FTSE 100 drops below 7,300 points for first time in five months as pound grows September 7, 2018 The FTSE 100 has dropped below 7,300 points for the first time in nearly five months as the pound continued to grow and global uncertainty caused investors to halt activity. The index dropped to a low of 7,227 points this afternoon before gaining slightly towards 7,270. Markets across Europe have all fallen today but the [...]
Lira and rand steady as emerging markets sell-off slows September 7, 2018 Struggling emerging market currencies the Turkish lira and South African rand have started to make a recovery after weeks of market turmoil. The lira was trading at 6.46 against the US dollar this afternoon while the rand rallied to 15.14 against the dollar after a testing few weeks for emerging market currencies. Read more: Turkey makes [...]
Sterling lifts as Barnier says Brexit can lead to ‘unprecedented’ UK-EU partnership September 7, 2018 Sterling climbed 0.89 per cent against the euro today after the EU’s chief negotiator sounded positive notes about the likelihood of the UK securing a Brexit deal. Michel Barnier said there were positive elements of Prime Minister Theresa May’s Chequers plan, which Brexiteers had previously dismissed as “dead in the water”, as a transcript of [...]
Ten events that could move stock markets in the final quarter of 2018 September 7, 2018 | City Talk As many northern hemisphere investors get their feet back under their desks after the summer break, we look at the key events and themes likely to be on the agenda for September and the fourth quarter of 2018. 1) Global trade negotiations The US and China held fresh, and largely fruitless, trade talks in August. [...]
English whisky maker The Lakes Distillery considers IPO on London’s junior market September 7, 2018 English whisky maker The Lakes Distillery is mulling a listing on London's junior market, it revealed this morning. The company has appointed N+1 Singer as its nominated adviser and broker and convened a meeting to gain shareholder approval later this month. Lakes Distillery, which was founded in 2011, would look to raised up to £15m [...]
US tech firms ask Trump for Chinese tariff exemptions in ongoing trade war September 7, 2018 US tech giants have asked President Donald Trump’s administration for an exemption from new tariffs against China. With President Donald Trump set to reveal a fresh tranche of tariffs targeting $200bn (£154.6bn) of Chinese exports, Cisco, Dell, Hewlett Packard Enterprise and Juniper Networks urged the White House to whitelist components behind some of their products. [...]
Sirius shares crash after warning Yorkshire mine costs climb by $600m September 6, 2018 Shares in Sirius Minerals have fallen sharply after the miner said it may need an extra $600m (£464m) to construct its new mine in Yorkshire. The company said the initial $3bn funding for its project to build the Woodsmith polyhalite mine under the North York Moors would also take longer to arrive than previously expected [...]
Bitcoin takes fresh dive in two-day cryptocurrency crash September 6, 2018 The value of bitcoin has continued to slide today after a crash sparked by yesterday's rumours that Goldman Sachs has scrapped plans for a cryptocurrency trading desk. Bitcoin value slumped 15 per cent over two days to $6,405 (£4,950) after the investment bank reportedly cancelled plans to open the new desk. Read more: Goldman Sachs reportedly ditches [...]
Is a rise in this niche borrowing a red-flag indicator for the stock market? September 6, 2018 | City Talk “There can be few fields of human endeavour in which history counts for so little as in the world of finance.” John Kenneth Galbraith On The Value Perspective blog, we have a folder of what we call ‘red-flag market indicators’. It has started to bulge as investor confidence, a decade into an equity bull market, continues [...]
Weir Group share price falls on ‘softening’ industry demand September 6, 2018 FTSE 250 firm Weir Group’s share price sunk up to six per cent on news of “softening” demand for original equipment this morning. Shares fell to £16.76 in early morning trading, as the engineering firm issued an unwelcome update about its North American oil and gas market activity. “There was a considerable softening in demand [...]
