FTSE 100 slips as no-deal Brexit comes into focus December 11, 2020 The FTSE 100 opened lower as investors digested the prospect of a tighter lockdown in London and a no-deal exit from the EU transition period. London’s blue-chip index fell 0.1 per cent to 6,594 points in early trading. The FTSE 250 of slightly smaller firms dropped 0.2 per cent. The pound – which has been [...]
Stunning Airbnb market debut drives valuation past $100bn in biggest IPO open of 2020 December 10, 2020 Shares of Airbnb soared in its stock market debut today, valuing the firm at $101.6bn and marking the biggest US floatation of 2020. Shares open at $146 on the Nasdaq, far above the initial public offering (IPO) price of $68 apiece. The stock then hit a high of $165, rising 142.6 per cent after the [...]
Oil prices top $50 for the first time since pandemic declared December 10, 2020 Global oil prices today rose above $50 for the first time since the world went into lockdown back in March as traders welcomed the start of coronavirus vaccination programmes. Worldwide standard Brent Crude rose 3.5 per cent today to trade at $50.60, its highest levels since the first week of March. US benchmark West Texas [...]
ECB ramps up bond-buying programme by €500bn December 10, 2020 The European Central Bank (ECB) has ramped up its bond-buying programme by €500bn (£456bn) in an effort to limit the economic damage from rising coronavirus cases and new restrictions across the continent. ECB governor Christine Lagarde said the central bank expects the Eurozone economy to have contracted in the final quarter of the year. She [...]
AIM-listed Reabold finds largest onshore oil field in UK in 50 years December 10, 2020 A London-listed oil firm has today said it believes it has found the largest onshore oil field discovered in the UK since 1973, sending its shares soaring. Reabold Resources said that drillers at the West Newton site in east Yorkshire had found a new 62 metre oil reservoir, taking the total hydrocarbon column to 118 [...]
City regulator confirms mini-bond marketing ban December 10, 2020 The Financial Conduct Authority has today confirmed its permanent ban on the marketing of mini-bonds to retail investors amid concerns over losses. It comes after a series of scandals involving unregulated bonds, including the collapse of London Capital & Finance (LCF) last year. The confirmation follows a temporary ban introduced in January after the regulator [...]
Pound sterling sinks lower on no-deal Brexit jitters December 10, 2020 The Brexit-battered pound extended its losses against the dollar and the euro this morning, on no-deal Brexit concerns.
FTSE 100 edges higher as Brexit talks given Sunday deadline December 10, 2020 The FTSE 100 opened higher as the lack of progress in Brexit talks continued to pressure the pound. London’s blue-chip index climbed 0.32 per cent by 8.40 GMT as investors considered how likely a Brexit deal is. Sterling sank 0.6 per cent against the dollar and 0.8 per cent against the euro. Boris Johnson and [...]
Economic recovery slowed in October as UK GDP hit 0.4 per cent December 10, 2020 The UK’s economic recovery ground to a halt in October as lockdown restrictions tightened and the hospitality industry took a hit. GDP rose 0.4 per cent in October according to the latest Office for National Statistics (ONS) statistics, down from a 1.1 per cent growth in September. It is the sixth consecutive monthly increase in [...]
Pay no attention to the left-wing brigade, a Covid wealth tax would be a disaster December 10, 2020 It is incredible how, in the 12 years since the financial crisis, the position of so many organisations has changed. In 2008/9, think tanks like the Institute of Economic Affairs (IEA) argued that the British day-to-day deficit required prudent reforms to public spending, while those on the left claimed that there wasn’t a problem and [...]