Theresa May at Davos adds another boost to the pound to send the FTSE 100 down January 19, 2017 Prime Minister Theresa May’s speech in Davos gave sterling another boost in morning trading, two days after her Brexit negotiation details pushed the pound to its biggest one-day gain since 1993. May told an audience of global business leaders and bankers post-Brexit Britain will aim to boost industry, which brings the benefits of globalisation to ordinary [...]
How the Trump rally affected stock market valuations January 19, 2017 | City Talk Stockmarkets rarely rally in the face of political and economic uncertainty. The combination of Brexit, Donald Trump’s election, the return of inflation and prospect of higher interest rates would normally undermine demand for shares. But instead, stockmarkets have rallied with some indices hitting all-time highs. Investors expect his policies to reinvigorate the US economy, and [...]
UK and Europe set for record dividend pay-outs in 2017 despite big political risk January 19, 2017 The biggest companies in the UK and Europe are set to pay out a record €315bn (£272bn) in dividends over the course of this year despite political headwinds from Brexit and multiple elections in important EU countries. Dividend pay-outs will rise by four per cent compared with the €302bn paid last year by companies in [...]
London tech startup SuperAwesome is considering an IPO January 18, 2017 A London tech startup specialising in helping brands such as Lego, Mattel, and Peppa Pig maker eOne comply with rules on advertising to kids online is considering an IPO. SuperAwesome is exploring a potential listing on the London Stock Exchange this year, Morning Wire understands, and has engaged with several City institutions at the early stages of exploring going public, but has [...]
Last hurrah for North Sea oil expected this year according to Wood Mackenzie January 18, 2017 North Sea oil production will peak this year before falling back in 2018, according to a new report by Wood Mackenzie, a global energy consultant. This is because of a lack of investment and exploration, the analysts say. In 2017 British oil production will rise for the third straight year, but analysts say this is the peak. [...]
Sterling retreats from Theresa May’s Brexit speech-inspired highs, boosting the FTSE 100 January 18, 2017 Sterling has fallen back from its strongest one-day performance since 1993, helping to nudge the FTSE 100 back into profitable territory. The sterling spot exchange rate against the US dollar had fallen by more than 1.1 per cent at the time of publication to trade below $1.23. It had traded well above $1.24 after Prime [...]
Oil prices have plummeted below $55 per barrel January 18, 2017 Oil prices plummeted to below $55 per barrel this morning after an initial increase. West Texas Intermediate crude and global benchmark Brent futures were trading down as much as 1.5 per cent this morning. At the time of publishing, Brent was down 83 cents to $54.64 per barrel while WTI futures were down 67 cents to $51.69 per barrel. Read more: Oil [...]
The US dollar lifts against Japanese yen ahead of Yellen’s speech January 18, 2017 After falling to a seven-week low against the yen, the dollar lifted today as investors await Federal Reserve chair Janet Yellen's speech on monetary policy. The dollar was up 0.4 per cent to 113.05 yen after hitting the low of 112.57 yen, while the dollar index was at 100.50, up 0.2 per cent, according to [...]
Cairn ploughs on in the North Sea January 17, 2017 Cairn Energy says it has the funds to fuel its projects through to production. The independent oil and gas explorer expects first oil from its Catcher and Kraken developments east of the Shetland Islands this year. The wells are expected to produce 25,000 barrels of oil equivalent per day. Simon Thomson, Chief Executive, Cairn Energy PLC said: “Cairn [...]
Sterling rockets as Theresa May reveals Parliament will vote on Brexit January 17, 2017 Sterling has shot up after Theresa May’s flagship speech on Brexit, as the Prime Minister announced there will be a vote in both house of Parliament on triggering Article 50. Chancellor Philip Hammond also announced the UK would be leaving the EU’s Single Market, which was then confirmed shortly afterwards in the Prime Minister’s speech. [...]