The Dow Jones hits 12th record high close as Trump promises a big infrastructure announcement February 28, 2017 The US Dow Jones index closed at a record high for the 12th day in a row on Monday after President Donald Trump promised a "big" infrastructure announcement was to come. That marks the longest winning streak for the share index since January 1987, with the Dow Jones Industrial Average finishing 15 points higher at [...]
The Bank of England has admitted to a Michael Fish moment – but economists have plenty to learn from weather forecasters February 27, 2017 So British economists are like the nation's most notorious weatherman when it comes to Brexit? That's what the Bank of England (BoE) has reasserted before the Commons Treasury Select Committee. The nation's number crunchers, said BoE chief economist Andy Haldane, mostly thought Britain's economy would crumble and growth would go into reverse following a Yes vote in last year's EU referendum. [...]
Daisy Group is reported to be considering stock market float February 26, 2017 Daisy Group, the telecoms company which went private two years ago, is reported to be considering a stock market comeback either this year or in early 2018. According to The Sunday Times, the company is plotting a £1.4bn market return, after private equity firms Toscafund and Penta Capital taking Daisy Group out of public hands [...]
Unilever investors are gunning for it to be broken up after the Kraft Heinz deal failed February 26, 2017 Some of Unilever's largest shareholders have spoken out after the failed takeover attempt by Kraft Heinz, calling for a break-up of the consumer products giant which could lead to its food brands, including Marmite and Ben & Jerry's, being separated off from its personal care division. Matthew Tillman, fund manager at Allianz, Unilever's 14th biggest [...]
RBS feels the pain as British Airways’ parent IAG soars on a stolid day for the FTSE 100 February 24, 2017 The FTSE 100 ended the week with less bang, more whimper on Friday as it dipped by 0.38 per cent. London’s main index dipped below 7,200 points briefly before recovering to close at 7,243.70 points. The weaker pound, which fell to lows of $1.2483 US dollars in spot trading in the late afternoon, did little [...]
FTSE reshuffle: Dixons Carphone, Easyjet, Capita and Intu all face relegation February 24, 2017 It's FTSE 100 reshuffle time again next week – and research suggests Dixons Carphone, EasyJet, Capita and Intu Properties could all be in the relegation zone. The Share Centre said potential replacements include the Scottish Mortgage Investment Trust, whose focus on international investments means it is making the most of a stronger pound, and asset [...]
Gold prices have surged to the highest level since the US Presidential election in November February 24, 2017 Gold has surged today, surpassing $1,250 for the first time since the week of Donald Trump's US election win in November. Prices for the yellow metal jumped to $1,260.40 per ounce, up $9 or 0.72 per cent this morning, while spot gold prices increased to $1,260.19 in the afternoon. The safe haven asset is attracting investors amid fresh uncertainty [...]
Star fund manager Neil Woodford: Bank shares are in recovery mode February 24, 2017 Shares in UK-listed banks are on their way to recovery, one of the UK's leading fund managers has said – although he also speculated over the role of regulators. The FT reported this morning that star fund manager Neil Woodford had said UK lenders are "more investable than they've been in a long time", adding [...]
Trump and the markets: the good news and the bad news February 23, 2017 | City Talk The equity rally since Clinton was “Trump-ed” on 8 November has been the biggest for any new president since Herbert Hoover was elected in 1929. While some believe it marks the early stages of a paradigm shift, others have rationalised the move as “Trump without the bad stuff”. As hedge fund manager Seth Klarman recently [...]
Prices on the rise: What next for inflation? February 23, 2017 | City Talk Inflation is waking up Most of the major central banks are predicting rises in inflation. Price pressure was already beginning to build in 2016 as the world economy showed signs of improvement. Now the policies of a new Trump administration – lower taxes and increased government spending – could increase that pressure. The expectation among [...]