Euro at 20: Time for ‘close and candid introspection’ rather than celebration January 1, 2019 The 20th anniversary of the euro should not be cause for celebration but for “close and candid” introspection. European Central Bank president Mario Draghi admitted he was a biased observer when proclaiming the euro had been a success ahead of its 20th birthday yesterday. But he stopped short of celebrating and said the anniversary was [...]
FTSE 100 ends its worst year since the financial crash in the red December 31, 2018 The UK's FTSE 100 blue-chip index ended its worst year since the 2008 financial crisis in the red, as a strong pound pulled down exporter shares. The FTSE 100 lost 0.1 per cent in trading on the last day of 2018, while the FTSE 250 added 0.2 per cent after a rally on Friday when they both closed [...]
Which stock markets look ‘cheap’ as we head into 2019? December 31, 2018 | City Talk 2018 was a rumbustious year for stock markets, with things really coming to the fore in the latter stages. With investors having grown accustomed to an unusual oasis of calm over recent years, volatility was back with a bang. However, as the dust settles, there is a silver lining for stock market investors. Even before [...]
France to harden stance on tax among company bosses, as yellow vest protests continue over weekend December 30, 2018 The French government is to take a harder line on tax among business chiefs of companies listed in France, according to budget minister Gerald Darmanin. Last month, President Emmanuel Macron addressed the issue in a December speech aimed at dousing the flames of widespread civil unrest in the country, signalling a less tolerant approach to [...]
How a measure of bitcoin’s worth proved worthless December 28, 2018 | City Talk The financial pages are noticeably shorter on bitcoin stories than this time last year – which may or may not have something to do with the precipitous fall in the cryptocurrency’s price over the last 12 months. On 14 December 2017, a single bitcoin was trading at an all-time high of £14,749 whereas, as of [...]
Wall Street falls as stocks fail to capitalise on bear market December 27, 2018 US stock markets dropped today, wiping out a portion of yesterday’s bump as US consumer confidence fell to its lowest point since July. Following its first ever 1,000-point daily surge yesterday, the Dow Jones fell 441 points to 22,439. The 1.9 per cent drop was led in part by technology stocks as Apple, Amazon and Google’s [...]
This ‘bond with a twist’ is sending a worrying message on risk December 27, 2018 | City Talk In the world of finance, not all investors are created equal. In fact, this is a truth largely held to be self-evident and the reason for investors’ composure on the issue largely boils down to a matter of risk versus reward. Broadly speaking, equity investors expect to see greater returns in the longer run than [...]
Oil prices drop as investor confidence plateaus following a rally on the markets yesterday December 27, 2018 Oil prices fell this morning after a rally which saw the price of Brent crude soar around eight per cent yesterday. International standard Brent crude fell around one per cent to $53.92 per barrel in the early morning as worries over increased supply and poor global economic conditions helped mitigate upwards pressure from the stock [...]
White House assures Fed chairman job is safe despite Trump’s Christmas Eve criticism December 26, 2018 A White House official has assured that the head of the US Federal Reserve is not at any risk of losing his job, amid jitters on Wall Street throughout December caused in part by Trump’s criticism of the Fed. Asked on Boxing Day if Fed chairman Jerome Powell’s job was safe, economic advisor Kevin Hassett [...]
Saudi Aramco creates new fuel retail subsidiary to complement existing joint venture network December 26, 2018 Saudi Aramco is to create a domestic fuel retail subsidiary in a bid to expand beyond producing crude oil, into downstream business. The company will establish a network of filling stations in Saudi Arabia to sell fuel, Aramco said on Wednesday. But it did not give details of the size, cost or time-frame for the [...]