Market correction pushes up oil prices after Trump tariffs sparked rout August 6, 2019 Brent crude regained some of its losses today after taking a battering on international markets since last Wednesday. The price of the international standard had risen nearly one per cent by the mid afternoon London time, trading at $60.32. Read more: Iran seizes another tanker over fuel smuggling, state media reports It comes as the [...]
Sirius Minerals shares plummet 25 per cent as it suspends £411m bond sale for Yorkshire mine August 6, 2019 Sirius Minerals shares plummeted 25 per cent this morning as the FTSE 250 firm announced it had suspended a planned $500m (£411m) bond sale intended to finance a mine on the North York Moors. The offering was an important part of the company’s financing package for the Polyhalite mining project. Read more: Sirius Minerals on [...]
Debate: Are professional traders becoming obsolete? August 6, 2019 Debate: Are professional traders becoming obsolete? Yes – Mike Read is chief executive and co-founder of Pelican Trading. Trading as we know it is certainly becoming obsolete. Financial instruments will always be traded, but the traditional isolated trading model we know today will soon be consigned to the past. Platforms that connect individuals wanting to [...]
FTSE 100 takes battering as trade worries shake global markets August 5, 2019 The FTSE 100 took its second battering in as many sessions today as trade tensions and the prospect of a no-deal Brexit put the fear of God into investors. The blue-chip index lost 183.21 points, or 2.47 per cent, to end the day at 7,407.06, after dropping more than 177 points on Friday. Only miner [...]
Cuadrilla seeks permission to keep fracking until 2021 August 5, 2019 Cuadrilla will apply for permission to continue work at the UK’s most advanced fracking site as the industry seeks a way forward despite regulation it claims is stifling business. Chief executive Francis Egan will ask Lancashire County Council to let the firm continue for another 18 months on top of the current period. Read more: [...]
Britain will join US to protect ships from Iranian attack August 5, 2019 Britain plans to work with the US to ensure the safety of commercial ships passing through the Strait of Hormuz from Iranian attack, defence secretary Ben Wallace said today amid escalating tensions in the region. However the UK will not join US sanctions against Iran, Wallace said after President Donald Trump ripped up a nuclear [...]
Dialight woes continue with ‘disappointing’ results and chairman exit August 5, 2019 Dialight shares have fallen today on the release of its “disappointing” half-year results and the appointment of a new chairman. The LED lighting company posted a £1.6m loss for the first half of 2019, down from a profit of £2m for the same period the previous year. Revenue fell two per cent to £76.1m compared [...]
FTSE 100 tumbles as trade war heats up and Brexit approaches August 5, 2019 Britain’s FTSE 100 stock index has tumbled 1.9 per cent as an escalation of trade tensions and the growing likelihood of a no-deal Brexit cause investors to sell UK shares and buy safer assets. Read more: Markets in turmoil as Chinese currency falls to financial crisis levels The sell-off of British equities sent investors towards [...]
Markets in turmoil as Chinese currency falls to financial crisis levels August 5, 2019 China’s currency the renminbi has fallen to its lowest level against the dollar since the financial crisis, crashing through the seven-per-dollar threshold after an escalation in the US-China trade war. By 8.30am UK time the onshore traded renminbi had fallen 1.3 per cent to 7.030 per dollar. The drop prompted investors to sell so-called risk [...]
Chinese aluminium giant seeks advice over $1.8bn US probe August 4, 2019 One of the world’s largest aluminium companies is consulting with lawyers after it was indicted in the US for smuggling into ports around Los Angeles. China’s Zhongwang Holdings said it, and controlling shareholder Liu Zhongtian who was named on the indictment, have not been served any notice. But in a statement to the Hong Kong [...]