Is Warren Buffett’s U-turn on airlines a nod to his value investing past? January 6, 2017 | City Talk Warren Buffett, the investment billionaire, has been pretty rude about the aviation sector. As the Sage of Omaha unambiguously put it in a 2002 interview: “If a capitalist had been present at Kitty Hawk back in the early 1900s, he should have shot Orville Wright. He would have saved his progeny money.” Buffett went on to [...]
TCP Icap shares jump as US election result causes trading frenzy January 6, 2017 Shares in broking giant TCP Icap, formerly known as Tullet Prebon, jumped this morning after it unveiled a bumper year as investors worked themselves up into a frenzy of activity after the US election result. Shares jumped as much as 10 per cent to 484p this morning, after the company said it expected revenue to [...]
Donald Trump reflation story continues to enthral investors as money market fund flows increase January 6, 2017 Investors have rushed to put money into money market funds, as they continue to back the story that inflation is going to grow under US President-elect Donald Trump. Fund flows into money market funds in the week ending 4 January grew to $31.7bn (£25.7bn), up from $16bn in the week including the Christmas holiday, according [...]
With PMIs suggesting strong growth in the UK economy at the end of 2016, will it remain robust in 2017? January 6, 2017 Ruth Lea, economic adviser at Arbuthnot Banking Group, says Yes. The latest Markit survey results found that business activity picked up appreciably in December in all three sectors – manufacturing, construction and services, suggesting that growth remained buoyant in the final quarter. Moreover, I expect growth to remain fairly robust in 2017, at around 1.5 [...]
Buyer, beware: Bitcoin collecting could dig a hole in your pockets January 6, 2017 The rally in bitcoin over the past week, culminating in its rise to a three-year high yesterday, should provide vindication to policymakers in the UK over their approach to the cryptocurrency. For while other governments have adopted less-than-welcoming approaches to the technology, the UK was embracing it wholeheartedly. As bitcoin began to grab headlines in [...]
Renminbi continues two-day rally as China’s government steps in to limit capital outflows January 5, 2017 China’s currency continued its sharp two-day rally on Thursday as investors react to the prospect of tighter government controls on capital outflows announced at the end of last year. China’s renminbi has sharply jumped off lows approaching Rmb7 to the dollar as traders and businesses rush to secure the currency outside of the country. Renminbi has [...]
Happy housebuilders push FTSE 100 to yet another high January 5, 2017 The FTSE 100 hit yet another record high today, after it was pushed up by housebuilders following encouraging results from Persimmon. It's the second time this week the index has set an intraday record, having jumped to 7,205 points on Tuesday. However, sluggish trading caused it to slip back, and it finished just below 7,200 points, [...]
Oil prices lift as Saudi Arabia looks to bolster Opec deal with customer talks and US crude inventories have unexpected fall January 5, 2017 The price of the black stuff lifted more than one per cent today as Saudi Arabia started talks to support an Opec-led production cut and a report showed the amount of oil the US keeps in reserve fell last week. Global benchmark Brent crude was up 1.5 per cent, or $0.83, to $57.29 a barrel [...]
Three important investment lessons to take from 2016 January 5, 2017 Did anybody anywhere in the world put an accumulator bet on the UK voting to leave the European Union, Donald Trump winning the US presidential election and Leicester City winning the Premier League? The bookmakers believe not and you’d think they might have noticed – after all, these events were considered so unlikely that just [...]
Sparkling plan: Private equity owner of jewellery company Aurum considering stock market float as well as sale January 4, 2017 The London Stock Exchange could be be set for another jewel in its crown. The private equity owner of high-class jeweller Aurum Holdings, which is behind high street chain Goldsmiths, is considering options for floating the company. Apollo Global Management, which acquired the firm for a reported £180m in 2012, has appointed Jefferies bankers to [...]