Vaccine hopes boost Wall Street open November 23, 2020 Wall Street’s main indexes rose today as hopes that the first Covid-19 vaccine could be available within weeks renewed bets of a swift economic recovery next year. The Dow Jones index was up 0.57 per cent, a rise mirrored by the S&P 500, while the tech-heavy Nasdaq Composite index gained 0.87 per cent. The US [...]
UK business activity shrinks as fresh lockdown hits services sector November 23, 2020 UK business activity contracted this month as the rollout of fresh lockdown measures took its toll on the services sector. The IHS Markit/CIPS UK Composite Purchasing Managers’ Index (PMI) dropped to 47.4 in November, according to initial readings, down from 52.1 in October. The figures represent a five-month low and the first time since June [...]
November 2020 a month full of takeaways November 23, 2020 | City Talk It’s now over a week since Joe Biden was declared the winner of the US 2020 elections. The uncertainty leading up to 3rd November was palpable and pervasive and placed a ceiling on significant capital gains. However, the week of the election was superb for risk markets, even as votes were counted. The S&P 500 [...]
Has the euro’s time come to shine? November 23, 2020 | City Talk Our fixed income team thinks that after more than a decade of financial uncertainty, Europe’s fortunes – and that of the euro – could be set to change. Here’s why. Years of instability The past couple of years have brought yet more turmoil and uncertainty to the European Union. What its proponents see as a [...]
Eurozone business activity shrink sharply in November as lockdowns bite November 23, 2020 Eurozone business activity shrink sharply in November as lockdowns bite
Recruiter SThree raises profit outlook as Germany and US demand improves November 23, 2020 Recruitment firm SThree has projected annual profit to be slightly above market expectations following heightened staff demand for professionals in life sciences and technology in the United States and Germany. The company said hiring improvement in the US and Germany could be seen in October and early November, sending shares up 2.8% in early trading. [...]
FTSE flattens mid-afternoon November 23, 2020 Cineworld, Tui, BA owner and pub companies lead FTSE vaccine bounce
Aviva to sell stake in Italian life insurance venture for €400m November 23, 2020 Aviva has agreed to sell its entire 80% shareholding in Aviva Vita, an Italian life insurance joint venture, to partner UBI Blanca for €400m. The life insurance provider noted the transaction will increase Aviva’s net asset value by £0.1bn. It said the move would also strengthen Aviva’s Solvency II capital surplus by £0.2bn and increase [...]
Global dividends start to make a tentative recovery November 23, 2020 With the impact of the pandemic still lingering, global dividends have dipped again this quarter although there are encouraging signs the worst is now over for investors. Payouts in the third quarter dipped fell by $55bn to $329.8bn, the lowest since 2016, according to Janus Henderson’s latest dividend tracker. The 11 per cent decline was [...]
Rishi Sunak set to raise taxes in spring to pay off Covid debt bill November 22, 2020 Rishi Sunak has signalled that he will raise taxes in the spring of next year to pay off the country’s Covid spending bill. The chancellor told the Sunday Times today that by spring the conutry must start “returning to sustainable public finances”, after spending more than £200bn on the Covid crisis. This year’s deficit is [...]