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Market Buzz
28 Feb
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Market buzz: Tesco-Booker deal voted through, pound clobbered on Brexit

1559: Tesco and Booker Group shareholders have both voted through the supermarket giant's contentious £3. 7bn takeover of the country's leading wholesaler.

28 Feb
noticias
Wednesday newspaper round-up: Maplin, Toys R Us, Carillion, shop prices

More than 5,500 retail jobs are at risk as two of the high street’s best known names teeter on the edge of collapse. Toys R Us, with more than 3,000 staff, is set to go into administration in the next 24 hours, and 11th-hour rescue talks designed to shore up Maplin are also said to have broken down, meaning that the 200-store electronics chain also faces imminent bankruptcy. – Guardian.

27 Feb
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Market buzz: US consumer confidence at 2000 high, 'keep calm' on Italian election

1700: Ten-year US Treasury note yields have popped higher. Significantly, in response to a question from one of the Congressmen, Fed chair Powell stated that: "My personal outlook for the economy has strengthened since December. " 1640: Don't worry about the Italian election, says Citi, offering its "humble suggestion. to stop reading stuff (apart from this quick note of course) and quietly wait for March 5th". Analysts said they think that the combination of the technicalities of the Rosatellum along with the large number of undecided voters make historically already unreliable polls even less reliable.

27 Feb
noticias
Tuesday newspaper round-up: Brexit transition, energy price cap, Aston Martin, Carillion

A senior Conservative MP has criticised the government for failing to make progress on a transition deal to smooth Britain’s exit from the EU, warning that businesses could relocate jobs outside of the UK without urgent action. Nicky Morgan, the chair of the Commons Treasury select committee, said businesses were “crying out” for details of a proposed period to cushion Britain’s withdrawal from the EU from March 2019, calling on ministers to swiftly resolve their differences and reach a deal with Brussels or face damaging consequences.

26 Feb
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Market buzz: 'Human-mouse' sends stock flying, AA skids out of the 250

1702: London's top flight share index finished up 0. 62% at 7,289. 58 on Monday, while the pound edged lower by 0. 12% against the dollar to 1. 3951 and by 0. 13% against the European single currency to 1. 1346.

26 Feb
noticias
Monday newspaper round-up: GKN, Carillion, JPM, open banking

Political efforts to force the business secretary, Greg Clark , to intervene in the hostile takeover bid for industrial giant GKN have intensified with an accusation by Britain’s largest trade union that bosses of bidder Melrose support a hard Brexit that will damage manufacturing jobs. Research by Unite shows Melrose’s executive chair, Christopher Miller, and his wife, Monica, donated £37,500 to Vote Leave in the runup to the EU referendum while the vice-chair, David Roper, donated £20,000 – a pro-leave stance that the union says justifies blocking the£7.

25 Feb
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Sunday newspaper round-up: Interest rates, Brexit, RBS, Lloyds, O2 IPO

Signs of accelerating wage growth have convinced a deputy governor of the Bank of England that swifter rises in interest rates are needed. The change of heart for Sir Dave Ramsden, until now one of the doves on the Bank’s monetary policy committee (MPC), will add to a growing conviction in the City that a further increase to 0. 75% is coming in May. - Sunday Times .

23 Feb
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Market buzz: Stocks jump off lows ... led by defensives

1731: Interest rate sensitive stocks paced gains on the top flight index on Friday, with BT Group, United Utilities, Severn Trent, British America Tobacco and British Land at the top of the leaderboard. In the background, yields on longer-term Gilts were lower, tracking a fall in those for similarly-dated Treasuries on other side of the Atlantic. Triggering those moves was what some observers described as a less hawkish than expected monetary policy report to Congress from the Federal Reserve.

23 Feb
noticias
Friday newspaper round-up: Tech taxes, Brexit, Snapchat, Carillion

The Treasury is threatening digital companies such as Facebook and Google with a new tax, as it pushes for global agreement on a fairer system for ensuring digital businesses pay their way. The chancellor, Philip Hammond, is expected to use next month’s spring statement to announce the results of a consultation launched by the Treasury in November, on how to update the tax system to reflect the nature of online businesses. – Guardian.

22 Feb
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Market buzz: Bond yields dip, GDP cut hits pound, Stobart talk lifts Flybe

1644: The yield on the benchmark 10-year US Treasury note was down by four basis points to 2. 91% after hitting a high of 2. 96% during the previous session, while that on the two-year note is one basis point lower to 2. 25%. No immediate trigger for the move is apparent. The FTSE 100 lost 29 points or 0. 4% to finish Thursday's session at 7,252. 39.

22 Feb
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Thursday newspaper round-up: Brexit, wages, GKN, ITV, Apple

The Cabinet did not agree to Theresa May's negotiating strategy for the transition period after Brexit before it was sent to EU nations, senior ministers have told Telegraph. The official strategy document, which was published on Wednesday, prompted a furious backlash after raising the prospect of an open-ended transition period after Brexit. - Telegraph.

