Ferrari profits rise but Italian stallion won’t change gear on full-year guidance November 5, 2018 Profits at supercar manufacturer Ferrari rose almost five per cent in its third quarter, however the firm stuck to its full-year earnings guidance. The lack of an upgrade caused its share price to fall more than three per cent on the New York Stock Exchange in the first hour of trading this afternoon. Shareholders were [...]
Stage dive: Spotify opens down after disappointing subscriber outlook November 1, 2018 Spotify may post its first ever profit this year as the company wiped out a major part of its loss in its third quarter of trading. But promising results did not translate into success on the stock market as the streaming service dropped on the back of its subscriber predictions. The figures Paying users flocked [...]
FAANGs come out to play in Halloween shares surge October 31, 2018 Technology's biggest players, lumped together as the so-called FAANG stocks, have ended their October losing streak which had left investors spooked with just one day to go. Netflix's share price saw the biggest gains out of the FAANGs grouping, rising almost seven per cent this afternoon off the back of better-than-expected results for Facebook last night. The social [...]
The ICO landscape October 23, 2018 Last week we looked at how to assess the concept behind an ICO, but this week I want to “zoom out” a little, and talk about the competitive landscape in which ICOs are operating. It changes almost hourly, let alone daily, and it’s full of complexity, ambiguity, and contradiction. Sounds fun, right? For those blockchain [...]
Barrick’s merger with Randgold could spark $5bn asset sales, BMO says October 23, 2018 Canadian miner Barrick Gold's merger with Randgold Resources could spark up to $5bn (£3.85bn) of asset sales, BMO Capital Markets said. The merger, which will value the combined company at around $18bn (£13.86bn), could reinstate Barrick as the largest gold producer, however analysts said the company aims to become the lowest cost western-based gold producer. Read more: Gold [...]
Tencent delays its $2bn US stock listing due to soured market October 12, 2018 Tencent Music Entertainment has delayed its listing on the New York Stock Exchange until November at the earliest, as sources told Reuters it would rather wait until global markets have stabilised. The initial public offering (IPO) had been planned for as early as next week, which was set to raise at least $2bn (£1.5bn). "Given the [...]
Elastic, the open-source tech startup behind Uber and Tinder, scores $252m IPO October 6, 2018 Shares in Dutch open-source search startup Elastic skyrocketed as much as 106 per cent in its first day of official trading on the New York Stock Exchange yesterday, bucking the trend for tech stocks on Wall Street. The search and data analytics software firm, whose main product Elasticsearch powers technology behind big names such as Uber [...]
FTSE tobacco giants see share prices fall as US agency seizes documents from e-cigarette firm October 4, 2018 London-listed tobacco giants suffered a dip on the stock market this morning, as investors wobbled amid the news that a US federal agency is starting to flex its muscle over e-cigarette companies. Shares prices in British American Tobacco and Imperial Brands have dived 2.4 per cent and 1.6 per cent respectively on the FTSE so far today, as [...]
Tesla shares drop despite board backing for Elon Musk after SEC lawsuit September 28, 2018 Tesla shares plunged almost 14 per cent today as boss Elon Musk faced the prospect of a ban from ever running a public company again. The electric car company’s board hailed Musk’s “integrity and his leadership” after the US Securities and Exchange Commission (SEC) filed legal action against him late last night. Read more: US watchdog [...]
Chinese currency transactions in London soar 30 per cent in second quarter September 26, 2018 Chinese currency transactions in London increased by more than 30 per cent this year, hitting £70bn in the second quarter. The capital retained its position as the largest renminbi (RMB) clearing centre outside of Greater China, according to a report by City of London Corporation and the People's Bank of China. Read more: China accuses US of [...]