FTSE 100 rises but Wall Street falls again on job data September 4, 2020 The FTSE 100 reversed yesterday’s losses, closing in on the 5,900 point level this morning despite last night’s ferocious sell-off of US tech stocks dragging markets down overnight. By the early afternoon London’s premier index was 0.7 per cent up at 5,888.96. The FTSE 250 index of mid caps also rose 0.2 per cent. However, [...]
FTSE 100 rally cools as Wall Street slips from overnight highs September 3, 2020 The FTSE 100’s rally slowed this afternoon, with London’s premier index trading 0.3 per cent up at 5,957.69 points as of the early afternoon. Optimism that the economy could be in line for further stimulus measures kept the market in the black even as Wall Street slipped from last night’s record highs. The FTSE 250 [...]
Apple overtakes value of entire FTSE 100 September 1, 2020 US tech titan Apple today overtook the entire market capitalisation of the UK’s FTSE 100 companies. The iPhone maker’s market capitalisation topped $2.2 trillion (£1.6 trillion) today, overhauling the combined value of the UK’s blue chip index. Apple’s share price has leaped 75 per cent this year and last month the company became the first [...]
Tesla seeks to cash in on record run with $5bn share sale September 1, 2020 Tesla today said that it would sell $5bn (£3.7bn) in new shares as the electric car maker seeks to cash in on a record rally which has seen the stock rise nearly 500 per cent this year. According to a filing to the US Securities and Exchange Commission, the new shares will be sold “from [...]
SpaceX receives $2bn boost in latest funding round August 18, 2020 Elon Musk’s SpaceX has raised a further $1.9bn (£1.4bn) in funding, a regulatory filing on Tuesday revealed. It raises the equity value of the billionaire’s private rocket company to $46bn, Bloomberg reported ahead of the funding round last week. It is the largest single fundraising round conducted by SpaceX yet, according to PitchBook data. It [...]
Tesla shares spike on five-for-one stock split August 12, 2020 Tesla’s move to split its stock into smaller chunks caused its share price to jump more than eight per cent as markets opened this afternoon. Analysts said the split had the potential to extend a 200 per cent rally in Tesla’s shares this year by making it easier for retail investors to hold the stock. [...]
Chinese car sales surge for fourth consecutive month in July August 11, 2020 Sales of Chinese cars jumped 16 per cent year on year last month in the fourth consecutive month of gains as the world’s biggest auto market kicks back into gear after the coronavirus shutdown. According to data from the China Association of Automobile Manufacturers (CAAM), sales rose to 2.11m units in July. However, for the [...]
AIG racks up $730m loss amid ‘ongoing catastrophe’ of pandemic August 4, 2020 Insurance giant American International Group (AIG) has piled up $730m (£558.7m) in coronavirus-related losses during the first half of 2020, its chief executive said today. AIG chief executive Brian Duperreault warned of the “formidable and ongoing catastrophe” of the pandemic, as he ran through the insurer’s results in a call with analysts. The firm, which [...]
Apple shares sink on US deceptive practices probe report July 23, 2020 Shares in Apple fell more than four per cent this evening following a report that the tech firm is facing a probe in multiple US states, which allege it engages in deceptive practices. A March document obtained by a tech watchdog group showed the Texas attorney general may sue Apple for violating the state’s deceptive trade practices [...]
Musk’s SpaceX in talks to raise funds at $44bn valuation July 23, 2020 Rocket company SpaceX is said to be in talks to raise a new round of funding at a $44bn valuation, following a successful few months for the tech firm. SpaceX is seeking to raise approximately $1bn priced at $270 per share, people familiar with the matter told Bloomberg. Helmed by tech billionaire Elon Musk, SpaceX [...]