GBP / EUR update March 20, 2020 | City Talk As everywhere across the world, everything in the UK has been accelerating at pace and the pound has paid the price. Whilst not always at the bottom of the pile, sterling has been struggling and hit a 35-year low against the US dollar. Measures to address all aspects of the crisis were well-received by investors [...]
CMC’s shares jump as it raises forecast again after trading volume surge March 20, 2020 Trading platform CMC Markets surged in early trading as it boosted its annual earnings target for the fourth time in less than six months. CMC expects net operating income ahead of market consensus at £219m, and profit before tac of £72.9m. Shares jumped 16.11 per cent to 156.75 on the FTSE small-cap index. CMC said: [...]
Workplace: a key driver of business growth March 20, 2020 | Sponsored For organisations that dream of emulating Silicon Valley’s success stories, growth is the main goal. However, many senior managers underestimate the importance of bringing an organisation’s strategy into the physical realm of the workplace. Theoretically, it is well known that an organisation’s people – both its employees and clients – technology and operations are key [...]
Sequoia Capital seeking $7bn to invest in US and Asian funds March 19, 2020 Sequoia Capital is seeking $7bn for its latest set of venture capital funds, with a focus on start-ups in the US and Asia, as global markets are rocked by the coronavirus outbreak. The Silicon Valley firm is seeking commitments for multiple funds in the US, China and India, according to the Financial Times. The fundraising [...]
3i expects portfolio companies to be hit by coronavirus disruption March 19, 2020 3i expects the majority of its private equity portfolio to experience disruption to its business, as a result of the coronavirus outbreak. The group said the “modest short-term disruption” is a result of the country by country lockdowns. It expects a small number of other companies to be significantly affected in the short term, including [...]
The Novelty of the Coronavirus: What it means for Markets March 18, 2020 | City Talk Does market history offer any parallels to today’s novel coronavirus crisis? Market action in recent weeks has been reminiscent of the global financial crisis (GFC) of 2007–2009, the crash of 1987, and, for those with a long memory, the crash of 1929, which wouldn’t have been so disastrous if it had not been followed by [...]
Seven firms suspend UK property funds as virus casts uncertainty over assets March 18, 2020 Aberdeen Standard Investments and BMO have joined five other firms who have suspended their property funds after independent valuers introduced material valuation uncertainty clauses due to the coronavirus outbreak. The UK commercial property market is facing unprecedented challenges brought on by the pandemic. Valuation firms are now saying that they can no longer make reliable [...]
Johanna Kyrklund: Are opportunities beginning to emerge? March 18, 2020 | City Talk After the dramatic market falls of the last few weeks, valuations are looking more appealing. But the risk of a prolonged recession means investors should remain cautious. Last week I said valuations are still not cheap enough to warrant taking more risk. After the large falls we’ve seen this week, is this starting to change? Part of [...]
Aviva Investors suspends property funds as CBRE warns of market uncertainty March 18, 2020 Aviva Investors has suspended its property fund, following similar decisions by Kames Capital and Janus Henderson yesterday. In a statement, Aviva Investors said the coronavirus outbreak had impacted the UK property market and “made it difficult to value the property owned by the funds with the same degree of certainty as would otherwise be the [...]
Investment and coronavirus: Keep calm and don’t cash out March 18, 2020 Coronavirus has sent stocks plunging like few other events in the history of financial markets. The FTSE 100 has dropped by a third in the last month. Other indices such as the S&P 500, Japan’s Nikkei, and Germany’s Dax are all in roughly similar positions. Not only are people concerned for their health, but their [...]
