UK recession alarm bells ring as services sector contracts October 3, 2019 The risk of a UK recession has shot up after the huge services sector contracted in September, causing the biggest cut in employment in over nine years, according to closely-watched survey data. Read more: Global stock markets bleed red on US-EU trade war fears The sector – which makes up about 80 per cent of [...]
Hiscox trumps profit forecasts but warns of profit hit from natural disasters July 12, 2019 A spate of natural disasters battered insurance giant Hiscox over the last year, with the insurer’s share price sliding five per cent this morning as it warned of a deteriorating market. The London-listed group’s share price fell five per cent to 1,653p in early morning trading, as investors digested the group’s warning that global catastrophes [...]
Investors balk at Slack’s earnings debut on Wall St September 4, 2019 Shares of workplace technology giant Slack fell more than 15 per cent in after-hours trading tonight, following the company’s first set of quarterly results published since its markets debut in June. Slack, which is the creator of its eponymous workplace messaging app, said it had suffered a significant impact on its revenue due to the [...]
JP Morgan beats market expectations for first quarter sending shares surging April 12, 2019 US investment bank JP Morgan beat expectations in its first quarter results today, sending shares up four per cent. The bank, the largest in the US by assets, delivered record revenue and profit figures, boosted by higher interest rates. Revenue in the quarter to 31 March rose 4.7 per cent to $29.85bn (£22.84bn), up from [...]
FTSE 100 and FTSE 250 reopen after glitch hits morning trading August 16, 2019 Trading in FTSE 100 and 250 stocks has reopened after a software issue that delayed the starting bell this morning was resolved. The London Stock Exchange (LSE) said it had “experienced a technical software issue” that had “affected trading in certain securities” but that this had been resolved. Read more: London stock exchange seals $27bn [...]
Wealth management arm helps Morgan Stanley to beat profit estimates July 18, 2019 Morgan Stanley reported a dip in profits during the last three months, but followed several of its big banking peers this week by trumping Wall Street estimates. Read more: Danske Bank misses profit estimate after troubled 12 months The US multinational group posted earnings of $2.2bn (£1.76bn), or $1.23 a share, falling from $1.30 per [...]
Danske Bank misses profit estimate after troubled 12 months July 18, 2019 Danske Bank’s pre-tax profits for the second quarter of 2019 fell below expectations, as low interest rates and costs from an Estonian money laundering scandal dented its balance sheet. Read more: Danske Bank sacks former interim CEO over fees crisis The European banking giant posted pre-tax profits of 4.76bn Danish crowns (£576m) during the three [...]
Blackrock profit drop misses expectations July 19, 2019 Blackrock disappointed Wall Street expectations this afternoon after posting a worse-than-expected fall in quarterly profits. The world’s largest asset manager reported net income of $6.41 per share, or $1bn (£800m), falling from $6.62 per share in the same quarter last year and missing Refinitiv estimates of $6.50 per share. Read more: Outgoing RBS boss Ross [...]
Syria-bound oil tanker seized by British troops July 4, 2019 Royal Marines this morning boarded a tanker thought to be carrying Iranian oil to Syria through the Strait of Gibraltar. The boarding, which is believed to be the first under EU sanctions on Syria, happened in the early morning. Read more: Rouhani says Iran will ramp up uranium enrichment from Sunday “We have detained the [...]
European funds back to modest inflows amid tough conditions August 19, 2019 The European fund industry has weathered volatile conditions to enjoy estimated net inflows for the first half of 2019, after seeing estimated net outflows for the first time since 2011 last year. Mutual funds in Europe saw estimated net inflows of €41.3bn (£38.1bn) for the first half of the year, according to Refinitiv’s review of [...]