|Day's Range||7,321.41 - 7,378.32|
|52 Week Range||6,536.50 - 7,727.50|
Sep.16 -- Jimmy Conway, head of EMEA equity trading strategy at Citigroup Global Markets, talks about the U.K.'s political crisis and the implications for the financial markets. He speaks with Manus Cranny and Nejra Cehic on "Bloomberg Daybreak: Europe."
Exxon Mobil propped up the Dow Jones today, but stocks drilled lower as oil prices spiked and a workers' strike affected General Motors stock.
The heavy exposure of the U.K. to the energy sector was on display on Monday, as the FTSE 100 outperformed most global benchmarks in wake of the attacks on Saudi Arabia that has taken half of its production offline.
Global stocks traded notably lower Monday, while oil prices surged the most in more than two decades, as an attack on two key Saudi Arabian oil facilities, as well as the weakest industrial output data from China in many years, hammered equity market sentiment.
It’s a big week ahead for the markets. The FED, the BoE and Brexit are in focus, with stats and chatter on trade also needing some attention.
At the FT Weekend Festival last weekend, Rhian-Mari Thomas, chief executive of the new (and exciting) Green Finance Institute, pointed out to the audience that, over the past decade, green has firmly trumped black. If you had invested in the FTSE All-World index excluding fossil fuels, she said, you would have outperformed the index by 5.5 percentage points in the five years to March 2018. If you had invested in the FTSE Environmental Opportunities All-Share index you would have outperformed the FTSE Global All Cap index by 14.5 percentage points.
Ovo has struck a £500m deal to buy the household business of larger rival SSE in a bold move that will make it Britain’s biggest energy supplier behind British Gas. Founded by former City trader Stephen Fitzpatrick a decade ago as a challenger to the so-called big six energy companies, Bristol-based Ovo will be propelled into the top flight with an 18 per cent market share, just behind British Gas on 19 per cent. It is currently the seventh-largest supplier, with 5 per cent of the market.
Visa stock ran on the Dow Jones today, as LKQ and Activision lead as stock turn mixed early Thursday, despite a positive ECB vote and fresh trade war news.
Global markets rise on trade hopes and stimulus plans, the S&P; 500 is striking distance from new all-time highs.
European stocks move higher on Thursday after the European Central Bank delivers fresh stimulus in the form of a deposit-rate cut and fresh asset buying plans.
Helping out were signs of easing tensions between the U.S. and China, after President Donald Trump tweeted that he will delay implementing higher tariffs on $250 billion of Chinese goods for two weeks as a “gesture of good will.”
Global stocks booked solid gains again Thursday as investors awaited a key policy statement from the European Central Bank and reacted to signals of potential progress in U.S.-China trade talks.
Trump blasts the FOMC again as we gear up or another meeting, he wants zero interest rates but the data just doesn’t support it.
LONDON MARKETS The surprise unsolicited bid for the London Stock Exchange helped boost U.K. stocks on Thursday. Shares of the LSE (UK:LSE) rallied 5% to 7168 pence as Hong Kong Exchanges and Clearing published details of its nearly 30 billion pound cash and stock offer.
(Bloomberg) -- Neil Woodford has lost at least 43.5 million pounds ($54 million) from selling some stakes from his frozen flagship fund.The embattled money manager took the biggest hit on shares in NewRiver REIT Plc. Woodford spent about 181 million pounds building up his stake in the U.K. retail landlord, but recouped just 131 million pounds when he unloaded the shares, according to publicly available information and Bloomberg calculations. He made money on just two of 10 companies: BCA Marketplace and Oakley Capital.A representative of Woodford Investment Management said the money manager and his team “continue to make progress” in building a “much more liquid portfolio” for the flagship fund. When it reopens, the fund “will continue to be focused on undervalued companies, and the majority of them will be FTSE 100 and FTSE 250 index constituents,” the spokesman said.Woodford stunned the financial world in early June when he halted withdrawals from his LF Woodford Equity Income Fund after a run of poor results led to mounting redemption requests. He has since lost key executives and long-time backers, has been hit by criticism from a top lawmaker and faces an investigation by the U.K. markets regulator.The firm has said the decision was made to give Woodford time to sell down the fund’s holdings of lightly traded stocks, and that he isn’t a forced seller.Why ‘Liquidity Mismatch’ Is Scaring the Bond Market: QuickTakeThe bright spots in Woodford’s sales spree have come from BCA Marketplace and Oakley Capital. The money manager invested in BCA in 2015 at a volume-weighted average price of 139 pence per share, and exited at 241.5 pence, resulting in a profit of 59.6 million pounds, Bloomberg calculations show. Selling the Oakley stake brought in another 33.8 million pounds.Bloomberg’s analysis focuses on stakes that Woodford has sold in their entirety. The calculation of his gains and losses excludes dividend payments.Link Fund Solutions Ltd., the administrator of Woodford’s flagship, has said its goal of lifting the suspension in early December is realistic. The fund has 3.1 billion pounds of assets under management, according to Morningstar.(Adds background on freeze in fourth paragraph.)To contact the reporters on this story: Suzy Waite in London at email@example.com;Carla Canivete in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Shelley Robinson at email@example.com, Patrick HenryFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
LONDON (AP) - Scottish court rules Boris Johnson's suspension of Parliament is unlawful, but does not order it to be reversed.
European shares hit six-week highs on Wednesday, supported by easing U.S.-China trade tensions and hopes of fresh stimulus from the European Central Bank, while news from individual companies played into the upbeat mood. Shares of London Stock Exchange hit a record high after Hong Kong Exchanges and Clearing made an unsolicited $39 billion takeover approach, but wanted LSE to ditch its acquisition of data company Refinitiv. Shares in Prosus, a spin-off from Naspers that includes the e-commerce group's 31% stake in Chinese tech giant Tencent, surged more than 25% on their stock market debut in Amsterdam, creating one of Europe's largest internet companies.
Sports Direct's shareholders get their yearly moment with Mike Ashley at the company's AGM today. It may not be as eventful as the pub-based management meeting at which Ashley drank 12 pints and vomited into a fireplace. Then there are the (familiar) squeals from independent shareholders.
Adrian Mole, everyone’s favourite fictional teenage diarist, turned 52 this year. The hit West End musical means a new generation of fans are discovering the 13¾-year-old’s musings, but those of us who remember Sue Townsend’s hugely popular books the first time around are left feeling decidedly ancient. How could Adrian, a cult figure throughout our school years, possibly be approaching the age where he could cash in a pension?
The FTSE 100 company, which is responsible for balancing supply and demand in Britain’s electricity network, said Ofgem should review “whether it would be appropriate to provide for higher levels of resilience in the electricity system”. The call came as it published a report into the outages of August 9, which caused widespread travel disruption at rush hour, particularly in and out of London.
The U.K. unemployment rate in July fell to 3.8% from 3.9% in June, as the claimant count rose to 28,200 from 19,800. Economists polled by FactSet had forecast an unemployment rate of 3.9%. The number of vacancies from June to August fell to 812,000, down 23,000, while average weekly earnings climbed an above-forecast 4%.