15 March 2021 | 12:01pm
StockMarketWire.com - The FTSE 100 lost some of its early momentum, only up 0.2% to 6,776.75 having earlier traded above the 6,800 mark.
US stimulus and better-than-expected Chinese data were catalysts but accompanying inflation worries continued to check the market s progress with European markets pretty flat.
Subprime lender Provident Financial plunged 27% to 190.3p after it revealed UK regulators were investigating its consumer credit division, focusing on the affordability and sustainability of lending practices.
Provident Financial said it was planning to spend up to $65 million addressing customer complaints in the division, which it said might be forced into liquidation if its plan was rejected.
15 March 2021 | 16:36pm
StockMarketWire.com - A lacklustre start to trading on Wall Street contributed to the FTSE 100 losing its way on Monday as its earlier gains were surrendered to see the index trade down 0.2% at 6,748.09 by the close.
Subprime lender Provident Financial plunged 27.4% to 190p after it revealed UK regulators were investigating its consumer credit division, focusing on the affordability and sustainability of lending practices.
Provident Financial said it was planning to spend up to $65 million addressing customer complaints in the division, which it said might be forced into liquidation if its plan was rejected.
Gambling company Flutter rallied 6.9% to £168.80 on confirming press speculation that it was mullling a US listing of its FanDuel business.
2 March 2021 | 16:36pm
StockMarketWire.com - Strength in the mining sector helped the FTSE 100 lead the pack on Tuesday, outstripping counterparts in the US and Europe. Its 0.4% gain to 6,613.75 comparing with a 0.5% decline in the S&P 500 by 4.30pm UK time.
Engineering group Renishaw rallied 18.7% to £68.85 after it put itself up for sale following a decision by founders and major shareholders David McMurtry and John Deer to sell their stakes in the company.
McMurtry and Deer, who were Renishaw s chairman and deputy chairman, respectively, owned about 53% of the company, including shares held by their connections.
Housebuilder Taylor Wimpey rose 0.2% to 166.9p even as it reported a 68% slump in annual profit after construction markets were hit by the Covid-19 pandemic and associated lockdowns.
March 1, 2021
Inflation fears showered the markets with sell-offs last week, but some analysts aren’t fretting. Investors still spooked by the possibility of rising inflation can turn to the
“Mad Money” host Jim Cramer saw the recent sell-offs as a general overreaction:
“The bond market sees the economy getting ready to reopen … and it figures the last thing we need is more stimulus,” said Cramer. “To these bond investors … that’s like throwing gasoline on the Kingsfords. They think the economy will overheat … [and that]we’re going to get some serious inflation.”
As fears of inflation permeated the markets, growth names received the brunt of the blow. In a meeting with the House and Senate, Federal Reserve Chair Jerome Powell remained steadfast in keeping rates low.