CRH – shares +9% as it looks to transition to a US primary listing in 2023. Fy results strong with revenues +12%, EBITDA +13% to $5.6bn and margins +10bps. The fact that world’s largest building materials company plans to abandon London for New York is a bitter blow for the former – just as it was revealed that Shell too thought about the move and Flutter looks to take a punt on the US. About three-quarters of earnings for CRH derive from North America.

Stock markets declined on Tuesday morning following on the heels of a wobbly session on Wall Street, with losses of around 0.5% for the broader European Stoxx 600. The FTSE 100 continues to chop in a sideways direction, trading just below 7,100 it is held firmly within the range of the last 6 months, whilst […]

Caution seemed the order of the day across markets early on Monday as China set itself one of the lowest gross domestic product targets in many years, hinting to investors that the big reopening boom may not be as positive for the global economy as hoped. Beijing set a target of around 5% growth this year, creating a relatively low bar for the regime to clear.

Cooler rates and broadly positive risk sentiment helped send the Nasdaq composite to a record high on Monday, whilst the tech sector lifted the broader market as the S&P 500 also notched a fresh all-time closing high. Mega tech names led the gains for the index, whilst financials were the biggest drag. European stock markets […]

It’s been quite a week, but we are not out the woods, albeit things look a fair bit calmer today than they did Wednesday. Volatility was well and truly back: the biggest moves in 2yr Treasury markets since 1987 and the MOVE bond volatility index hit its highest since 2008. The VIX rose to its highest since October. As a good barometer of the week, the VIXX earlier this week touched 28 but is back under 23 this morning. Expectations for the Fed next week have come full circle – some even talked about a cut amid the turmoil of Wednesday, but it looks as though they will stick to their guns at 25bps, taking the cue from the ECB.