Germany flogs bonds at fresh record-low yields as demand for safety surges July 10, 2019 Germany has sold medium-term government bonds at new record-low yields and cut interest payouts completely as investors rush to buy safe assets amid a slowing global economy. Read more: Germany and Portugal sell 10-year bonds at lowest ever yields Figures from the German finance ministry show it today sold 10-year Bunds with a yield of [...]
Crispin Odey backs higher price for Acacia ahead of Barrick bid July 10, 2019 Barrick Gold faced pressure today as reports emerged that a major shareholder will reject any bid for Acacia Mining below 271p per share. It comes as a blow to the Canadian miner, which is mulling a 196p per share bid for the company. Read more: Deadline extended for Barrick’s Acacia bid An assessment by SRK [...]
Investors forecast returns of 10.7% – millennials expect more July 10, 2019 | City Talk Investors expect total annual returns of 10.7 per cent over the next five years, according to a major new global study. Regionally, returns expectations were highest in the Americas, at 12.4 per cent. In Asia, investors expect 11.5 per cent and the figure was lowest in Europe at 9.0 per cent. The returns include growth [...]
Ocado, Dunelm and Superdry show there’s always winners & losers in retail July 10, 2019 | City Talk It’s not all doom and gloom in retail. Whilst we have certainly seen a downturn on the high street, there are winners as well as losers. Next shares are among the best performers on the FTSE in 2019, up 30% so far. And they’re not alone in outperforming the market despite the trouble on the [...]
Private equity takes another bite out of the North Sea as Total sells oilfields for $635m July 10, 2019 Total is set to sell a group of North Sea fields it bought from AP Moller-Maersk in 2018, becoming the latest oil major to sell off assets in the dwindling basin. Private equity firm Hitec Vision and Petrogas, the Omani oil group, will chip in to buy the $635m (£509m) fields. Read more: Chrysaor takes [...]
Deadline extended for Barrick’s Acacia bid July 9, 2019 Barrick Gold has said it needs more time to firm up its indicative offer for Acacia Mining. The Canada-based gold miner now has until 19 July to form make a proposal to investors holding the 36.1 per cent of Acacia shares it does not yet own. Read more: Acacia production bounces after shareholder opposes Barrick [...]
Sterling trades at two-year lows as recession worries mount July 9, 2019 The pound was trading at two-year lows against the dollar today as investors become increasingly gloomy about the UK economy’s second-quarter performance. Read more: Brexit uncertainty plagues business investment Sterling had fallen 0.5 per cent by 4.30pm UK time to buy $1.246, a price not traded at since mid-2017. Against the euro it had dropped [...]
Grounded: Oversupply of coffee beans sends global prices tumbling July 9, 2019 So much coffee is now being produced in the world that global prices are crashing, according to new data. A record seasonal surplus of beans being produced pushed down coffee futures to their lowest levels in more than a decade during April, with a rise in demand for caffeinated drinks failing to stem the plummeting [...]
London listings triple in second quarter after Brexit extension July 9, 2019 The number of companies selling shares on the London Stock Exchange (LSE) for the first time bounced back in the second quarter of the year after the extension of the Brexit deadline. Read more: Trainline on track as it posts big sales boost in first results since IPO There were 15 initial public offerings (IPOs) [...]
Blast off: Richard Branson’s Virgin Galactic plots public listing July 9, 2019 Space may be the final frontier, but Virgin Galactic is readying itself to overcome a fresh obstacle before launching into the great unknown: a stock market listing. Sir Richard Branson’s space-tourism venture is planning to go public as part of a deal with a special-purpose acquisition company (SPAC). Read more: Fifty years on from the [...]