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Search resuls for: "London Stock Exchange"


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JPMorgan’s Physical Copper Trust and Blackrock Asset Management’s I-shares Copper Trust between them proposed to hold as much as 182,800 tonnes of copper. ETF Securities launched physically-backed metal funds in 2010 but they didn’t make it through the bear years either. GPF, which also offers four physically-backed precious metals funds, is “committed to democratising investment in precious and base metals,” according to the fund’s chief executive Alexander Stoyanov. GPF’s copper fund has a management expense ratio of 0.85%, compared with 0.49% management fees charged on the Wisdom Tree Copper futures-linked fund. More significantly, physical funds forfeit the potential yield of rolling a long position across a backwardated futures curve.
Persons: Goldman Sachs, it’s, That’s, , Alexander Stoyanov, Nornickel’s Organizations: Reuters, LONDON, Global Palladium Fund, London Stock Exchange, Securities and Exchange Commission, SEC, Trust, JPMorgan, Blackrock, ETF Securities, Credit Suisse, Exchange, Commodities, London Metal Exchange Locations: Blackrock, Rotterdam
REUTERS/Toby Melville/File photoSummary UK retail sales fall 1.4% in May as consumers dine outTesco down as sale growth slowed in first quarterFTSE 100 down 1.9%, FTSE 250 off 1%June 18 (Reuters) - London's FTSE 100 index marked its worst session in over a month on Friday, dragged by weakness in financial and commodities-linked stocks, while data showed retail sales fell in May as Britons dined out more following a lifting of pandemic restrictions. The blue-chip FTSE 100 (.FTSE) ended 2.0% down and shed 1.7% this week, snapping a win streak of three consecutive weeks in gains. British retail sales fell unexpectedly by 1.4% last month as a lifting of lockdown restrictions encouraged spending in restaurants rather than shops, with food stores suffering the biggest hit. read moreBritain's biggest retailer Tesco (TSCO.L) also reported a sharp slowdown in underlying UK sales growth in its first quarter, sending its shares down 4.1%. The domestically focused mid-cap index (.FTMC) fell 1% dragged by retailers, industrials and financial stocks.
Persons: Toby Melville, Keith Temperton, Laith Khalaf, AJ Bell, Kin, Devik Jain, Subhranshu Sahu Organizations: London Stock Exchange Group, City of, REUTERS, Tesco, FTSE, Banking, BP, Royal, Shell, Forte Securities, U.S, U.S . Federal, Bank of England's, Bank of England, Aegon, Thomson Locations: City, City of London, Britain, U.S ., Bengaluru
The domestically focused mid-cap index (.FTMC) advanced 0.2% after three straight sessions of falls and outperformed the blue-chip FTSE 100 (.FTSE) and pan-European STOXX 600 (.STOXX). Among industrials, Rotork Plc (ROR.L) climbed 2.3% and was one of the biggest gainers after Morgan Stanley upgraded the stock to "overweight". Inchcape (INCH.L) jumped 3.8% to the top of the index after the car dealership said its current-year earnings would beat market estimates. read moreThe FTSE 100 index (.FTSE) fell 0.4%, dragged down by heavyweight oil majors BP (BP.L) and Royal Dutch Shell (RDSa.L), and life insurers (.FTNMX303010). British retail sales fell unexpectedly by 1.4% last month as a lifting of lockdown restrictions encouraged spending in restaurants rather than shops, with food stores suffering the biggest hit.
Persons: Toby Melville, Morgan Stanley, James Smith, Devik Jain, Subhranshu Sahu Organizations: London Stock Exchange Group, City of, REUTERS, Rotork, BP, Royal, Shell, Tesco, Sainsbury, Morrisons, ING, U.S, U.S . Federal, Bank of England's, Ryanair, Wizz, HSBC, Aegon, Thomson Locations: City, City of London, Britain, U.S ., Bengaluru
Miners drag FTSE 100 from 16-month highs
  + stars: | 2021-06-17 | by ( Devik Jain | Amal S | ) www.reuters.com sentiment -1.00   time to read: +2 min
(Reuters) - Miners knocked London’s FTSE 100 index off 16-month highs on Thursday as a hawkish turn by the U.S. Federal Reserve hit commodity prices, although Britain’s plans to ease travel restrictions allowed airline shares to buck the trend. FILE PHOTO: A man walks through the lobby of the London Stock Exchange in London, Britain August 25, 2015. REUTERS/Suzanne Plunkett/File photoThe blue-chip index ended 0.4% down, snapping its five-day winning streak and marked its biggest percentage fall in two weeks. Base and precious metal miners slid 3.0% and 3.5% respectively, as commodity prices slipped after the Fed signalled it could raise rates earlier than expected. Trainline climbed 5.1% after the rail operator’s group net ticket sales hit the highest since the start of the pandemic.
