The FTSE 100 has hit its highest point since June 2015 October 3, 2016 The FTSE 100 has hit its highest point since June 2015, reaching 6,974 points in morning trading, up 1.09 per cent at time of writing. A weaker pound has helped to edge the UK's benchmark stocks upwards, moving ever closer to that psychologically significant 7,000 mark. Many of the international blue-chips on the index will benefit [...]
Medical goods maker Convatec announces London listing October 3, 2016 A major international maker of medical products unveiled plans to raise $1.8bn from a London initial public offering (IPO) this morning. Convatec, which specialises in making products for incontinence, wound therapeutics, and critical care announced this morning its intention to float in "late October or early November". The company was sold by the healthcare giant Bristol-Myers Squibb in [...]
Darktrace is now worth $500m and has IPO ambitions October 3, 2016 One of the UK's hottest tech startups is now worth half a billion dollars and has ambitions to go public, City A.M can exclusively reveal. Darktrace, the cyber security startup which boasts backing from top Silicon Valley venture capitalists, Wall Street investors and former Autonomy entrepreneur Mike Lynch, was valued at $450m after a major round [...]
O2 IPO set to call on retail investors October 2, 2016 Mobile network O2 is planning on making millions of shares available to retail investors when it lists later this year. It’s hoped demand from O2’s 25m strong customer base will push up the stock market value of the company to around the £10.25bn that O2 owner Telefonica agreed to sell the business to Three owner [...]
Deutsche Bank hammers European bank stocks and FTSE 100 September 30, 2016 UK markets have fallen in early morning trading with eyes across Europe glued to Deutsche Bank as its shares set fresh record lows amid ongoing speculation about the lender's financial health. Deutsche Bank collapsed by more than nine per cent in Frankfurt this morning after key partners took fright and started to cut back their exposure to [...]
Deutsche Bank US share price plunges after reports suggest funds have lost faith in the lender September 29, 2016 Troubled financial giant Deutsche Bank saw its shares plummet again in New York last night, dragging Wall Street into the red. The German lender's New York-listed stock dived after reports emerged that several key funds have slashed their exposure to the bank. The news sent shivers through banking sector equity markets, with the S&P 500's financial [...]
Oil prices waver as doubts circulate over Opec production cut September 29, 2016 The brief oil price rally stalled this afternoon as doubts mounted over Opec's provisional agreement to cut oil output for the first time since 2008. Ranko Berich, head of market analysis at Monex Europe, said: "It appears that market participants remain sceptical of Opec’s mettle, and if the cuts announced will be sufficient to clear [...]
London startup Lystable lands another Paypal mafia investor September 29, 2016 London startup Lystable, fresh from raising millions from Paypal founder Peter Thiel's venture firm, has raised new cash from another member of the so-called Paypal mafia. Max Levchin's HVF, a data focused lab which is also the umbrella for two of his companies, has jumped on board adding to the $11m series A funding first revealed in [...]
Genel Energy boss – and former BP chief exec – Tony Hayward to step down next year September 29, 2016 Genel Energy chairman Tony Hayward, who previously led BP, is rumoured to be stepping down next year. According to Reuters, Hayward has said in closed discussions in recent weeks that he plans to quit his post in the second half of next year. However, a spokesman for the company said today: "Genel Energy is committed to having [...]
Before the bell: What you need to know before the US market open September 29, 2016 Oil has given up some of its gains after the first Opec deal to curb supply in eight years sent it higher last night and it's not just Deutsche Bank that's in trouble as Commerzbank announces nearly 10,000 jobs are set to go. Here's what you need to know before the US market open at 2:30pm [...]
