Investors pull money from Europe as the draw of Trump strengthens February 17, 2017 The potential for chaos in Europe ahead of multiple elections and the recurrence of the Greek debt crisis have prompted investors to move money out of the region. Redemptions from funds invested in European bonds reached an 11-week high in the second week of February as Italian bond funds saw their biggest outflow for more [...]
As loss-making Snapchat sets its valuation at up to $22.2bn, would you have to be mad to invest in its IPO? February 17, 2017 Chris Beauchamp, a senior market analyst at IG, says Yes. As the latest tech IPO to come to market, Snap, the parent company of Snapchat, offers the usual combination of coolness, hype and dubious fundamentals. The IG grey market in Snap continues to suggest that the stock will see a pop on the first day [...]
All change at Bob Diamond’s Atlas Mara as chief exec steps down February 16, 2017 Atlas Mara, the African investment vehicle co-founded by former Barclays boss Bob Diamond, has unveiled plans for a shake-up. The investor, which in October reported a 70 per cent slide in pre-tax profits, said chief executive John Vitalo had stepped down, with a replacement to be announced in "due course". Vitalo, who joined the company in [...]
US crude stocks climb for the sixth week, this time nearly three times analysts’ forecasts February 15, 2017 Crude inventories in the US climbed for their sixth straight week – once again hitting unexpected levels. US stockpiles rose 9.5m barrels last week, the US Energy Information Administration (EIA) said. That was nearly three times analysts' forecasts. Oil prices rallied initially after the report was issued, but have since pared gains back to levels [...]
Berkshire Hathaway “A” shares have officially topped $250,000 February 15, 2017 These shares are so expensive, you need a mortgage just to buy one: last night "A" shares of Berkshire Hathaway, the vehicle founded by legendary investor Warren Buffett, rose above $250,000 dollars for the first time. The company's shares closed 0.8 per cent higher last night, at $250,419. That means shares have surged more than [...]
Big Oil is sleepwalking into crisis by underestimating the electric car revolution February 15, 2017 The “disruptive” label is overused. However, the unexpected pace of advancement in clean technology over the past decade has taken many established utility companies by surprise. And despite recent, largely reassuring results from the oil sector, Europe’s utilities provide a potentially prophetic glimpse into its future. In the German city of Hamm, the Westfalen D [...]
City watchdog seeks to improve capital markets for companies and investors February 14, 2017 The City watchdog today laid out a discussion paper seeking advice on how the UK primary capital markets could be improved for companies seeking funds and investors. The Financial Conduct Authority (FCA) is canvassing views on whether primary equity markets provide enough capital for company growth, particular in the early-stage science and technology sector. Read [...]
Behind the deal: Biggest IPO of 2017 so far is another triumph for boutique investment bank Zeus February 14, 2017 Actuarial and consulting firm Xafinity today announced plans for the biggest UK float of 2017 so far. Weighing in at £190m, the first premium main market listing of the year marks another triumph for boutique investment bank Zeus Capital, which acted as financial adviser, bookrunner and sole broker. Skiing, mountain biking and initial public offerings Read [...]
This Deutsche Bank analyst thinks the pound could fall another 16 per cent against the dollar February 14, 2017 The pound's dip today may have left some investors a little shaken – but you ain't seen nothing yet, one Deutsche Bank analyst has warned. George Saravelos, the lender's global co-head of FX, said in a Bloomberg interview that the pound could fall as low as $1.05 – or another 16 per cent. "Being bearish [...]
The pound has fallen well below $1.25 on bad inflation news February 14, 2017 The pound plunged below $1.25 this morning, after disappointing figures showed inflation was weaker than expected in January. The pound fell as low as $1.2457 in mid-morning trading, 0.55 per cent down. Meanwhile, it fell 0.68 per cent against the euro, dropping to €1.1739. Inflation had been expected to hit 1.9 per cent in January, [...]