Persons: Suzanne Plunkett, , Danni Hewson, AJ Bell, won’t, Martens, IAG, Whitbread, Trainline Organizations: Reuters, Miners, U.S . Federal Reserve, London Stock Exchange, REUTERS, BP, Royal, Shell, COVID, Wizz Air, British Airways, EasyJet Plc, Ryanair Holdings, TUI AG, InterContinental Hotels Group PLC Locations: London, Britain
Fintech firm Wise announces plans for direct listing in London
  + stars: | 2021-06-17 | by ( Reuters Staff | ) www.reuters.com + 1.00   time to read: 1 min
LONDON, June 17 (Reuters) - British fintech firm Wise said on Thursday it will go public in London in what will be the first direct listing of a technology company on the London Stock Exchange. The payments app, formerly known as TransferWise, said it has been profitable since 2017, with a 54% revenue growth rate over last three years reaching 421 million pounds in overall revenues in 2021. Goldman Sachs and Morgan Stanley are working on the listing. (Reporting By Pamela Barbaglia Editing by Rachel Armstrong)
Persons: Wise, Goldman Sachs, Morgan Stanley, Pamela Barbaglia, Rachel Armstrong Organizations: London Stock Exchange Locations: London
U.K. Fintech Wise to Go Public in London Direct Listing
  + stars: | 2021-06-17 | by ( Simon Clark | Ben Dummett | ) www.wsj.com sentiment -0.99   time to read: +1 min
Wise, an online money-transfer service, kicked off plans to list on the London Stock Exchange , taking advantage of surging investor interest in financial technology companies. More than 10 million customers use Wise’s money-transfer service. It aims to make it easier and cheaper to move money across borders and into different currencies than with a bank. “We were both sick of losing money to our banks,” Mr. Käärmann told journalists Thursday about why he and Mr. Hinrikus started Wise in 2011. Wise charged an average price of 0.68% of the amount of money transferred in the first quarter of 2021. Credit cards and banks have traditionally charged several percentage points for similar transactions.
Persons: Wise, Taavet, Käärmann, Mr, Hinrikus Organizations: London Stock Exchange
LONDON — British financial technology firm Wise said Thursday it expects to go public on the London Stock Exchange through a direct listing. Wise, which was formerly known as TransferWise, said it was seeking a direct listing rather than an initial public offering. Direct listings allow firms to go public without raising any fresh capital. "Wise is used to challenging convention, and this listing is no exception," said Kristo Kaarmann, CEO and co-founder of Wise. A direct listing allows us a cheaper and more transparent way to broaden Wise's ownership, aligned with our mission."
Persons: Wise, Kristo Kaarmann Organizations: LONDON, London Stock Exchange, Britain Locations: London, New York
Fintech firm Wise to list directly on London's stock market
  + stars: | 2021-06-17 | by ( Pamela Barbaglia | ) www.reuters.com + 0.00   time to read: +2 min
The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File PhotoLONDON, June 17 (Reuters) - British fintech firm Wise said on Thursday it plans to go public in London in what will be the first direct listing of a technology company on the London Stock Exchange. The move comes amid tough market conditions in what has been a volatile year for stock market listings in Europe, with at least two initial public offerings (IPO) cancelled in recent weeks. In London, IPOs from Deliveroo and Alphawave both tanked on their stock market debuts, and are trading well below their listing prices. "Wise is used to challenging convention, and this listing is no exception," said co-founder and CEO Kristo Käärmann.
