Another miss for London’s IPO market? Parkdean Resorts sold to Canadian private equity house December 18, 2016 A Canadian private equity house this weekend announced the acquisition of a UK caravan holiday parks operator, in a deal that could be seen as another loss for London’s flotation market. Toronto-based Onex Corporation has agreed a £1.35bn deal for Parkdean Resorts, which is currently owned by Epiris, formerly known as Electra, and Alchemy. The [...]
Driverless cars’ arrival looks set to shake up the automotive, oil and tech sectors December 16, 2016 The energy markets are starting to recover from their multi-year swoon, but there may be a bigger change ahead. It’s starting to look like the rise of self-driving vehicles is not only inevitable, but that it will be here sooner than many would have thought possible. That will likely upend the oil markets in ways [...]
Euro reaches lowest level against dollar since 2003 December 15, 2016 THE EURO hit its lowest point since the start of 2003 against the dollar yesterday as the Federal Reserve’s plans for tightening monetary policy added further momentum to the greenback’s surge since the election of Donald Trump as US President. The euro/dollar spot exchange rate hit a low of $1.0367 in afternoon trading before recovering [...]
Oil prices: Brent crude and West Texas Intermediate prices rise as markets adjust to US interest rate hike and dollar rally December 15, 2016 Oil markets stabilised today after sharp falls before and after yesterday's decision to raise US interest rates from 0.5 per cent to 0.75 per cent. Brent crude, the global benchmark, was up 0.7 per cent to $54.29 a barrel, while US sweet crude rose 0.3 per cent to $51.17. On Monday, Brent crude hit a temporary [...]
FTSE 100 miners Fresnillo, Randgold Resources and Polymetal fall as gold prices slump to 10-month low December 15, 2016 Shares in FTSE 100 gold miners were battered this morning as prices of the yellow stuff fell to a 10-month low. A dollar rally pushed spot gold prices down 1.23 per cent to $1,128.85 an ounce this morning, after the US Federal Reserve yesterday raised US interest rates from 0.5 to 0.75 per cent and [...]
Chinese mega cities increase dominance in Schroders Global Cities 30 index December 15, 2016 | City Talk Fund manager Hugo Machin explains the trends behind the latest moves in the Schroders Global Cities index Chinese cities had a strong showing in the first Schroders Global Cities 30 index, launched in the summer. In the first update to the index, that dominance has only increased. Four of the top five spots are now [...]
Shell finance chief Simon Henry to leave after 30 years with the oil major December 15, 2016 Royal Dutch Shell announced today that finance chief Simon Henry will step down in March 2017, to be replaced by Jessica Uhl. Henry – who was appointed to the Lloyds Bank board in 2014 – has been with Shell for over 30 years, and has been chief financial officer for seven. "I have been privileged to [...]
Challenger exchange group Bats flies index business into continental Europe with eight new launches December 13, 2016 Stock exchange group Bats Europe has today announced eight new benchmark indices across Europe, following the launch of its index business in London earlier this year. The eight indices, for the French, German, Swiss and Italian markets, will launch on 19 December and provide “real-time, high-quality and low-cost alternatives to those provided by the incumbent [...]
Two charts for those already suggesting the value bounce is finished December 13, 2016 | City Talk When you sign up to be a value investor, you soon learn you have not chosen the easiest path to tread. Even so, here on The Value Perspective, we still find ourselves occasionally astonished at the way the wider market can seem so willing to write off the discipline’s prospects. Take the recent resurgence in [...]
As Trump enters the White House, will the Federal Reserve hike interest rates more aggressively in 2017? December 13, 2016 It was Ronald Reagan who warned against inflation in 1984 by describing it creeping “like a thief in the night to rob our savings, rob our earnings, and take the bread off our tables.” It is ironic then that President-elect Donald Trump, who borrowed his forebear’s campaign slogan “Make America Great Again” to win the [...]