Argentine confectioner Havanna lists in the country’s first local IPO since 2013 June 6, 2016 Havanna, an Argentinian confectioner, has listed on the Buenos Aires Stock Exchange. It’s the country’s first local listing since 2013 and has been taken as a further sign of economic recovery in Argentina. In May financial group Grupo Supervielle SA raised $280m (£193m) when it listed in New York and Buenos Aires. Havanna placed a [...]
Bond yields in the developed world hit a record low – even the EU referendum won’t stop them falling June 6, 2016 Bond yields across the advanced world have touched a record low. The fall comes as the US looks set to delay its next interest rate hike, the effects of quantitative easing and negative interest rates continue to take hold and political uncertainty mounts. The yield on Bloomberg's global developed sovereign bond index dropped to 0.62 per cent – [...]
Oil, copper, gold, zinc: Commodities rally as dollar softens after US jobs shocker June 6, 2016 The dollar's pain was commodities' gain this morning, as the weaker greenback reinvigorated the typically ailing asset class. It helped oil push through the $50 mark, while copper, gold and zinc hit multi-week highs. Most metals had a torrid time last month due to the stronger greenback. But it traded near three-week lows today, making dollar-traded commodities cheaper [...]
London is crucial to the LSE-Deutsche Boerse merger, says top exec June 6, 2016 The London Stock Exchange (LSE) and Deutsche Boerse are walking a tightrope. As well as attempting to persuade shareholders and regulators to approve their £21bn merger, the tie-up has also attracted passionate interventions from politicians in the UK, Germany and elsewhere. In Westminster, attention has been drawn to two facts: that Deutsche Boerse’s chief executive would take [...]
Shell’s balance sheet, renewables strategy to be drawn into focus on Tuesday June 5, 2016 Royal Dutch Shell's balance sheet and renewables policy could be drawn into focus when the oil major holds an investment day on Tuesday. The FTSE 100-listed oil major — which bought BG in a £35bn deal — recently revealed profits slumped 83 per cent in the first three months of 2016. This added to pressure on chief executive, Ben van [...]
Treasury’s bank bailout tsar Kingman in talks with L&G June 5, 2016 The senior civil servant who was central to Britain's bank bailouts in 2008 is in line to chair FTSE 100-listed insurer and asset manager Legal & General. John Kingman, who is stepping down as second permanent secretary of the Treasury, has been approached about taking over the position when current chair, John Stewart, leaves the role on 1 June. It's [...]
RAC says petrol prices below £1 a litre “distant memory” June 4, 2016 The RAC declared the days of sub £1 a litre petrol a "distant memory" as it said prices rose for the third consecutive month in May. The average unleaded pump price rose 2p to 110.59p a litre, while the average diesel forecourt price jumped 2.2p to 110.7p. Average supermarket prices for petrol and diesel increased by two per cent [...]
Oil loses fight to stay above $50 as investors weigh Opec meeting June 3, 2016 Oil lost its fight to stay above $50 today, as investors reacted to a closely-watched meeting of the Organisation of Petroleum Exporting Countries (Opec). Brent crude, the global benchmark, fell 0.3 per cent to $49.90 per barrel today, having broke through the $50 threshold earlier. West Texas Intermediate, the US benchmark, also slumped 0.3 per cent to $49. Read [...]
At the close: Opec uncertainty holds the FTSE 100 down June 2, 2016 What was a volatile day on the markets ended rather flat. Big European Central Bank (ECB) and Opec meetings in Vienna failed to move the FTSE 100 far in either direction and it ended down 0.1 per cent at 6,185.61 points. The ECB decided, as expected, to keep interest rates on hold. Though it did raise growth and [...]
Brent tumbles after Opec fails to agree an oil production ceiling June 2, 2016 Oil tumbled after the Organisation of Petroleum Exporting Countries (Opec) failed to agree a production ceiling at a widely watched meeting in Vienna today. Brent crude, the international benchmark, plunged 1.3 per cent to $49.1 per barrel. It had climbed above the $50 mark this morning, hitting its highest level in a week. West Texas [...]