Persons: Toby Melville, Wise, Kristo Käärmann, Hinrikus, Goldman Sachs, Morgan Stanley, Pamela Barbaglia, Rachel Armstrong Organizations: London Stock Exchange Group, City of, REUTERS, London Stock Exchange, Käärmann, Deloitte, Skype, Barclays, Thomson Locations: City, City of London, Britain, London, British, Europe, Deliveroo, Estonian, United States
Miners drag FTSE 100 from 16-month highs; airlines soar
  + stars: | 2021-06-17 | by ( Devik Jain | ) www.reuters.com + 0.00   time to read: +2 min
REUTERS/Suzanne Plunkett/File photoSummary Whitbread tops FTSE 100 after signs of demand pick-upTrainline surges after higher group net ticket salesFTSE 100 down 0.3%, FTSE 250 off 0.4%June 17 (Reuters) - Miners knocked London's FTSE 100 index off 16-month highs on Thursday as a hawkish turn by the U.S. Federal Reserve hit commodity prices, although Britain's plans to ease travel restrictions allowed airline shares to buck the trend. The blue-chip index (.FTSE) fell 0.3% and was on track for its biggest percentage fall in two weeks. read moreLarge dollar-earning consumer staples companies Unilever (ULVR.L), Diageo (DGE.L) and Reckitt Benckiser Group (RKT.L) fell between 0.5% and 1%. Banks (.FTNMX301010), which tend to do well in a rising rate environment, were the biggest boost to the FTSE 100. read moreTrainline (TRNT.L) climbed 5.5% after the rail operator's group net ticket sales hit the highest since the start of the pandemic.
Persons: Suzanne Plunkett, Ipek, Banks, Martens, IAG, Whitbread, WTB.L, Devik Jain, Subhranshu Sahu Organizations: London Stock Exchange, REUTERS, Whitbread, FTSE, Miners, U.S . Federal Reserve, Unilever, Diageo, Swissquote Bank, Chartered, Barclays, HSBC Holdings, COVID, Wizz, British Airways, EasyJet, Ryanair Holdings, TUI AG, Thomson Locations: London, Britain, Bengaluru
Tech shares buck trend as Wall Street, bonds slide
  + stars: | 2021-06-16 | by ( Chris Prentice | Marc Jones | ) www.reuters.com + 0.00   time to read: +5 min
WASHINGTON/LONDON (Reuters) - Wall Street was broadly lower on Thursday and European shares fell for the first time in two weeks on hawkish signals from the U.S. Federal Reserve, even as U.S. technology stocks notched gains. The greenback touched a two-month high and 10-year U.S. Treasury yields - a key driver of global borrowing costs - consolidated their biggest rise since early March. Shares of Apple Inc, Microsoft Corp, Amazon.com Inc and Facebook Inc all shrugged off pre-market losses. He had described it as a “talking about talking about meeting,” a reference to his protestations earlier this year that the Fed was not even “talking about talking about” tighter policy. [O/R]Brent retreated 2 percent to last trade at $72.93 a barrel, while U.S. crude fell 1.8% to $70.86.
Persons: Toby Melville, Europe’s, , Chris Zaccarelli, Jerome Powell, JPMorgan, ” Pimco, , nonfarm payrolls, ” John Vail, Goldman Sachs, Agnès Belaisch, Powell, ” Belaisch, Brent Organizations: WASHINGTON, LONDON, U.S . Federal Reserve, London Stock Exchange, REUTERS, Fed, Treasury, U.S, Dow Jones, Apple Inc, Microsoft Corp, Amazon.com Inc, Facebook Inc, Independent, Charlotte , North Carolina . Markets, JPMorgan, Nikko Asset Management, Deutsche Bank, Barings Investment Institute Locations: London, Britain, Charlotte , North Carolina, U.S
The Dow Jones Industrial Average closed lower for a fourth straight session, down 0.62%, as the S&P 500 slipped 0.04%. Shares of Apple Inc, Microsoft Corp, Amazon.com Inc and Facebook Inc all shrugged off pre-market losses. REUTERS/Toby Melville/File PhotoTwo-year and five-year notes, the most sensitive to interest changes, saw the largest yield increases on the hawkish Fed move. He had described it as a “talking about talking about meeting,” a reference to his protestations earlier this year that the Fed was not even “talking about talking about” tighter policy. [O/R]Brent retreated 1.7% to $73.10 a barrel by 4:26 p.m. EDT (2026 GMT), while U.S. crude fell 1.64% to $70.76.
