EU markets watchdog working on ‘Plan B’ to move euro clearing from London October 14, 2020 The European markets watchdog is working on a “Plan B” that would move clearing of euro-denominated derivatives out of London if the bloc decides not to grant the UK long-term access to its markets. The London Stock Exchange’s LCH unit has been given permission by the bloc to continue clearing derivatives for EU customers for [...]
Cornish Lithium fundraise smashes £4m as Poldark spirit lives on October 13, 2020 A new lithium project in the south-west has attracted more than £4m in investment over the last 24 hours, smashing its target of a £1.5m raise. Cornish Lithium opened up to pre-registered investors yesterday and nearly doubled its original target within three hours. The firm, which is based near Redruth in England’s westernmost county, then [...]
SSE sells energy from waste plants for £1bn October 13, 2020 SSE today announced that it would sell its stake in two energy from waste plants for £995m as it continues to raise money to invest in low-carbon projects. Shares in the FTSE 100 company rose 3.9 per cent in the morning’s trading. The divestment, which is expected to complete by the end of the year, [...]
FTSE 100 closes lower amid new restrictions but US stocks rise October 12, 2020 The FTSE 100 closed lower after Prime Minister Boris Johnson introduced a new three-tier Covid alert system but US stocks rose as investors hoped for more stimulus. London’s blue-chip index ended the day 0.3 per cent lower at 6,001 points. The mid-cap FTSE 250 rose 0.5 per cent, however. Read more: Government set to unveil [...]
Petropavlovsk deputy chief out as Hambro era comes to an end October 12, 2020 Petropavlovsk’s deputy chief executive has today left the firm as the Russia-focused gold miner shakes off the last traces of the Peter Hambro era. Alya Samokhvalova, who had been with the company for nearly two decades, was a key member of the mining group’s old guard. She took on the role of temporary chief exec [...]
Get ahead with a NED? How non-executive directors have evolved October 9, 2020 | City Talk ‘You cannot rely on others to seek you out – you must put in a concerted effort to obtaining a directorship. So network, wear out the shoe leather and be prepared to drink a lot of coffee’: so advises a guide for senior professionals seeking to become a non-executive director (NED). Spencer Stuart, the executive search and [...]
Gold miner Petropavlovsk slashes production forecasts October 9, 2020 Petropavlovsk drastically slashed its production forecasts this morning in its first market update since the summer’s bloody boardroom struggle. In a trading update, the Russia-focused gold miner said that production volumes would now come in between 560,000 to 600,000 ounces, down from previous estimates of up to 720,000 ounces. The FTSE 250 firm said the [...]
ETFs are out of focus for most traders October 9, 2020 | City Talk Investors, avert your eyes. This is for the traders amongst us. For years, if you wanted to trade an opinion on a particular industry, sector, or geography, your vehicle of choice was exchange-traded funds, or ETFs. They are transparent, relatively cheap, and allow high-level opinions to be traded in a single product. But, they’re not [...]
FTSE 100 rises despite UK GDP missing expectations October 9, 2020 The FTSE 100 rose at the open despite the UK economy growing less than expected in August, as traders continued to mull the prospect of more US fiscal stimulus. London’s blue-chip index climbed 0.5 per cent to 6,009 points. The FTSE 250, made up of slightly smaller companies, rose 0.3 per cent. Asian markets were [...]
FTSE 100 closes higher and US stocks rise on fresh stimulus hopes October 8, 2020 The FTSE 100 closed higher and Wall Street rose as renewed hopes of a US fiscal stimulus package lifted sentiment despite jobless claims remaining stubbornly high. Two days after calling off negotiations on a comprehensive fiscal aid bill, US President Donald Trump today said that talks with Congress have restarted. Read more: New US jobless [...]
