus which has been spreading from China have affected global market sentiment. This week in Singapore December consumer price inflation results beat expectations; with food, transport, communication, and education costs the highlights. Beating November’s 0.6 per cent and the prediction of 0.7 per cent, December’s 0.8 per cent result is in line with the Monetary Authority of Singapore [...]