FTSE 100 climbs as ‘relief rally’ pushes global equities higher September 28, 2020 The FTSE 100 has started the week off strong, climbing as much as 1.69 per cent amid a global “relief rally” as investors rushed to buy up shares in beaten-down sectors after last week’s sharp stock market sell-off. Blue chips HSBC and spirits-maker Diageo helped boost the British blue-chip index on Monday, which was also [...]
Retail trading – don’t become a one-trick pony September 28, 2020 | City Talk The markets around the world have recently been a hive of activity and volatility. When this occurs, it presents a multitude of potential trading opportunities. This has given birth to a new breed of traders accessing their platforms. The average trader nowadays does not want to be confined to a single asset class or product; [...]
Britain and EU reach temporary agreement on derivatives clearing September 28, 2020 Britain and the EU have reached a temporary accord on the information-sharing arrangements needed for eurozone banks to continue to use London’s clearing houses until June 2022. Britain’s unfettered access to the bloc’s markets ends on 31 December. Brussels had already agreed to grant UK clearing houses temporary access for 18 months, but an updated [...]
Evidence on negative rates ‘encouraging’, says Bank of England policymaker September 27, 2020 The Bank of England has seen “encouraging” evidence that negative interest rates could help the British economy during the downturn triggered by the coronavirus, a policymaker has said. Silvana Tenreyro, who sits on the Bank’s monetary policy committee (MPC), said the committee has been discussing what options it has in its toolkit, including “how effective [...]
FTSE 100 slips but US stocks rise amid Covid worries September 25, 2020 The FTSE 100 slipped but US stocks rose as European stocks headed for their worst week since June, with investors rattled by rising coronavirus cases. London’s blue chip index was down 0.1 per cent to 5,819 points as it approached the close, despite having opened higher. The FTSE 250 was up 0.8 per cent, however. [...]
Boris Johnson: UK can be ‘launchpad’ for green industrial revolution September 24, 2020 Boris Johnson has said that the UK will lead the world in the world in the transition to a net zero economy, saying that climate action cannot be “another victim of coronavirus”. Speaking to a United Nations roundtable on climate change this afternoon, the PM said that the UK will serve “as a launch pad for [...]
How mid-market businesses can keep on top of their evolving VAT obligations September 24, 2020 | City Talk In this article, I ask my VAT colleague, Mitchell Piper, for his views on how businesses can keep up to date with VAT changes. Value Added Tax (VAT), like all taxes, evolves over time to adapt to changes in society, technology and business practices. Good examples of this are the recent VAT rate reductions in [...]
FTSE 100 and Wall Street drop as coronavirus fears return September 24, 2020 The FTSE 100 fell today after two consecutive days of climbs as investors’ nerves over the impact of coronavirus on the economy returned. London’s blue-chip stock index fell 1.1 per cent to 5,835 points by the mid-afternoon, while the mid cap FTSE 250 index fell by the same margin. Meanwhile, after a sharp sell-off on [...]
US jobless claims rise as economic recovery stalls September 24, 2020 The number of Americans making new claims for unemployment benefits rose slightly last week amid worrying signs that the economic recovery was stalling. There were 870,000 jobless claims last week, up from 866,000 for the week ending 12 September, according to figures from the US Labor Department. The rise came as a shock to economists, [...]
2020: The year to start trading volatility September 24, 2020 | City Talk Newton’s third law dictates that for every action there is an equal and opposite reaction. It is a law whose logic can be seen in movements of the market. Political shocks and scandals, natural disasters and pandemics, and now even incendiary tweets, can set off jitters and tremors across all markets. Before this summer, the [...]