How China is lighting up the spirits world at home and abroad February 19, 2021 The spirits market in China is flourishing. With income among Chinese consumers rising, more Western spirits are now getting into China than are coming out. But the decades-long popularity of dark spirits among the Chinese middle classes are starting to bear fruit in the form of premium spirits now being imported into the UK. Changyu [...]
Copper touches highest levels since 2012 as metals rally continues February 16, 2021 Copper prices hit their highest levels in nearly a decade today as Chinese demand and the global economic recovery extended the red metal’s rally. For the third session in a row London Metal Exchange copper hit fresh multi-year peaks, having rallied by 93 per cent since last March. LME copper pushed up 0.3 per cent to $8,416.50 [...]
JP Morgan hints it could join party as Bitcoin continues to flirt with $50k February 16, 2021 Crypto at a Glance Did Bitcoin hit $50k overnight? Sadly, it seems that such talk is premature and limited to just one or two exchanges. Although a few sources called it, they were very much in the minority and it looks like the wait continues. Will it happen this week? If the good news continues to [...]
Vivendi plots €30bn stock market listing for Universal Music Group February 13, 2021 Vivendi is planning to list Universal Music Group and distribute 60 per cent of its capital to investors by the end of the year as it looks to cash in on the rising value of music assets. The French media group today said it has set a minimum target of €30bn (£26bn) for the listing, [...]
Before the Bell: Firm focus on UK GDP numbers this morning February 12, 2021 It was another uneventful day in the markets yesterday as fresh news stories were thin on the ground. The same old headlines about vaccines being distributed and optimism with respect to President Biden getting his $1.9 trillion stimulus plan approved in the next few weeks continued to be the main focus of traders’ attention. Both [...]
Best of travel: Beijing and its surprising contemporary art scene February 9, 2021 To tide us over until we’re able to travel again, we’re republishing classic travel stories from our archives. This week we revisit Laura Millar’s exploration of Beijing’s contemporary art scene. Read more: Jaguar XF P300 review: revitalised luxury at a surprisingly low price ••• Picture the likes of London’s White Cube, the Saatchi Gallery, and the [...]
Oil prices hit highest levels in 13 months on back of supply cuts February 9, 2021 A seventh straight session of gains sent oil prices to their highest levels since January 2020 this morning. The rise was driven by a combination of supply cuts by major producers and optimism over a recovery in fuel demand support energy markets. Benchmark Brent crude futures picked up 0.7 per cent to stand at $60.97 [...]
What is Clubhouse? The $1bn app loved by Elon Musk and Mark Zuckerberg February 9, 2021 Elon Musk knows how to send markets into a tizzy, with his tweets about bitcoin and dogecoin sending prices skyrocketing. Now invite-only audio app Clubhouse is the latest craze to feel the Elon effect. At the end of last month Musk made his first appearance on the audio app with Robinhood’s chief executive. The stream maxed [...]
City A.M. TV: Daily market snapshot (video) February 8, 2021 Is there a message for western markets from Asian price action? Various key Asian markets, including the Chinese Shanghai Composite, Hong Kong’s Hang Seng and Korea’s Kospi, have all struggled to break above key technical levels in recent trading sessions. That stands in contrast the price action in the US (at new highs) and Germany’s [...]
British investors should keep a wary eye on Chinese delisting in the Caymans February 6, 2021 The rise of China is one of the biggest geopolitical issues the West faces and our MPs are rightly becoming increasingly concerned about the regime’s continued human rights and security abuses. The latest threat, however, is very different and strikes at the heart of our financial system; a threat that is being facilitated by of one of Britain’s own [...]