Markets rally as Trump claims US and China are discussing possible trade agreement November 2, 2018 Markets moved upwards this morning on hopes the US’s trade war with China might be easing. The Stoxx Europe 600 – which tracks Europe’s biggest firms including the FTSE 100 – rose by one per cent while Asian stocks rallied. Hong Kong's Hang Seng Index grew by over four per cent and China's Shanghai Composite [...]
Central bank gold buying hits highest level since 2015 amid market volatility and currency weakness November 1, 2018 Central bank gold buying hit its highest level since 2015 in the third quarter as demand rose on stock market volatility and currency weakness. The World Gold Council reported that central bank gold reserves grew 148.4 tonnes, up 22 per cent year-on-year as more countries bought the commodity. A four-month trend of gold outflows was [...]
Shale fail: BHP to return $10.4bn to shareholders after selling US shale assets to BP November 1, 2018 BHP has revealed plans to return $10.4bn (£8.1bn) to shareholders after the sale of its US shale assets to BP. The deal – BP's largest acquisition in two decades – was confirmed on Wednesday after being agreed in July. Anglo-Australian miner BHP announced its arrival on the shale market in 2011 buying fields in Texas [...]
Shell enjoys one of its ‘strongest ever quarters’ on oil price rise November 1, 2018 Shell reported a 37 per cent profit rise to $5.6bn (£4.35bn) as higher oil prices helped the company to one of its strongest ever quarters. The figures The oil giant reported cash flow of $12.1bn from its operations in the three months to the end of September, a 59 per cent on the previous same [...]
FAANGs come out to play in Halloween shares surge October 31, 2018 Technology's biggest players, lumped together as the so-called FAANG stocks, have ended their October losing streak which had left investors spooked with just one day to go. Netflix's share price saw the biggest gains out of the FAANGs grouping, rising almost seven per cent this afternoon off the back of better-than-expected results for Facebook last night. The social [...]
Brazil backs Bolsanaro: what next? October 31, 2018 The will and ability to reform Financial markets, at least, had been rooting for a defeat of the left-wing candidate Fernando Haddad, successor to former president Lula, on the basis of the very different economic policies espoused by the two candidates. Superficially, this seems odd given that Bolsonaro has repeatedly voted against reform and spoken [...]
Bitcoin turns 10: Crypto trader Etoro sets up a free bitcoin ATM in London with a unique twist October 31, 2018 To celebrate the 10-year anniversary of bitcoin, cryptocurrency trading platform Etoro has set up a crypto ATM on London's Finsbury Avenue Square. However the machine comes with a twist: you have to tunefully wish it a happy birthday to it if you want to get your hands on some free bitcoin. The ATM, which Etoro said is the first [...]
Listed butcher Crawshaw crashes into administration with 600 jobs at risk October 31, 2018 Butchers chain Crashaw suspended its shares this morning after it announced it was calling in the administrators. The chain, which has 50 shops across the midlands and north of England, employs more than 600 people. In a statement it said: “The company does not have sufficient cash resources to effect the required restructuring of the [...]
Book to inspire women into UK’s offshore oil and gas industry October 31, 2018 A book to inspire young women to pursue a career in the UK's offshore oil and gas industry will be published later this week. The book contains profiles and interviews with high profile women across the sector to encourage young women to move into the sector. It is written by Katy Heidenreich, the operations optimisation [...]
Global stock markets rise from the dead as Halloween surge raises spirits October 31, 2018 Global stock markets have risen from the dead as a Halloween surge treated investors at the end of a terrifying month of losses. The FTSE 100 climbed 1.6 per cent to a three-week high on Wednesday to raise spirits after an October which has spooked investors. The pan-European STOXX 600 index rose 1.7 per cent [...]