In December, Luxembourg's financial regulator the CSSF announced new rules around tax exemption and portfolio transparency for European active ETFs (exchange-traded funds). Along with Ireland, Luxembourg is one of the main domiciles for exchange-traded funds and since its rule change there have been a flurry of new products coming to market. Here we explain what an active ETF is, how it works,...

Defensives hold up in sell-offNew appetite for growth stocksBanks unable to shake off lossesAs the dust settles from the three-day 'Liberation Day'-inspired sell-off, the list of winners and losers makes for interesting reading.Not everything which held up during the market meltdown is being sold off, and not everything which racked up big losses is rebounding, unlike in previous recoveries,...

FTSE 100 down more than 3% at 7,763.65Defensive and utilities stocks hold steadyEntain and Taylor Wimpey 'winners'UK housebuilder Taylor Wimpey (TW.) and gambling firm Entain (ENT) bucked the trend by falling less than the blue-chip FTSE 100 index.Taylor Wimpey and other housebuilders were perhaps anticipating the possibility of the Bank of England cutting interest rates this year as...

Bad weather in Australia hits LNG Oil and gas prices under pressureShell failing to fire on all cylindersThe impact of Donald Trump's new tariffs on energy prices and a cut to LNG (liquefied natural gas) volumes and natural gas production guidance conspired to send shares in Shell (SHEL) sharply lower on 7 April.The FTSE 100 energy giant pinned the blame for the LNG output downgrade on the...

Stock markets across Europe endured another bruising day on Friday, with the FTSE 100 tumbling as investors fled riskier assets following China's retaliation to sweeping US tariffs.Trump on Wednesday announced his 'Liberation Day' by imposing levies on imports from around the world. The baseline was 10%, but certain trading partners received larger tariffs, including 34% duties against...

Helge Lund to step downSuccession process underwayCEO Auchincloss feeling the heatBP (BP.) shares cheapened 2.9% to 389p in early dealings after the oil major said chair Helge Lund will step down 'in due course', news that arrived just weeks after the FTSE 100 group announced a pivot away from green energy.London-headquartered BP has kick-started a succession process to select a new chair to...

Investors are getting conflicting signals when it comes to the future direction of oil prices, and this week's fall to three-month lows off the back of crude producers' cartel OPEC+'s decision to boost output is unlikely to be the end of the story.The introduction of tariffs on neighbouring countries by the Trump administration could stoke inflation, which would typically be reflected in...

Part of being a successful leader of a public company is managing expectations ? setting achievable targets which you can tick off and, by doing so, build credibility with the market.The under-pressure boss of oil and gas outfit BP (BP.) Murray Auchincloss will have been aware he needed to make a splash during a big strategy event on 26 February but telling the Financial Times he wants to get...

Hotter-than expected UK inflation for January, with headline CPI up 3% year-on-year versus the 2.8% expected, combined with a volatile geopolitical backdrop, means investors should be seeking ways to protect their income.Shares has long championed the unique advantage investment trusts have when it comes to paying regular and progressive dividends, since these funds are able to hold back up to...

London stocks closed in the green on Wednesday, boosted by gains in the banking sector, despite investors' disappointment as BP announced a reduced buyback programme.The FTSE 100 index closed up 62.79 points, 0.7%, at 8,731.46. The FTSE 250 ended up 147.62 points, 0.7%, at 20,595.90, while the AIM All-Share closed up 3.44 points, 0.5%, at 711.50.The Cboe UK 100 ended up 0.9% at 874.86, the...

It already felt like a day of destiny, postponed so chief executive Murray Auchincloss could undergo an undisclosed medical procedure, but the stakes have been raised ahead of BP's (BP.) strategy day on 26 February.News US activist investor Elliott has joined the share register has got the share price moving in the right direction for the first time in a while, but has also ratcheted up the...

London stocks closed in the green on Monday, as US President Donald Trump's threats of 25% tariffs on steel and aluminium imports appear not to have phased investors.However, UK steel industry representatives have urged UK Prime Minister Keir Starmer to act to protect it from Trump's threatened levy, warning that the move would be a 'devastating blow'.The UK government is waiting to see...

European stocks traded higher on Monday, despite more US tariffs, while the FTSE 100 outperformed peers on a boost from BP.A report that an activist investor has picked up a stake in BP lifted the oil major. Gold hit a record high, boosting precious metal miners. News of another batch of US tariffs, this time in the aluminium and steel sectors, meant European stocks got off to a slow start to...

Auchincloss under pressureHedge fund expected to push for changeBoardroom shake-up, asset sales a possibilityBP (BP.) shares rallied 6% to a six-month high of 458.4p on reports feared activist Elliott Investment Management has built a stake in the oil major, which has underperformed rivals Shell (SHEL) and TotalEnergies (TTE:EPA) over the past five years.The US hedge fund's intervention stoked...

Stocks in Europe were higher at the start of the week, despite more tariff tit-for-tat threats, while BP jumped on a report that an activist investor has snapped up a stake.The FTSE 100 index traded up 32.66 points, 0.4%, at 8,733.19. The FTSE 250 was 109.67 points, 0.5%, at 20,917.51, and the AIM All-Share added 3.29 points, 0.5%, at 722.33.The Cboe UK 100 was up 0.4% at 874.86, the Cboe UK...

The market is alive with chatter about a mega-merger in the mining space after the revelation of a failed coupling between Rio Tinto (RIO) and Glencore (GLEN). That's understandable for several reasons, but recent history shows flirtations between corporate giants often go unconsummated.Having covered the oil and gas sector for nearly 20 years, I have seen the topic of a combination...

In just the first 20 days of 2025 the FTSE 100 index of blue-chip stocks has equaled its gains for the entirety of 2024, in the process closing at an all-time high of 8,505 points on 17 January.A better-than-expected inflation report for December together with weaker-than-expected retail sales for the same month appeared to open the door to faster Bank of England rate cuts, pushing the index...

Oil prices have hit a six-month high amid cold weather and new US sanctions on Russian sales of crude.This is not entirely bad news for the FTSE 100 given the heavy weighting of oil giants BP (BP.) and Shell (SHEL) in the index, but not for nothing is oil known as a tax on economic growth.Higher prices are likely to feed into higher inflation, which will only reinforce assumptions about...

London stocks ended mixed on Tuesday, the FTSE 250 outperforming its large-cap counterpart, enjoying its best day of the year so far as UK Chancellor Rachel Reeves looked to soothe bond market nerves.The FTSE 100 index ended down 22.65 points, 0.3%, at 8,201.54. The FTSE 250 added 47.90 points, 0.2%, at 19,766.27, but the AIM All-Share lost 1.58 points, 0.2%, at 707.81.The Cboe UK 100 was down...

Stock prices in London, Paris and Frankfurt were higher at midday Tuesday, with London's FTSE 100 up slightly despite oil major BP losing ground as it eyes lower production figures.Meanwhile in the UK, Chancellor Rachel Reeves will move to reassure turbulent markets amid high government borrowing costs as she faces a grilling from MPs later today.The UK chancellor will answer questions in the...