Pacwest explores potential sale as US banking turmoil looks set to roll on May 4, 2023 After its share price tanked 50 per cent yesterday, Pacwest confirmed late last night that it was exploring "all options to maximise shareholder value" following reports that it was looking at a potential sale.
Price of Bitcoin moves above $29,000 after US Federal Reserve raises interest rates May 4, 2023 Bitcoin is in the green today after recovering from a slight dip following the Federal Reserve’s announcement yesterday of another 0.25% rate hike.
Federal Reserve bumps interest rates 25 basis points higher in what may be its final hike May 3, 2023 The US Federal Reserve today hiked interest rates for the tenth time in a row in what could be its final move.
Calm for now: US regional banks make small gains ahead of Fed rate decision May 3, 2023 Regional banks in the US notched small gains on Wednesday as the sector seemed to calm down following yesterday’s sell-off. Pacwest was trading 3.3 per cent higher while Western Alliance was up 2.1 per cent. The KBW Regional Bank index was up 1.2 per cent. Larger lenders were more mixed. JP Morgan was down 1.1 [...]
FTSE 100 close: London index claws back losses ahead of US Federal Reserve interest rate decision May 3, 2023 London’s FTSE 100 regained ground this today after nursing sharp losses yesterday driven by fears over the global banking system flaring up again. The capital’s premier index jumped 0.2 per cent to 7,788.38 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0.27 per [...]
Oil dips below $70 per barrel as flagging US and Chinese economies weigh prices down May 3, 2023 Oil prices have fallen below $70 per barrel today, weighed down by growing concerns over the health of the US and Chinese economies.
Bitcoin price pushes upwards as investors wait for latest rate hike decision May 3, 2023 Bitcoin is trading comfortably above $28k and closer to $29k this morning, while Ethereum (ETH) is trading in the green for $1,866.
US regional banks face big sell-off despite First Republic rescue deal May 2, 2023 Regional banks across the US were under pressure today as investors became increasingly nervous about the state of the banking sector despite JP Morgan’s acquisition of First Republic Bank. The KBW regional bank index, which includes a range of regional lenders, shed 6.6 per cent. Pacwest Bancorp shares were down nearly 30 per cent, while [...]
FTSE 100 close: Wall Street sea of red offsets HSBC and Persimmon gains in London May 2, 2023 London’s FTSE 100 was dragged deep into the red in the final hours of trading today after Wall Street was pushed lower by investors sweating over more possible banking collapses. The capital’s premier index initially climbed in the morning before eventually closing 1.23 per cent lower at 7,774.12 points, while the domestically-focused mid-cap FTSE 250 [...]
Oil markets tumble as hawkish Fed and sluggish Chinese growth drive down prices May 2, 2023 Oil prices dropped heavily today, amid growing expectations of interest rate hikes from the US Federal Reserve and European Central Bank.