Latest News

Always keeping you informed

Investment market update

Early Trading

UK stocks are expected to open flat this morning after the index returned back above 6,000.

World Markets

UK stocks advanced for a fourth day, rising higher with gains in oil and mining shares. Glencore Plc climbed 18% after saying it signed new loan commitments to replace an existing $8.45 billion revolving credit facility. Anglo American Plc gained 17%. Antofagasta Plc and BHP Billiton Plc added at least 7%.

US stocks rallied, led by rising commodity prices that helped metal and oil producers’ stocks climb. Both the S&P 500 and Dow Jones gained 1.6% and NASDAQ rose 2.2%.

Asian stocks climbed led by Japan, despite figures that showed exports had reduced for a fourth straight month. Rising oil prices were supporting investor sentiment together with better-than-forecast economic data from the US.

Headlines

Vodafone is looking to raise £2.9bn by issuing mandatory convertible bonds. The bonds will be issued in two tranches, one with a maturity of 18 months, and another with a maturity of three years. The coupon for the former is expected to be between 1.2-1.5% a year, and 1.7-2.0% a year for the latter.

Chinese consumer prices rose in January, an encouraging sign for the world’s second largest economy in a month characterised by turbulence in its financial markets. The consumer price index rose by 1.8% year-on-year in January, from 1.6% in December 2015. However, CPI continues to trail Beijing’s target of “around 3%“.

David Cameron’s bid to win backing for his EU reforms has reached ‘crunch time’, a UK government official says. The Prime Minister heads for a Brussels summit later hoping to agree a deal on changes that will pave the way for the UK’s in/out referendum. It follows months of negotiations between officials, with the PM visiting 20 member states to make his case.

back to news