Persons: Europe’s, , Chris Zaccarelli, Toby Melville, Jerome Powell, JPMorgan, ” Pimco, , nonfarm payrolls, ” John Vail, Goldman Sachs, Agnès Belaisch, Powell, ” Belaisch, Brent Organizations: WASHINGTON, LONDON, U.S . Federal Reserve, U.S, Fed, Dow Jones, Nasdaq, Apple Inc, Microsoft Corp, Amazon.com Inc, Facebook Inc, Independent, London Stock Exchange, REUTERS, JPMorgan, Nikko Asset Management, Deutsche Bank, Barings Investment Institute Locations: Charlotte , North Carolina, London, Britain, U.S
LONDON (Reuters) - Fusion Acquisition CEO John James is in talks to launch a new blank-check company which could list in London in the coming weeks with the aim of becoming the first to take advantage of a new British SPAC regime, sources told Reuters. FILE PHOTO: A worker shelters from the rain under a Union Flag umbrella as he passes the London Stock Exchange in London, Britain, October 1, 2008. REUTERS/Toby Melville/File PhotoJames, who runs two Nasdaq-listed SPACs (special purpose acquisition companies) -- Fusion Acquisition Corp and Fusion Acquisition Corp II -- is working with JPMorgan on a third Fusion investment platform, the sources said. Fusion, James and Ross were not immediately available for comment. Fusion Acquisition II raised $435 million on Feb. 26.
Persons: John James, Toby Melville, James, Jim Ross, Ross, scrambles Organizations: London Stock Exchange, REUTERS, Nasdaq, Corp, Fusion, JPMorgan, Investors, MoneyLion, SEC, SPACs Locations: London, British, Britain, Amsterdam, Europe, Singapore, United States
A worker shelters from the rain under a Union Flag umbrella as he passes the London Stock Exchange in London, Britain, October 1, 2008. James, who runs two Nasdaq-listed SPACs (special purpose acquisition companies) -- Fusion Acquisition Corp and Fusion Acquisition Corp II -- is working with JPMorgan (JPM.N) on a third Fusion investment platform, the sources said. Fusion, James and Ross were not immediately available for comment. Fusion's choice of London comes as post-Brexit Britain scrambles to make the capital more competitive in one of the hottest areas in finance. Fusion Acquisition II raised $435 million on Feb. 26.
Persons: Toby Melville, John James, James, Jim Ross, Ross, scrambles, Pamela Barbaglia, Alexander Smith Organizations: London Stock Exchange, REUTERS, Nasdaq, Corp, Fusion, JPMorgan, Investors, MoneyLion, SEC, SPACs, Thomson Locations: London, Britain, British, Amsterdam, Europe, Singapore, United States
Defensive, industrial stocks boost FTSE 100 as economy runs hot
  + stars: | 2021-06-16 | by ( Amal S | ) www.reuters.com + 0.00   time to read: +2 min
A sign displays the crest and name of the London Stock Exchange in London, Britain August 15, 2017. After touching its highest level since February 2020 at 7,217.5, the blue-chip index (.FTSE) end 0.2% higher at 7,184.95. Industrials (.FTNMX502050), travel (.FTNMX303010) and pharmaceuticals (.FTNMX201030) provided the biggest boost to the index. The domestically focused mid-cap FTSE 250 index (.FTMC) fell 0.1%. The FTSE 100 and the FTSE 250 have oscillated in a narrow range since mid-April on worries that a COVID-19 resurgence might crimp the recovery, while rapid economic growth could lead to higher inflation and prompt central banks to pare their support.
