Sterling drops below post-Brexit vote low to its weakest since 1985 October 4, 2016 Sterling has dropped this morning to its weakest since 1985, dipping by 0.5 per cent to $1.2779. The pound has been in decline since Prime Minister Theresa May announced the timetable for Brexit negotiations over the weekend, and plunged even further this morning. Sterling has also been pulled down by concerns over the possibility of a [...]
Oil briefly rises above $51 per barrel, buoyed by Opec optimism October 3, 2016 Oil briefly rose above $51 per barrel today as investors weighed optimism over oil cartel Opec’s ability to agree on a production cut against the stubborn oversupply. The group is meeting next month in Vienna after signalling at a summit last week in Algeria that they could reach their first output agreement in eight years. Brent crude, the [...]
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 [...]