Back down it goes: Deutsche Bank share price drops in US October 3, 2016 Deutsche Bank's US-listed shares have fallen three per cent, just hours after the market opened. Shares in the German bank plummeted last week, after various reports emerged doubting Chancellor Angela Merkel's appetite for state assistance, despite the lender facing a potential $14bn (£10.8bn) fine from the US Department of Justice (DoJ) for mis-selling mortgage-backed securities. However, [...]
Before the bell: What you need to know before the US market open October 3, 2016 Sterling has dropped after Prime Minister Theresa May said the UK will trigger the formal process of leaving the European Union by March next year. Here's what you need to know before the US market open at 2:30pm. US stock futures are broadly flat in the pre-market. The S&P is off by just 0.01 per [...]
Research proves that investors are better off putting their money with a female fund manager October 3, 2016 There is always a lot of noise about what to do with your investments. Which asset? What asset management company? Index tracking or actively managed? But new research has revealed that there is one other important consideration that could bolster returns: make sure your fund manager is not a bloke. Read more: GlaxoSmithKline names Emma Walmsley [...]
The FTSE 100 has hit its highest point since June 2015 October 3, 2016 The FTSE 100 has hit its highest point since June 2015, reaching 6,974 points in morning trading, up 1.09 per cent at time of writing. A weaker pound has helped to edge the UK's benchmark stocks upwards, moving ever closer to that psychologically significant 7,000 mark. Many of the international blue-chips on the index will benefit [...]
Medical goods maker Convatec announces London listing October 3, 2016 A major international maker of medical products unveiled plans to raise $1.8bn from a London initial public offering (IPO) this morning. Convatec, which specialises in making products for incontinence, wound therapeutics, and critical care announced this morning its intention to float in "late October or early November". The company was sold by the healthcare giant Bristol-Myers Squibb in [...]
Darktrace is now worth $500m and has IPO ambitions October 3, 2016 One of the UK's hottest tech startups is now worth half a billion dollars and has ambitions to go public, City A.M can exclusively reveal. Darktrace, the cyber security startup which boasts backing from top Silicon Valley venture capitalists, Wall Street investors and former Autonomy entrepreneur Mike Lynch, was valued at $450m after a major round [...]
O2 IPO set to call on retail investors October 2, 2016 Mobile network O2 is planning on making millions of shares available to retail investors when it lists later this year. It’s hoped demand from O2’s 25m strong customer base will push up the stock market value of the company to around the £10.25bn that O2 owner Telefonica agreed to sell the business to Three owner [...]
Deutsche Bank hammers European bank stocks and FTSE 100 September 30, 2016 UK markets have fallen in early morning trading with eyes across Europe glued to Deutsche Bank as its shares set fresh record lows amid ongoing speculation about the lender's financial health. Deutsche Bank collapsed by more than nine per cent in Frankfurt this morning after key partners took fright and started to cut back their exposure to [...]
Deutsche Bank US share price plunges after reports suggest funds have lost faith in the lender September 29, 2016 Troubled financial giant Deutsche Bank saw its shares plummet again in New York last night, dragging Wall Street into the red. The German lender's New York-listed stock dived after reports emerged that several key funds have slashed their exposure to the bank. The news sent shivers through banking sector equity markets, with the S&P 500's financial [...]
Oil prices waver as doubts circulate over Opec production cut September 29, 2016 The brief oil price rally stalled this afternoon as doubts mounted over Opec's provisional agreement to cut oil output for the first time since 2008. Ranko Berich, head of market analysis at Monex Europe, said: "It appears that market participants remain sceptical of Opec’s mettle, and if the cuts announced will be sufficient to clear [...]