Persons: Neil Hall, BoE, Edward Moya, Moya, Devik Jain, Subhranshu Sahu Organizations: London Stock Exchange, REUTERS, Bank of England's, Oanda, Global, U.S, Energy, BP, Royal, Shell, Thomson Locations: London, Britain, U.S . Federal, pare, Bengaluru
Made.com shares fall 7% after completing London IPO
  + stars: | 2021-06-16 | by ( ) www.reuters.com sentiment -1.00   time to read: 1 min
The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File PhotoLONDON, June 16 (Reuters) - Shares in online furniture retailer Made.com (MADE.L) fell 7% on its stock market debut after the company completed a London initial public offering that valued it at 826 million pounds ($1.17 billion). Earlier, the company said it had priced the deal at 200 pence per share, the bottom of a previously announced price range. At this rate, the company is raising 194 million pounds while shareholders sold a further 223 million pounds of shares. ($1 = 0.7086 pounds)Reporting by Abhinav Ramnarayan; editing by Thyagaraju AdinarayanOur Standards: The Thomson Reuters Trust Principles.
Persons: Toby Melville, Abhinav, Thyagaraju Organizations: London Stock Exchange Group, City of, REUTERS, Thomson Locations: City, City of London, Britain
Financials, energy stocks boost FTSE 100 as economy runs hot
  + stars: | 2021-06-16 | by ( Devik Jain | ) www.reuters.com + 0.00   time to read: +2 min
A sign displays the crest and name of the London Stock Exchange in London, Britain August 15, 2017. The blue-chip index (.FTSE) rose 0.3% to its highest since February 2020. Life insurers (.FTNMX303010), banks (.FTNMX301010) and industrials (.FTNMX502050) provided the biggest boost to the index. The domestically focused mid-cap FTSE 250 index (.FTMC) advanced 0.4%. The FTSE 100 and the FTSE 250 have oscillated in a narrow range since mid-April on worries that a COVID-19 resurgence might crimp the recovery, while rapid economic growth could lead to higher inflation, prompting central banks to pare their support.
Persons: Neil Hall, BoE, Ambrose Crofton, Devik Jain, Subhranshu Sahu Organizations: London Stock Exchange, REUTERS, Perimeter Solutions, Bank of, BP, Royal, Shell, Morgan Asset Management, U.S, ING, EverArc Holdings, Solutions, Thomson Locations: London, Britain, U.S . Federal, hawkishness, pare, Bengaluru
LSE calls on EU not to be protectionist over euro clearing
  + stars: | 2021-06-15 | by ( ) www.reuters.com + 0.97   time to read: +1 min
CEO of London Stock Exchange Group David Schwimmer speaks during an event to launch the private finance agenda for the 2020 United Nations Climate Change Conference (COP26) at Guildhall in London, Britain, February 27, 2020. Tolga Akmen/Pool via REUTERS//File PhotoThe European Union should allow its banks to continue clearing euro derivatives in London and avoid being "protectionist" in financial markets, London Stock Exchange Chief Executive David Schwimmer said on Tuesday. Britain's full departure from the EU has largely severed the City of London's ties with the bloc, and EU permission for the London Stock Exchange to keep clearing euro derivatives for EU customers expires in June next year. "I think it's critically important for the EU to remain open and to resist the protectionist temptation," Schwimmer told a European Financial Services conference. EU firms should be able to access the same liquidity, services, data and technology capabilities as their peers in respect to clearing, Schwimmer said.
Persons: David Schwimmer, Tolga, Britain's, Schwimmer Organizations: London Stock Exchange, Change, Guildhall, REUTERS, EU, Deutsche, European Financial Services, Thomson Locations: London, Britain, Frankfurt
Britain urges EU to 'expedite' financial services talks
  + stars: | 2021-06-15 | by ( Huw Jones | ) www.reuters.com + 0.00   time to read: +3 min
Tolga Akmen/Pool via REUTERS//File PhotoBritain's finance ministry has called on the European Union to open talks on financial services after the London Stock Exchange urged the bloc to avoid a retreat into protectionism. Britain left the EU in December, largely cutting off the City of London's financial services centre from the bloc. A pressing issue for Britain is that EU permission for the London Stock Exchange to keep clearing euro derivatives for EU customers expires in June next year, potentially fragmenting a major market. The EU wants to directly supervise euro clearing and bolster its "strategic autonomy" to avoid reliance on the City in financial services. "I think it's critically important for the EU to remain open and to resist the protectionist temptation," London Stock Exchange Chief Executive David Schwimmer told a separate European Financial Services conference.
