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 [...]
Npower announces major restructuring which could cost 4,500 jobs November 29, 2019 Struggling energy firm Npower today announced a restructuring of its UK business that could cost thousands of jobs. Unions sources said the shake-up could lead to 4,500 UK job losses and the closure of a number of call centres, the Mirror reported. Yesterday, Npower reported that it had lost 261,000 customers in the third quarter, [...]
UBS wealth arm pessimistic about UK earnings in 2020 November 28, 2019 UBS Global Wealth Management (GWM) has said it expects earnings growth for UK equities to flatline in 2020, regardless of which party wins the upcoming General Election. Analysts at the Swiss banking giant’s wealth arm said that if the Tory party wins and pushes through a Brexit deal, the benefits will be limited by fresh [...]
Jadestone doubles quarterly revenue as production amps up November 28, 2019 Independent oil and gas explorere Jadestone doubled their revenue for the third quarter year on year as production rose at its Montara well in Australia. Read more: Jadestone Energy shares soar on the back of New Zealand purchase The figures Revenue for the quarter was $62.5m, nearly double the same period in 2018, when it [...]
Saudi Aramco IPO on track as retail tranche oversubscribed November 28, 2019 Retail orders for Saudi Aramco’s upcoming initial public offering (IPO) have reached 38.1bn Saudi riyals (£7.9bn), surpassing expectations for this section of the float. Aramco had set aside one third – roughly a billion – of the shares in its 1.5 per cent offering for retails investors, but lead manager Samba Capital announced today that [...]
Npower loses over 260,000 customers in the third quarter of 2019 November 28, 2019 Big Six energy supplier Npower lost 261,000 customers in the third quarter of 2019, as large providers continue to haemorrhage clients to smaller challenger brands. The figures take total customer losses for the year for the company, which is owned by German power giant Innogy, to 447,000. Read more: 5m customers switch energy supplier in [...]
FTSE 100 falls below 7,400 after sterling’s election poll surge November 28, 2019 The FTSE 100 sank below 7,400 points in early trading as markets responded to a surge in sterling and China lashing out at Donald Trump’s endorsement of Hong Kong protesters. The US President signed two bills into law overnight aimed at scrutinising China’s influence in the territory and banning exports of crowd control munitions like [...]
Cairn Energy quits Norway with $100m subsidiary sale November 27, 2019 Edinburgh-headquartered Cairn Energy this morning announced it would sell its final Norwegian oil subsidiary to Solveig Gas for $100m (£77.7m). The disposal of Capricorn Norge AS, which is expected to complete in January, will see Cairn reduce its committed exploration capital expenditure by $100m. Read more: Cairn Energy shares drop 10 per cent The FTSE [...]
Abu Dhabi and Kuwait funds plan investment in Saudi Aramco IPO November 27, 2019 The national investment bodies of Abu Dhabi and Kuwait are planning investments in Saudi Aramco’s upcoming initial public offering (IPO). Multiple sources told Reuters that the Abu Dhabi Investment Authority (Adia) is taking a stake worth at least $1bn (£780m). Any final decision on the size of the investment will need board approval. Read more: [...]