What will happen to sterling against the US dollar when Prime Minister Theresa May triggers Article 50? We asked the experts March 13, 2017 Now the Budget is out of the way with barely a mention of Brexit, currency traders’ attentions can turn to the next big set-piece event in the political calendar: the moment Prime Minister Theresa May triggers Article 50. May could notify the EU as soon as tomorrow if MPs in the House of Commons vote [...]
UK oil services companies John Wood Group and Amec Foster Wheeler in £5bn merger deal March 13, 2017 Two UK oil services firms have agreed to a £5bn merger. John Wood Group announced this morning it had agreed a takeover deal for FTSE 250-listed Amec Foster Wheeler. Amec’s share price jumped 18 per cent to £5.76 at the time of writing, while John Wood’s was up eight per cent to £8.10. [stockChart code="AMFW" date="2017-03-13 [...]
London IPO market set for £30bn boost, with Logicor, O2, Misys, TI Fluid Systems, BGL Group and Kuwait Energy weighing up flotations March 12, 2017 London is set to benefit from up to £30bn of flotations in the coming months, with Logicor, O2, and Misys among a number of high-profile companies weighing up initial public offerings (IPOs) in the capital. After a rocky end to 2016, when several deals were pulled due to market uncertainty, 2017 saw a subdued start. [...]
The price of gold has fallen below $1,200 ahead of the Fed’s next decision March 10, 2017 Global commodities are taking a battering this week. After oil prices fell below the critical $50 a barrel point yesterday, gold has now dipped lower than $1,200 an ounce. The safe have asset has fallen 0.57 per cent, or $6.90, to $1,196.30 per ounce for the first time in more than a month. Miners of the yellow metal [...]
Brent crude and WTI oil prices edge up after yesterday’s massive losses March 10, 2017 Oil prices have recovered slightly after their worst slump in more than three months. Brent crude, the global benchmark, was trading at $52.37 a barrel, up 0.34 per cent from the previous close. West Texas Intermediate prices traded 0.43 per cent higher, but still below $50, at $49.49 a barrel. Yesterday, crude prices plummeted more than 2.5 per cent [...]
West Texas Intermediate oil prices are below $50 a barrel March 9, 2017 After sharp losses yesterday, oil prices have continued their biggest downward slump of the year as US benchmark West Texas Intermediate (WTI) dropped below $50 a barrel. WTI is trading more than 2.5 per cent lower today at $48.79 a barrel while global benchmark Brent crude fell to a low of $51.60 a barrel. Yesterday, oil prices posted their sharpest [...]
Google parent Alphabet’s venture arm GV backs London fintech startup Currencycloud in £20m funding round March 9, 2017 Top London fintech startup Currencycloud has attracted Google as an investor in a fresh £20m funding round in a stamp of approval for the sector after Brexit. GV, Alphabet's high-profile venture arm formerly known as Google Ventures, which has backed the likes of Uber and Slack in the past, joins existing investors for the series D [...]
The International Energy Agency says it is inevitable that oil prices will see a massive increase March 8, 2017 Three years of drastic cuts to upstream spending because of the meltdown in oil prices could result in a shortage of oil supply in a few years, according to a new report from the International Energy Agency. When oil prices collapsed in 2014, oil producers quickly took an axe to their spending. Global oil and [...]
European company results are beating analysts’ expectations March 8, 2017 European companies are defying analysts' expectations, according to new data. Fourth quarter revenues of nearly 61 per cent of companies in the Stoxx 600 that have reported to date have exceeded analysts' estimates, according to research from Thomson Reuters. In a typical quarter 53 per cent beat analyst revenue estimates. The Stoxx 600 is an index [...]
Dignity share price drops after growth revision March 8, 2017 Dignity, which provides funeral services, crematoria and pre-arranged funeral plans, saw its share price plunge 13 per cent after it revised down its growth rate. It revised down its medium-term target underlying EPS growth rate to eight per cent per annum from the current 10 per cent. However, Dignity beat analysts’ consensus profit forecasts after [...]
