Oil surplus set to crash into deficit, energy agency warns as US sanctions take countries offline May 15, 2019 Opec suppliers could have to step in to meet a “highly likely” deficit in global oil markets, the International Energy Agency (IEA) has warned months after the oil producing cartel slashed production. The deficit could reach around 700,000 barrels of oil per day, the IEA said, the same size as the surplus in the first [...]
Where next for Bitcoin? May 15, 2019 | City Talk Bitcoin is on the up again. The biggest crypto asset has rallied above $8,000, reaching its highest since last summer after more than doubling this year. It seems momentum is building for bulls and you cannot ignore that once Bitcoin builds up a head of steam, the mania can come back, and the momentum traders [...]
Travelex owner Finablr launches London IPO at reduced price in tough market conditions May 15, 2019 United Arab Emirates-based payments company Finablr floated in London today at a reduced price to reflect difficult market conditions. The Travelex-owner said it would raise £306m to give the business a market capitalisation of approximately £1.225bn. Read more: Travelex-owner Finablr to raise $200m in London listing The offer price has been set at 175p, well [...]
Can a 60/40 split portfolio deliver better outcomes? May 15, 2019 | City Talk Recent decades have been a tumultuous time for investors. In the last 20 years alone we have experienced two of the biggest stock market crashes in history – the bursting of the dotcom bubble at the turn of the millennium and the financial crisis in 2008. Smoothing returns and avoiding losses has been a crucial [...]
Walmart mulls Asda IPO after Sainsbury’s merger blocked May 15, 2019 Retail giant Walmart has said it is considering a stock market listing for Asda, just weeks after the supermarket’s failed attempt to merge with rival Sainsbury’s. Walmart International boss Judith McKenna said the US chain is considering an initial public offering (IPO) for its UK subsidiary, but said it was “not rushing into anything”. Read [...]
BHP bets on batteries as it decides to keep its Australian nickel mine May 14, 2019 London-listed miner BHP has said it wants to keep its Australian nickel mine as the industry starts betting on a battery-powered future. Chief executive Andrew Mackenzie today said the company would hold on to the Nickel West mine which it has tried to sell several times. Read more: BHP Billiton faces $5bn claim for failure [...]
Bitcoin hits 10-month high as price surges above $8,000 May 14, 2019 Bitcoin is trading above $8,000 (£6,195) this afternoon after the cryptocurrency’s price surged by more than $1,000 in a day. The cryptocurrency broke the $8,000 barrier this morning, climbing as high as $8,327, according to data from Bitstamp. Read more: Bitcoin soars above $7,000 to hit nine-month high Today’s gains, which have seen Bitcoin hit a 10-month [...]
Oil prices jump as Houthis launch drone attack on Saudi oil pumps May 14, 2019 Oil prices shot up today after Houthi fighters attacked two pumping stations near Riyadh with drones, the second sabotage against Saudi oil production in days. Explosive-laden drones hit the sites earlier today, Saudi energy minister Khalid al-Falih said this morning. Read more: Attack on Saudi tankers pushes up oil prices Despite assurances that the attacks [...]
Positive markets help Standard Life Aberdeen boost assets in first quarter May 14, 2019 Assets under management at Standard Life Aberdeen increased by three per cent in the first quarter, helped by positive market movements. The company said assets under management hit £568.9bn, up from £551.5bn at the same point last year. Read more: Standard Life Aberdeen wins £100bn asset dispute with Lloyds It said positive market movements were [...]
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 [...]
