FTSE 100 follows European stocks upwards after it reopens August 16, 2019 The FTSE 100 copied European stock indices and rose sharply this morning when it finally opened after the worst outage in eight years. Read more: FTSE 100 and 250 reopen after glitch hits morning trading Britain’s blue-chip index had risen 0.4 per cent shortly before 11am UK time. London’s traders were over an hour and [...]
Economy on red alert with yield curve close to inversion August 16, 2019 | City Talk Both the US and UK yield curves are on the verge of inverting. The yield curve has been a reliable predictor of US recessions over the last four decades, less so in the UK. With only one exception, each time the yield curve has inverted, the US economy has entered a downturn within 18 months. [...]
Asian stock markets buoyant despite rising trade tension August 16, 2019 The main Asian stock markets have climbed overnight despite the raging US-China trade war after Beijing hinted at stimulus for its economy. Read more: Markets drop as US and China enter fierce war of words Investors’ spirits were lifted after China’s state planning office said it would act to increase disposable income. China’s Shanghai composite [...]
Breaking ground: Government signals possible change on fracking quake limit August 15, 2019 The government could relax rules on fracking amid pressure from shale gas drillers to defend the future of the controversial industry in the UK. The Business, Energy and Industrial Strategy department (Beis) said today it would look at data gathered at Cuadrilla’s Lancashire fracking site after an assessment from the Oil and Gas Authority. Read [...]
We burn cash: deciphering the WeWork IPO filing August 15, 2019 | City Talk It burns through boats loads of cash, no one knows if it will ever make money and it’s going to be snapped up by millennials with their Robinhood accounts – WeWork is perfect IPO material in 2019. The last funding round valued the company around $47bn, but this looks lofty. 2019 has been hit-and-miss for [...]
European stocks back in red on China trade threat to US August 15, 2019 European stock markets have fallen firmly into the red after China’s finance ministry said the government has to retaliate against the latest US tariffs on $300bn worth of its goods. Read more: Recession warning lights flash red as UK and US ‘yield curves’ invert The ministry also said the move by US President Donald Trump [...]
Kazakh-stunned: Copper miner Kaz takes hit as prices falter August 15, 2019 Kazakhstan-based miner Kaz Minerals sounded a cautious note this morning after being stung by copper prices in the first half of the year. Pre-tax profit at the company dropped nearly 19 per cent to $289m, hurt especially by a 11 per cent drop in the price of copper, it’s main product. Read more: Evraz hails [...]
RBS takes share price hit after analyst downgrade August 15, 2019 The Royal Bank of Scotland was hit this morning as the bank went ex-dividend and two brokers had lowered their forecasts for the company’s shares. Analysts at Macquarie downgraded the company from buy to neutral this morning, slashing its target price to 201p, from 246p. IT came after the bank’s second-quarter adjusted operating profits fell [...]
Asian stock markets regain ground despite warning lights for global economy August 15, 2019 Asian stock markets have bounced somewhat following a tweet from US President Donald Trump floating a personal meeting with Chinese President Xi Jinping and saying “good things were stated” on a phone call between the two sides. Read more: Recession warnings flash red as ‘yield curve’ inverts in UK and US Equities in Asia recovered [...]
City watchdog failing to protect consumers from high-risk investment firms August 14, 2019 Another day another investment scheme collapse. This time it is mini-bond firm Asset Life. News broke today that the company had crashed into administration last month owing more than 500 investors £8m. Asset Life had close links with fellow mini-bond firm London Capital & Finance (LCF), which went bust in December owing 11,600 investors £236m. [...]