While the US and China sneeze, London too risks catching a cold May 15, 2019 The trade dispute between China and the US has escalated. After Donald Trump tweeted that he was imposing higher tariffs on $200bn of Chinese imports to the US, China predictably retaliated, announcing on Monday that it would impose a further $60bn of tariffs on US goods coming into the country. Much attention has been paid [...]
B&Q owner Kingfisher sales tick upwards ahead of CEO’s departure May 15, 2019 B&Q owner Kingfisher saw sales edge higher in its latest quarter thanks to warmer weather and a weaker corresponding period last year. Read more: B&Q owner Kingfisher plans foreign market exit as French sales drag UK and Ireland sales rose 5.4 per cent in the three months to the end of April compared to the same [...]
Landsec: A tale of two portfolios May 14, 2019 Investors trying to work out what the future holds for property giant LandSec, which delivered a dismal set of results to the City this morning, could do worse than take a stroll through its Square Mile development. The complex, aptly named One New Change, is a fitting example of how the FTSE 100 real estate [...]
DCC shares up on double-digit growth and £90m spending spree May 14, 2019 Irish multinational DCC today announced another £90m in new acquisitions as it revealed that strong growth in its natural gas segment helped push up profits. The FTSE 100 company sold 10.8 per cent more liquefied petroleum gas (LPG) to 2.1m tonnes in the financial year ending March, helping to push revenue up by 30.5 per [...]
Four ways passive investing has altered the markets May 14, 2019 Ever since the first exchange-traded fund (ETF) listed in Europe 19 years ago, passive investing has proved hugely popular. ETFs are traded like stocks, and simply track the big indices like the FTSE 100 or the Dow Jones, as opposed to having a fund manager cherry-pick individual companies for you. And with the lowest annual [...]
Rise of the nerds: Why CEOs are more tech-focused than ever May 14, 2019 Chief executives of the UK’s top firms have more technological experience than ever before, helping them better deal with a digitally-focused world, a new study has shown. Read more: Joules lures in top Asda director as new chief executive The annual Robert Half CEO tracker, released today, has shown that the proportion of FTSE 100 [...]
US markets follow Europe downwards as China announces retaliation tariffs May 13, 2019 US markets have followed their European counterparts sharply downwards after the bell, following China's announcement of retaliatory tariffs on $60bn worth of US goods in the latest development in the two countries' trade war. Read more: Global markets in tailspin after Trump threatens huge China tariff rise The US’s S&P 500 opened down 1.8 per cent [...]
BP: Discipline and efficiency underpin ‘buy’ case May 13, 2019 | City Talk Profits are down in the first quarter, but BP remains on track, writes our head of markets. BP (LSE:BP.) may not have repeated its immense performance from the full-year numbers in February, but nonetheless remains on track to deliver on its strategic promises. The company's prodigious cash flow continues to enable its share buyback programme, [...]
Why bombed-out Sainsbury’s leads the FTSE 100 May 10, 2019 | City Talk Hammered since the Asda merger was blocked, our head of markets explains the surge to a three-week high. Rather than fight the decision of the Competition and Markets Authority (CMA), Sainsbury (LSE:SBRY) and Asda decided to call off the wedding. This leaves a huge strategic question mark over where Sainsbury's goes next. Not surprisingly, the [...]
Brewin Dolphin signs deal for Investec’s Irish business as assets dip May 10, 2019 Asset manager Brewin Dolphin today said it has signed a deal to buy Investec’s wealth management business in Ireland as it posted a dip in total funds for the half-year. Brewin Dolphin said it will pay roughly €44m (£38m) for the Irish business, adding the deal would make it one of the top three wealth [...]