Global dividends reach record levels but UK held back by weak pound November 19, 2018 Global dividends rose to $354bn (£276bn) as corporate profits led to record third quarter payouts but the UK was stunted by a weaker pound. The amount paid to the shareholders of the world's 1,200 largest companies rose 5.1 per cent in the third quarter, according to a report from asset manager Janus Henderson. Underlying growth [...]
George Soros takes £20m short position on Aston Martin after carmaker’s lukewarm flotation November 18, 2018 George Soros, the billionaire investor and philanthropist, has taken a £20m short position in Aston Martin, whose share price has dropped by a quarter since its flop float last month. Disclosures to the Financial Conduct Authority (FCA) show both Soros and French fund Carmignac Gestion have bet against the carmaker, which has seen £1bn wiped [...]
FTSE 100 roundup: Today’s winners and losers November 16, 2018 The FTSE 100 lost ground today, down 5.31 points at 7,032.70 just before markets closed after a turbulent start to the day when it lost as much as 0.8 per cent. All week markets have been reacting to the political fallout from Brexit as the FTSE 100 wiped out gains made late last week. Top 5 FTSE [...]
Sterling and stocks steady after plunging in the wake of Theresa May’s Brexit deal November 16, 2018 Sterling held steady during Friday's early trading after a day of turmoil on Thursday, which saw several ministerial resignations in the wake of Theresa May's draft Brexit deal. The pound rose by 0.3 per cent to above the $1.28 mark, having plummeted by its biggest margin for two years, yesterday. The FTSE 100 and FTSE 250 [...]
An Italian Bank run could crack the euro November 16, 2018 | City Talk The Italian government is defying the European Commission’s request that it revise its draft budget for 2019 to reduce the deficit. Bond yield spreads are widening and Italian banks are under pressure. Should a bank run ensue, could the euro fall apart? After German reunification, interest rates rose to over 9 per cent in the early [...]
More than £6bn wiped off combined value of RBS, Lloyds and Barclays amid Brexit deal fiasco November 15, 2018 More than £6bn has been wiped off the combined value of Barclays, Lloyds and Royal Bank of Scotland today as turmoil over Theresa May's Brexit deal hit the banking and housebuilding sectors. The threat of a no-deal reared its head this morning after Brexit secretary Dominic Raab dramatically resigned after the Prime Minister pushed her [...]
Six reasons you should care about share buybacks November 15, 2018 | City Talk Warren Buffett, the billionaire investor, recently hit the headlines with the announcement that he plans to spend almost $1 billion buying back shares in his investment company, Berkshire Hathaway. This practice has been increasingly common over recent years, with major implications. Buybacks have fundamentally altered the investment landscape over recent years. However, this is not [...]
Bitcoin falls below $100bn market cap for the first time in over a year November 15, 2018 Bitcoin's market capitalisation has fallen below the $100bn (£78bn) mark for the first time in over a year, amid a wider sell-off in the cryptocurrency sector. The value of the world's largest cryptocurrency briefly dipped below the milestone late last night, before settling firmly around the $98bn mark in the early hours of this morning, according to [...]
Debate: Following a share price dive, should we be worried about Interserve’s future? November 15, 2018 Debate: Following a share price dive, should we be worried about Interserve’s future? Yes – John Tizard is an independent strategic adviser. Interserve’s story seems to have some parallels with Carillion. Construction firms appear to find public service outsourcing challenging, with problems caused by clashes in culture and different expectations for margins. Contracts must be [...]
Fairytale economics will not enchant markets November 14, 2018 In a remarkable break with the economic prudence of the past decade, policymakers in the west are taking their feet off the spending brakes. During the recent midterm elections in the US, President Trump hailed the continuing stream of positive economic data and Democrats’ warnings about the cost of tax cuts failed to cut through. Meanwhile the [...]