M&A excitement and falling pound put rocket under FTSE 100 July 29, 2019 Britain’s FTSE 100 benchmark stock index has stormed higher due to investor excitement over mergers and acquisitions (M&A) and a sinking pound. Read more: London Stock Exchange share price hits record high on Refinitiv takeover talks The index climbed two per cent by 2pm UK time to stand at around 7,697, the highest it has [...]
Why we’re at a tipping point for clean energy July 29, 2019 | City Talk Alternative energy sources to fossil fuels have been around for many years. Wind, solar and tidal power have all been harnessed to a greater or lesser extent by numerous countries around the world. But we think that the transition to renewable energy is set to pick up speed rapidly and there are three reasons why. [...]
DEBATE: Was the Aston Martin IPO a folly? July 26, 2019 Given the company’s troubles, was the Aston Martin IPO a folly? Neil Wilson, chief market analyst for Markets.com, says YES. Lowering sales guidance less than a year after listing is a crime that many investors would feel warrants some devious Bond-villain style punishment. Aston Martin has gone bust seven times. Investors should be wary of [...]
Anglo American kicks off $1bn share buyback as earnings jump July 25, 2019 Anglo American put a smile on the face of investors this morning after posting a better-than-expected rise in earnings and launching a $1bn ($800m) buyback. The mining giant raised its dividend payout by almost 30 per cent after underlying earnings before interest, tax, depreciation and amortisation (Ebitda) rose 19 per cent to $5.45bn in the [...]
After Facebook, what to expect from Amazon and Alphabet earnings? July 25, 2019 | City Talk Facebook delivered a beat to earnings forecasts, but with the US Department of Justice launching an investigation can Big Tech continue to deliver for shareholders? Results from Facebook were even better than expected, showing that it continues to drive user growth and ad revenue growth. Facebook is still loved by advertisers. Remember it’s not just Facebook [...]
Space, the investment frontier: The companies that are reaching for the stars July 24, 2019 When Neil Armstrong was the first man to walk on the moon 50 years ago, space was the exclusive domain of two superpowers. Now it has become perhaps the ultimate competitive arena for two tech giants — not to mention a host of other private enterprises that see untold promise and profits in reaching for [...]
Miners drag down FTSE 100 after iron ore prices dip July 24, 2019 The FTSE 100 fell 63 points today as mining stocks tumbled on news that Brazilian giant Vale was resuming operations at one of its major facilities. Shares in Rio Tinto fell 4.5 per cent to 4,610p, shares in BHP fell 4.1 per cent to 1,958p and shares in Anglo American slipped 3.4 per cent to [...]
Aston Martin share price crashes 21 per cent as it slashes sales target July 24, 2019 Aston Martin’s share price crashed 21 per cent this morning as it warned that macroeconomic challenges have “worsened” for the luxury car manufacturer. Shares slipped to 820p from an open of 841p as Aston Martin slashed its sales expectations in the face of market “softness” for the rest of 2019. Read more: Aston Martin’s biggest [...]
Tradeweb’s CEO on tech, China, and modernising bond markets July 24, 2019 While researching Lee Olesky, the co-founder and chief executive of the fixed-income market platform Tradeweb, I came across an article comparing him to Amazon’s founder Jeff Bezos. Both started their companies in the nineties. Both set out to use the internet and ecommerce to disrupt their respective industries at a time when the idea of [...]
Regulators delay introduction of new tougher rules on derivatives after industry pleas July 23, 2019 Global regulators have delayed the introduction of new rules that would require smaller fund managers to set aside cash to cover their derivatives transactions. The Basel Committee on Banking Supervision (BCBS) and the International Organisation of Securities Commissions (IOSCO) said today the new rules would be implemented from September 2021, a delay of a year. [...]
