|Day's range||7,197.33 - 7,262.49|
|52-week range||6,536.50 - 7,727.50|
Almost all newspaper headlines about Centrica focus on its British Gas business: how many customers it has lost, and whether it can — or should — make a profit. “Customer exodus as Labour revives nationalisation threat”, read another. While Centrica has lost 107,000 old UK supply accounts since the end of June, it has added 243,000 in new technology-led services and home solutions accounts, such as heating maintenance and smart thermostats.
Investing.com -- China reacted angrily to the Senate's passing of a bill tying trade preferences to observation of Hong Kong's rights, pushing Asian and European stock markets lower overnight. There are earnings updates due early from Lowe's and Target (NYSE:TGT), while Alibaba (NYSE:BABA) has priced the world's biggest stock offering so far this year. Here's what you need to know in financial markets on Wednesday, 20th November.
Alistair Phillips-Davies, chief executive of the FTSE 100 utility, said the complexity and distraction of taking energy networks back into state ownership would also “significantly delay” changes needed to meet the UK’s 2050 net zero emissions target, such as rolling out sufficient electric vehicle charging. since the Labour Party first identified the industry as a nationalisation target in its 2017 election manifesto.
Research by the online parents’ portal found that only 38 companies across the FTSE 350 and just under a quarter those in the FTSE 100 were clear on their websites about the parental leave options for potential job hunters. — which would typically include how much paid leave workers can expect and at what levels of remuneration — could deter women from applying to work in these companies.
Hedge funds are circling Hargreaves Lansdown and St James’s Place, as two of Britain’s best-known financial services providers are scrutinised for their close association with scandal-hit fund manager Neil Woodford. Hargreaves and SJP, which combined act as investment intermediaries for nearly 2m UK savers, are among the most shorted companies in the FTSE 100, meaning that hedge funds and other investors have taken positions to benefit from falls in their share prices. Short sellers increased their bets against the pair in the immediate aftermath of the suspension of Mr Woodford’s Equity Income fund in June, and have since raised their negative positions.
While economic data will influence, Beijing and Washington will likely have the greatest impact on risk appetite in the week ahead.
Neil Woodford went from “the man who can’t stop making money” to unleashing Europe’s biggest fund management scandal for a decade. Thousands of column inches have been dedicated to dissecting the reasons behind Mr Woodford’s spectacular downfall since his flagship Equity Income fund was suspended in June. Stockopedia, the investment information provider, has crunched the numbers on Mr Woodford’s portfolio decision-making over the past five years.
Global markets edge higher on trade hopes but still no deal in sight, traders are warned to expect too much from the deal when and if it comes.
) highlights that the number of women on executive committees is the key to understanding the progress listed companies are making on getting more female leaders. In truth, we have seen no real change for the last 20 years on the number of women on executive committees. This chimes with the latest findings from the Hampton-Alexander Review which shows that women make up just 23.1 per cent of executive committees across the FTSE 100.
UK-listed companies are at risk of falling short of a government-backed target for at least a third of executive leadership positions to be filled by women by the end of next year. The Hampton-Alexander review found the proportion of women in the more than 20,000 senior leadership positions in FTSE 350 companies it monitors had increased this year to 28.6 per cent from 27 per cent in 2018. “There are over 900 women now serving on FTSE 350 boards, providing an ever-increasing pool of women with substantial board experience,” said Denise Wilson, the review’s chief executive.
European markets fell in morning trading after comments from President Donald Trump knocked previous optimism that the global trade picture was improving. Mr Trump threatened to escalate the trade war with China in a speech last night, and said US tariffs on Chinese goods would be “raised very substantially” if no truce was reached with officials in Beijing.
SSE has booked a £489.1m exceptional charge against its household energy supply business in Britain, which it is in the process of selling to rival Ovo, as the unit continued to lose customers in the first half of its financial year. The FTSE 100 company said SSE Energy Services, as the retail business is formally known, had total customers of 6.15m in Britain as of September 30, down from 6.48m at the same point in 2018. This is expected to occur early next year if UK competition authorities decide not to launch an in-depth investigation.
Boeing propelled the Dow to a record high, but US stocks were otherwise under pressure with investors still racked by uncertainty over trade talks and as political tensions in Hong Kong flared up. Activity on Wall Street was subdued owing to the Veterans Day holiday, with equities trading but the Treasury market closed. The S&P 500 fell 0.2 per cent, while the Nasdaq Composite eased 0.1 per cent lower coming off their record highs on Friday.
Investing.com -- The British pound surged on Monday as Brexit Party head Nigel Farage said his party won't contest any seats currently held by the Conservative Party at the general election on Dec. 12. The move increases the chances of the Conservative Party gaining a majority at the polls, and consequently implementing the EU withdrawal agreement secured last month by Prime Minister Boris Johnson.
Investing.com -- Hong Kong's police used live ammunition against protesters as disruptions to the Chinese trade hub worsen. Meanwhile, U.S. officials continue to play down hopes of a mutual tariff roll-back, Saudi Aramco publishes a 600-page IPO prospectus with no mention of price or volume, and Brexit slows the U.K. economy to a crawl. Here's what you need to know in financial markets on Monday, 11th November.
Investing.com -- The escalation of violence in Hong Kong over the weekend has cast a pall over European stock markets on Monday, reinforcing a “risk-off” move that was already underway thanks to comments from the U.S. playing down the chances of a mutual reduction in import tariffs with China.
It’s a big week for the markets. UK politics and trade are in focus on the geopolitical front, with the RBNZ also in action. Stats will also influence.