US stock markets open down on interest rate worries July 5, 2019 US stock markets opened in the red after stronger-than-expected jobs figures cast doubt on expectations of an interest rate rise this month. Read more: Fed rate cuts in question as US job gains defy expectations Non-farm payroll data showed the US economy added 224,000 jobs in June. Economists had expected 160,000 new jobs. Before the [...]
Aquis eyes listings as it buys loss-making Nex Exchange from CME July 5, 2019 Aquis Exchange, the London-based trading services group, has struck a deal to buy alternative listing market Nex Exchange for £2.7m. Read more: Ex-Numis boss’s bid to takeover Nex Exchange falls through Aquis will buy the loss-making Nex Exchange, which is also based in London, from the US futures exchange CME Group. It will officially purchase [...]
Congo starts evicting up to 2,000 illegal miners from Glencore site where dozens died July 4, 2019 The Congolese army has started evicting miners from a Glencore site after a landslide which killed dozens. Illegal miners were being dispersed from the area around the copper and cobalt mine run by a Glencore subsidiary today. Read more: Glencore head of oil Alex Beard retires amid US investigations The company London-listed miner confirmed that [...]
Energean strikes black gold in $750m EDF deal July 4, 2019 Energean Oil and Gas took a step towards the big league today with a $750m (£596m) acquisition of EDF’s oil exploration wing. The company will take over Edison E&P in a deal which it claims makes it one of the biggest independent energy explorers in London. Read more: Shares in Energean soar as Israeli energy [...]
FTSE 100 hits 11-month high on interest rate cut hopes July 3, 2019 The UK’s FTSE 100 stock index has hit an 11-month high today, boosted by the growing chances of interest rate cuts, a falling pound, and hopes of a resolution to the US-China trade war. Read more: Dollar falls as Fed holds interest rates but strikes dovish tone Meanwhile the pound has fallen to its lowest [...]
FTSE 250 miner Ferrexpo appoints new auditor after Deloitte quit over charity probe July 3, 2019 Ferrexpo has appointed a new auditor to check its books months after Deloitte quit over alleged wrongdoing. MHA MacIntyre Hudson, which is part of Baker Tilly International, will not review the company’s half-year results, due on 2 August. Read more: Shares in FTSE 250 miner Ferrexpo plunge after it delays its financial results amid Ukrainian [...]
Funding Circle share crash ‘brutally punishes’ IPO investors July 2, 2019 Analysts have accused Funding Circle of failing to deliver on the promises of its IPO after the lender’s shares crashed today following a revenue warning. Small business lending platform Funding Circle’s shares slumped today after it halved its revenue growth projection to 20 per cent following poor demand for its loans. Read more: Funding Circle [...]
The cost of taking down oil rigs is dropping July 2, 2019 The price of decommissioning the UK’s oil and gas infrastructure is dropping as engineers become more efficient, new figures show. The Oil and Gas authority said the cost of future decommissioning fell to £51bn in 2019, from £59.7bn in 2017. It came even as the OGA expects operators will take down more assets and infrastructure. [...]
Sirius Minerals on course to finish fundraising in September July 2, 2019 Fundraising for a major fertilizer mine project in the north of England is on course to be finished this autumn, the company behind it has said. Sirius Minerals said it would likely complete the $3.8bn (£3bn) raise before the end of September. Read more: Sirius Minerals set to unveil £2.5bn equity and debt package So [...]
Saudi Aramco holds talks to restart IPO plans July 2, 2019 Saudi Arabia has restarted plans to float its biggest asset, it has been reported, after the Saudi Aramco IPO was put on hold last year. The company, which is the world’s most profitable, has discussed a potential initial public offering (IPO) with bankers, according to Bloomberg. Read more: Saudi Aramco beats records as investors bid [...]