Stubborn Boris could scupper 2020 GBP recovery December 2, 2019 | City Talk As we enter the final pre-election stretch, markets are faced with a number of potential consequences; from a Conservative-led Brexit, to a referendum and potential withdrawal of article 50 under a Lib/Lab/SNP alliance. However, one thing is for sure; there is a huge amount of uncertainty irrespective of the outcome. Should Corbyn manage to enter [...]
UN climate change summit opens in Madrid amid last chance warnings December 2, 2019 The UN Climate Change conference is underway in Madrid, as governments come together to take the next steps in the climate change process. Against a backdrop of a year of especially severe weather, the two weeks of talks offer delegates the chance to resolve outstanding issues from the Paris accord, such as rules for carbon [...]
Institutional tranche of Saudi Aramco IPO twice oversubscribed December 2, 2019 The institutional tranche of Saudi Aramco’s upcoming initial public offering (IPO) is more than twice oversubscribed, according to the sale’s managers. Investors have put in 144.1bn riyals (£29.7bn) worth of bids since 17 November, around 4.6bn shares. Read more: Saudi Aramco IPO on track as retail tranche oversubscribed The institutional tranche closes at the end [...]
Are we witnessing the US dollar’s fall from grace? December 2, 2019 | City Talk November’s multi-asset chart of the month highlights how a global shortage of US dollars could be reversing. This could signal the beginning of a weak phase for the currency. A world in which money is scarce might appear to be a far-fetched idea. But for US banks in the business of taking deposits and making [...]
EU finance chief warns UK to stay closely aligned post-Brexit December 2, 2019 The European Union’s finance commissioner has warned the UK that the City could be cut off from continental markets after Brexit if its regulations do not stay closely aligned. Valdis Dombrovskis, who is set to become a vice-president of the European Commission, said access to the EU’s markets will require Britain not to “engage in [...]
Saudi Arabia pushing Opec for deeper oil production cuts ahead of Aramco IPO December 2, 2019 Saudi Arabia is seeking to push Opec into deepening oil cuts until at least June 2020 as it prepares for December’s listing of Saudi Aramco. Sources told Reuters that Opec and its allies, including Russia, were currently discussing a deal to add 400,000 barrels per day to existing production cuts of 1.2m barrels per day. [...]
FTSE 100 climbs higher as China manufacturing PMI offsets US-China trade war doubts December 2, 2019 Strong Chinese manufacturing PMI pushed the FTSE 100 higher today despite a lack of progress between the US and China on a trade deal. London’s blue-chip index rose to 7,395.5 points in early trading, up 0.67 per cent. Read more: Asian stocks climb as Chinese manufacturing PMI improves France’s Cac climbed 0.65 per cent to [...]
Asian stocks climb as Chinese manufacturing PMI beats expectations December 2, 2019 Major Asian markets showed gains on December’s first trading day after a welcome surprise from Chinese factory data. The Nikkei 225 rose one per cent on Monday, its highest increase in a month, as data showed that Chinese manufacturing and domestic demand grew, suggesting Beijing’s stimulus measures are beginning to have an effect. Read more: [...]
Who’s buying UK shares and what does it tell us? November 29, 2019 | City Talk High demand for UK-quoted companies from large and experienced buyers suggests other investors may be overlooking an opportunity. Will a UK general election on 12 December help break the Brexit stalemate? Possibly, possibly not. The ongoing uncertainty means investors of almost every stripe remain cautious about buying UK equities (shares). I stress ‘almost’ because some [...]
FTSE 100 opens lower as trade war worries weigh November 29, 2019 The FTSE 100 opened lower this morning as escalating trade tensions between the US and China took their toll. London’s blue-chip index was down 0.5 per cent in early trading, as stuttering trade talks were compounded by a lack of economic data or earnings. Read more: EU and UK feel the pain as global pain [...]