Misys: London’s biggest IPO of the year is on October 6, 2016 Tech company Misys will return to the markets with an IPO in early November, the firm said today, in what is expected to be one of the biggest floats of the year in London. The software company will list on the London Stock Exchange main market after a four year hiatus. Now Vista Equity Partners, which took the company [...]
Few signs of hope for the Brexit-battered pound October 5, 2016 Sterling could fall further if the UK looks on course for a rocky divorce with the EU, currency analysts have warned. Forecasters currently expect the pound to move sideways against both the dollar and the euro between now and the end of the year, but after a dramatic few days of trading, speculation over the terms [...]
Before the bell: What you need to know before the US market open October 5, 2016 The pound has recovered some of its losses after mammoth sell-offs all week, while the gold price is steadier after its biggest one-day drop since 2013. Here's what you need to know before the US open at 2:30pm London time. US futures are pointing down in the pre-market. The S&P is off by 0.06 per cent, the [...]
About turn: Sterling regains losses against the dollar and euro October 5, 2016 The pound has regained losses against both the dollar and the euro after it was whacked again in early trading this morning. Sterling slipped below the crucial $1.27 benchmark to set another three-decade trough against the greenback as the markets opened in London – before rebounding to $1.2726, down just 0.02 per cent. It was slower to make gains against the [...]
Bittersweet trading day leaves FTSE shy of record October 5, 2016 The FTSE 100 came close to an all-time closing high yesterday as shares were boosted by the fall in the pound. A lower pound lifts the earnings potential of some of the UK’s biggest companies that count their revenue in dollars and dominate the FTSE 100. When the closing bell rang at 4.30pm the blue-chip [...]
Krispy Kreme sold to US parent as UK floatation plans deserted October 4, 2016 US doughnut chain Krispy Kreme is buying the UK business from its private-equity owner. Earlier in the week Krispy Kreme UK abandoned its planned £200m London initial public offering after a bid from its US parent. No financial details were disclosed but it’s thought the price tag is in the region of the planned IPO, [...]
With the FTSE 100 close to an all-time high, are UK markets heading for a fall? October 4, 2016 Jason Hollands, managing director of Tilney Bestinvest, says Yes. While it’s incredibly difficult to accurately call the top of a market, what we do know is that equities never rise relentlessly in a linear fashion, and the current bull market has run on for a very long time now, despite the headwinds of weak global growth [...]
Euro leaps on ECB quantitative easing tapering rumours October 4, 2016 The euro has shot up in late afternoon trading on rumours the European Central Bank is considering proposals for how to taper its quantitative easing programme. The euro jumped from £0.8730 against the pound, which was already suffering amid Brexit speculation, to £0.8787 in a 0.5 per cent pounce. Against the dollar, the single currency recovered [...]
Oil prices settle above $51 as Opec deal optimism abounds October 4, 2016 Oil prices hit a four-month high today as investors felt increasingly optimistic about the ability of Opec to agree its first production cut in eight years. Brent crude, the global benchmark, rose 0.45 per cent to $51.12 per barrel in late afternoon trading. West Texas Intermediate crude swelled 0.08 per cent to $48.85. Investor sentiment has [...]
Housebuilder shares on the road to recovery after Brexit vote falls October 4, 2016 Housebuilders' shares are on the road to recovering the losses they sustained after the Brexit vote on the back of chancellor Philip Hammond's announcement of a £5bn stimulus package for the industry. Hammond said yesterday that he would be setting aside money to encourage developers to build on surplus public land and to fund more [...]