Oil prices fall on fears of production boost amid surge in Covid-19 cases October 26, 2020 Global oil prices dropped sharply this morning amid fears of a ramp in production even as governments implement more stringent restrictions to cope with a surge in coronavirus cases. Worldwide standard Brent crude shed 2.4 per cent to fall to $40.76, while American benchmark West Texas Intermediate dropped 2.6 per cent to stand at $38.78. [...]
Congratulations Brussels for capturing EU states’ financial sovereignty October 26, 2020 The European Union achieved spectacular market success this month when it launched its new “Support to mitigate Unemployment Risks in an Emergency” bond programme (SURE). The €100bn programme will be used by the EU to support member nations addressing pandemic job security and social welfare weakness over the next year. The first €17bn bond issue [...]
FTSE 100 jumps amid strong earnings but US stocks mixed October 23, 2020 The FTSE 100 jumped on the final day of a tough week for markets, as investors found some optimism in company earnings, but US stocks were more mixed. The UK’s main stock index was boosted by upbeat results from lender Barclays (BARC). New stimulus measures from chancellor Rishi Sunak yesterday also helped stocks. Read more: [...]
The US Election countdown – don’t just brace for volatility. Trade it October 23, 2020 | City Talk If 2020 hasn’t been turbulent enough already, the US election is well and truly underway. As the future of the country’s leadership remains uncertain, financial markets are braced for further volatility. The “strength of the U.S. dollar” is a popular topic within the campaign messaging of both candidates this year. Ultimately, that strength is based [...]
Wall Street closes higher on hopes that stimulus deal is close October 22, 2020 Wall Street closed higher tonight after a day of topsy-turvy trading as investors bet on the prospect of a new stimulus deal being agreed between Congress and the White House. The Dow Jones rose 0.5 per cent to close at 28,364 points, the S&P 500 shut up the same margin at 3,453 points and the [...]
Wall Street rises as investors cling to hope of stimulus package October 22, 2020 US stocks edged higher after the open today as Wall Street held out for a deal on fiscal stimulus, while the FTSE 100 dipped amid concerns over increasing coronavirus cases in Europe. The benchmark S&P 500 rose as much as 0.26 per cent in the first half an hour of trading, while the Dow gained [...]
Russian authorities launch investigation into new Petropavlovsk boss October 22, 2020 The chief executive of embattled gold miner Petropavlovsk [LON:POG] is being investigated by Russian authorities after forcing his way into the FTSE 250 company’s offices in Moscow. On 26-27 August, Maksim Meshcheryakov was prevented from entering the firm’s office in a stand-off with staff. CCTV footage which later circulated on Russian social media showed Meshcheryakov, [...]
JP Morgan strategists: Markets desperate for more stimulus at US election October 22, 2020 The markets want a decisive outcome from the 3 November US presidential election that will lead to big near-term fiscal stimulus, which the country’s economy “really needs”, strategists at JP Morgan Asset Management have said. Karen Ward, the London-based firm’s chief market strategist for Europe, said investors were now seeing the election in a “completely [...]
AJ Bell assets reach £56.5bn as new customers flock to platform October 22, 2020 AJ Bell’s (AJB) total assets under management rose to over £56bn as customers flocked to its broer platform amid the continued market volatility. In a trading update, the investment platform said total AUM had increased eight per cent to £56.6bn, up from £54.3bn at the end of June and £52.3bn in September 2019. The rise [...]
FTSE 100 drops as pound surges and Covid worries grow October 21, 2020 The FTSE 100 dropped as investors worried over new coronavirus restrictions and the pound soared amid hopes of a Brexit deal, hurting firms’ overseas earnings. London’s blue-chip index opened flat but had tumbled 1.3 per cent by late morning to 5,814 points. The FTSE 250 was down 0.3 per cent. Read more: UK inflation climbs [...]
