Online trading firm IG Group’s shares slide as it announces quarterly revenue drop March 21, 2019 Shares in online trading business IG Group tumbled today after it said its revenue fell in the three months to 28 February. IG Group has been hit hard by a regulatory crackdown on the offering of contracts for difference to retail clients. The company said its net trading revenue was £108m in the third quarter, [...]
FTSE 100 risers: London miners climb blue-chip index as Vale shuts another mine March 21, 2019 London miners dominated the FTSE 100 this morning after Brazilian giant Vale said it was suspending production at another mine. Fresnillo led the charge of the metals producers, up 5.3 per cent, but Antofagasta, Glencore and Anglo American also made the top five risers on the index. Read more: Shares in miner Ferrexpo plunge after [...]
Enquest rebounds as production is set to increase at Kraken oil field March 21, 2019 Enquest shares bounded this morning as it said it would prioritise efficiency at its Kraken oil field just a week after the shares took a battering when partner Cairn reduced its forecast for the joint venture. The firm said it expects gross oil production to fall between 30,000 and 35,000 barrels per day from the [...]
Petrofac workers to strike at BP oil rigs after disagreement over paid leave March 20, 2019 Union bosses have said Petrofac workers plan to walk out of all BP’s North Sea oil rigs amid a dispute over leave. Unite members had demanded three weeks paid leave, but today voted for industrial action at the platforms after only being offered two. Read more: Petrofac faces potential £400m lawsuit following bribery revelations Alternatively [...]
‘Spotify of stock exchanges’ Aquis goes live with Paris hub amid Brexit frustration March 20, 2019 Pan-European trading platform Aquis Exchange has gone live with its Paris hub and said it would now stay open permanently “whatever the outcome” of Brexit. Chief executive Alasdair Haynes told City A.M. its new Paris office would now be permanent as the company had been forced to commit to the move amid Brexit uncertainty. Read more: [...]
Sterling dips lower as Theresa May seeks only a short Brexit delay from EU March 20, 2019 Sterling took a hit this morning as it emerged Theresa May has ruled out seeking a long Brexit delay from the EU. Read more: Prime Minister rules out long Brexit delay Downing Street said the Prime Minister will only request a short extension to Article 50, likely to the end of June, as the UK [...]
Oil prices give back gains after hitting 2019 highs after Opec cuts continue to bite March 19, 2019 The price of oil was flat last night after giving back gains which saw it reach a four-month high earlier in the day. International standard Brent Crude was hovering around $67.5 per barrel in the early evening, largely unchanged. Read more: Venezuela looks to Russia for oil exports as US sanctions bite However, the price reached as high [...]
Brexit: With ten days to go, what is going to happen? March 19, 2019 | City Talk In a process where the phrase ‘dumpster fire’ is already probably more accurate than anything normally used to describe political process, speaker John Bercow threw a grenade into the mix by refusing to allow a third meaningful vote on Theresa May’s withdrawal agreement. It was a move that surprised many – when we thought the [...]
Ex-Numis boss Oliver Hemsley’s bid to take over Nex Exchange falls through March 19, 2019 Plans by former Numis chief executive Oliver Hemsley to take control of London-based Nex Exchange have fallen through, its owner said today. A group of investors led by Hemsley had sought to take control of 55 per cent of Nex, an exchange for smaller listings which seeks to challenge the London Stock Exchange’s Alternative Investment [...]
TP Icap to move staff out of the City in a no-deal Brexit as it awaits Paris approval March 19, 2019 The world’s largest interdealer broker TP Icap has revealed plans to move staff out of the City in the event of a no-deal Brexit. The brokerage giant said its UK desk’s ability to continue to provide business for EU clients would be under threat if Britain leaves the EU without a deal later this month. [...]