ECB set to remain dovish April 9, 2019 | City Talk The European Central Bank meets on Wednesday this week, not the usual Thursday. Don’t expect any fireworks from this outing for the Governing Council, however. A month ago we got a triple whammy of dovish moves with new stimulus, amended forward guidance and growth and inflation forecasts revised lower. Having already pushed back on rate [...]
String of banks appointed as Travelex-owner Finablr weighs London float April 9, 2019 Payments company Finablr said today it was examining a London initial public offering (IPO) and had engaged a raft of top banks to act as underwriters and advisers. The United Arab Emirates-based company, which processed $114.5bn (£87.6bn) of payments in 2018, published a registration documents today and said it was weighing a $200m IPO. Read [...]
Euro-denominated trading will switch to Netherlands in no-deal scenario, London Stock Exchange says April 8, 2019 The London Stock Exchange has said it may move part of its business to the Netherlands if the UK crashes out of the European Union without a deal this week. Its European platform Turquoise will shift euro-denominated share trading away from the UK, the exchange said. Read more: London Stock Exchange Group leads $20m Nivaura [...]
Investors go bananas for Saudi oil debt as offers seen at up to $60bn April 8, 2019 The markets cannot get enough of state oil company Saudi Aramco as the world’s most profitable company sells bonds for the first time. Investors have bid more than $50bn (£38bn) for the bond issue which was expected to fall at around $10bn, according to Reuters sources. Read more: Saudi Aramco leapfrogs Apple to claim title [...]
Rio Tinto subsidiary throws $500m at new mine to keep production flowing April 8, 2019 Rio Tinto and its partners will sink $463m (£354m) into a South African mine in an attempt to keep up production levels in the country. The London-listed miner said today that it will contribute $343m to Richards Bay Minerals (RBM) to back up its 74 per cent stake in the venture. Read more: Analyst downgrades [...]
Central banks glimmer as gold buying reaches highs not seen since 2008 April 8, 2019 Central banks are turning to gold at a much higher rate than last year as global uncertainty has driven them to diversify portfolios. Around the world the banks bought nearly 90 tonnes of gold in January and February, up from 56 tonnes year-on-year, the World Gold Council reported. Read more: Avesero shares lay flat despite [...]
Grab eyes $2bn more funding this year as it looks to create ‘app for everything’ April 8, 2019 Softbank-backed startup Grab is hoping to raise another $2bn (£1.5bn) in funding this year as it embarks on an aggressive expansion plan. The Singapore-based ride-hailing app has already raised $4.5bn in a fundraising round led by Japanese investment giant Softbank. Read more: Lyft takes a wrong turn as shares fall below float price But chief [...]
Pinterest’s valuation slips as it looks to raise $1.3bn in New York float April 8, 2019 Social media platform Pinterest plans to raise as much as $1.3bn (£995m) when it floats on the New York Stock Exchange this year. Pinterest will put 75m shares up for sale at its initial public offering (IPO), with a price tag of between $15 and $17 per share. Read more: Lyft IPO paves way for [...]
Raising the bar: Beer firm Brewdog kicks off sixth fundraising round with £1m prize draw April 8, 2019 Brewery chain Brewdog is to launch a sixth fundraising round, which features a prize draw to win £1m worth of shares in the firm. The firm announced the equity fundraising at its general meeting last week, which comes in a bid to raise £7m and expand its shareholder base to 200,000 people. Read more: Brewdog [...]
Oil prices reach new 2019 high as tensions rise in Libya April 8, 2019 Oil prices hit a fresh 2019 high this morning with international standard Brent crude futures reaching $70.77 (£54.21) per barrel. Read more: Unexpected rise in US oil stockpiles steals the wind from Opec’s sails Brent crude first broke through the vaunted $70 mark for 2019 on Friday, after falling to a low of $50.47 in [...]