Oil prices fall as investors see Opec production cut possibility slipping away November 29, 2016 Oil markets recorded heavy falls on Tuesday as a long-mooted supply cut by Opec looks increasingly unlikely. The price of West Texas Intermediate (WTI), the North American benchmark, fell as low as $45.63 per barrel at the time of writing – more than 2.8 per cent in the day. Meanwhile Brent crude, the North Sea benchmark, [...]
UK SME fund plans main market float November 28, 2016 UK investment fund RM Secured Direct Lending is planning to float on the main market. The fund, which lends to small and medium-sized businesses in the UK, will announce the IPO tomorrow. It is looking to raise up to £100m from the float and is being advised by N + 1 Singer. Read more: The London mayor's ploughed £2.5m [...]
FTSE reshuffle: Three blue-chip relegations are on the cards this week November 28, 2016 A Russian gold producer, a builders’ merchant and a shopping centre owner could face relegation from the FTSE 100 this week. Building materials company Travis Perkins, which issued a profits warning in October, Polymetal International, which has suffered due to a gold price drop since the US election, and shopping centre owner Intu, whose shares have [...]
VC firm Draper Esprit’s IPO at the height of Brexit has paid off with pre-tax profits of £26.5m November 28, 2016 Venture capital firm Draper Esprit, the backer of successful startups Lovefilm, Lyst and Graze, defied the EU referendum jitters to float a week before polling day in June; now that appears to have paid off. It reported pre-tax profits of £26.5m for the six months to the end of September in its maiden interim results as a public company. The [...]
Nooooo-el: Christmas pudding prices set to soar this year November 28, 2016 Don’t expect too many coins in your Christmas pudding this year. The likelihood is your chef will be keeping their money to themselves after an increased outlay on the dessert. The price of Christmas puddings is likely to be ramped up as a result of rising raisin, sugar, butter and wheat prices. Overall, the costs of [...]
Major banks’ shares fall as investors prepare for Bank of England stress tests November 28, 2016 Banks' shares were among the biggest fallers in the FTSE 100 this morning as investors brace themselves for the Bank of England's stress test results later this week. At time of writing: Shares in Royal Bank of Scotland are down 2.1 per cent at 197.3p, Barclays is down 1 per cent at 213.3p, Lloyds Banking Group is [...]
The FTSE fell sharply at the open as bank stocks slid and Opec spooked oil markets November 28, 2016 The FTSE 100 is recovering slightly after posting a sharp fall at the open on Monday, as oil and bank stocks weighed on the index. The Bank of England is set to announce the results of its stress tests for UK banks on Wednesday. The stress tests investigate how the banks would fare in a [...]
The dollar has continued to weaken from 13-year highs to boost the yen and the euro November 28, 2016 A weakening dollar has fallen by over one per cent against the yen in early trading on Monday. The dollar had traded at its highest level since the Iraq war last week on the back of the so-called “Trumpflation” trade. The dollar index against a basket of currencies fallen by more than 0.6 per cent [...]
The London mayor’s ploughed £2.5m into startups since Brexit November 28, 2016 The Mayor of London has ploughed more than £2.5m into the capital's soon-to-be star startups since the vote for Brexit in a bid to show the world the city's "open for business", as he unveiled a new line up of advisors drawn from the UK's ranks of top entrepreneurs and business leaders. Sadiq Khan hailed the London Co-investment [...]
Mongolian property developer aims for London float November 28, 2016 A Mongolian property developer is plotting a flotation on the London Stock Exchange’s junior market. Asia Pacific Investment Partners this morning announced its intention to float on the Alternative Investment Market (Aim) next month. The group claims to be one of “a few Mongolian real estate developers able to effectively access both international and domestic [...]