In other corporate headlines, Uber won back its license to operate in London after a court battle that has run for several years, ensuring its right to operate in one of its largest markets. Uber stock closed 3.2% higher following the news. S&P 500: +1.6% Monday, +3.7% YTD Dow Jones Industrial Average: +1.5% Monday, -3.3%…
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Energy stocks fall 8.6% in a week While the S&P 500 and Dow Jones Industrial Average both fell last week, the tech heavy Nasdaq Composite managed to eke out a 1.1% gain. Tech giants Amazon, Apple and Microsoft all posted positive weeks, but remain down between 9% and 10% apiece over the past month. In…
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Democrats aim for pared back stimulus bill All three major US stock indices eked out a positive day after a volatile session yesterday. The next round of Covid-19 economic stimulus once again hit headlines, after reports that Democrats are putting together a new $2.4trn bill that cuts roughly a trillion dollars from the cost of…
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Cineworld up 10% ahead of earnings, but then disappoints London-listed stocks rallied yesterday while their US counterparts fell, with the FTSE 100 and FTSE 250 both adding more than 1% on the day. In the FTSE 250, Cineworld Group jumped 10% the day ahead of its latest quarterly earnings report, in anticipation of positive news…
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Twitter, Amazon lead market rally as stocks snap losing streak Consumer and technology names led a positive day for US stocks, snapping a multi-day losing streak. In the S&P 500, the consumer discretionary sector was the biggest winner with a 3% gain, while the information technology sector was up 1.7% and the communication services sector…
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British Airways parent down double digits Similar to the US, airlines and travel names were among the hardest hit in the UK yesterday, when the FTSE 100 closed down 3.4% and the FTSE 250 was off by 4%. Renewed second wave and lockdown fears were the order of the day, with British Airways owner IAG…
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Energy stocks lead the week after oil rallies back past $40 a barrel The top line figures for the major US stock indices do not tell the full story of last week. Given their dominance market cap wise, the tech giants can easily swing indices into the red even when other sectors are performing well.…
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What to watch Informa: Business intelligence and events business Informa is down more than 50% year-to-date, as the pandemic has decimated its ability to generate revenue from conferences and other exhibitions. The London-listed firm delivers its latest set of quarterly earnings on Monday. This week, JPMorgan Cazenove downgraded its rating on the stock to neutral,…
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Morrison earnings disappoint while Games Workshop soars London-listed shares were close to flat yesterday, although they ended the day in the red. Sterling suffered another poor day, falling more than 1% against both the dollar and euro after the European Central Bank decided to hold fast on its current interest rate position. Morrison Supermarkets brought…
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AstraZeneca pauses Covid-19 vaccine trial The pound continued to slump yesterday, falling below $1.30 after reports that the UK is stepping up preparations for a possible no-deal Brexit. The tumbling pound buffered UK stocks from the broader Tuesday sell-off globally (as large UK firms make a significant proportion of their money overseas in other currencies)…
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