Before the bell: What you need to know before the US market open October 25, 2016 Apple sales are expected to fall sharply and Twitter is planning another round of job cuts. Here's what you need to know before the US market open at 2:30pm London time. US futures are pointing higher ahead of the open, though only slightly. The S&P is up by 0.09 per cent, the Nasdaq is 0.14 per [...]
UK flotation market sinks to four-year low amid Brexit uncertainty October 25, 2016 Activity on the UK’s flotation market has sunk to a four-year low amid Brexit uncertainty. However, while the main market has struggled, London’s junior market, the Alternative Investment Market (Aim), has thrived this year. Overall, there were 41 initial public offerings (IPOs) in the first nine months of the year, the lowest number since 2012. [...]
Saudi Arabia’s bonds have broken the record for an emerging market issue, but are they good value? October 25, 2016 With three huge sovereign bond debuts, this has been a bumper year for emerging market government debt issues. First came Argentina, with a record-breaking $16.5bn (£13.5bn) sale in April, followed the next month by a $9bn issue from Qatar – double the amount it had originally planned for. Both were overawed last week, however, when [...]
Spooking investors: Why this earnings season is like Halloween October 24, 2016 Trick or treat! When you think about it, corporate earnings season is similar to that children’s favourite, Halloween. Expectations usually run high, but you never know if the door you are knocking on will yield a delicious surprise or be a complete let-down, as the sweets are either from last year or there’s none left. [...]
Oil prices dip after Iraq opts out of Opec arrangement to cut production October 24, 2016 Oil prices shed more than one per cent today after Iraq said it did not want to be part of an Opec deal to slash production to help rebalance the market. Brent crude was trading down 63 cents, or 1.22 per cent, this afternoon to $51.15 per barrel. West Texas Intermediate (WTI) crude, the US [...]
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 [...]