Sterling slips against US dollar as cautious investors await BoE meeting April 30, 2021 The pound stumbled against the dollar today as traders remained cautious ahead of the Bank of England’s policy meeting next week. Sterling was down 0.2 per cent at $1.392, while holding its ground versus the euro. It brings yesterday’s nine-day high to an end, which followed a slump in the dollar after the Fed waved [...]
City regulator proposes easing suspension rule for listed SPACs April 30, 2021 The financial watchdog is consulting on a raft of changes to UK SPAC listings, including the rules around SPAC trading suspension when the vehicle identifies an acquisition target. Following a surge of SPAC or “blank check” company listings on Wall Street and more recently in Europe, London is keen not to be left behind. The Financial Conduct [...]
FCA looks into high risk investment promotion amid Bitcoin boom and TikTok ‘finfluencer’ trend April 29, 2021 The City regulator is looking for views on how to tackle the issue of high-risk investment promotions, fearing too many consumers are unwittingly taking too much risk with their money. The Financial Conduct Authority (FCA) is concerned consumers are investing in inappropriate, high-risk investments that are unsuitable for most people. The watchdog has recently warned [...]
FTSE 100 leaps as strong earnings drive index higher April 29, 2021 London’s FTSE 100 was boosted by a series of positive earnings this morning as the index shot up by 0.6 per cent. The blue-chips were buoyed by gains in medical products maker Smith & Nephew, who accelerated to the top of the index after revenue growth in the first quarter. The increase was also supported [...]
FTSE 100 rises while US stocks mixed as investors await Fed meeting April 28, 2021 The FTSE 100 closed higher after a busy day of results while US stocks are mixed as investors awaited the outcome of the US Federal Reserve’s policy meeting. London’s blue-chip index closed 0.27 per cent higher boosted by a series of positive earnings updates from WPP and Lloyds. Investors’ focus now turns to the US [...]
FTSE 100 weighed down by Aveva while Wall Street slips ahead of tech earnings April 27, 2021 The FTSE 100 closed in the red this afternoon despite a strong day of results for heavyweights BP and HSBC, while US stocks were muted ahead of bumper tech earnings. London’s blue-chip index closed down 0.26 per cent this afternoon as Aveva slumped nearly five per cent following its CEO’s exit. The drop was limited [...]
Trading at all hours: The portfolio implications April 27, 2021 | City Talk Millions of retail investors opened up brokerage accounts this past year and many took to trading throughout the day as a way to pass the time, keep themselves entertained, and make a bit of money. So did all this trading actually help the average retail investor’s portfolio during the COVID-19–dominated months of 2020? Nighttime is [...]
Boost for first-time buyers as more ultra-low deposit mortgages hit the market April 24, 2021 In a further boost to first-time buyers, more lenders are bringing 5 per cent deposit mortgages onto the market. New deals announced by Metro Bank and Cambridge Building Society are not part of a new government-backed mortgage guarantee scheme which was launched this week to increase the availability of 5 per cent deposit loans. Major [...]
London market recovery continues following grim start to the week April 22, 2021 London’s main market continued to rise on Thursday, after rebounding yesterday following a disastrous Tuesday, in which the market fell two per cent in one day. By mid-afternoon the FTSE 100 was up 0.42 per cent, boosted by mining and industrials stocks, although the gains were capped by a stronger pound. Meanwhile, the mid-cap FTSE [...]
FTSE 100 rallies after yesterday’s heavy fall April 21, 2021 London’s FTSE 100 rebounded today, after a poor performance yesterday that saw London’s main market fall two per cent. The FTSE 100 closed up 0.52 per cent on yesterday’s gloomy session, when tobacco stocks and fears of new variants pummelled the market, ending the day at a two per cent loss. The blue-chip index was [...]