London Stock Exchange Group is weighing whether to launch 24-hour trading as bourses race to extend access to stocks amid growing demand from small investors active outside normal business hours.
According to the FT ▶️ 🔴 The group is looking into the practicalities of increasing its trading hours, according to people familiar with the situation, from the technology required to regulatory implications. 🔴LSEG is “absolutely looking at it, whether it means 24-hour trading or extended trading”, one of the people said, adding that the exchange group was “having important commercial, policy and regulatory discussions” about the “ongoing topic”. 🔴 Pioneered in the US, longer trading windows have become a hot topic among exchange groups as they seek to modernise, spurred by the rise of younger investors who trade on their smartphones. 🔴 The 24-hour nature of cryptocurrency markets, where volumes are booming, has also led bourses to consider extending hours.
The Coastal Journal on X highlighted one important item published out of WellsFargo quarterly earnings results: a • $188B repo surge 📈 (+34%) in just 90 days.
While Wells Fargo $WFC beat earnings estimates, the stock is down -5.5% after market Are liquidity cracks are forming beneath the surface?
UK ministers are to bring back consumer subsidies for some electric vehicles through a new scheme worth £650mn, as they try to boost sales of battery models that still lag government targets.
Households will receive a discount of up to £3,750 per vehicle when they buy a new electric car that is priced below £37,000, under a programme to be announced on Tuesday that will include £63mn of funding for charger installations. The former Conservative government scrapped direct purchase incentives for battery-driven models in 2022, arguing that the market had sufficiently matured. But the industry has repeatedly called for more financial assistance to encourage EV purchases. Source: FT
UK gilt yields have retraced a significant portion of Wednesday’s sharp widening.
This follows, and is in reaction to the Prime Minister’s strong public support for Rachel Reeves in last night’s interview with the BBC’s Nick Robinson. Source: Bloomberg, Mo El Erian
UK 30yr gilt yields soaaaaaaaaring
Source: Bloomberg, Mike Bird @Birdyword
Another Liz Truss Moment in the UK? 10y Gilt yields jump 16bps on doubts over Chancellor Reeves’s future.
The yield on 30y gilts rose >20bps past 5.4%. Source: Bloomberg, HolgerZ
Breaking news:
The UK and EU have agreed a historic post-Brexit reset of ties ahead of a summit in London on Monday, officials said - link to FT article >>> https://lnkd.in/ea6m_PnK The UK and EU have agreed a historic post-Brexit reset of relations after a “late breakthrough” in overnight talks ahead of a summit in London on Monday, officials on both sides said. The UK agreed to open its fishing waters for 12 more years to EU boats — a move that will be condemned by the opposition Conservatives — according to Brussels officials. In return, UK Prime Minister Sir Keir Starmer has secured a veterinary deal that will remove much red tape for British farming and fisheries exports to its biggest market, in a much-sought economic prize of the “reset” talks. Three EU diplomats confirmed Brussels had dropped demands to link the duration of the agrifood deal to the one for fish, while British officials confirmed that a deal on the two issues had been done. Both sides were locked in intense haggling through the night over key details of their revamped relationship, including on fisheries and food trade, along with wording about a proposed youth mobility scheme. Source: FT
Britons are being urged to stay home today between 11 a.m. and 3 p.m. because the temperature is set to reach... 24 to 26 degrees.
Isn't it too much?
