Outsourcers’ woes continue as construction giant Kier Group braces for potential drop from FTSE 250 December 4, 2018 The beleaguered UK outsourcing industry could suffer another blow in coming days with construction giant Kier Group looking set to drop from the FTSE 250 index. Kier’s stock was down another eight per cent this morning as the spectre of Wednesday’s round of FTSE index relegations and promotions loomed. Morning Wire understands Kier is one of several [...]
Spreadbetter IG says revenue has fallen since new European regulations introduced December 4, 2018 Spreadbetter IG Group said today it expects revenue in the first half of the year to be six per cent lower than in the same period last year following the introduction of new European regulations that have hit the sector hard. In July the European Securities and Markets Authority (Esma) introduced rules restricting the provision [...]
Rigged and ready: After recent gains, are oil prices set to recover? December 4, 2018 The oil market has had a tough time this year, with prices sliding since October. And yet, there’s been a radical turn of events over recent days, with the picture looking drastically different as the markets opened for trading this week. In fact, one of yesterday’s biggest market movements was oil, with brent crude surging [...]
Will markets have a jolly festive season this year? December 4, 2018 It's December and time to deck the halls with boughs of holly. Or in CNBC’s case, it’s time for the business channel to be immersed in chatter of a potential Santa Claus rally and 2019 fortunes. Santa’s performance for the Dow Jones Industrial Average has been fairly reliable over the past five years, with investors rewarded [...]
Oil giant Shell reveals plans to link executives’ pay to sustainability targets December 3, 2018 Oil producer Shell today proposed linking its executives’ pay to their ability to reduce the company’s greenhouse gas emissions. The Anglo-Dutch giant said it would start setting three to five-year pay-linked targets for 1,200 of the most senior members of its team. It is part of a long-term plan to meet goals in the Paris [...]
Tencent music arm makes its move on delayed IPO set to raise up to $1.23bn December 3, 2018 Tech giant Tencent Holdings’ music subsidiary has moved forward on a New York Stock Exchange initial public offering (IPO) of up to $1.23bn (£1bn) today. Tencent Music Entertainment is hoping to raise between $1.07bn and $1.23bn, according to a US Securities and Exchange Commission filing, in a delayed offering that was originally planned to launch in [...]
Trump tweets after Xi Jinping meeting give global stock markets boost December 3, 2018 Donald Trump and Xi Jinping have agreed a 90-day respite from from the two countries’ spat over trade tariffs, causing Wall Street to jump as it opened and giving global stock markets a shot in the arm overnight. In customary fashion, Trump took to Twitter after a two-and-a-half hour dinner between the Chinese and US [...]
Glencore copper chief Telis Mistakidis to step down at the end of the year amid management reshuffle December 3, 2018 Glencore's billionaire copper chief Telis Mistakidis is to step down at the end of the year amid a wider management reshuffle at the mining company. Mistakidis, a Greek billionaire who began working at Glencore in the early 1990s, will be replaced by Nico Paraskevas. The management shakeup comes as the mining giant faces a probe by the US [...]
The “79 per cent chance” the Santa Rally is real December 3, 2018 | City Talk Stock markets have risen in 79 per cent of Decembers over the last three decades adding some substance to the myth of the “Santa Rally”, Schroders research has found. The “Santa Rally” is a supposed effect of the Christmas feel-good factor, helping stock markets rise at the end of the year, although many seasoned investors remain [...]
Global markets rally on improved US-China trade relations December 3, 2018 Markets worldwide rallied this morning on the news that China and the US had pulled back from the brink in their escalating trade war. The FTSE 100 was up 145 points on 7,125, the FTSE 250 up 250 points to 18,730 and the FTSE all-share was up 73 points on 3,896. Among the biggest risers [...]