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. [...]
Beware picking an investment – or a football team – for its glory days August 14, 2019 | City Talk Football being what it is, Liverpool’s triumphant Champions League campaign – with that extraordinary semi-final comeback against Barcelona to the fore – was never going to have every single club fan in the country up on their feet and cheering. Nevertheless, the weeks from the team’s victory over Spurs in June to the start of [...]
European stock markets slip back into red after German economy shrinks August 14, 2019 European stock markets have fallen into the red this morning after Germany’s economy shrank in the second quarter. Read more: German economy shrinks in second-quarter as exports slump Equities were also levelling out after US President Donald Trump put a rocket under global markets yesterday by announcing his country would hold back on some planned [...]
US pulls back from applying fresh tariffs to Chinese tech goods August 13, 2019 The Trump administration has pulled back from slapping tariffs on certain products from China such as laptops and mobile phones, providing relief for jittery global investors. Read more: Tariffs hurting US manufacturers, says Trump’s ex-economic adviser At the start of the month the US announced it would apply 10 per cent tariffs to $300bn of [...]
Muddy Waters says Burford has ‘same illness’ that doomed Enron August 13, 2019 Muddy Waters redoubled its assault on litigation funder Burford Capital today, accusing the company of having the “same illness” that brought Enron down. The activist shortseller accused Burford of “addiction to mark-to-model gains financed by debt”. In mark-to-model or fair value accounting, unrealised gains are included on a company’s balance sheet. Muddy Waters said: “We [...]
Global stock markets spooked by Hong Kong and Argentina August 13, 2019 Global investors are having a nervous morning as unrest in Hong Kong drags down Asian stocks and market turmoil shakes Argentina. Read more: Asian stock markets fall as embattled Hong Kong leader urges calm European stock markets have followed their Asian counterparts downwards. The German Dax index was 0.5 per cent down in early trading, [...]
Recession fears as gold price hits more than six-year high August 13, 2019 The price of gold hit a more than six-year high this morning as investors looked for a safe haven for their money amid protests in Hong Kong and fears of a crash. Spot gold prices were up 1.2 per cent by around 8.30am to $1,523 per ounce. Read more: Gold hits five-year high on dovish [...]
Pre-tax profit at online trader Plus500 plunges over 80 per cent August 13, 2019 Trading website Plus500 saw pre-tax profit plunge by over 80 per cent in the first half of the year compared to a year earlier, which it blamed on a lack of volatility in the markets providing its customers fewer opportunities to make money. Read more: Plus500 shares plummet as revenue collapses but bosses salaries climb [...]