UK PMI: Manufacturing output jumps but coronavirus looms March 2, 2020 Britain’s manufacturing sector grew at its fastest rate in ten months in February, UK PMI survey data has shown, although coronavirus has begun disrupting the industry. The IHS Markit/Cips manufacturing purchasing managers (PMI) index hit 51.7 in February, up from 50 in January, with a score above the 50 mark indicating expansion. The reading was [...]
Investec’s asset management arm Ninety One to push ahead with float despite market turbulence March 2, 2020 Investec’s asset management arm Ninety One said today it would push ahead with a planned float despite a recent sell off in global markets. It said today it had set a price range of 190p to 235p giving it a value of £1.75bn to £2.1bn. The company said it would persist with its initial public [...]
Coronavirus: Asian stocks turn green on Bank of Japan stimulus pledge March 2, 2020 Asian stocks stemmed their losses overnight as shares rose in response to the Bank of Japan’s move to inject stimulus to save its economy from the worst impact of the coronavirus outbreak. The Nikkei and Hong Kong’s Hang Seng both climbed after Bank of Japan governor Haruhiko Kuroda pledged to help protect markets from exposure [...]
Draper Esprit leads $83m funding round in Thought Machine March 2, 2020 Technology company Thought Machine has raised $83m (£64.74m) in series B funding led by Draper Esprit. The venture capital firm, which has invested in a number of fintech businesses, contributed £26.5m to the funding for Thought Machine, a technology company that builds cloud-native technology for banks. Thought Machine’s banking platform, Vault, counts Lloyds Banking Group, [...]
NMC Health hires investment bank Moelis for debt restructuring March 1, 2020 NMC Health has hired investment bank Moelis to advise on a debt restructuring, in the latest turn of events for the embattled healthcare operator. Reuters reported that three sources familiar with the matter said NMC had hired the bank in relation to its ability to meet debt obligations. Last week the Financial Conduct Authority announced [...]
Could coronavirus push global stock markets into bear territory? March 1, 2020 After coronavirus fears sent US and UK stocks to their worst week since the 2008 financial crisis, some analysts are raising the prospect that equities could fall into bear market territory – a fall of 20 per cent from recent highs. The US’s S&P 500 index has slumped 13 per cent since it hit a [...]
US stocks slip to worst week since 2008 as coronavirus fears grip global markets February 29, 2020 US stocks suffered their worst week since the financial crisis in 2008 as Wall Street followed the FTSE 100 and other global markets in continuing to plunge on Friday with coronavirus fears causing uncertainty. The S&P 500 fell a further 0.8 per cent on Friday to bring its losses to 13 per cent since hitting [...]
FTSE 100 loses more than £200bn after worst week since 2008 as coronavirus fears grip global markets February 28, 2020 The FTSE 100 has shed a reported £206bn after suffering its worst week since the 2008 financial crisis as new cases of coronavirus pummelled global stock markets. London’s blue-chip index closed at 3.18 per cent down for the day to end a dire week for listed companies who have issued warnings on the coronavirus outbreak. [...]
132 UK companies issue coronavirus warnings as FTSE 100 spirals February 28, 2020 More than 100 UK-listed companies have now warned the stock market of the effects of the coronavirus on their businesses, according to figures released today. British giants like Guinness brewer Diageo and British Airways owner International Airlines Group are just two of 132 companies to issue warnings to investors. In the last week alone, 62 [...]
Oil prices drop again as coronavirus cases escalate February 28, 2020 Oil prices fell again today as the spread of the coronavirus cast uncertainty over the world economy. Oil prices saw further falls after an initial rally today after yesterday’s slump. A spike in the number of coronavirus cases dragged prices back down, along with the world’s stocks. Brent Crude plunged almost five per cent to [...]