What happens to high yield bonds in times of market stress? November 6, 2019 | City Talk The current macroeconomic backdrop is creating challenges for investors. Global growth is slower and inflation is benign. Meanwhile, central banks appear to be returning to more accommodative policies and geopolitical tensions have increased. Downturns in the business cycle, often caused by adverse economic conditions, can lead to a number of trends that are negative for [...]
Petrol price falls for third consecutive month in October November 6, 2019 The price of petrol fell for the third month in a row in October, according to data from RAC fuel watch, with a litre of unleaded nearly 3p cheaper than it was at the beginning of August. The average price of a litre of unleaded dropped 1.57p to 126.42p at the end of the month, [...]
OPEC chief optimistic for 2020 as oil price rises one per cent November 5, 2019 The oil market outlook for 2020 may have upside potential, the secretary-general of producer group OPEC said today, appearing to underplay any need to cut output more deeply. Mohammad Barkindo said he was more optimistic about next year’s outlook than he had been last month, when he said all options, including a deeper cut to [...]
Gold hits highest values since 2013 amid geopolitical tensions November 5, 2019 Renewed economic concerns and rising geopolitical tensions has driven the value of gold to a six and a half year high, according to the Refinitiv GFMS gold survey. In the third quarter gold’s dollar value rose to an average of $1,472 (£1,144.5) per ounce, a 12 per cent increase on the previous quarter and 22 [...]
UK mulls change in IPO rules to attract tech startups November 5, 2019 Downing Street has reportedly held discussions with representatives from the investment industry about changing the UK’s listing rules to encourage high-growth firms such as tech startups to float in London. The talks were part of a push by Number 10 to help boost the City after the UK leaves the EU at the end of [...]
Private equity firm KKR raises record €5.8bn European fund November 5, 2019 US buyout firm Kohlberg Kravis Roberts (KKR) has raised its largest ever European fund at €5.8bn (£5bn), as investors look to the region for higher returns. The flagship fund, which launched in February with an initial target of €5bn, will focus on private equity deals in Western Europe. Read more: European private equity buyouts climb [...]
Gem Diamonds shares rise despite third quarter price drop November 5, 2019 Gem Diamonds’ share price was up three per cent today despite prices being six per cent lower than in the last quarter. Achieved prices per carat fell from $1,501 (£1164) to $1,417. Read more: Petra Diamonds loses its sparkle as annual profits plunge The leading diamond producer said that it sold 25,631 carats in the [...]
Government urged to make London Stock Exchange a battleground in fight against autocracies November 5, 2019 The government should give itself the power to block London Stock Exchange listings on national security grounds as a check on the “influence and reach” of autocratic states, a committee of MPs said. In a report released today, the foreign affairs committee (FAC) said the government is failing to engage with the threat to international [...]
Weir Group warns over oil and gas profits after orders decline in third quarter November 5, 2019 Scottish engineers Weir Group today announced a 32 per cent decline in orders for its oil and gas division in the third quarter among challenging market conditions in North America. In response, the company announced that they had undertaken a £30m cost reduction programme in the division, including reducing its North American workforce by around [...]
FTSE 100 climbs higher on US-China trade war hopes as pound slips November 5, 2019 The FTSE 100 opened higher as it mirrored a rise in Asian markets and Wall Street overnight amid growing optimism over US-China trade negotiations. Buoyed by reports that President Trump may remove tariffs from some Chinese goods, Japan’s Nikkei climbed 1.8 per cent while China’s Shanghai Composite moved 0.5 per cent higher. Read more: US [...]