Persons: David Schwimmer, Tolga, Banks, Katharine Braddick, Schwimmer, Braddick Organizations: London Stock Exchange, Change, Guildhall, REUTERS, European Union, EU, European Commission, Britain, Deutsche, City, Financial Services, Thomson Locations: London, Britain, Europe, Frankfurt
(Reuters) - London’s FTSE 100 equity index ended higher on Tuesday, lifted by gains in consumer staples and energy stocks, although a delay in lifting remaining COVID-19 restrictions in England curbed sentiment across the overall market. Dollar-earning consumer staples stocks, including Unilever, Reckitt Benckiser Group, British American Tobacco and Diageo Plc gained between 0.58% and 1.77%, on the weaker pound. Energy stocks gained 0.32% as oil majors including BP and Royal Dutch Shell gained 0.7% and 1.8% respectively, tracking crude prices. Prime Minister Boris Johnson pushed back plans to lift most remaining COVID-19 restrictions to July 19, citing the rapid spread of the more infectious Delta variant. There was good news however on the jobs front, as the number of employees on British company payrolls surged by a record 197,000 in May as COVID-19 restrictions eased, tax data showed.
Persons: Peter Nicholls, Boris Johnson, payrolls, , Russ Mould, AJ Bell Organizations: Reuters, London Stock Exchange, REUTERS, Unilever, Reckitt, British American Tobacco, Diageo, Energy, BP, Royal Dutch Shell, Entertainment, Entain Plc, U.S . Federal, Federal Reserve, Boohoo, Finance Locations: England, London, Britain
REUTERS/Peter Nicholls/File photoLondon's FTSE 100 equity index edged higher on Tuesday, lifted by gains in consumer staples and industrial stocks, although a delay in lifting of remaining COVID-19 restrictions in England curbed sentiment across the overall market. The blue-chip index (.FTSE) rose 0.3%, with large dollar earning companies including Diageo (DGE.L), Unilever (ULVR.L) and British American Tobacco (BATS.L) providing the biggest boost. Industrials (.FTNMX502050), aero and defence (.FTNMX502010) stocks also climbed, with aero-engine maker Rolls Royce (RR.L) among the biggest gainers with a 2.2% rise. The domestically focused mid-cap FTSE 250 index (.FTMC) advanced 0.3%. Prime Minister Boris Johnson pushed back plans of lifting most remaining COVID-19 restrictions to July 19, citing the rapid spread of the more infectious Delta variant.
Persons: Peter Nicholls, Royce, Boris Johnson, payrolls, Laith Khalaf, AJ Bell, Khalaf Organizations: London Stock Exchange, REUTERS, Diageo, Unilever, British American Tobacco, Communications, Standard Finance, Thomson Locations: London, Britain, England
Financials, energy stocks boost FTSE 100 ahead of reopening decision
  + stars: | 2021-06-14 | by ( Devik Jain | ) www.reuters.com sentiment -0.99   time to read: +2 min
(Reuters) - London’s FTSE 100 index climbed on Monday, helped by gains in heavyweight financials and energy stocks, while investors awaited the government’s decision on whether it would delay England’s complete reopening from a third national lockdown. FILE PHOTO: A man shelters under an umbrella as he walks past the London Stock Exchange in London, Britain, August 24, 2015. REUTERS/Suzanne Plunkett/File PhotoThe blue-chip index rose 0.4%. The domestically focused mid-cap FTSE 250 index advanced 0.4%. Asian shares also rose as market participants expected the U.S. Federal Reserve to stick to its dovish mantra later this week.
Persons: Suzanne Plunkett, Shell, ” Paul Donovan, Boris Johnson, ” Donovan, SThree Organizations: Reuters, London Stock Exchange, REUTERS, BP, Royal Dutch Shell, U.S . Federal Reserve, UBS Global Wealth Management, Serco, ITV Locations: London, Britain, U.S, British
Energy stocks boost British shares ahead of reopening decision
  + stars: | 2021-06-14 | by ( Devik Jain | Amal S | ) www.reuters.com sentiment -1.00   time to read: +2 min
(Reuters) - British shares ended higher on Monday, helped by gains in heavyweight energy stocks, while investors awaited the government’s decision on whether it would delay England’s complete reopening from a third national lockdown. FILE PHOTO: A man shelters under an umbrella as he walks past the London Stock Exchange in London, Britain, August 24, 2015. Health minister Matt Hancock will update parliament at around 1930 GMT after Johnson addresses the public at a news conference. Travel-related stocks fell 1.4%, with International Consolidated Airlines, Compass Group, Just Eat Takeaway.com and InterContinental Hotels Group among the top decliners. Among stocks, outsourcer Serco Group jumped 4.6% after it raised its 2021 profit outlook.
