Three themes for 2019 – and some black swans February 8, 2019 | City Talk 2018 was a challenging year for investors with US equity and government bond markets both returning less than cash. Two factors were instrumental in delivering this outcome: disappointment with global growth and less cash flowing through the global economy (tighter liquidity). These factors will continue to influence markets in the year ahead. We have identified [...]
Law firm DWF aims to raise £75m in pre-Brexit March float February 8, 2019 Law firm DWF said it is targeting a March listing on the London Stock Exchange, with plans to raise £75m. That would make its listing the largest undertaken by a law firm so far, outstripping Knights which raised £50m in June. The firm said it expects to announce the final offer price following its marketing [...]
Cuadrilla’s request for earthquake review falls on deaf ears, dealing blow to the sector February 7, 2019 The government has hit back at fracking firms, saying it will not reconsider its policies in what will be seen as a huge blow to the sector. Both Ineos and Cuadrilla, two of the UK’s main frackers, had asked authorities to review the so-called traffic light system and allow them to cause bigger earthquakes. Read more: Jim Ratcliffe: [...]
Cranswick shares crash as it unveils turkey of a trading update February 7, 2019 Shares in FTSE 250-listed food producer Cranswick took a pounding this morning after it revealed its operating margin may decline next year. Cranswick’s shares were trading down 15 per cent at 2,504p around midday, having fallen as low as 2,340p earlier in the day. Read more: Greencore bags The Sandwich Factory from Cranswick in tasty [...]
Bank of England slashes UK growth forecasts amid Brexit uncertainties and global slowdown February 7, 2019 The Bank of England today decided to leave interest rates unchanged as expected, but slashed UK growth forecasts as Brexit uncertainties mount. The bank's monetary policy committee (MPC), which last raised rates to 0.75 per cent in August last year, unanimously voted to hold interest rates for a fourth consecutive meeting. Read more: How will the [...]
Betting stocks stumble after horse racing suspended due to equine flu February 7, 2019 Betting stocks slipped this morning after horse racing across the UK was suspended today because of fears of equine flu. William Hill's share price fell nearly one per cent, GVC's share price was down 1.7 per cent and Paddy Power Betfair was down 1.6 per cent. In a statement the British Horseracing Association (BHA) said [...]
Compass shares near all-time high after strong revenue growth February 7, 2019 Shares in Ftse 100 food services business Compass jumped more than 4 per cent this morning to near an all-time high after a strong trading update. Compass said its organic revenue in the three months to 31 December grew 6.9 per cent which it said was driven by new business wins, good retention rates, a [...]
Equinor falls short of expectations as production set to remain flat in 2019 February 6, 2019 Norwegian state oil producer Equinor slipped up on falling oil prices, as earnings failed to live up to expectations in the fourth quarter. Earnings hit $1.5bn (£1.2bn) after tax in the quarter, up from $1.3bn in the same period last year. Read more: BP more than doubles profit in bumper 2018 Meanwhile, adjusted earnings rose [...]
Cuadrilla boss pleads for fairer treatment after good results at Lancashire fracking site February 6, 2019 The chief executive of Britain’s first fracker has called on the government to review its limits on earthquakes caused by drilling. Francis Egan said his company, and other shale gas explorers, were being treated unfairly when compared to other industries, which are allowed to cause much more violent tremors. Read more: Jim Ratcliffe: Government's shale [...]
Opec exports to US fall to a five-year low as cartel cuts its output February 6, 2019 US oil imports from Opec countries have dropped to five-year lows as the oil producing cartel cuts output, while US domestic production grows. Opec’s sales to the world’s biggest economy fell 22 per cent month-on-month and 37 per cent year on year, to 1.4m barrels per day, data from energy intelligence company Kpler shows. Read [...]
