Rihanna roils markets as China bags a key element March 16, 2018 Garry White, chief investment commentator, looks at the market moving events that have shaped the UK equity markets this week (March 12 to March 16, 2018). This week, Barbadian singing sensation Rihanna managed to wipe $1bn off the valuation of tech group Snap, the Chinese secured a major cobalt deal to help it produce electric [...]
Anglo American, Glencore and Antofagasta share prices rise on better than expected data from China March 14, 2018 Mining stocks were boosted today after better than expected economic data from China was announced. Anglo American (up 3.21 per cent), Antofagasta (up 3.11 per cent) and Glencore (up 2.06 per cent) were some of the top risers on the blue-chip index after the price of base metals lifted following strong industrial production data from [...]
Markets wrap: FTSE 100 falls as bond yields jump, sterling falls agains the US dollar (GBPUSD) and bitcoin (BTC) swings February 2, 2018 The FTSE 100 today fell to its worst weekly performance since the summer in spite of the weaker pound – usually a boon to big multinationals with big dollar earnings. London’s blue-chip index lost more than 0.6 per cent to reach 7,443.43 points, its lowest close since 14 December to cap a week in which [...]
The FTSE 100 closed at a record high topping 7,600 December 21, 2017 There was plenty of Christmas cheer in the City today as Britain’s blue-chip index rose to an all-time high. The FTSE 100 rose above 7,600 points for the first time, closing up 1.1 per cent at 7,603.98. “The FTSE 100 has rallied strongly today moving above its previous record peak set back in June to [...]
Rio Tinto caves in to shareholder pressure and scraps appointment of Tory chief Sir Mick Davis November 26, 2017 Mining giant Rio Tinto has scrapped plans to appoint the chief exec of the Conservative party as its new chairman, according to reports. Frontrunner Sir Mick Davis is “no longer in the running” to replace Jan du Plessis after a shareholder revolt. City sources told Sky News over the weekend several institutional investors had drawn [...]
Oil and commodities prices: Mining firms drag the FTSE down as commodity prices drop November 15, 2017 Commodity prices tumbled this morning, dragging miners and oil firms down and causing Britain’s blue-chip index to dip. Metals including copper, nickel, zinc and aluminium came under pressure as concerns mounted over weaker economic data in China. Chinese industrial production fell to 6.2 per cent in October, missing estimates of 6.3 per cent growth and [...]
Queen and US commerce secretary Wilbur Ross among prominent figures featured in Paradise Papers November 5, 2017 A massive trove of leaked legal documents from an offshore law firm has exposed financial arrangements of well known public figures ranging from the Queen to a key member of Donald Trump’s cabinet. The documents, which were obtained by German newspaper Suddeutsche Zeitung and shared with the International Consortium of Investigative Journalists (ICIJ), reportedly contain [...]
Irish government confirms plans to float €12bn-valued Allied Irish Banks in London and Dublin May 30, 2017 The Irish government has confirmed it will be floating state-owned Allied Irish Banks (AIB) in London and Dublin. The initial public offering (IPO) will see the government dispose of a 25 per cent stake in the lender. It is thought the float deal could value the bank at €12bn, which would make it London’s biggest [...]
Sterling rises to four-month high as Prime Minister Theresa May announces General Election for 8 June April 18, 2017 Sterling rebounded to a four-month high after Prime Minister Theresa May announced a snap General Election on 8 June. The pound had sunk prior to May’s pledge, as uncertainty surrounded the scheduled statement. But cable recovered after the PM revealed her plan for an election. Late on Tuesday night the pound was trading above $1.28, [...]
FTSE 100 closes at a new record high as miners surge on Anglo American stake purchase March 16, 2017 The FTSE 100 closed at a new record high of 7,415.95 as Anglo American shares surged and markets breathed a sigh of relief on the Dutch election results. London’s blue chip index reached a high of as much as 7,423.20 points in morning trading as the mining sector surged, with a rally in oil and commodity prices [...]