London Stock Exchange to move bond trading to Italy ahead of Brexit November 19, 2018 The London Stock Exchange (LSE) will move part of its government bond trading to Milan ahead of Brexit. Part of LSE's electronic government bond trading platform, MTS Cash, which trades an average of €13.4bn per day (£11.9bn) will return to Italy in preparation of Britain's exit from the EU. The move, first reported by the Financial [...]
How worried should we be about the slowdown in German manufacturing? November 19, 2018 | City Talk German industrial production contracted by 1.2% in Q3 and is behind the general slowdown being seen in eurozone manufacturing. What is causing the decline and how concerned should investors be? Kaputte Autos Taking a closer look at the breakdown of Germany’s production data reveals that most of the economy’s manufacturing sub-sectors are performing well. The [...]
Bitcoin falls below $5,000 for first time in 13 months as slump continues November 19, 2018 The value of bitcoin has dropped below $5,000 for the first time in 13 months as the bitcoin cash split continues to weighs heavily on cryptocurrencies. The world's largest cryptocurrency by volume has dropped 13 per cent today to lows of $4,827 , while ripple and ethereum also fell to yearly lows of $0.46 and [...]
Broker and online trading platform AJ Bell to launch £500m float in London next month November 19, 2018 Online investment platform and broker AJ Bell today confirmed plans to float in London next month in a listing that could value the company at up to £500m. The float gives major shareholders Invesco Perpetual and chief executive Andy Bell an opportunity to sell down their stakes in the business while widening AJ Bell’s shareholder [...]
If Nigeria wants to take part in global markets, it must shape up and honour its obligations November 19, 2018 When the Nigerian finance minister visited London last week, she and her officials came to advertise Nigeria as a country that is open for business. The minister, Zainab Ahmed, came to promote Nigeria’s $2.8bn Eurobond sale, which follows on from the Nigerian government’s oversubscribed $1bn Eurobonds sale in February 2017. I am a supporter of [...]
City veterans launch new corporate finance boutique November 19, 2018 A former board member of investment bank Zeus Capital is today launching a corporate finance boutique alongside a senior executive from Nex Exchange. The new firm, Guild Financial Advisory, will advise companies on initial public offerings (IPOs), fund raising, deals and corporate governance. Its chief executive Ross Andrews previously spent eight years with Zeus where he [...]
Global dividends reach record levels but UK held back by weak pound November 19, 2018 Global dividends rose to $354bn (£276bn) as corporate profits led to record third quarter payouts but the UK was stunted by a weaker pound. The amount paid to the shareholders of the world's 1,200 largest companies rose 5.1 per cent in the third quarter, according to a report from asset manager Janus Henderson. Underlying growth [...]
George Soros takes £20m short position on Aston Martin after carmaker’s lukewarm flotation November 18, 2018 George Soros, the billionaire investor and philanthropist, has taken a £20m short position in Aston Martin, whose share price has dropped by a quarter since its flop float last month. Disclosures to the Financial Conduct Authority (FCA) show both Soros and French fund Carmignac Gestion have bet against the carmaker, which has seen £1bn wiped [...]
FTSE 100 roundup: Today’s winners and losers November 16, 2018 The FTSE 100 lost ground today, down 5.31 points at 7,032.70 just before markets closed after a turbulent start to the day when it lost as much as 0.8 per cent. All week markets have been reacting to the political fallout from Brexit as the FTSE 100 wiped out gains made late last week. Top 5 FTSE [...]
Europe’s top banker warns of eurozone ‘uncertainty’ November 16, 2018 The European Central Bank will push ahead with plans to roll back its stimulus package at the end of the year, the bank’s chief said today. ECB president Mario Draghi said he still expects the eurozone economy to keep expanding, but warned that there is increasing uncertainty. “If firms start to become more uncertain about [...]