Monte dei Paschi di Siena shares rise by double figures as investors await news of rescue plan October 24, 2016 The share price for embattled Italian lender Monte dei Paschi di Siena has rocketed by double digits this morning, as investors wait to hear more about the bank's bailout deal. Shares had risen 23.3 per cent to €0.33 by just before 3pm London time, the highest price they have traded at in over two months. The bank's share [...]
Spanish stock market surges as political deadlock set to end October 24, 2016 Financial markets in Spain have rallied this morning on news that the country is set to exit more than 300 days of political gridlock. After yesterday's landmark concession by the socialist PSOE party, which paved the way for centre-right Prime Minister Mariano Rajoy to form a new minority government, the Ibex 35, Spain's bluechip shares index, leapt [...]
Sterling falls again on ECB tapering talk October 24, 2016 Sterling got the week off to a bad start, sliding against both the euro and the dollar in early trading. The pound was down 0.1 per cent against the euro at €1.1225, and down 0.2 per cent against the dollar at $1.2207 ahead of the opening bell. That was despite the euro falling to its weakest [...]
JP Morgan Cazenove to oversee the sale of London Stock Exchange’s Paris-based clearing business LCH SA for €500m October 23, 2016 JP Morgan Cazenove has been appointed to oversee the sale of London Stock Exchange’s Paris-based clearing business LCH SA for up to €500m, a deal crucial to the success of the company’s merger with Deutsche Boerse. City A.M. understands that the bank will be seeking to drum-up competition for LCH SA, with pan-European exchange Euronext thought to [...]
Takeover rumours fly but markets fail to take off October 21, 2016 Markets are yawning their way to the weekend with a quiet finish to a tumultuous week. Stocks has shaved a few points, sterling is up against some, down against some and very little of note is happening on the financial markets despite a big day of political developments and some chunky corporate news. Two takeover [...]
Deutsche Bank’s share price just rose above its pre-panic level October 21, 2016 What a difference a month (and a bit) makes. This morning shares in Deutsche Bank finally rose back to the level they were at before the lender was threatened with a massive $14bn (£11.4bn) fine by the US Department of Justice (DoJ) and everyone lost their heads. Good news for chief executive John Cryan. Shares in the lender hit [...]
Markets have the Friday feeling … and that means nothing much is changing October 21, 2016 Theresa May is half-way through her first official meeting of EU leaders over in Brussels. Across the pond, the ferocious US Presidential Election is approaching with alarming speed, and in Europe, Mario Draghi is intent on keeping the quantitative easing guessing game running for as long as he can. Plenty then, you would think, for [...]
Hong Kong stock exchange trading shut down as Typhoon Haima lashes city October 21, 2016 The Hong Kong stock exchange was forced to cancel trading on Friday as Typhoon Haima lashed the city. The closure came after the Hong Kong Observatory issued a tropical cyclone warning signal number eight. Several flights at Hong Kong's international airport were cancelled or delayed also. Read more: Is property a safe bet in China's former [...]
Before the bell: What you need to know before the US market open October 20, 2016 Markets are further backing a Clinton victory in the US presidential election next month after last night's final debate, while the European Central Bank is expected to keep policy on hold when it meets this afternoon. Here's what you need to know before the US market open at 2:30pm London time. US futures are pointing higher [...]
IPOing waste firm Biffa has arrived in London – and these pictures prove it October 20, 2016 Waste management company Biffa today floated on the London Stock Exchange. The initial public offering (IPO) was pushed through at a reduced price after the company failed to find enough investor interested. Read more: Biffa set to float next week after cutting price to save IPO from scrapheap The company's base price, which has remained [...]