21 Feb
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Market buzz: Carney's inflation chat sends pound higher

1645: After starting in the red, the FTSE 100 has steadily strengthened as the session wore on. It finished at 7,281. 57, up 34. 8 points or 0. 48%. Here's a closing comment from market analyst Joshua Mahony at IG. "With a morning’s worth of disappointing eurozone PMI surveys, we have seen Carney’s inflation report testimony drag EURGBP lower despite today’s jump in UK unemployment. While Carney’s expectation of three rate rises over the next three years will grab the headlines, the fact that the bank aims to be ‘nimble’ given Brexit uncertainty points towards a strong chance we may never see all three hikes materialise should a preferential deal not be achieved.

21 Feb
noticias
Wednesday newspaper round-up: Heathrow, FCA chair, banks, Tesco

The true cost of Heathrow expansion is likely to be “grossly” higher than the £14. 3bn the airport has cited, airlines have told MPs, adding that transparency and guarantees should be supplied ahead of a crucial vote. Willie Walsh, chief executive of IAG, British Airways’ parent company and the main operator at Heathrow, said parliament should not trust Heathrow and said he had “zero confidence” that a third runway would be delivered on time and budget.

20 Feb
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Market buzz: FTSE 250 outshines sibling as HSBC weighs, look forward to Lloyds

1745: Tomorrow is a big, big day in the financial calendar - especially with respect to interest rate expectations on both sides of the Atlantic. In the morning we have crucial UK labour market data that could heat up or cool down anticipation of the Bank of England's rate-hike path for 2018. Later the FOMC minutes from the last policy meeting will be pounced upon by Wall Street for a close reading to spot any slight change in nuance over rates. In between we have initial Eurozone purchasing managers' surveys and as an entrée there will be a host of corporate results, inlcuding from Lloyds Banking Group, Glencore, Barratt Developments and Metro Bank.

20 Feb
noticias
Tuesday newspaper round-up: BHP activist, BT, Energean, Carillion

Two more shareholders in BHP Billiton have put pressure on the board of the FTSE 100 mining giant by urging it to consider dropping its dual listing, which Elliott Advisors, an activist investor, says is “obsolete and value destroying”. Baring Asset Management and Plato Investment Management, which control shares worth about $280 million, have asked BHP to set out why it believes the time is not right to consider simplifying its structure. - The Times.

19 Feb
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Monday newspaper round-up: House prices, Arcadia, Carillion, Brexit

The average price of a UK property coming on to the market has risen by more than £2,400 in a month to just over £300,000 amid evidence of “record” levels of house-hunting activity, according to Rightmove. The website, which tracks 90% of the UK property market, said the national average asking price for a home had increased by 0. 8% during the past month, following the 0. 7% rise it reported in mid-January. – Guardian.

16 Feb
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Market buzz: FTSE adds 200 points over week, dollar facing 'volatile weeks'

1635: The FTSE 100 closed 59. 89 points or 0. 83% higher at 7,294. 70 on Friday, adding 202. 5 or 2. 9% over the week. The pound is off it's lows from earlier in the afternoon, but still down 0. 3% against the dollar at 1. 4055 but up 0. 2% on the euro at 1. 1294.

16 Feb
noticias
Friday newspaper round-up: Tesco, homes, Brexit, internet tax

One of the City’s most influential shareholder advisory groups has told investors in Booker Group to vote against a proposed £3. 7 billion sale of the cash-and-carry business to Tesco. With just two weeks before a shareholder vote on the takeover, Institutional Shareholder Services (ISS) said that the recent uplift in Booker’s share price meant that Tesco “appears to be getting the better deal under the current terms”. - The Times.

15 Feb
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Market buzz: Bitcoin approaching $10K, US econ data 'unspectacular'

1500: Despite the recent more than havling in its price, Bitcoin is still out there (somewhere . probably), with prices edging back towards the $10,000 mark. "Volatility and bitcoin go together hand-in-hand, so expect plenty more highs and lows over the coming weeks and months," writes Dennis de Jong at UFX. Despite Berkshire Hathaway's Charles Munger dubing it "noxious poison", de Jong believes that won't stop investors from plunging their money in. As an aside, CBoE's VIX down 4.

15 Feb
noticias
Thursday newspaper round-up: Wages, sterling, Sky, food warning, Booker

Britain is set for a pay rise as the world economy lifts growth and falling migration makes it harder for companies to find cheap foreign labour. A report by the regional agents of the Bank of England suggests firms expect to give the average worker a 3. 1 per cent pay rise in 2018, compared to 2. 6 per cent last year, amid the strongest growth for a decade. - Daily Mail.