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Markets Now – Thursday 6th August 2020

Things are mostly down and there’s a quite lot of news. Sterling, BOE, gold, the Turkish lira and whatnot are covered on the main site. On these pixels we’ll stick with the corporate stuff after a look at the mid-session scoreboards: Hammerson’s pressed the button on a £552m rights issue. That might seem not very much at a time when a company can raise 0m by proposing to fire Richard Branson into space, which is an actual thing that’s happening. But then, the second-quarter sunk costs for firing Richard Branson into space were only m whereas Hammerson booked a first-half loss of £1.1bn. Based on current burn rates Hammerson could fire ten Richard Bransons into space annually yet the company continues to run shopping centres, which challenges conventional theories about efficient

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Things are mostly down and there’s a quite lot of news. Sterling, BOE, gold, the Turkish lira...

FT Alphaville
FT Alphaville is a free daily news and commentary service giving finance professionals the information they need, when they need it. In a world where market professionals are inundated with information there is a pressing need to edit and filter, and hopefully sow a few ideas along the way. That’s where the FT Alphaville team comes in.

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