GBPUSD: Momentum has turned bearish as the market tries to cling to the long term trend line. Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

London listings lowest in a decade Just £5.9 billion raised in 2019

Research carried out by EY and published by City AM this morning showed that over the last calendar year Initial Public Offerings on London’s Stock Exchange halved from 2018 to just 35 firms, from 79 and £9.5 billion. Similarly, Aim listings fell to 11 from 35 in 2018. Just over half of all 2019 IPOs were from private equity backed companies. Globally the number of IPOs was down 10 per cent to 1127 companies worth $202 billion.

As the New York Federal Reserve continues to lend billions in short term cash against top collateral, so too in China. Today the Peoples Bank of China extended 300 billion yuan in short and medium-term loans to prepare for the Lunar New Year holiday which starts on Saturday the 25th of this month. Interest rates were kept unchanged at 3.25 per cent. It also carried out 100 billion worth of 14-day reverse repos at 2.65 per cent to ‘’offset the impact from factors including tax payment and cash demand’’, CNBC reports.

Financial Markets and Political Commentary

 

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