FTSE 100 goes in reverse as sterling strengthened while Covid restrictions increased October 19, 2020 FTSE 100 goes in reverse as sterling strengthened while Covid restrictions increased
London Metal Exchange ‘Ring’ to remain shut for six more months October 19, 2020 The London Metal Exchange’s (LME) iconic “Ring trading” floor will remain shut for six more months, it was revealed today, raising the prospect of its permanent closure. Since the 1800s, traders at the LME have shouted buy and sell orders for metals while seated around a red curricular sofa but the days of one of [...]
Euronext fixes technical glitch that halted morning trading October 19, 2020 Exchange operator Euronext said trading is set to resume after it fixed a technical glitch that halted all transactions in Amsterdam, Brussels, Lisbon and Paris for over three hours. Euronext halted trading in all its cash and derivatives products due to a technical issue this morning. The outage hit trading in cash equities, derivative products and [...]
Tiered coronavirus restrictions hit UK high street shopper numbers October 19, 2020 The UK’s new tiered coronavirus restrictions contributed to a drop in footfall at retail sites across the country last week, in a worrying sign for the shaky economy. Visits to high street shops and malls fell 3.1 per cent in the week ending 17 October, according to data company Springboard. It was the fourth consecutive [...]
Pound jumps on signs a Brexit deal can still be done October 19, 2020 The pound surged as investors bet that Brexit talks would resume – despite the UK’s tough rhetoric – and eventually result in some kind of free-trade agreement. Sterling was up 0.7 per cent by mid-morning at $1.30. It had risen 0.5 per cent against the euro to stand at €1.107. Prime Minister Boris Johnson struck [...]
Covid-19 and “stakeholder capitalism”: actions speak louder than words October 19, 2020 | City Talk The idea that companies should be run for the benefit of all their stakeholders, not just shareholders, is not new. “Stakeholder capitalism”, as it’s become known, was actually the dominant corporate model long before “shareholder primacy” (i.e. prioritising shareholders) really took hold in the Anglo-Saxon world in the 1970s. It remains the norm in some [...]
China’s economy grew 4.9 per cent in third quarter October 19, 2020 China’s economy expanded 4.9 per cent year-on-year in the third quarter, missing expectations but storming ahead of other nations still suffering the economic fallout from the pandemic. Chinese GDP continued its recovery between July and September, marking a second consecutive quarter of growth following a 3.2 per cent hike in the second quarter. The return [...]
Vacancies drop as three tier system comes into place October 19, 2020 Job vacancies fell in the first full week of October, according to new data that paints a worrying picture about the economy’s direction of travel this winter. Employment openings fell six per cent week on week in the seven days that ended on 11 October, data from the job board network Broadbean Technology showed. According [...]
FTSE 100 and US stocks climb as investor fears ease October 16, 2020 The FTSE 100 rebounded as investors returned to risk assets, having dumped them yesterday amid worries over new coronavirus restrictions, while US stocks rose on vaccine hopes and upbeat retail sales data. London’s main stock index climbed 1.7 per cent in afternoon trading to stand at 5,929 points. That followed a 1.7 per cent tumble [...]
Pound swings wildly after Boris Johnson steps up no-deal rhetoric October 16, 2020 The pound swung wildly and gave up its gains after Prime Minister Boris Johnson said the UK should prepare for a no-deal Brexit, amid mixed signals from the negotiating process. Sterling was trading as much as 0.3 per cent higher when Johnson started speaking. It then dropped, rose slightly, and fell again to last stand [...]