This stock market index rose 289% but could still be good value March 17, 2017 | City Talk Over time, smaller company shares have outperformed larger ones, research shows. The FTSE Small Cap index has risen 289% since its nadir in February 2009, compared with a 158% rise for the FTSE 100. Because of their size, “small caps” have the potential to grow more quickly. The quicker a company can grow its earnings in a [...]
Tullow Oil share price dives as it announces £607m rights issue March 17, 2017 Shares in Tullow Oil have dropped 15 per cent this morning, after the company announced a £607m rights issue as it continues to grapple with lower oil prices. Brent crude is hovering around $51.74 today. Tullow has been trying to tackle the problem of cheaper oil for years now – in 2015, the group slashed its capital [...]
FTSE 100 closes at a new record high as miners surge on Anglo American stake purchase March 16, 2017 The FTSE 100 closed at a new record high of 7,415.95 as Anglo American shares surged and markets breathed a sigh of relief on the Dutch election results. London’s blue chip index reached a high of as much as 7,423.20 points in morning trading as the mining sector surged, with a rally in oil and commodity prices [...]
Anglo American share price rises as Indian tycoon Anil Agarwal invests £2bn in the miner March 16, 2017 Shares in Anglo American have shot up this morning, after Indian tycoon Anil Agarwal made a bid to take a 12 per cent stake in the miner. The stock was up 9.2 per cent at pixel time. The mining boss announced last night that he plans to invest up to £2bn in Anglo by issuing a [...]
Polymetal on a spending spree as it ramps up capital expenditure March 15, 2017 FTSE 250 metal mining company Polymetal has boosted its revenues by 10 per cent but it has also ramped up spending at the same time, the company has said in its preliminary results for the year ended 31 December 2016 The figures Polymetal said capital expenditure has risen by 32 per cent to $271m (£220.54m) [...]
Profits soar at landscape gardening specialist Marshalls March 15, 2017 Landscaping group Marshalls’ share price jumped up by as much as six per cent in early trading as the builders’ merchants and garden centre supplier reported bumper profits in its 2016 full-year results. The figures Profits before tax rose by 31 per cent to £46m from £35.3m last year on flat revenues of £396.9m, up [...]
Intercontinental Exchange could push back London clearing launch as it seeks to assert gold dominance March 15, 2017 Intercontinental Exchange (ICE) could push back the launch of clearing for London’s gold price auction as it seeks to get all participants on board. The New York Stock Exchange owner was set to go live with its clearing plans at the end of this month. But City PM understands the launch could now be put [...]
Financial data giant MSCI denies receiving £9bn takeover offer from S&P Global March 15, 2017 Market index compiler MSCI has insisted it has not received a takeover offer from financial data giant S&P Global. The company’s response came after media reports suggested the firm behind the Dow Jones Industrial Average index and the S&P 500 index is plotting a $11bn (£9bn) bid for MSCI. Read more: Berkeley boss gives up [...]
It looks like Brewdog’s about to land a big new investor, make a major shake-up of its shareholdings and eventually IPO March 15, 2017 Popular "punk" craft beer maker Brewdog has said it's about to land a new investor and also revealed it's considering a time frame for an IPO. In a letter to its shareholders, many of whom backed the brewer through crowdfunding, it said it has been in talks with a number of potential investors and is now [...]
Why the FTSE 100 rises when sterling falls – explained in two charts March 15, 2017 | City Talk The FTSE 100's strong recovery after the Brexit verdict in last June's referendum caught some investors off guard. After an initial wobble, the index surged. Three months later, it was 10.4% higher. But why? There may have been some other factors at play in those months, but one of the strongest drivers in the fortunes [...]
