Big Oil is sleepwalking into crisis by underestimating the electric car revolution February 15, 2017 The “disruptive” label is overused. However, the unexpected pace of advancement in clean technology over the past decade has taken many established utility companies by surprise. And despite recent, largely reassuring results from the oil sector, Europe’s utilities provide a potentially prophetic glimpse into its future. In the German city of Hamm, the Westfalen D [...]
City watchdog seeks to improve capital markets for companies and investors February 14, 2017 The City watchdog today laid out a discussion paper seeking advice on how the UK primary capital markets could be improved for companies seeking funds and investors. The Financial Conduct Authority (FCA) is canvassing views on whether primary equity markets provide enough capital for company growth, particular in the early-stage science and technology sector. Read [...]
Behind the deal: Biggest IPO of 2017 so far is another triumph for boutique investment bank Zeus February 14, 2017 Actuarial and consulting firm Xafinity today announced plans for the biggest UK float of 2017 so far. Weighing in at £190m, the first premium main market listing of the year marks another triumph for boutique investment bank Zeus Capital, which acted as financial adviser, bookrunner and sole broker. Skiing, mountain biking and initial public offerings Read [...]
This Deutsche Bank analyst thinks the pound could fall another 16 per cent against the dollar February 14, 2017 The pound's dip today may have left some investors a little shaken – but you ain't seen nothing yet, one Deutsche Bank analyst has warned. George Saravelos, the lender's global co-head of FX, said in a Bloomberg interview that the pound could fall as low as $1.05 – or another 16 per cent. "Being bearish [...]
The pound has fallen well below $1.25 on bad inflation news February 14, 2017 The pound plunged below $1.25 this morning, after disappointing figures showed inflation was weaker than expected in January. The pound fell as low as $1.2457 in mid-morning trading, 0.55 per cent down. Meanwhile, it fell 0.68 per cent against the euro, dropping to €1.1739. Inflation had been expected to hit 1.9 per cent in January, [...]
The Bundesbank conspiracy: Why Germany is really repatriating its gold February 13, 2017 An official announcement last week that the Bundesbank had pretty much repatriated half its gold reserves ahead of schedule has once again sent the rumour mill into overdrive. Fans of the precious metal – not shy of a good conspiracy theory – have been deliberating over the move ever since Germany detailed it back in 2013. Initially, [...]
British Gas is not overcharging customers – this is why February 13, 2017 | City Talk As we wrote in our article Forget the acronyms, we value investors care about the treatment of stakeholders. Not just investors but staff, customers, suppliers and regulators. Given the political, regulatory and media pressure on the so called “Big Six” energy companies, the situation at Centrica is worthy of closer examination. Are customers paying too [...]
Here are four reasons why the Russian ruble is at its strongest level against the US dollar since July 2015 February 13, 2017 One of the best performing currencies of 2016 was the Russian ruble. In fact, having edged up a further 0.5 per cent against the US dollar overnight, the currency is at its strongest level against the greenback since July 2015. But what is driving the change? The answer is a mixture of actual changes and market [...]
Opec has revealed compliance with its production cuts reached a record high, and oil prices are plunging February 13, 2017 Analysts are concerned the Organisation of the Petroleum Exporting Countries (Opec)'s production cuts won't be enough to raise crude prices. Opec today revealed it reached a record high of more than 90 per cent compliance with its planned cuts, but oil prices plunged on the news. Global benchmark Brent crude is trading down 2.13 per cent at around $55.49 a barrel while [...]
A surge in copper prices is boosting shares in London’s FTSE 100 miners February 13, 2017 Top London-listed miners' shares were given a boost this morning on the back of stronger metal prices. Mining stocks increased 1.6 per cent as London Metal Exchange three-month copper prices this morning increased about one per cent to the metal's highest price in 20 months . Shares in Glencore, Anglo American, BHP Billiton and Antofagasta climbed between 1.7 per cent [...]