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FTSE drops 8 Chinese groups from indices after Trump order

The index provider FTSE Russell said it would remove eight companies named by the US government as having ties to the Chinese military from some of its indices, after Donald Trump banned US investors from holding stakes in the businesses. FTSE Russell said the companies — which include China Railway …

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Bill Ackman’s Pershing Square promoted to UK’s FTSE 100

Bill Ackman’s London-listed investment vehicle will join the UK’s most high-profile stocks index after a year of strong returns fuelled by a well-timed bet that coronavirus would spark sweeping lockdowns and destabilise global markets. Pershing Square Holdings will be added to the FTSE 100 after the close of trade on …

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Snap AV: history doesn’t repeat . . . 

One of the easiest ways to spot someone who works in finance but hasn’t read much is they’ll often repeat the phrase “history doesn’t repeat itself, but it often rhymes” when discussing the market’s price action. Yet, like “all you need is love”, just because the phrase is a cliché …

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Airbnb looks to raise up to $2.5bn in IPO

Airbnb disclosed on Tuesday that it could raise as much as $2.5bn in its initial public offering, as it moves ahead with plans to list before Christmas, joining a crowded group of newcomers taking advantage of the record high in US stock markets. The home-rentals business set the price range …

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New exchanges bring ambition to reshape US equity market

Three new stock exchanges launched in September have begun to alter the shape of the world’s biggest equity market, challenging the trio of incumbents that dominate US share trading. Long Term Stock Exchange in San Francisco, Miax Pearl Equities in Miami and New Jersey-based Members Exchange, known as MEMX, all …

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Exchanges M&A returns as holding companies diversify

For the exchanges that run the world’s biggest and most critical financial markets, it has sometimes seemed this year’s pandemic has had little effect. In August, Intercontinental Exchange, the US trading, clearing and data provider, announced the $11bn purchase of mortgage software group Ellie Mae. The deal was not only …

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