How worried should we be about the slowdown in German manufacturing? November 19, 2018 | City Talk German industrial production contracted by 1.2% in Q3 and is behind the general slowdown being seen in eurozone manufacturing. What is causing the decline and how concerned should investors be? Kaputte Autos Taking a closer look at the breakdown of Germany’s production data reveals that most of the economy’s manufacturing sub-sectors are performing well. The [...]
Bitcoin falls below $5,000 for first time in 13 months as slump continues November 19, 2018 The value of bitcoin has dropped below $5,000 for the first time in 13 months as the bitcoin cash split continues to weighs heavily on cryptocurrencies. The world's largest cryptocurrency by volume has dropped 13 per cent today to lows of $4,827 , while ripple and ethereum also fell to yearly lows of $0.46 and [...]
Broker and online trading platform AJ Bell to launch £500m float in London next month November 19, 2018 Online investment platform and broker AJ Bell today confirmed plans to float in London next month in a listing that could value the company at up to £500m. The float gives major shareholders Invesco Perpetual and chief executive Andy Bell an opportunity to sell down their stakes in the business while widening AJ Bell’s shareholder [...]
If Nigeria wants to take part in global markets, it must shape up and honour its obligations November 19, 2018 When the Nigerian finance minister visited London last week, she and her officials came to advertise Nigeria as a country that is open for business. The minister, Zainab Ahmed, came to promote Nigeria’s $2.8bn Eurobond sale, which follows on from the Nigerian government’s oversubscribed $1bn Eurobonds sale in February 2017. I am a supporter of [...]
City veterans launch new corporate finance boutique November 19, 2018 A former board member of investment bank Zeus Capital is today launching a corporate finance boutique alongside a senior executive from Nex Exchange. The new firm, Guild Financial Advisory, will advise companies on initial public offerings (IPOs), fund raising, deals and corporate governance. Its chief executive Ross Andrews previously spent eight years with Zeus where he [...]
Global dividends reach record levels but UK held back by weak pound November 19, 2018 Global dividends rose to $354bn (£276bn) as corporate profits led to record third quarter payouts but the UK was stunted by a weaker pound. The amount paid to the shareholders of the world's 1,200 largest companies rose 5.1 per cent in the third quarter, according to a report from asset manager Janus Henderson. Underlying growth [...]
George Soros takes £20m short position on Aston Martin after carmaker’s lukewarm flotation November 18, 2018 George Soros, the billionaire investor and philanthropist, has taken a £20m short position in Aston Martin, whose share price has dropped by a quarter since its flop float last month. Disclosures to the Financial Conduct Authority (FCA) show both Soros and French fund Carmignac Gestion have bet against the carmaker, which has seen £1bn wiped [...]
FTSE 100 roundup: Today’s winners and losers November 16, 2018 The FTSE 100 lost ground today, down 5.31 points at 7,032.70 just before markets closed after a turbulent start to the day when it lost as much as 0.8 per cent. All week markets have been reacting to the political fallout from Brexit as the FTSE 100 wiped out gains made late last week. Top 5 FTSE [...]
Sterling and stocks steady after plunging in the wake of Theresa May’s Brexit deal November 16, 2018 Sterling held steady during Friday's early trading after a day of turmoil on Thursday, which saw several ministerial resignations in the wake of Theresa May's draft Brexit deal. The pound rose by 0.3 per cent to above the $1.28 mark, having plummeted by its biggest margin for two years, yesterday. The FTSE 100 and FTSE 250 [...]
An Italian Bank run could crack the euro November 16, 2018 | City Talk The Italian government is defying the European Commission’s request that it revise its draft budget for 2019 to reduce the deficit. Bond yield spreads are widening and Italian banks are under pressure. Should a bank run ensue, could the euro fall apart? After German reunification, interest rates rose to over 9 per cent in the early [...]
