Equity funds take a thrashing on resurgent Covid fears February 4, 2021 Not even the success of the vaccine rollout could take away the January blues for equity funds last month. Inflows reached a five year high in the fourth quarter at £2.4bn buoyed by the vaccine rollout, but the euphoria hasn’t lasted long. Net inflows fell by 97.5 per cent month-on-month to just £64.6m according to [...]
All eyes are on the Bank of England today February 4, 2021 Calm has been restored to equity markets as the violent swings that were witnessed due to the Reddit-retail investor mania have waned. Volatility in Gamestop – the stock at the centre of the saga – has cool greatly and that has in turn brought the temperature down in the markets. “Trader’s attention drifted back to [...]
Wall Street rallies on strong tech earnings as FTSE 100 slips February 3, 2021 Wall Street pushed higher today on the back of strong tech earnings, but the FTSE 100 closed in the red after early losses were reserved. The Dow Jones was up 0.26 per cent shortly before markets closed, while the S&P 500 and Nasdaq rose 0.28 per cent and 0.18 per cent respectively. It marked the [...]
Defiant Reddit traders help Gamestop claw back some of its losses February 3, 2021 The Gamestop bubble has not burst just yet as shares in the retailer jumped again after a gruelling day of trading on Tuesday. Shares in Gamestop dropped 60 per cent yesterday triggering multiple trading halts in the meme stock favoured by Reddit traders. The so-called meme stock saw its share price surge 300 per cent [...]
Rishi Sunak to chair meeting with G7 counterparts on Covid-19 recovery and digital tax reform February 3, 2021 Sunak to chair meeting with G7 counterparts on Covid-19 recovery and digital tax reform
London IPO activity off to a flying start with busiest January since 2006 February 3, 2021 London markets shook off the January blues with a rush of IPOs, a trend that is set to continue through the year. Building on the momentum seen towards the end of last year, it was the busiest January for the City since 2006. It raised $2.2bn from four listings, including Moonpig and Dr Martens, according [...]
An optimistic outlook for global markets February 3, 2021 | Sponsored Alex Crooke, Fund Manager for The Bankers Investment Trust, discusses recent performance of the Trust and highlights which stocks in particular are driving this performance. Alex also looks at the year ahead and explains why he is largely optimistic on the outlook for global markets and highlights which regions and sectors he and his team [...]
US jobs bounce back in January despite Covid-19 case surge February 3, 2021 Hiring by private employers in the US bounced back in January despite a continued rise in Covid-19 infections, according to new data. Private payrolls increased by 174,000 jobs last month, according to data from ADP. Previously released figures for December were also revised to show jobs fell by 78,000 rather than 123,000. The numbers are [...]
When will the fun and GameStop? February 3, 2021 | City Talk Retail and day traders dealing in shares and other assets that Wall Street funds bet against may not be new; Wallstreetbets, the Reddit group at the centre of the story, itself has been in existence since 2012. However, with retail investors buying in such numbers as recently, the group has captured worldwide attention. Perhaps the [...]
GameStop dubbed ‘greater fool speculative bubble’ as stock price tumbles February 3, 2021 The share price of US video game retailer GameStop slid 60 per cent yesterday to $90, down from a high of $347 at the height of a Reddit-instigated short-squeeze on the stock. GameStop shares rocketed in January after a community led by Reddit forum r/wallstreetbets banded together and piled hundreds of thousands of dollars into [...]