Oil prices heading for longest run of monthly gains in five years May 31, 2016 Oil prices are on course for the longest run of monthly gains in five years, helped by supply outages across the world. Brent crude, the global benchmark, slumped 0.9 per cent to $49.33 per barrel today. West Texas Intermediate crude, the US benchmark, also fell 0.2 per cent to $49.4. Read more: These three perilous trends spell [...]
Three stocks to make your portfolio hum May 31, 2016 There is (almost) nothing more delightful than a good stock picker who’s passionate about why he or she chooses to invest in a certain company. I especially respect the fund managers who take a hard look at the numbers and then make time to meet with management of a company. And I love the ones who, [...]
Neil Woodford is expected to pick up a stake in Time Out when it unveils its plans to list tomorrow May 30, 2016 Star fund manager Neil Woodford is expected to be among investors in line to pick up a stake in media group Time Out when it unveils plans for its London listing tomorrow. Time Out's long expected float on the London junior Aim market is set to value the company at between £185m and £225m. The company, which has [...]
At the close: Bank holiday starts early for the London markets on flat day in the City May 27, 2016 Friday's are always slightly slower in the Square Mile. None more so than on a sunny afternoon on a bank holiday eve. The markets, characteristically, were static. The FTSE 100 closed down 0.1 per cent at 6,258.06, but volumes plummeted, with the number of shares swapping hands around half its usual level. The slow day [...]
FTSE 100 heads for biggest weekly gain in six weeks May 27, 2016 Britain's FTSE 100 was on course for its biggest weekly gain in six weeks today. The commodity heavy blue-chip index was up 1.7 per cent on the week, after oil prices touched $50 per barrel yesterday, and bank shares also made gains. It was down 0.1 per cent to 6,260.3 points in late afternoon trading. The [...]
Anglo American’s diamond business De Beers names new chief exec Bruce Cleaver May 27, 2016 Anglo American's De Beers said today it had appointed Bruce Cleaver as chief executive from 1 July. Cleaver will replace Philippe Mellier who decided to step down after five years at the world's biggest diamond producer. Cleaver had been group director of strategy and business development at Anglo. Prior to this, he'd served as exec director for strategy and commercial relationships at [...]
Oil prices fall back from $50 as supply concerns weigh May 27, 2016 Crude slumped today as investors worried higher prices would exacerbate the global oversupply. Brent crude, the global benchmark, fell 0.8 per cent to $49.2 per barrel this morning. West Texas Intermediate crude, the US benchmarked, shed 0.8 per cent to $49.1. Read more: Oil and gas firms gear up for wave of M&A activity Oil pushed [...]
China raises £300m in London as part of first ever overseas RMB bond May 26, 2016 China's finance ministry today issued a three billion yuan (£312m) international bond, its first ever outside China or Hong Kong. The bond, set to be listed on the London Stock Exchange, was managed by HSBC and China's finance ministry. In October last year, China's central bank debuted on London markets with the sale of its first [...]
No IPO for Snapchat yet with new funding instead May 26, 2016 Messaging app of the moment Snapchat is now worth even more than everyone thought after it disclosed more than a billion dollars of new investment. The five-year old startup which has previously revealed plans for an eventual IPO, is staying private for now, having raised $1.8bn (£1.2bn) in a series F round of funding official documents filed with SEC revealed [...]
UKOG shares slump following fundraising round May 26, 2016 Shares in UK Oil & Gas Investments, the company behind the so-called Gatwick Gusher, slumped today after the announcement of a successful fundraising round. The Aim-listed firm announced today that it had raised £4m by placing 266,666,667 new shares at 1.5p each. Its shares closed down 10.8 per cent to 1.69p per share this afternoon. Read more: Ukog share price [...]