NYSE reverts to original plan to delist Chinese telecoms firm January 6, 2021 The New York Stock Exchange has announced it will move forward with plans to delist three Chinese telecoms giants just days after u-turning. The exchange will remove US-traded shares of China Telecom, China Mobile and China Unicom “to comply with US law,” it said on Wednesday. The NYSE originally announced its delisting plans last week [...]
US jobs: Employment falls by 123,000 in December January 6, 2021 Newly released US jobs figures reveal a fall of 123,000 private sector jobs from November to December. The stats paint a grim picture of the US economy at the end of a pandemic-affected year, with the fall reversing months of gentle growth in non-farm employment. Most of the job losses came in large firms, with [...]
UK on course for double-dip recession amid lockdown ‘gloom’ January 6, 2021 The UK is on course for a double-dip recession as a fresh lockdown compounds the “strikingly downbeat” end to 2020, according to a new report. After the sharpest decline in history in the second quarter last year, indicators showed economic activity improved only slightly in the last three months of the year and remained well [...]
World Bank: Delays to vaccine rollout will dent recovery January 5, 2021 Global economic output is expected to increase this year but it is largely dependent on the success of a vaccine rollout, the World Bank has warned. The lender forecast that global GDP will expand four per cent in 2021 but will remain well below pre-pandemic projections due to a surge in new cases. The “heightened [...]
FTSE 100 inches back into the green on new lockdown business support January 5, 2021 The FTSE 100 inched back into the green this afternoon despite news of a third lockdown as the Treasury unveiled a new business support package. London’s blue-chip index slipped 0.1 per cent at lunchtime but picked back up as US markets opened to stand 0.3 per cent higher at 6,589 points. Investors’ optimism came as [...]
AIM higher: IPOs help junior index rally in 2020 January 5, 2021 Faced with a turbulent year, London’s AIM market ended the year higher after a rise in its healthcare and energy stocks and a slew of listings. The junior exchange rallied 21 per cent in 2020, closing at 1,157.04 by the end of the year. The FTSE 100 by contrast ended down 14 per cent on [...]
Investments climb back to pre-pandemic levels with cash reserves playing key role January 5, 2021 Despite economic pressures and a recession looming, nearly half of corporates and large SMEs expect business investment to return to pre-crisis levels by the end of this year as business gets back to normal. According to a new survey shared exclusively with City A.M. today, just 16 per cent expect to take three years or [...]
Sustainability investing: what does the future look like? January 5, 2021 | City Talk ‘Future of Sustainability in Investment Management: From Ideas to Reality’ is a newly published CFA Institute report. The 60-page publication was informed by the views of more than 7,000 industry participants, including 3,500+ retail investors, 920+ asset owners and 3,050+ investment practitioners. Research included virtual roundtables across 31 markets. Here we summarise its findings. The [...]
Copper prices on brink of $8,000 on back of weaker dollar January 5, 2021 Copper prices neared the $8,000 mark this morning as the weak dollar made the red metal the pick of the commodities market for traders. As of 6am, three-month copper was trading up 0.9 per cent at $7,933.50 a tonne on the London Metal Exchange (LME). The commodity, a useful barometer for economic health, briefly touched [...]
FTSE 100 off to strong start to 2021 but Wall Street slips from record highs January 4, 2021 The FTSE 100 got the year off to a strong start today, bursting through the 6,600 point mark this morning, before closing the day up 1.8 per cent. However, Wall Street slipped back from record highs as the world’s markets got 2021 off to a fast start. In the first session of the new year [...]