Rightmove faces FTSE 100 eviction as engineering firms climb, say analysts August 29, 2018 Online estate agent Rightmove is the top contender to drop from the FTSE 100 during its reshuffle next week, analysts have predicted. A weak housing market in London and the south-east, and tough competition for rivals such as Zoopla and PurpleBricks could see the company dropped into the FTSE 250, despite year-on-year growth in revenue [...]
Turkish lira slumps further after banks downgraded August 29, 2018 The Turkish lira has slumped further against the dollar after ratings agency Moody's downgraded banks yesterday evening, amid a dispute between President Tayyip Erdogan and US President Donald Trump. The currency weakened to 6.4 lira to the dollar early this morning, its weakest since 15 August, and had dipped as low as 6.37 before recovering [...]
Demand for oilfield services fuels profits as Petrofac unveils major contract August 29, 2018 Oil and gas heavyweight Petrofac’s share price edged up this morning as the firm unveiled a new $600m (£466m) engineering contract alongside a strong half-year profits report. Profits in the first six months of 2018 hit $190m, surging 20 per cent from the same period last year in the wake of rising demand for oilfield services. [...]
Aston Martin profits up as company confirms IPO August 29, 2018 Luxury car manufacturer Aston Martin has confirmed its intention to float on the London Stock Exchange in a flotation that could value it at £5bn, as the company reported increased profits in its half-year results. Read more: Aston Martin to IPO in £5bn stock market listin The figures The UK-based company revealed revenue was up [...]
DEBATE: As UBS factors in Instagram influence, should investors value a brand’s social media presence? August 28, 2018 As UBS factors in Instagram influence, should investors value a brand’s social media presence? YES, says Rashid Ajami, founder of Connectt. Social media engagement has changed dramatically in recent years, moving from a more traditional form of display advertising that is pushed directly into people’s newsfeeds towards a more considered strategy where brands engage in real-time interactions [...]
Sterling falls to one-year low against euro as Theresa May plays down threat of no-deal Brexit August 28, 2018 The pound fell to its lowest level against the euro in almost a year today after Prime Minister Theresa May refused to rule out a no-deal Brexit. Sterling fell to as low as €1.1021 against the euro, its lowest level since 11 September 2017, in early trade before recovering marginally. Theresa May told reporters on [...]
Theresa May says no-deal Brexit isn’t ‘the end of the world’ August 28, 2018 Prime Minister Theresa May has suggested that a no-deal Brexit “wouldn’t be the end of the world”, despite the Treasury warning that such a scenario could reduce GDP by 10 per cent. She further claimed that chancellor Philip Hammond’s department’s prediction was “a work in progress” and re-iterated her claim that no-deal is a better [...]
Predator Oil & Gas sets sights on monetising Trinidad and Ireland prospects August 28, 2018 Predator Oil & Gas Holdings today outlined plans to generate cash for investors after successfully funding its short and medium-term operations in its recent listing on the London Stock Exchange. The new listing, formed to take advantage of drilling prospects in the Republic of Trinidad and Tobago, raised £1.3m through its May IPO, and has [...]
Shares on Wall Street hit record highs as Donald Trump announces new trade deal with Mexico to replace Nafta August 28, 2018 Shares on Wall Street hit record highs yesterday after US President Donald Trump appeared to have agreed key parts of a trade deal with Mexico. Trump announced a new United States-Mexico Trade Agreement to replace the existing North American Free Trade Agreement (Nafta), and said negotiations with Canada would begin immediately. Canadian foreign minister Chrystia [...]
Turkish lira falls as investors focus on lack of progress in US dispute after holiday week August 27, 2018 The Turkish lira suffered a further steep sell-off today as the embattled nation returned from a week-long national holiday to a currency crisis showing little sign of improvement. The currency fell by nearly five per cent in earlier trade against the US dollar, before firming to a daily loss of just over 2.3 per cent [...]