Pound traders brace for tense week as Brexit talks continue December 20, 2020 Sterling traders are gearing themselves up for another nervy week amid fears that a collapse in Brexit talks could spark a sharp sell-off in the pound. Negotiations are ongoing, but noises from both camps suggest they remain stuck on fishing rights and competition policy. British health secretary Matt Hancock this morning told Sky News that [...]
Tesla shares jump to record high ahead of S&P 500 debut December 19, 2020 Tesla shares rose to a record high on Friday as investors geared up for the electric carmaker’s anticipated entrance into the S&P 500 index. The company, headed up by billionaire Elon Musk, will become the most valuable ever admitted to Wall Street’s main market on Monday, accounting for more than 1 per cent of the [...]
FTSE 100 and US stocks slip as market optimism dips December 18, 2020 The FTSE 100 fell along with European and US stocks as optimism faded on trading floors, with doubts creeping in about a US stimulus bill and fresh tensions with China. London’s main stock index was down 0.2 per cent in the afternoon session to 6,539 points. The FTSE 250, which is more domestically focused, fell [...]
Pound falls back from recent high amid Brexit doubts December 18, 2020 The pound has fallen back from a more than two-year high after post-Brexit trade talks between the UK and EU ran into trouble at a crucial juncture. Negotiations are now in a “serious situation,” according to a Downing Street spokesperson last night. They urged the EU to change its position “substantially”. In a separate call [...]
Robinhood pays $65m to settle SEC charges December 17, 2020 Stock trading app Robinhood has agreed to pay $65m in charges to settle claims it had misled customers about payments it received for handling their trades. Between 2015 and late 2018, Robinhood made “misleading statements and omissions in customer communications… about its largest revenue source when describing how it made money,” according to the Securities [...]
Cairn Energy to pay out special $250m dividend after Senegal sale December 17, 2020 Oil firm Cairn Energy today said it would pay shareholders a special dividend worth a combined $250m (£188m) on completion of the sale of its Senegalese assets. The one-off payment will see the exploratory firm pay out 32p per share to investors, it said in a statement. The payout, which is expected on 25 January, [...]
FTSE 100 slips but global markets hit fresh highs on vaccines and stimulus December 17, 2020 The FTSE 100 slipped, weighed down by a rising pound, as global markets hit a new all-time high amid optimism about vaccines and fiscal and monetary stimulus. Despite the rise in global stocks, the FTSE 100 lagged behind as the pound rose 0.8 per cent to $1.360, a 32-month high. A higher pound weighs on [...]
Pound hits 31-month high on Brexit hopes and dollar weakness December 17, 2020 The pound has shot up to its highest level since early 2018, with investors hoping the UK will soon sign a post-Brexit trade deal and the dollar falling sharply. Sterling was last up 0.6 per cent at $1.358, a 31-month high. It was 0.3 per cent higher against the euro at €1.111. The British government [...]
London’s IPO market proves resilient despite choppy conditions December 17, 2020 Despite rocky conditions caused by Covid-19 and Brexit-related uncertainties, the London Stock Exchange (LSE) retained its title as Europe’s most active market this year. LSE proceeds have accounted for almost a third of total European proceeds in 2020. So far there have been 26 London IPOs this year, which is in line with 2019’s 27. [...]
Rio Tinto appoints new chief exec after sacred cave destruction scandal December 17, 2020 Rio Tinto has announced that Jakob Stausholm will become the mining giant’s new chief executive after his predecessor stood down following the destruction of a sacred cave system in Australia. Stausholm, the FTSE 100 firm’s finance chief, will take the top job after Jean-Sebastien Jacques fell on his sword amid intense pressure. The destruction of [...]
