Gold miner Petropavlovsk appoints new chief exec November 30, 2020 Russian gold miner Petropavlovsk has today appointed Denis Alexandrov as its new chief executive, months after clearing out its former top team. Alexandrov, who will join the firm on 1 December, will take over from Maxim Meshcheryakov, who has been the FTSE 250 firm’s acting chief exec since August. From January 2016 to this year, [...]
Global Britain: should the dramatic shift in ownership of the UK stock market be feared or cheered? November 30, 2020 | City Talk How global will Britain be in future? This is a question that polarises opinion. But while the UK still needs to define its place in a post-Brexit world, its financial markets have never been more populated with foreigners. According to data from the Office for National Statistics, more than half of the UK stock market is [...]
FTSE 100 remains on track for best month in 30 years November 30, 2020 The FTSE 100 reversed early losses this morning to remain well on track for one of the best months in its history in November. London’s premier index gained 0.4 per cent this morning, meaning it is is set for a monthly gain of over 13 per cent – its best in 31 years. JD Sports [...]
Before the bell: Equity sentiment slips while all eyes are on OPEC November 30, 2020 Equity markets had a positive run last week on the back of more progress being made with respect to developing a Covid-10 vaccine. In addition to that traders are more optimistic that President Trump will leave office quietly in January. The main story of the week was that the drug being developed by AstraZeneca and [...]
Got an idea to supercharge growth in left-behind Britain? Your country needs you! November 30, 2020 A lot has changed since the nation last went to the ballot box. A generation will never again take freedom for granted. The national debt exceeds 100 per cent of GDP. Lives have been lost, attainment gaps have widened, dying industries have been dealt a coup de grâce. But in one area the narrative has [...]
BoE’s Haldane sees inflation risks as economies bounce back November 29, 2020 Bank of England chief economist Andy Haldane said inflation could rise by more than expected as progress on Covid-19 vaccines and huge amounts of stimulus raised the chances of a swift economic bounce-back. “As the economic recovery gathers pace next year, it will be important central banks remain squarely focussed on their core medium-term price stability mandates,” Haldane said in a speech [...]
FTSE 100 heads for second-best month on record but still lags peers November 28, 2020 Britain’s FTSE 100 stock index is on track for its second-best month in history as optimism about vaccines boosts unloved sectors such as financials and industrials that dominate the UK corporate landscape. Yet the index is still well behind its global peers this year. Despite US markets and global stocks hitting record highs, the UK [...]
US stocks hit all-time high but FTSE 100 lags November 27, 2020 US stock markets hit fresh all-time highs despite the thin post-thanksgiving trading, while the FTSE 100 lagged behind amid worries about Brexit and the economy. Wall Street’s S&P 500 rose 0.3 per cent in the early part of the session. The Dow Jones climbed 0.2 per cent while the Nasdaq jumped 0.9 per cent. All [...]
Germany to double net borrowing for 2021 after suspending budget rule November 27, 2020 Germany will double its initially planned borrowing for 2021 to help finance businesses hit hard by the second wave of the Covid-19 pandemic, lawmakers said Friday morning. The parliamentary budget committee has agreed to a debt of €180bn (£160bn), almost twice the originally planned €96bn (£85bn). This is the second largest amount of net borrowing [...]
Eurozone economic confidence slides amid soaring Covid cases November 27, 2020 Economic confidence fell sharply in the Eurozone in November, a new survey has shown, as the bloc grappled with soaring coronavirus cases and countries put in place economically damaging restrictions. The European Commission’s economic sentiment indicator dropped 3.5 points to 87.6, having recovered sharply in the summer after the lockdowns of the spring. It comes [...]