Launch of $2.5bn Asian bond a ‘vote of confidence’ in London Stock Exchange May 15, 2019 A $2.5bn (£1.9bn) bond from the Asian Infrastructure Investment Bank (AIIB) was welcomed by the London Stock Exchange (LSE) today, with its launch dubbed “a vote of confidence in the UK”. Read more: London Stock Exchange boosts income and notes improved listing environment The five-year bond will list on the LSE’s main market on 17 [...]
Global stocks reverse falls after reports Trump will delay auto tariffs May 15, 2019 Global stock markets have rallied after US President Donald Trump was reported to be planning to delay tariffs on car imports by up to six months. Read more: US stocks fall as industrial sector contracts for third time in four months Investors had been in sell-off mode amid heightened trade tensions between the US and [...]
The two main advocates of nationalisation without market value compensation: Venezuela and Corbyn’s Labour Party May 15, 2019 Labour's shadow chancellor can be quite charming when he wants to be. He can also be quite thuggish, and has yet to apologise for his comments about “lynching” former Tory minister Esther McVey. But it was charming John who spoke to an audience of CEOs earlier this week, during which he was asked by one [...]
US stocks fall as industrial sector contracts for third time in four months May 15, 2019 US industrial production unexpectedly fell for the third time in four months in news that will displease the Trump administration as it wages a trade war on China. Read more: European markets back in red following weak Chinese data Industrial production fell 0.5 percent in April, meaning output declined at an annual rate of 1.9 per [...]
European markets back in red as China shows signs of hurting under trade war May 15, 2019 European stocks have fallen after opening higher this morning, as weaker-than-expected Chinese economic data hinted at the effects of the US-China trade war. Read more: China retaliates with tariffs on $60bn of US goods Official figures today showed China’s industrial output growth slowing to 5.4 per cent year-on-year in April, a worse-than-predicted figure and much [...]
London-listed Tharisa hit by South African power outages May 15, 2019 Markets seemed to reward miner Tharisa today despite what on the face of it looked like a poor set of results as the company worked to reconfigure a mine and battled South African power shortages. The figures Production of platinum-group metals (PGMs), which include rhodium and palladium, dropped 12.2 per cent to 67,600 ounces in [...]
Trainline owner mulls £1bn sale as IPO plans build up head of steam May 15, 2019 The owner of ticketing firm Trainline is reportedly exploring a sale of the company alongside plans for a £1bn stock market listing. Read more: UK's biggest travel booking app Trainline considers £1bn flotation US investment giant KKR, which has owned Trainline since 2015, has approached a number of private equity groups to gauge interest in [...]
Oil surplus set to crash into deficit, energy agency warns as US sanctions take countries offline May 15, 2019 Opec suppliers could have to step in to meet a “highly likely” deficit in global oil markets, the International Energy Agency (IEA) has warned months after the oil producing cartel slashed production. The deficit could reach around 700,000 barrels of oil per day, the IEA said, the same size as the surplus in the first [...]
European growth aided by UK expansion and German bounce-back May 15, 2019 Growth in the Eurozone and European Union picked up in the first quarter of the year after a rough patch, with the UK showing solid expansion, the EU’s official statistics body confirmed today. Read more: Euro rises as Eurozone economy shows stronger-than-expected growth GDP growth in the EU rose to 0.5 per cent quarter-on-quarter, after growing [...]
Travelex owner Finablr launches London IPO at reduced price in tough market conditions May 15, 2019 United Arab Emirates-based payments company Finablr floated in London today at a reduced price to reflect difficult market conditions. The Travelex-owner said it would raise £306m to give the business a market capitalisation of approximately £1.225bn. Read more: Travelex-owner Finablr to raise $200m in London listing The offer price has been set at 175p, well [...]