US jobs recovery slows ahead of November election October 2, 2020 The recovery in the US jobs market slowed in September as fiscal stimulus and pent-up demand ran dry, according to the last set of official figures before the November presidential election. More than 660,000 Americans found work last month, the Bureau of Labor Statistics (BLS) said. However, the jobs growth undershot the 850,000 increase predicted [...]
Shot in the arm for e-sports market as David Beckham-backed enterprise is UK’s first to float October 2, 2020 David Beckham’s e-sports company Guild Esports started trading on the London Stock Exchange today. The firm, which trades under the ticker GILD, is the first major e-sports company to go public in the UK. Guild Esports said earlier this week that its oversubscribed offering of 250m shares was priced at 8 pence per ordinary share. [...]
Kazakhstan fintech Kaspi plans London IPO October 2, 2020 Kazakh banking and fintech firm Kaspi has confirmed plans to float on the London Stock Exchange this month. Kaspi, which controls the third-largest bank in Kazakhstan, said it plans to sell new and existing shares by listing its Global Depositary Receipts (GDRs) on the stock exchange. The company did not reveal what stake its shareholders [...]
Global oil prices plunge over fresh demand fears October 1, 2020 Global oil prices dropped sharply this afternoon amid fears that the continuing rise in coronavirus cases would drive demand down again. Worldwide standard Brent crude lost 5.2 per cent to trade at $40.05, while US benchmark West Texas Intermediate dropped six per cent to stand at $37.75. Earlier this week, the number of people who [...]
UK GDP forecast to shrink by around 10 per cent in 2020 October 1, 2020 Economic forecasters expect UK GDP to contract by around 10 per cent in 2020 following a tightening of coronavirus restrictions. New research published today by PwC has forecast a contraction of between 11 and 12 per cent for the year, while S&P Global has predicted the UK economy will contract by 9.7 per cent. Both [...]
UK PMIs: Manufacturing recovery continues despite fresh lockdown fears October 1, 2020 Britain’s manufacturing sector continued its strong recovery from the coronavirus slump in September, although it dropped off the record pace set in August. The IHS Markit/Cips manufacturing purchasing managers (PMI) index stood at 54.1 in September, with any score above the 50 mark indicating growth. In August, the index recorded a score of 55.2, its [...]
Spotting the right opportunity, at the right time October 1, 2020 | City Talk For an active trader, volatility always represents opportunity. As the most traded commodity in the world, this is especially the case for traders in the oil markets. Oil has traditionally been viewed as a relatively safe bet. While there are countless examples of a stock price dropping greater than 50 per cent in an instant [...]
FTSE 100 climbs on hopes of US stimulus breakthrough October 1, 2020 The FTSE 100 opened higher earlier today as hopes that the US would approve a fresh round of stimulus measures boosted investor confidence around the world. London’s premier index initially rose 0.5 per cent, to 5,896.38 points, currently trading at 5,872.07 as US markets open. The FTSE 250 of mid cap firms rose 0.1 per [...]
Tokyo Stock Exchange trading suspended due to technical glitch October 1, 2020 Trading on the Tokyo Stock Exchange was suspended today due to a technical glitch, marking the worst outage since Japan’s main stock exchange shifted to fully electronic trading in 1999. The Tokyo Stock Exchange, which is the world’s third-largest bourse, said trading would not resume for the rest of the day, throwing investment strategies into [...]
FTSE 100 on course for monthly decline as record GDP drop confirmed September 30, 2020 FTSE 100 flat as government figures confirm a masssive fall in UK GDP