Before the Bell: Volatility remains low but Trump faces impeachment vote January 13, 2021 Stock markets had a relatively quiet session yesterday as there wasn’t any major news to influence sentiment in one way or another. European stocks lost ground as Covid-19 case numbers played on traders’ minds. Several governments have tight restrictions in place in a bid to get a handle on the virus – which is having [...]
Exclusive: UK eyes adding climate provisions in US trade talks to woo Joe Biden January 13, 2021 The UK will try to add new provisions on climate change and environmental standards in US trade negotiations in a bid to woo incoming President Joe Biden. Trade secretary Liz Truss wants to build on current negotiations with the Donald Trump administration and potentially add things like enhanced protections on air pollution and corporate transparency [...]
Before the Bell: Tech firms under pressure as Europe poised for modest rebound January 12, 2021 Equities sold off yesterday as last week’s bullish mood was swapped for a more cautious attitude. There was an absence of positive news yesterday so the stories about the health crisis were at the centre of attention, David Madden, market analyst at CMC Markets UK, tells City A.M. this morning. The Chinese authorises announced the [...]
Before the Bell: Equities and copper are on a roll January 8, 2021 Equity markets in Europe and the US enjoyed rallies yesterday as traders bought stocks on the back of the view that the future Biden administration will be keen to use stimulus packages to support the economy. In late December, lawmakers signed off on a $900bn relief package but in October, Nancy Pelosi, of the Democrats, [...]
Before the Bell: Bulls in control, calm restored to Capitol Hill January 7, 2021 The disturbance at Capitol Hill derailed the process of certifying the Biden electoral victory for a number of hours last night but was then resumed so the final confirmation of Biden’s win should be relatively straightforward. Moreover, the FTSE 100 had a stellar run yesterday as it closed up more than 3 per cent and [...]
Exclusive: City broker ATFX ceases retail trading activities, closes Polish office January 5, 2021 City-based broker ATFX UK has closed its Polish satellite office following the decision to cease all services for retail clients. City A.M. spoke with four former employees in the firm’s Krakow office, who said all Poland-based ATFX employees had been made redundant at the beginning of December. In addition, several positions in both Hong Kong and London have [...]
Before the Bell: Softer start expected amid tighter restrictions January 5, 2021 European stock markets closed higher yesterday as the sentiment was broadly bullish and the FTSE 100 gained the most ground by a long way. The UK market closed up 1.7 per cent, while the DAX 30 finished fractionally higher and CAC 40 posted a gain of almost 0.7 per cent. Yesterday marked the first day [...]
Volatility was the name of the game in 2020: What were the most popular sectors, funds and shares? January 4, 2021 Volatility was the name of the game in 2020 as the pandemic wreaked havoc across the globe. The spread of Covid-19 was a shock to the financial system, stock markets plunged and companies battened up the hatches. Despite the vaccine breakthroughs markets are still deep in a tunnel of uncertainty about when the global economy [...]
Investor Central: Funds to keep an eye on in 2021 January 4, 2021 Following an unpredictable 12 months, investors are turning their attention to opportunities in 2021. Square Mile-based Tom Stevenson, investment director for personal investing at Fidelity International, shared with City A.M. what his fund picks are for 2021. “None of us possesses a crystal ball. However, as I put my picks together at the end of 2020, investors [...]
This Week: PMIs, Morrisons, Next, US unemployment, Fed, M&S January 4, 2021 City A.M. looks at the first business week of 2021 with Michael Hewson, chief market analyst at CMC Markets UK. Monday: UK PMIs for December Flash numbers in the middle of December were surprisingly encouraging, with manufacturing rising to 57.3. “No doubt due to some pre-Brexit stockpiling. services also managed to rebound a touch, coming [...]