Investor relief at Dutch election: what next for stock markets? March 16, 2017 | City Talk European stock markets have expressed relief at the Dutch election result. Traders had been anxious and share prices put under pressure in the run up to polling day yesterday. But centre-right Prime Minister Mark Rutte saw off a challenge from the Party for Freedom (PVV), led by anti-immigration nationalist Geert Wilders. The election had been [...]
Oxford University on a high as Star Trek star backs medicinal cannabis research March 15, 2017 Star Trek actor Sir Patrick Stewart has publicly endorsed cannabis research at Oxford University, after admitting to using the drug for medicinal reasons in America. Stewart has backed the UK’s first ever research project launched by Oxford University today which aims to explore the benefits of cannabinoid-based medicines for sufferers of arthritis like himself. Stewart [...]
Why the FTSE 100 rises when sterling falls – explained in two charts March 15, 2017 | City Talk The FTSE 100's strong recovery after the Brexit verdict in last June's referendum caught some investors off guard. After an initial wobble, the index surged. Three months later, it was 10.4% higher. But why? There may have been some other factors at play in those months, but one of the strongest drivers in the [...]
Wealth manager Brooks Macdonald reports growth despite “really terrible” period after Brexit vote March 15, 2017 Wealth manager Brooks Macdonald today reported growth in funds under management (FUM), revenues and profits, despite a “really terrible” period after the EU referendum. The figures Discretionary FUM were £9.3bn at the end of 2016, up 19 per cent on 2015. In the six months to 31 December, revenue came in at £45.3m, up 17 [...]
It looks like Brewdog’s about to land a big new investor, make a major shake-up of its shareholdings and eventually IPO March 15, 2017 Popular "punk" craft beer maker Brewdog has said it's about to land a new investor and also revealed it's considering a time frame for an IPO. In a letter to its shareholders, many of whom backed the brewer through crowdfunding, it said it has been in talks with a number of potential investors and is now [...]
Why the FTSE 100 rises when sterling falls – explained in two charts March 15, 2017 | City Talk The FTSE 100's strong recovery after the Brexit verdict in last June's referendum caught some investors off guard. After an initial wobble, the index surged. Three months later, it was 10.4% higher. But why? There may have been some other factors at play in those months, but one of the strongest drivers in the fortunes [...]
The trends the world’s top firms are cheering March 15, 2017 Corporate fundamentals are now seen to be improving – in all regions and sectors. After three years of deteriorating sentiment, our annual Analyst Survey, encompassing the views of 146 equity and fixed-income analysts, has found there’s much more confidence among the world’s largest companies. Demand growth is back, and we find signs of reflation, rather [...]
The deadly risk of sugar: It’s time investors reassessed food and drinks companies March 15, 2017 In a year where major political earthquakes have moved markets and dominated the news agenda, it’s easy to overlook an investment risk posed from a more mundane source. Overconsumption of sugar, an everyday household item, has consequences both for businesses and their investors that could leave a bitter taste. In 2014, more than 1.9bn of [...]
Chris Hohn’s activist fund attacks Safran’s “enormously destructive” €8.5bn Zodiac takeover March 14, 2017 Chris Hohn’s activist hedge fund has had another bite at French aircraft-engine maker Safran over a planned €8.5bn (£7.4bn) takeover. The Children’s Investment (TCI) Fund, which owns a 4.1 per cent stake in Safran, publicised its opposition to the deal for plane-seat maker Zodiac last month, saying it had “no strategic rationale”. Safran hit back shortly [...]
Does the FTSE 250 really reflect British economic health? March 14, 2017 | City Talk In the first of an occasional series focusing on ‘untrue truisms’, we look at the commonly-held view that the FTSE 250 index is a better indicator of the UK’s economic health than the FTSE 100 Forget the ‘FTSE 100’ stock market index of the UK’s very largest companies – it is the next block [...]