To IPO or not to IPO? Four things tech companies must consider June 2, 2016 Technology continues to be an agent of change and the explosion in size and complexity of technology-driven businesses has been reflected in their global growth and reach. With alternative sources of private funding increasingly available, and potentially higher valuations being achieved privately, the motivation to IPO may well be reduced. However, there will likely come a point in [...]
Hikma Pharmaceuticals replaces Inmarsat in FTSE 100 index June 1, 2016 Hikma Pharmaceuticals is set to enter the FTSE 100 index as satellite firm Inmarsat drops to the FTSE 250. The changes will take effect on June 20, London Stock Exchange said today. Hikma Pharmaceuticals's promotion to Britain's blue chip index comes after its shares surged 45 per cent since mid-March. The company expects its full year group revenue to [...]
Sugar price rally continues as Thailand warns production could take hit as a result of El Niño weather phenomenon June 1, 2016 The recent raw sugar price rally continued today as the sweet commodity traded at around 17.30 cents per per pound, according to Nasdaq data. Prices have reached a two-year high over the past week in a positive swing that contrasts with many other commodities, particularly metals such as copper and iron ore, whose rally at [...]
Commodities hedge funds shrug off money manager woes amid metals boom and oil price uptick June 1, 2016 Commodities hedge funds shrugged off the problems plaguing other money managers at the start of this year, as investors piled into the long-suffering sector. Following more than three years of negative sentiment, investors returned to the commodities sector in the middle of last year and have since allocated $5.4bn (£3.7bn), according to data tracker eVestment. It comes during a torrid [...]
At the close: Stocks and sterling on the slide June 1, 2016 The FTSE 100 picked up where yesterday left off, shedding yet more points as a package of opinion polls, weak economic data, and a miserable start to meteorological summer dented traders' spirits. The London index dropped 0.6 per cent to fall below the 6,200 mark, after it missed out on stumbling to four consecutive months of gains [...]
There are 2m barrels of oil stuck in the Caribbean sea because Venezuela can’t afford to pay BP June 1, 2016 Four oil tankers carrying more than 2m barrels of oil are stuck in the Caribbean sea because of cash-strapped Venezuela. The cargo of US crude oil cannot discharge at a terminal there until it’s been paid for by Venezuela's state-owned oil company, PDVSA. The firm initially offered to pay for the imports with Venezuelan oil, but negotiations [...]
Oil slides away from $50 ahead of Opec meeting June 1, 2016 Oil prices fell away from $50 this morning, as production from major Middle Eastern exporters was expected to remain high or even increase. Middle Eastern oil producers have been ramping up their supplies to Asia in an aggressive tussle over market share. It comes ahead of a meeting of the Organisation of Petroleum Exporting Countries (Opec) tomorrow. "Many [...]
FTSE quarterly review: Inmarsat’s share price tumbles ahead of expected relegation May 31, 2016 Inmarsat’s share price fell nearly four per cent today ahead of its expected demotion from the FTSE 100. The satellite services company is set to be replaced in the FTSE 100 by Hikma Pharmaceuticals. Read more: At the close: Brexit poll sends FTSE 100 down for the month While Inmarsat’s share price dropped to 719.5p, [...]
New polymer banknotes could cost businesses £236m to implement May 31, 2016 New polymer banknotes being introduced by the Bank of England (BoE) in September this year will cost businesses a staggering £236m to implement, research by an independent payments consultancy has found. CMSpi claims that the process of switching to polymer banknotes will leave businesses with a hefty bill, thanks to the costs of upgrading and replacing cash-handling [...]
What analysts expect from the Opec meeting on Thursday May 31, 2016 Delegates from the increasingly divided Organisation of Petroleum Exporting Countries (Opec) will be hoping for a quiet meeting on Thursday. The gathering will mark the first meeting since Opec and non-Opec members failed to agree a production freeze deal in April. This was largely due to a long-running enmity between regional rivals Iran and Saudi Arabia. Read [...]
