Glencore, Anglo American and Antofagasta share price: FTSE Mining shares bounce on steady copper prices March 14, 2016 Mining shares jumped today, tracking copper prices which steadied just below four-month highs following good news out of top consumer China. Copper prices were up 1.6 per cent to $4,970 per metric tonne on the London Metal Exchange in mid-afternoon trading. They were buoyed by assurances from an important securities regulator that top Copper consumer China will [...]
Hinkley Point C nuclear power station: EU gives EDF and China’s CGN okay for £18bn project March 11, 2016 The European Union's competition authority has given French utility giant EDF and Chinese nuclear firm CGN regulatory approval to build the controversial Hinkley Point C project. Hinkley is being financed by the two companies and will cost around £18bn. However, there's rising concern over whether EDF's already stretched balance sheet will be able to absorb this. "The [...]
London’s best steamed buns: Where to find the ultimate street-food snack March 11, 2016 Steamed buns – variously known as baozi, bao, humbow, nunu, bakpau, bausak, pow – are quite possibly the best thing ever. East Asian countries including Korea, Taiwan, China and Japan all have their own take on this light, fluffy package of sweet or savoury goodness. Thankfully, London has plenty of places you can pick them [...]
EU referendum: Savills posts record results but warns uncertainty surrounding Brexit vote could slow UK housing market March 10, 2016 Estate agency Savills posted a strong start to the year but warned that it expects the UK property markets to cool this year due to stamp duty reforms and uncertainty ahead of the EU referendum. The company beat analyst forecasts by posting a 21 per cent rise in pre-tax profit to £121.4m last year, fuelled by its expansion in the [...]
It’s Waterloo for the global economy – and we’re dangerously lacking reinforcements March 10, 2016 What has 1815 and the Battle of Waterloo got to do with 2016 and the world economy? On 18 June 1815, the Duke of Wellington could feel the battle slipping away, but he also knew the Prussians under General Blucher were coming and that could win the day. Fast forward to 2016 and there is no [...]
The world’s largest sovereign wealth fund had its worst year since 2011 last year, but managed to avoid negative returns March 9, 2016 The Norwegian Sovereign Wealth Fund has returned 2.7 per cent on its investments in 2015 thanks to a rally in equities late in the year. The low oil price and slowing emerging markets dragged on returns however, meaning the world’s largest sovereign wealth fund recorded its weakest performance since 2011. The oil fund, managed by [...]
FTSE 100 index opens flat as Prudential rises but miners extend losses after falling yesterdays March 9, 2016 The FTSE 100 index opened flat today, after it faltered yesterday on the back of weak Chinese trade data. The UK's blue-chip index rose 0.02 per cent to 6,126 points on the news. "The weakness of yesterday’s data merely serves to reinforce the importance of this weekend’s retail sales and industrial production data. A similarly abysmal showing here [...]
Buy when there’s blood on the floor: The market chaos of January and February has created a buying opportunity March 9, 2016 There was much to concern investors in the first two months of 2016. Chinese growth has slowed further, and the renminbi devaluation has kept investors nervous that there is a more intense currency war ahead. Commodity prices have remained under pressure, with oil prices hitting the lowest levels since 2003. Closer to home, investors have [...]
Pizza Express serves up strong half-year sales as it ramps up expansion March 8, 2016 Pizza Express sales have jumped by 15.9 per cent over the last six months, boosted by new menu launches and its expansion both in the UK and abroad. The chain, which was sold to Chinese private equity firm Hony Capital in 2014 for £900m, said turnover grew to £267.2m in the 28 weeks to 10 January compared with [...]
Burberry’s share price jumps as mystery investor shops at the luxury group March 8, 2016 Burberry lead the FTSE 100 this morning after reports last night that a mystery investor has built up a five per cent stake in the luxury goods company. Regulatory filings show that the shareholder's stake went over the five per cent disclosure threshold on 11 February, with HSBC acting on behalf of the investor. A separate [...]