Persons: Suzanne Plunkett, Boris Johnson, Matt Hancock, Johnson, , Keith Temperton, Russ Mould, AJ Bell Organizations: Reuters, London Stock Exchange, REUTERS, BP, Royal Dutch Shell, Forte Securities . Travel, International Consolidated Airlines, Compass Group, InterContinental Hotels Group, , Serco, ITV Locations: London, Britain, England, British
Shares in record-setting spree as Fed meeting looms
  + stars: | 2021-06-14 | by ( Thyagaraju Adinarayan | Alun John | ) www.reuters.com + 0.00   time to read: +3 min
With the yield now pinned below 1.5%, BofA expects the Fed to signal a dial back in stimulus by September. Abating worries about inflation helped U.S. and European shares scale new highs, with the pan-regional STOXX 600 rising 0.4%, its eighth straight day of gains. “We don’t expect inflation to prompt a premature tightening of monetary policy or to derail the equity rally,” Haefele added. The two-day Fed meeting starts on Tuesday, with a final statement published after the meeting closes on Wednesday. Retail sales and industrial production data due later on Tuesday could spark some modest dollar volatility, wrote analysts at CBA in a research note.
Persons: Neil Hall, BofA, Abating, , Mark Haefele, Haefele, Brent, bitcoin, Elon Musk, Tesla Organizations: Reuters, U.S, London Stock Exchange, REUTERS, Fed, UBS Global Wealth, Traders, ANZ, Nikkei, Group, Seven, CBA Locations: HONG KONG, U.S . Federal, London, Britain, EU, U.S, Asia, Pacific, Japan, Beijing, China, United States, Tehran, Iran
(Reuters) -Investors worldwide kept stocks close to record highs Tuesday, as they bet the U.S. Federal Reserve will resist a significant policy shift in the face of transitory inflation. With the yield now pinned below 1.5%, BofA expects the Fed to signal a dial back in stimulus by September. The central bank kicks off a two-day policy meeting Tuesday. Fed Chairman Jerome Powell will flesh out the Fed’s thinking with a news conference Wednesday after its latest policy statement. The dollar index rose 0.05 points or 0.06%, not far off the top of its recent range.
Persons: Neil Hall, BofA, , Hogan, Jerome Powell, Brent, bitcoin Organizations: Reuters, U.S . Federal, London Stock Exchange, REUTERS, Fed, Dow Jones, Nasdaq, U.S, Labor Department, Reserve, National Securities, Traders, Japan, Nikkei, Group, Seven Locations: London, Britain, U.S, EU, New York, Asia, Pacific, Beijing, China, United States, Tehran, Iran
Venture capital firm Seraphim Capital is, unusually, planning to IPO and aims to raise $211 million. A venture capital fund that focuses on space startups is going public, giving retail investors a potential shot at backing the next SpaceX. London-based Seraphim Capital is aiming to raise $211 million as part of plans to IPO in on the London Stock Exchange in the summer. Amazon and Blue Origin founder Jeff Bezos is one of a raft of high-profile entrepreneurs investing their private wealth into space tech. Private investment into the commercial space industry is booming more generally, reaching a record $8.9 billion last year, according to figures from Space Capital.
Persons: Elon Musk, Jeff Bezos, Richard Branson, James Bruegger, Seraphim, Seraphim Capital's, Isaiah J, Downing, Draper Esprit, Bruegger Organizations: Seraphim, Entrepreneurs, Elon, SpaceX, London Stock Exchange, Seraphim Capital, Space Investment Trust PLC, AST, Science, Reuters, Virgin Galactic, Origin, Space Capital, of America Locations: London
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