Londoners invited to invest in Libya January 26, 2017 Libyan businessmen and governmental officials are in London today seeking investment in the country’s key industries. The Libya Reconstruction and Investment Forum is being held at Lancaster House, a government-owned mansion in St James’s operated by the Foreign Office. Oil, healthcare and infrastructure will be among the sectors where Libyans will be looking for foreign [...]
Europe’s Stoxx 600 hits highest point since December 2015 January 26, 2017 Stocks across Europe have risen as a cluster of mergers and a share in the Trump trade boosted investor sentiment. The Euro Stoxx 600, which tracks large companies from across Europe including the UK, hit its highest point in almost 13 months, after rising at its fastest rate since the day after Trump’s election on [...]
Novartis launches $5bn share buyback and mulls spin-off of eyecare business Alcon January 25, 2017 Novartis may spin off its struggling Alcon eye care business as it looks at ways to boost growth The Swiss drugmaker also plans to buy back up to $5bn (£4bn) of shares over the next year in a bid to return to growth by 2018. Alcon has slumped to a $120m loss as fourth-quarter sales dipped. Novartis could consider floating, [...]
The Dow Jones Industrial Average breaks 20,000 for the first time as the Trump trade continues January 25, 2017 The Dow Jones Industrial Average (DJIA) has broken through the 20,000-point mark for the first time ever, crossing a symbolic line only a year after falling below 16,000. The index has surged over 2016, with the election of Donald Trump prompting a massive increase in US share prices in the last two months of 2017. [...]
This Aim-listed x-ray firm is set to raise £21m January 25, 2017 Aim-listed radiation detection tech firm Kromek has raised £21m through a conditional firm placing and open offer. The firm placing of 100m shares at 20p apiece was over-subscribed with new and existing institutional investors in the company taking part. At the time of writing, Kromek's share price rose by nearly seven per cent. Kromek provides digital colour x-ray [...]
I can see clearly now: Sterling jumps to six-week high against the dollar January 25, 2017 The pound jumped to within spitting distance of $1.26 this morning, its highest in six weeks, as investors heralded a new age of certainty following yesterday's Article 50 decision. The pound touched $1.2596 in morning trading, 0.6 per cent higher, while it rose 0.4 per cent against the euro to €1.1717. Although sterling dipped yesterday [...]
Pay-as-you-go insurtech startup Cuvva has raised cash from a top VC January 25, 2017 A fintech startup offering motorists flexible pay-as-you-go insurance by the hour as landed new investment from one of the UK's top venture capitalists. London-based Cuvva has landed £1.5m seed capital from Robin Klein's LocalGlobal, a backer of Zoopla and Citmapper, to target urban drivers who use their cars infrequently and tapping into the same habits which [...]
Supreme Court ruling pushes sterling down despite forcing Parliamentary vote January 24, 2017 The Supreme Court’s decision to force the government to allow a vote on triggering Article 50 has provided scant consolation to the pound, which has extended losses in volatile trading. Sterling fell to lows of $1.2438 against the US dollar at the time of publication in response to the ruling. It had risen sharply ahead [...]
Oil prices have slipped as increased US production overshadows Opec cuts January 24, 2017 Oil prices have dropped after initially rising this morning as US production growth overshadows Opec's promised production cuts. This morning, global benchmark Brent crude futures were up more than one per cent to $55.82 per barrel, while West Texas Intermediate (WTI) increased to $53.29 before both fell slightly towards the afternoon. Currently, Brent crude is trading at $55.37 per barrel [...]
Will ‘value investors’ win in 2017? January 24, 2017 | City Talk Value investing, the discipline made famous by the legendary investor Benjamin Graham in the 1930s and 1940s, fell out of favour after the global financial crisis. Investors have instead preferred to pay a premium for more dependable stocks rather than back those unloved by the market. That trend may be turning around. What is value [...]
