Fiver producer Innovia Group sold in meaty £680m deal with Canadian giant December 20, 2016 Here's another big deal worth, ahem, noting: Innovia Group, supplier of the Bank of England’s new plastic five pound note that has come under fire for containing animal fat, has been snapped up by a Canadian label and packaging maker in a CA$1.13bn (£680m) move. The UK-based company makes specialty bi-axially oriented polypropylene films used for [...]
What next for the FTSE 100? December 19, 2016 | City Talk The FTSE 100 largely brushed aside concerns over Brexit and the US election in 2016 to hit its highest ever level of 7,129.83. However, the index has struggled to maintain its momentum and push on from that record high reached in October. Here we take a look at why the index remains near record highs [...]
Video analytics firm Big Sofa announces Aim flotation after raising over £6m December 19, 2016 Video analytics firm Big Sofa begins trading today on London’s junior market, with an eye on US expansion. Big Sofa has raised around £6.1m by way of a placing of, and subscription for, new ordinary shares at 17 pence per share, valuing the business at £10m. It hopes the fundraising will boost expansion in the [...]
Oil prices: Brent crude and West Texas Intermediate crude lift on Libya production halt and expectation of tighter market December 19, 2016 Production halts at two of Libya's major oil fields and anticipation of tighter crude supply next year lifted oil prices this morning. Libya's National Oil Company yesterday stopped the relaunch of production at its two biggest oil fields after a militia threatened to block the crude from reaching the market. The fields, known as El Feel and [...]
Another miss for London’s IPO market? Parkdean Resorts sold to Canadian private equity house December 18, 2016 A Canadian private equity house this weekend announced the acquisition of a UK caravan holiday parks operator, in a deal that could be seen as another loss for London’s flotation market. Toronto-based Onex Corporation has agreed a £1.35bn deal for Parkdean Resorts, which is currently owned by Epiris, formerly known as Electra, and Alchemy. The [...]
Driverless cars’ arrival looks set to shake up the automotive, oil and tech sectors December 16, 2016 The energy markets are starting to recover from their multi-year swoon, but there may be a bigger change ahead. It’s starting to look like the rise of self-driving vehicles is not only inevitable, but that it will be here sooner than many would have thought possible. That will likely upend the oil markets in ways [...]
Euro reaches lowest level against dollar since 2003 December 15, 2016 THE EURO hit its lowest point since the start of 2003 against the dollar yesterday as the Federal Reserve’s plans for tightening monetary policy added further momentum to the greenback’s surge since the election of Donald Trump as US President. The euro/dollar spot exchange rate hit a low of $1.0367 in afternoon trading before recovering [...]
Oil prices: Brent crude and West Texas Intermediate prices rise as markets adjust to US interest rate hike and dollar rally December 15, 2016 Oil markets stabilised today after sharp falls before and after yesterday's decision to raise US interest rates from 0.5 per cent to 0.75 per cent. Brent crude, the global benchmark, was up 0.7 per cent to $54.29 a barrel, while US sweet crude rose 0.3 per cent to $51.17. On Monday, Brent crude hit a temporary [...]
FTSE 100 miners Fresnillo, Randgold Resources and Polymetal fall as gold prices slump to 10-month low December 15, 2016 Shares in FTSE 100 gold miners were battered this morning as prices of the yellow stuff fell to a 10-month low. A dollar rally pushed spot gold prices down 1.23 per cent to $1,128.85 an ounce this morning, after the US Federal Reserve yesterday raised US interest rates from 0.5 to 0.75 per cent and [...]
Chinese mega cities increase dominance in Schroders Global Cities 30 index December 15, 2016 | City Talk Fund manager Hugo Machin explains the trends behind the latest moves in the Schroders Global Cities index Chinese cities had a strong showing in the first Schroders Global Cities 30 index, launched in the summer. In the first update to the index, that dominance has only increased. Four of the top five spots are now [...]