Oversubscribed investment trust and Scottish tech firm announce flotations November 16, 2016 A Scottish technology company floated on the London Stock Exchange this morning and is set to be joined by an oversubscribed new investment trust on Friday. City A.M. first reported that the investment trust, Civitas, which focuses on social housing, was planning to raise £250m through a float on 18 November. The IPO was oversubscribed [...]
Snapchat IPO is go: Photo-messaging app said to have filed for flotation November 16, 2016 Photo-messaging app Snapchat is reported to have filed for an initial public offering (IPO), which could value the company at up to $25bn (£20bn). The US flotation, which would be the biggest since Chinese e-commerce giant Alibaba went public in 2014 valued at $171bn, has been on the cards for some time. Read more: Snapchat [...]
Donald Trump and emerging markets: Why you should buy the Mexican peso, government and corporate bonds November 16, 2016 If the performance of the dollar and US equities has defied forecasts since Donald Trump’s election, the impact on other assets, like US Treasuries and emerging market (EM) securities, has been grimly predictable. EM corporate debt had been one of 2016’s best performing asset classes, and funds which invest in these countries attracted $47bn from [...]
Dollar pressure continues to beat down Asian currencies in wake of Trump election November 15, 2016 China’s yuan today fell to its weakest point since December 2008 against the dollar as concerns over US President-elect Donald Trump’s policies led investors to pile more pressure on Asian stocks. The yuan fell to 0.146 against the dollar, continuing a steady decline from a peak of 0.165 in 2014 and a 52-week peak of [...]
Copper prices slide as rally following Donald Trump’s election begins to reverse November 15, 2016 Copper prices slid today after a rally prompted by the surprise election of Donald Trump as US president came to a halt. Three-month copper prices on the London Metal Exchanged dropped as far as 3.6 per cent during trading today and were down almost two per cent to $5,465 per tonne around mid-afternoon. "Price action in copper [...]
Wall or no wall: Trump needs the Mexican oil industry November 15, 2016 Two of Donald Trump’s main pledges during the presidential race were building a wall along the border with Mexico, and making the U.S. energy-independent. Now that the election is over, these issues are coming to the fore. First, the president-elect said that the wall, which he mentioned on the campaign trail and in numerous debates, [...]
Donald Trump’s $1 trillion spending plan spurs global bonds sell-off as Dow reaches record highs November 14, 2016 The global bond market is undergoing a massive sell-off as investors weigh the implications of US President-elect Donald Trump’s unorthodox policy proposals. Today the yield on 30-year US Treasury bonds rose above three per cent for the first time since the start of January, owing to fears that inflation will rise once Trump’s policies take effect. [...]
The price of gold has fallen to a five-month low November 14, 2016 The price of gold fell to a five-month low in trading in New York today, as the US dollar crept higher. Prices on the New York Mercantile Exchange fell one per cent to $1,212.10 a troy ounce as investors became increasingly bullish about what will happen next. So much for treasuries, gold and the yen [...]
Equities rally again: The Dow Jones just hit another all-time high – but the FTSE 100 has fallen back November 14, 2016 The Dow Jones industrial average leaped to 18,904 points in early trading in New York today, smashing its previous record of 18,857. Meanwhile, across the pond, trading was also encouraging – although slightly less encouraging than it was earlier, after the FTSE 100 slid to 6,752 points, down from 6,811 earlier. It was still in [...]
FTSE 100 finishes the week lower as the pound slides below $1.26 November 11, 2016 Having jumped above $1.26 this morning for the first time since the so-called flash crash back in October, the pound slid back in afternoon trading. Sterling was just 0.2 per cent up against the dollar at $1.2577 by late afternoon trading in London. It was doing rather better against the euro, rising 0.7 per cent to [...]