Takeover rumours fly but markets fail to take off October 21, 2016 Markets are yawning their way to the weekend with a quiet finish to a tumultuous week. Stocks has shaved a few points, sterling is up against some, down against some and very little of note is happening on the financial markets despite a big day of political developments and some chunky corporate news. Two takeover [...]
Deutsche Bank’s share price just rose above its pre-panic level October 21, 2016 What a difference a month (and a bit) makes. This morning shares in Deutsche Bank finally rose back to the level they were at before the lender was threatened with a massive $14bn (£11.4bn) fine by the US Department of Justice (DoJ) and everyone lost their heads. Good news for chief executive John Cryan. Shares in the lender hit [...]
Markets have the Friday feeling … and that means nothing much is changing October 21, 2016 Theresa May is half-way through her first official meeting of EU leaders over in Brussels. Across the pond, the ferocious US Presidential Election is approaching with alarming speed, and in Europe, Mario Draghi is intent on keeping the quantitative easing guessing game running for as long as he can. Plenty then, you would think, for [...]
Hong Kong stock exchange trading shut down as Typhoon Haima lashes city October 21, 2016 The Hong Kong stock exchange was forced to cancel trading on Friday as Typhoon Haima lashed the city. The closure came after the Hong Kong Observatory issued a tropical cyclone warning signal number eight. Several flights at Hong Kong's international airport were cancelled or delayed also. Read more: Is property a safe bet in China's former [...]
Before the bell: What you need to know before the US market open October 20, 2016 Markets are further backing a Clinton victory in the US presidential election next month after last night's final debate, while the European Central Bank is expected to keep policy on hold when it meets this afternoon. Here's what you need to know before the US market open at 2:30pm London time. US futures are pointing higher [...]
IPOing waste firm Biffa has arrived in London – and these pictures prove it October 20, 2016 Waste management company Biffa today floated on the London Stock Exchange. The initial public offering (IPO) was pushed through at a reduced price after the company failed to find enough investor interested. Read more: Biffa set to float next week after cutting price to save IPO from scrapheap The company's base price, which has remained [...]
Glencore flogs Australian coal haulage business October 20, 2016 Glencore has agreed to sell its Glencore Rail (GRail) coal haulage business to Genesee & Wyoming Australia (GWA), for AU$1.14bn (£712m). The FTSE-listed miner said the sale was "another significant part of Glencore's debt reduction programme". "We established GRail in 2010 and have steadily grown it to become the third largest coal haulage business in the country," said Peter Freyberg, head [...]
Man Group announces $100m share buyback October 20, 2016 Man Group has this morning revealed details of a proposed $100m (£81.5m) share buyback. The hedge fund said it has entered an irrevocable, non-discretionary arrangement with Merrill Lynch International to repurchase ordinary shares in the company, up to a maximum consideration of $100m during the period from today up to and including 19 October 2017. "The purpose [...]
Before the bell: What you need to know before the US market open October 19, 2016 The global economic picture is looking rosier as the UK labour market holds up in the face of the shock vote to quit the European Union and the Chinese economy is showing signs of stabilising. Here's what you need to know before the US market open at 2:30pm London time. US futures are mixed ahead of the [...]
Used car supermarket’s share price skids down 20 per cent after Brexit warning October 19, 2016 Used car supermarket Motorpoint’s shares skidded 20 per cent this morning as the company warned it was being hit by Brexit uncertainty. The company, which floated on the London Stock Exchange in May, reported 11 per cent revenue growth in the six months to September in a trading update today. But, at the time of writing, [...]
