Ashmore’s share price climbs as it stems outflows on improved emerging market confidence April 19, 2016 Ashmore Group has posted outflows of $1.1bn (£764m) in the three months to the end of March, making it the emerging market focused asset manager's seventh consecutive quarter of net outflows. Assets under management rose by $1.9bn to $51.3bn, beating analyst expectations. This time last year the manager was looking after assets totalling $61.1bn, however. Ashmore's blended debt, external debt, corporate debt, [...]
Next chief executive Lord Wolfson’s bonus halved last year as retailer fails to meet top earnings target April 19, 2016 Next chief executive Lord Wolfson's bonus fell to half the amount received the previous year after the retailer failed to meet its top earnings target. The Tory peer, who has been at the helm of the company for the past 15 years, was paid £4.76m in cash and shares last year, including a £503,000 bonus. Although that was still higher [...]
The FTSE 100 just hit a 2016 high April 19, 2016 Is this a sign stock market volatility has begun to ebb? The FTSE 100 hit its highest level in 2016 this morning, as a strike in Kuwait continued to do what this weekend's Opec summit in Doha couldn't: push oil prices up. The FTSE rose 0.5 per cent to 6,382 points in the first half-hour of trading, [...]
Oil continues its mighty ascent as Kuwait strike helps shake off Doha disappointment April 19, 2016 Oil is proving to be not so slippery after all this week, as the benchmark commodity extended yesterday’s gains to climb even further above $40 (£27.90) a barrel this morning. Brent Crude is now trading at $43.26, up 0.82 per cent and back to levels seen last Friday before the weekend’s shenanigans in Doha, where the [...]
IBM revenue drops for 16th consecutive quarter but beats expectations April 18, 2016 While software giant IBM 's revenue fell for the 16th consecutive quarter, its results beat analysts' expectations. The New York-based firm's operating earnings per share fell 19 per cent to $2.35 in the three months ended 31 March, but this still beat analysts' estimates for $2.09. The company's shares slumped slightly in early after-hours trading. Read more: Software giant IBM posts [...]
Brent crude and WTI: Oil price drop after Doha cushioned by Kuwaiti strikes April 18, 2016 The sharp drop in oil prices following the collapse of talks in Doha was cushioned by a Kuwaiti oil industry strike today. Brent crude, the global benchmark, tumbled more than seven per cent in early trading after oil majors, Opec (the Organisation of Petroleum Exporting Countries) and Russia failed to agree on a plan to freeze [...]
Citigroup says commodities rout is finally over April 18, 2016 Citigroup has called an end to the commodities rout which has sent shockwaves through the global economy, and pummelled the balance sheets of mining giants. "There is growing evidence that virtually all commodities have stared at a price bottom and are groping for a return to normal," Citigroup analysts wrote in a note received today. [...]
Online retail sales growth rate doubles in first quarter as shoppers ditch surfing on their tablets for smartphones April 18, 2016 Online retailers have enjoyed a strong start to the year after shoppers splurged almost twice as much on their sites as they did during the same period last year. The latest figures from industry analysts IMRG and Capgemini yesterday showed online sales, excluding travel, grew by 15 per cent in the first quarter compared with [...]
At the close: FTSE 100 closes flat after regaining ground from early losses, oil price pulls back after failed Doha talks April 18, 2016 UK equities closed slightly higher today, regaining ground from losses at the open. A late recovery in the oil price and metals gave a boost to commodity stocks. The blue-chip FTSE 100 index finished 0.2 per cent higher at 6,353.52 points, bouncing from a low of 6,261.71 shortly after the open as investors feared equity would follow [...]
Paint by numbers: Conran paint company launches £5m mini-bond through crowdfunding April 18, 2016 Master Paintmakers (MPL), the company behind design veteran Sir Terence Conran's eponymous paint brand, is to raise up to £5m using crowdfunding platform Karadoo. The 124-year old paint maker has launched a mini-bond through the site, offering investors an annual dividend of six per cent over five years, as well as an online discount on its paints. It will use the funds to help expand its range [...]