Before the bell: What you need to know before the US market open September 22, 2016 A divided Federal Reserve has voted to leave interest rates on hold, queuing up a hike before the end of 2016 and markets couldn't be happier. Here's what you need to know before the US market open at 2:30pm London time. Markets climbed yesterday following the Fed announcement and Janet Yellen's frank press conference. The S&P is [...]
Fed interest rate decision adds sheen to London-listed miners September 22, 2016 The US Federal Reserve's decision to hold interest rates proved to be a boon for London-listed miners which raced to the top of the FTSE today. While Fed chair Janet Yellen suggested US borrowing costs could rise this year, policymakers cut the number of rate increases they expect this year to one from two and projected a [...]
Should global stock markets expect a correction by the end of the year? September 22, 2016 Adrian Lowcock, investment director at Architas, says Yes. Markets have been stable for months and have been able to shrug off the surprise Brexit vote, weak economic growth and concerns over the Italian banking system. Investors seem to think that markets can handle anything, but they are far too sanguine. This is the perfect environment for [...]
Postal Savings Bank of China in world’s biggest IPO in two years September 21, 2016 China's sixth-largest lender by assets has raised $7.4bn (£5.6bn) in the world’s biggest initial public offering since Chinese ecommerce retailer Alibaba’s 2014 float. The state-owned Postal Savings Bank of China (PSBC) was priced at the lower end of expectations in Hong Kong and was heavily reliant on cornerstone investors – big buyers that get priority [...]
First crude shipment in two years leaves major Libyan port September 21, 2016 A tanker set sail from the Libyan port of Ras Lanuf to Italy today, marking the first shipment from one of its key oil terminals since the civil war froze activity there two years ago. The port manager told Reuters that a second tanker is preparing to load at the terminal, stoking hopes that it will bring Libya a [...]
The UK is second in the world for tech startup exits September 21, 2016 More tech startups in the UK went public or were acquired than in any other country in the world behind only the US at the start of the year, new research reveals. The high-profile acquisitions of Swiftkey by Microsoft and Magic Pony by Twitter helped send tech merger and acquisition (M&A) surging across Europe. Read more: Why companies like [...]
Before the bell: What you need to know before the US market open September 21, 2016 Markets are already cheering the US Federal Reserve and Mylan's chief executive is set to answer questions on the latest drug pricing scandal. Here's what you need to know before the US open at 2:30pm. The US pre-market is climbing ahead of the open, betting the Fed will not move to hike interest rates when it [...]
Banking shares bolster FTSE 100…except for RBS September 21, 2016 Banks' investors have a reason to celebrate this morning, as share prices among lenders are on the rise – with the exception of RBS. At time of writing, Barclays is the biggest riser of the FTSE 100, while shares in HSBC, Standard Chartered and Lloyds Banking Group are also up, after the Bank of Japan [...]
Cenkos shares dive after small cap fundraising dries up September 21, 2016 Shares in Cenkos fell as much as 16.96 per cent to 95.50p per share this morning, after the City stockbroker revealed profits plunged as small cap fundraising dried up ahead of the Brexit vote. The figures Cenkos' pre-tax profit plummeted 91 per cent to £1.7m in the six months to 30 June, down from £18.6m in the first half [...]
BHP Billiton boss Andrew Mackenzie’s salary was halved in the wake of the Samarco dam disaster September 21, 2016 The chief executive of BHP Billiton took a more than 50 per cent pay cut in the 2016 fiscal year, as a result of a tragic dam failure at one of the company's Brazilian mines. The failure of the dam at Samarco Mineracao in November 2015, which BHP Billiton jointly owns with local company Vale, [...]