GDP data: UK construction ‘head and shoulders above other sectors’ in Covid recovery April 13, 2021 The construction sector is playing a key role as the fastest growing sector of the UK’s Covid-hit economy, according to analysts. The UK economy edged up 0.4 per cent in February as it rebounded from a January slump, helped by a 1.6 per cent rise in construction. The sector’s improvement was driven by growth in [...]
US securities regulator steps up scrutiny of blank-cheque vehicles April 13, 2021 The US securities regulator has issued new guidance for special acquisition companies (SPACs) amid concerns they have improperly accounted for warrants sold or handed to investors. SPACs have become a popular route for companies wanting to go public. They are created and listed to raise money with the intention of buying a private company within [...]
Pound sterling jumps as shops in England reopen and pubs start serving April 12, 2021 GBP started the week well, trading up against the dollar and euro today as shops, gyms, pubs and restaurants reopen across England
Johanna Kyrklund: the FOMO market is over – so, what’s next? April 12, 2021 | City Talk Maybe lockdown has made me more middle aged and boring. I’m just not as interested in trendy stuff any more, both in my personal life (I opted for a VW ID3, not a Tesla, after all) and now in investing. But in today’s markets a more boring approach – favouring diversification and judiciousness over more [...]
FTSE falls as England starts to reopen April 12, 2021 London’s main market fell 0.4 per cent this morning despite positive sentiment about England starting to open up following the coronavirus lockdown. The FTSE 100 was down 0.4 per cent while the FTSE 250 fared slightly better, down a more moderate 0.2 per cent. For most, today marks the first day of 2021 that non-essential [...]
UK records strongest opening quarter IPO performance in 14 years April 12, 2021 UK listings got off to a strong start this year, with more funds raised in the opening quarter of 2021 than in any other opening quarter since 2007. The first quarter of 2021 also marked the most funds raised in a single quarter since 2014, according to new research from EY. Both the main market [...]
Trafigura to open carbon offset trading desk April 9, 2021 Commodities giant Trafigura has today announced that it will launch a carbon trading desk as financial institutions continue to adapt to the ever-increasing focus on climate change. The new desk will be led by Hannah Hauman, the firm’s former head of crude oil trading in Europe. The decision marks another step into the low-carbon market [...]
Wall Street dips after Fed minutes affirm low interest rates for longer April 7, 2021 Wall Street dropped towards the end of trading, as traders digested the latest update from the Federal Reserve latest’s meeting. The Dow Jones, and Nasdaq indexes are currently down by 0.06 and 0.07 per cent respectively, while the S&P 500 is performing a little better, up 0.6 per cent. The Fed struck a dovish tone [...]
FTSE 250: The best and worst performers ranked as index hits record high April 7, 2021 It’s been a stellar week for the FTSE 250, which today soared to record highs as stocks rode a wave of optimism ahead of a further easing of lockdown measures. The domestically-focused index closed up 0.76 per cent at 22,160 points — an all-time high — as investors were buoyed by the reopening of pubs [...]
UK PMIs: Service sector returns to growth as lockdown end nears April 7, 2021 The UK’s services industry returned to growth in March, with business activity, new orders and unemployment all rebounding from the previous month. New data released this morning shows that the UK’s impressive vaccine rollout had seen the economy recover at a faster rate than initially expected. The IHS Markit/Cips purchasing managers (PMI) index for services registered 56.3 [...]