FTSE 100 close: British Gas owner propels to top of London index after record profit July 27, 2023 London’s FTSE 100 bumped higher today after a manic morning of company earnings gave a lift to market sentiment. The capital’s premier index added 0.21 per cent to reach 7,692.77 points, while the domestically-focused mid-cap FTSE 250, which is more aligned with the health of the UK economy, climbed 0.45 per cent to 19,273.37 points. [...]
European Central Bank hoists interest rates to joint record high of 3.75 per cent July 27, 2023 The European Central Bank (ECB) today lifted interest rates for the ninth time in a row, following the US Federal Reserve’s rise last night. It means the eurozone’s key interest rate now stands at 3.75 per cent, its highest level in 22 years. President Christine Lagarde and the rest of the governing council opted for [...]
Bitcoin offers muted response to interest rate hike July 27, 2023 Bitcoin was trading close to $29.5k - up by around one per cent on yesterday, while Ethereum’s Ether is in the green by 1.1%.
Federal Reserve sends US interest rates to 22 year high in possible final hike July 26, 2023 The US Federal Reserve today launched what many on Wall Street think will be the final interest rate hike in its current tightening cycle. Members of the federal open market committee (FOMC) backed a 25 basis point increase to leave the federal funds rate at a range of 5.25 per cent and 5.5 per cent. [...]
Carmen Stevens on philanthropy, wine and South Africa July 26, 2023 The first black South African to study winemaking in South Africa, Carmen Stevens owns the first black-owned winery in the country and, aided by her partnership with Naked Wines in the UK, provides meals to 25,000 hungry school children in Stellenbosch each year through ‘Carmen’s Kids’. WHAT GOT YOU INTO WINE? Wine has a lot [...]
Deutsche Bank flags cost cuts as investment bank slump lowers profit July 26, 2023 Deutsche Bank on Wednesday posted a 27 per cent fall in second-quarter profit as investment banking revenue slumped and warned of the need for cost cuts even though higher interest rates fuelled gains at its retail division. The German lender downgraded its outlook for the investment bank, saying it now expected revenues to be slightly lower [...]
FTSE 100 close: Unilever helps London index squeeze out gains as traders eye Fed and ECB July 25, 2023 London’s FTSE 100 has squeezed out gains in a busy day of company announcements ahead of the summer slow down. The capital’s premier index edged 0.17 per cent higher to 7,691.81 points, while the domestically-focused mid-cap FTSE 250 index, which is a better reflection of the health of the UK economy, was broadly flat at [...]
Bitcoin loses grip on $30,000 as interest shifts to altcoins July 25, 2023 Bitcoin is trading around $29,200 this morning, as the large-cap cryptocurrencies appear to following a downward pattern.
Bitcoin picks up where it left off with eyes on $30,000 July 24, 2023 Bitcoin and other cryptocurrencies continue to idle as investors wait for significant signals for their next move
Oil markets consolidate July’s gains as China prepares stimulus measures July 24, 2023 Oil prices remain above $80 per barrel, with predictions of stimulus measures in China underpinning both major benchmarks.