UK GDP grows 0.4 per cent in February despite third lockdown restrictions April 13, 2021 The UK economy edged up 0.4 in February as it rebounded from a 2.2 per cent decline in January, the Office for National Statistics said this morning. Wholesale and retail trade sales picked up slightly, but consumer-facing services industries remained well below pre-pandemic levels. The services sector grew by 0.2 per cent. Output in the [...]
The Week Ahead: Tesco, Coinbase IPO, JD Sports, JPMorgan, Goldman Sachs April 12, 2021 Some of the biggest banks are set to report earnings this week, with JPMorgan, Wells Fargo and Goldman Sachs all due on Wednesday. On a macro level, Tuesday’s UK GDP figures and inflation data from the US are undoubtedly going to be important. Meanwhile, the largest US cryptocurrency exchange, Coinbase, goes public. City A.M. looks at [...]
FTSE falls as England starts to reopen April 12, 2021 London’s main market fell 0.4 per cent this morning despite positive sentiment about England starting to open up following the coronavirus lockdown. The FTSE 100 was down 0.4 per cent while the FTSE 250 fared slightly better, down a more moderate 0.2 per cent. For most, today marks the first day of 2021 that non-essential [...]
S&P 500 and Dow climb for third day and close at records April 9, 2021 The S&P 500 and the Dow rose to close at record highs, posting a third straight weekly rise partly on lift from growth stocks, with a late-day rally building gains ahead of quarterly earnings season next week. The Dow Jones Industrial Average rose 299.21 points, or 0.89 per cent, to 33,802.78, the S&P 500 gained [...]
FTSE 100 falls as fresh lockdowns across Europe dampen economic outlook March 19, 2021 The FTSE 100 fell this morning as fresh Covid-19 lockdowns across Europe dampened hopes of a swift recovery in demand for industrial stocks including energy. London’s blue-chip index sank 1.2 per cent, before recovering slightly to sit 0.6 per cent down at 8.30am. Oil heavyweights BP and Royal Dutch Shell fell 3.2 per cent and [...]
FTSE 100 follows global markets higher, as 15m Brits get first jab February 15, 2021 FTSE 100 follows global markets higher, as 15m Brits get first jab
Exclusive: Brexit hit to London may top £9.5bn a year without EU financial services deal February 10, 2021 As the heart of the UK's service sector economy, London is in line to lose up to £9.9bn a year if a post-Brexit deal on financial services doesn't protect the City, new research out this morning finds.
JD Sports eyes EU warehouse as boss warns Brexit ‘worse than feared’ February 9, 2021 JD Sports is set to open an EU-based distribution centre to cope with increased Brexit red tape and tariffs. The decision could see up to 1,000 jobs moved to the continent amid concerns over delays in shipping goods and red tape just a month after post-Brexit trade rules came into effect. Chairman Peter Cowgill told [...]
JD Sports raises £464m to fund future expansion plans February 4, 2021 Sportswear brand JD Sports this morning announced it had raised £464.2m which it will use to fund its expansion plans as it eyes acquisition opportunities in new markets. The retailer said that it had placed 58.4m new shares at 795 pence a share, representing about 6.0 per cent of its share capital. The successful raise [...]
Kaz Minerals owner tables £3.7bn bid to take miner private February 4, 2021 Kaz Minerals has this morning received an increased £3.7bn offer from Nova Resources after an earlier bid was rejected. Nova, which is led by Kaz chairman Oleg Novachuk, first made a 640p per share offer for the London-listed miner back in October. However, due to a rise in global copper prices, the firm’s shares have [...]