|Day's range||7,117.15 - 7,214.23|
|52-week range||6,536.50 - 7,727.50|
Aug.16 -- The FTSE 100 and the FTSE 250 have reopened following other European indices higher. This comes after a delay of one hour and 40 minutes because of a glitch at the London Stock Exchange. Bloomberg’s Jan-Patrick Barnert reports on “Bloomberg Surveillance.”
Increasingly, top executives think carefully about their weight for health reasons. UK boards are helping them shed some pounds. Pay for bosses of Britain’s largest public companies fell more than a tenth to £3.4m on average last year, a five-year low, says Deloitte.
Median pay for a FTSE 100 chief executive was £3.4m in the last financial year, down from £4m in the previous period, according to a Deloitte analysis of filings in the latest season of annual general meetings.
(Bloomberg) -- The London Stock Exchange Group Plc suffered its longest glitch in 8 years, just weeks after the three-century old exchange unveiled plans to become a data and trading powerhouse.Shares in the key FTSE 100 and the FTSE 250 indexes resumed trading at about 9:40 a.m. after an outage that lasted about an hour and 40 minutes, according to a statement. Companies in those benchmarks include HSBC Holdings Plc, BP Plc, and AstraZeneca Plc. The LSE also suffered a one-hour trading delay in June 2018 caused by a software issue.Friday’s glitch comes as LSE agreed to snap up Refinitiv just weeks ago in a $27 billion blockbuster deal, betting on a future dominated by data. It also comes as investors are hit by rocky markets. The U.K.’s looming departure from the European Union, the U.S.-China trade dispute and concern about a recession are all causing price swings.The London snag also meant that traders who deal in related securities and index trackers were flying blind without prices for the underlying stocks.“The impact to us is quite large as we are FTSE index traders and the futures are open,” said John Moore, a trader at Berkeley Capital Wealth Management. Without seeing the underlying stock prices, it was difficult to know whether the futures price was “a true reflection of fair value on the FTSE.”The LSE blamed the outage on a “technical software issue,” according to a statement.Other global market exchanges have been hit with technical woes in the past few months. In the U.S., a technical error at exchange operator CME Group Inc. in February this year caused a trading halt of about three hours, preventing the buying and selling of contracts tied to U.S. Treasuries, stock futures and commodities.Apple Inc., Google parent Alphabet Inc. and other major stocks had a bizarre last few minutes of trading this week, as data glitches hampered U.S. markets for a second day.(Adds Refinitiv deal in third paragraph.)To contact the reporters on this story: Jan-Patrick Barnert in Frankfurt at firstname.lastname@example.org;Harry Wilson in London at email@example.comTo contact the editors responsible for this story: Ambereen Choudhury at firstname.lastname@example.org, Keith CampbellFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
A software glitch on the London Stock Exchange caused a nearly two-hour delay to the start of trading on Friday, in the most serious malfunction for the LSE in eight years. The outage affected securities listed on the FTSE 100 and 250, the two main UK stock indices, which track large and midsized companies worth about £2.3tn.
Energy analysts have estimated that is all it would cost, added to an average annual household energy bill of more than £1,200, to prevent the kind of power cuts that incapacitated large parts of England and Wales. The power cuts hit rail services alongside almost 1m homes and businesses, and are now the subject of a government investigation that is raising far reaching questions about National Grid’s ability to manage Britain’s electricity system.
Global stocks rebound as trade tensions thaw but the relief rally fizzled when the U.S. yield curve went into a full inversion. Recession fears are heightened around the world.
Kazakh mining group ENRC, which fell out of the FTSE 100 six years ago following fraud and corruption claims, has mounted fresh legal action against the Serious Fraud Office after the agency halted an internal inquiry into its own conduct in June. According to documents filed in the High Court this month, ENRC is seeking an order that would force the SFO to resurrect an independent inquiry into its handling of its case against the miner. It is also seeking a ruling that would protect it from criminal charges until the outcome of that review or the conclusion of a civil claim filed by ENRC.
The global markets are mixed as trade war conditions escalate and economic data is stronger than expected.
Barratt Developments chief executive David Thomas has sold almost £3.3m in shares in the group, to “balance personal investments”. Compass said the £2.87m share sale was made for “personal reasons”, adding that Mr Green still retains 191,382 shares, or around 0.012 per cent of issued share capital.
The major U.S. stock indexes are expected to open the cash market higher, based on the pre-market futures trade. Investors are shifting toward “risk-on” sentiment because of a stable yuan and firming U.S. Treasury yields. These two markets will influence prices all session.
Flutter, the UK bookmaker that owns Paddy Power and Betfair, is betting on success in the US as higher taxes and a clampdown in grey markets hit profits in other parts of its business. It could be the largest online betting market in the world,” said Peter Jackson, Flutter chief executive.
Rolls-Royce has revealed it has spent £100m preparing for a no-deal Brexit as the aero-engine group announced a further charge on its troubled Trent 1000 programme. Warren East, chief executive, said the FTSE 100 group had spent the extra funds building up inventory and arranging logistics in case of disruption if the UK crashes out of the EU at the end of October without an agreement. Rolls-Royce reported an extra charge of £100m over the next three years to cover additional costs on its Trent 1000 engine programme, which powers Boeing’s 787 Dreamliner, on top of the £1.5bn already earmarked.
Oil prices were trading down again Monday despite tensions in the Middle East. The latest market mover is not the tensions surrounding Iran, and it’s not outages in Libya and Venezuela but once again the trade war between China and the US
Global stocks go into a tailspin as the U.S./China trade war escalates, there is no hope for a deal at this time.
Geopolitics, economic data, and monetary policy take center stage. We can expect a choppy week ahead and that’s before Trump’s tweeting…
It was quite a week for the majors. A hawkish FED rate cut and Trump tweeting tested the majors on the week… A busy economic calendar was also in focus.
Global markets tank after Trump breaks the trade truce, 10% tariffs on $300 billion of Chinese goods go into effect September 1, 2019.