Gold prices hit lowest level since EU referendum October 4, 2016 Gold prices have dipped to their lowest level since the referendum in a big morning of movers-and-shakers on the global money markets. An ounce of the yellow stuff on the spot exchange markets will set you back $1,292 this morning, down 1.5 per cent from yesterday's close. That is the lowest price for gold since the UK [...]
FTSE 100 smashes through 7,000 as investors cheer falling pound October 4, 2016 The FTSE 100 smashed past the 7,000 mark this morning as the falling pound continued to keep investors' spirits high. The market opened at 7,004 points, 0.28 per cent up on yesterday's closing price, before rising more than one per cent to 7,054 points in early trading. Although the market edged towards the psychologically important milestone yesterday, it finished [...]
Sterling drops below post-Brexit vote low to its weakest since 1985 October 4, 2016 Sterling has dropped this morning to its weakest since 1985, dipping by 0.5 per cent to $1.2779. The pound has been in decline since Prime Minister Theresa May announced the timetable for Brexit negotiations over the weekend, and plunged even further this morning. Sterling has also been pulled down by concerns over the possibility of a [...]
Oil briefly rises above $51 per barrel, buoyed by Opec optimism October 3, 2016 Oil briefly rose above $51 per barrel today as investors weighed optimism over oil cartel Opec’s ability to agree on a production cut against the stubborn oversupply. The group is meeting next month in Vienna after signalling at a summit last week in Algeria that they could reach their first output agreement in eight years. Brent crude, the [...]
Back down it goes: Deutsche Bank share price drops in US October 3, 2016 Deutsche Bank's US-listed shares have fallen three per cent, just hours after the market opened. Shares in the German bank plummeted last week, after various reports emerged doubting Chancellor Angela Merkel's appetite for state assistance, despite the lender facing a potential $14bn (£10.8bn) fine from the US Department of Justice (DoJ) for mis-selling mortgage-backed securities. However, [...]
Before the bell: What you need to know before the US market open October 3, 2016 Sterling has dropped after Prime Minister Theresa May said the UK will trigger the formal process of leaving the European Union by March next year. Here's what you need to know before the US market open at 2:30pm. US stock futures are broadly flat in the pre-market. The S&P is off by just 0.01 per [...]
Research proves that investors are better off putting their money with a female fund manager October 3, 2016 There is always a lot of noise about what to do with your investments. Which asset? What asset management company? Index tracking or actively managed? But new research has revealed that there is one other important consideration that could bolster returns: make sure your fund manager is not a bloke. Read more: GlaxoSmithKline names Emma Walmsley [...]
The FTSE 100 has hit its highest point since June 2015 October 3, 2016 The FTSE 100 has hit its highest point since June 2015, reaching 6,974 points in morning trading, up 1.09 per cent at time of writing. A weaker pound has helped to edge the UK's benchmark stocks upwards, moving ever closer to that psychologically significant 7,000 mark. Many of the international blue-chips on the index will benefit [...]
Medical goods maker Convatec announces London listing October 3, 2016 A major international maker of medical products unveiled plans to raise $1.8bn from a London initial public offering (IPO) this morning. Convatec, which specialises in making products for incontinence, wound therapeutics, and critical care announced this morning its intention to float in "late October or early November". The company was sold by the healthcare giant Bristol-Myers Squibb in [...]
Darktrace is now worth $500m and has IPO ambitions October 3, 2016 One of the UK's hottest tech startups is now worth half a billion dollars and has ambitions to go public, City A.M can exclusively reveal. Darktrace, the cyber security startup which boasts backing from top Silicon Valley venture capitalists, Wall Street investors and former Autonomy entrepreneur Mike Lynch, was valued at $450m after a major round [...]