‘Stagnation at best’: UK’s giant services sector flatlines as Brexit uncertainty continues November 5, 2019 The UK’s enormous services sector flatlined in October as Brexit uncertainty dented demand, signalling a weak start to the third quarter for the UK economy. Read more: ‘Distressing decline’: UK construction sector contracts again in October The services purchasing managers’ index (PMI), which measures the performance of the sector, came in at 50 last month, [...]
FTSE 100 climbs higher on US-China trade war hopes as pound slips November 5, 2019 The FTSE 100 opened higher as it mirrored a rise in Asian markets and Wall Street overnight amid growing optimism over US-China trade negotiations. Buoyed by reports that President Trump may remove tariffs from some Chinese goods, Japan’s Nikkei climbed 1.8 per cent while China’s Shanghai Composite moved 0.5 per cent higher. Read more: US [...]
IPO costs knock Trainline into loss despite jump in ticket sales November 5, 2019 Trainline fell to a post-tax loss of £89m following its June IPO despite a 20 per cent boost to net ticket sales in its half-year results, it said today. Read more: Trainline increases revenue expectations as sales soar The figures Trainline recorded an £89m loss after tax in the six months to the end of [...]
Saudi Aramco IPO: The pros and cons November 5, 2019 Saudi Aramco is the mother of all oil companies, and the most profitable business in the world. Last year, its net income stood at $111bn, dwarfing the earnings of other oil giants. So the announcement on Sunday that the state-owned Saudi Arabian company will finally go public is massive news for investors, and marks the [...]
UK consumer spending growth slows under Brexit uncertainty November 5, 2019 UK consumer spending slowed in October, a new report has shown, as Brits remained cautious with their money in the run-up to the missed 31 October Brexit deadline. Read more: UK economy to hit decade low even with Brexit deal, report warns Spending at the shops grew by 1.5 per cent in October year on [...]
US stock markets hit all-time highs on trade war optimism November 4, 2019 The US’s three biggest stock markets hit all-time highs today as growing optimism about a US-China trade deal and loose global monetary policy caused investors to snap up risk assets. Read more: Donald Trump reveals ‘phase one’ trade agreement with China The benchmark S&P 500, the Dow Jones industrial average, and the tech-heavy Nasdaq had [...]
US factory orders fall in September as trade war bites November 4, 2019 US factories suffered a steeper-than-expected fall in orders in September, survey data has shown, suggesting the country’s manufacturing sector is still being held back by the US-China trade war. Read more: US Fed lowers rates but signals it is done cutting Goods orders in the manufacturing sector fell 0.6 per cent last month compared to [...]
The Brexit ‘clock is ticking’ … until the next extension November 4, 2019 | City Talk Brexit is quite possibly the most destabilising event in recent market history. Clearly this has the most direct effect on the UK markets, but it also applies to the remaining member states of the European Union (EU). The idea that ‘financial markets like certainty’ is so often quoted that one wonders why 650 members of [...]
EDF Energy purchases electric vehicle charging start-up Pivot Power November 4, 2019 French energy giant EDF Energy has bought UK electric vehicle charging and battery storage start-up Pivot Power as it continues its push into the renewables sector. The move will allow state-owned EDF, which is already the biggest low carbon electricity producer in the UK, to push into the battery storage market. Read more: EDF Energy [...]
Anglo Pacific on track for record year of revenue November 4, 2019 UK-based miner Anglo Pacific said that it was on for another record year of revenue, as increases in volumes underpinning the company’s royalties offset lower commodity prices. Over the first nine months of the year the company enjoyed a 40 per cent increase in portfolio contribution, growing to £46m from £33.1m in the same period [...]