Aiming high: Junior market hits £80bn milestone September 6, 2016 The Alternative Investment Market (Aim) soared over the summer, taking its combined market cap to £80bn at the end of August. The UK's junior market, which is designed to attract smaller companies to go public, climbed by 3.4 per cent in August. Combined with a sprinkling of new listings, the rise helped the index pass [...]
Pound storms to two-month high against dollar after shock fall in key US indicator September 6, 2016 The pound has surged to a new two-month high against the dollar after a crucial indicator of activity in the US economy crashed, raising yet more question marks over the timing of the next interest rate rise. The closely-watched Institute for Supply Management (ISM) non-manufacturing purchasing managers' index (PMI) dropped from 55.5 in July to 51.4 [...]
Oil majors’ profits to pass $1 trillion mark this year September 6, 2016 The world's six largest oil companies are on course to pass the $1 trillion (£479bn) profit market this year, despite the recent commodities downturn which has riled the industry. Broker Canaccord Genuity's report released today said that BP, Chevron, Exxon, Royal Dutch Shell, Statoil and Total are expected to clear this mark by 31 December 2016, based [...]
All that glitters: Anglo American’s diamond business De Beers reports higher sales on pre-Christmas demand September 6, 2016 Anglo American said today sales at De Beers, its diamond unit, rose as manufacturers snapped up the precious gems ahead of the holiday season. The world's largest diamond producer by value reported rough diamond sales generated $630m (£472.65m) in its seventh offering this year, up from $528m in the previous round. Read more: How this digital-focused jewellery retailer is shaking [...]
Delaying the inevitable: How long can central banks extend the credit cycle? September 5, 2016 Calling the end of the current credit cycle is becoming an increasingly popular sport among seasoned market-watchers. While there is division over exactly when it will conclude, the consensus is it will be soon. Last week, Deutsche Bank analysts came to the conclusion that they were “not quite ready to call the end of the [...]
Experts warn UK North Sea corporation tax is still too high September 5, 2016 One of the world's leading petroleum economists has warned that the rate of corporation tax for North Sea oil and gas companies is still too high and "far above" that of its competitors. North Sea oil and gas companies pay a special rate of corporation tax at 30 per cent. In the March budget, tumbling oil [...]
O2 could IPO as soon as this year September 5, 2016 Mobile network O2 could IPO as soon as this year, its owner Telefonica has revealed, after its sale to Hutchison and merger with Three was blocked by the EU. The Spanish firm's chairman Maria Alvarez-Pallete said: “We have been working to list it, so if today or in the next few weeks we decided to do so, we [...]
FTSE 100 ends the week tantalisingly close to 7,000, pushed up by pharma – as housebuilders regain losses September 2, 2016 The FTSE 100 ended the day at 6,894.6 points – 2.2 per cent higher, and within spitting distance of that 7,000 mark. The index was pushed up by pharmaceutical and mining stocks, with Hikma Pharmaceuticals leading the pack, jumping 5.2 per cent to 2,185p. That was followed by Unilever, which rose 3.8 per cent to 3,663p – [...]
FTSE-listed housebuilder share prices have tumbled after McCarthy & Stone’s gloomy Brexit outlook September 2, 2016 Just when we thought things were beginning to look up, housebuilder shares uniformly drooped this morning, after retirement home builder McCarthy & Stone presented a gloomy outlook about the impact of Brexit. Persimmon was the biggest faller among the FTSE 100-listed builders, dropping 2.9 per cent to 1,815p in mid-morning trading. That was followed by Berkeley [...]
Oil prices rebound slightly – but still set for biggest weekly fall since January September 2, 2016 Oil prices rebounded slightly this morning – but it wasn't enough to prevent them from heading for their biggest weekly drop since January. Brent crude futures ended yesterday’s session at $45.45 per barrel, but was up at $45.76 in early trading in London. However, this was down more than eight per cent since the beginning of this week, when [...]
