How low can it go? Sterling falls against the dollar and the euro again October 13, 2016 If anyone thought yesterday's rise in sterling was anything more than a fluke, today convinced them otherwise: the pound fell against both the dollar and the euro in early trading. Sterling stayed firmly below $1.22 in early trading, falling 0.3 per cent against the dollar to $1.269 – and after briefly edging closer to €1.11 [...]
Biffa determined not to bin London IPO plans despite City struggles October 13, 2016 Biffa is determined to push forward with its flotation plans despite struggles pushing the deal over the line, according to a source close to the waste disposal company. Brexit uncertainty has been cited as a reason for the initial public offering (IPO) struggling to find enough City interest. And the company was in discussions last [...]
TI Fluid Systems has withdrawn its plans for a London listing October 12, 2016 TI Fluid Systems became the latest casualty of uncertain market conditions as it pulled its London listing before it even had to chance to garner interest from cornerstone investors. The Bain Capital-backed group was eyeing up a €600m (£540m) listing. But less than two weeks since announcing its intention to float, sources close to the company [...]
Oil prices fall after Opec points to bigger crude surplus in 2017 October 12, 2016 Oil prices turned lower this afternoon after the Organisation of Petroleum Exporting Countries (Opec) pointed to a larger surplus next year. Brent crude, the global benchmark, slumped 1.09 per cent to $51.84 per barrel. Its US counterpart, West Texas Intermediate crude, fell 1.32 per cent to $50.12, having recovered slightly after falling just below the $50 [...]
Sterling falls back after posting early morning gains October 12, 2016 The pound fell back in afternoon trading today, slipping below $1.22 after an early morning rally saw it reverse yesterday's hefty losses. Sterling hit a low of $1.2086 late last night after American traders took a decidedly pessimistic view on the currency, wiping two cents off sterling in a matter of four hours. After investors' fears [...]
Is 2016 the turning point for energy storage? October 12, 2016 In the future, when investors look back at the year that represented the turning point for clean energy, 2016 may be it. The industry overall is growing at a breath-taking pace, but perhaps not for the reason that some investors think. Energy storage, rather than solar power and wind power, are the real factors that [...]
Sterling hit its lowest level on record last night October 12, 2016 The pound fell to its lowest ever level during yesterday afternoon's brutal sell-off as the currency remains under intense pressure. Sterling, which has been suffering at the hands of nervy traders keeping both eyes on every utterance from Prime Minister Theresa May, hit its weakest mark on the Bank of England's "effective exchange rate index" [...]
FTSE 100 dips again as sterling recovers some strength October 12, 2016 What a difference a day makes. Having hit a record high yesterday, the FTSE 100 started this morning in negative territory. The index fell 0.5 per cent to 7,032 points in early trading, having reached the heady heights of 7,127 yesterday – above the record high of 7,122 points it set in April 2015 (although it later closed slightly lower). It [...]
Fresnillo reports increased silver and gold production October 12, 2016 Miner Fresnillo has reported an uptick in production of silver, gold, lead and zinc in the third quarter of the year. Silver production was up 6.7 per cent, gold was up 20.9 per cent, lead was up 19 per cent and zinc was up 32.1 per cent compared with the same quarter last year. Production of [...]
US-run firm targets FX takeovers as it floats on London Stock Exchange October 12, 2016 A US-run company targeting takeovers in the foreign exchange sector is to float on the London Stock Exchange (LSE) today. Boston International Holdings is to list all of its shares, valued at £1.4m, on the LSE’s main market for listed securities from 8am. The company will now be seeking to buy firms within the FX sector. [...]