Today's financial news

FRIDAY 15th Sep

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Arm shoots for the stars whilst China reveals a hint of economic optimism

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Arm shares start with a bang

The much awaited, much spoken about IPO of Arm (ARM.F) kicked off yesterday, with share prices climbing nearly 25% in their first day of trading. And it’s not just big corporations and investment funds weighing in. Fidelity reported that it was their most traded stock for retail investors too. This optimistic first day should help to fuel the IPO market, even if it is relatively commonplace to see a burst of first day energy on the stock price. 

A hint of optimism from China

China revealed some key economic data yesterday, that showed retail sales and industrial output had climbed, exceeding analysts expectations, thanks to a healthy bit of summer holiday spending. It’s by no means seen as the beginning of a rally, but gives a glimpse of optimism to the sluggish economy. Markets in the region shot up on the back of the news, with the Hang Seng climbing 1.2% and the Australian ASX surging 1.75%. 

Uranium prices at 12 year highs 

The natural resource Uranium has leapt to 12 year highs as more and more governments eye nuclear power. Prices are still a long way off their 2011 high, when governments were paying around $73 per pound. The Fukushima disaster put a heavy stop to the desirability of nuclear and uranium, with prices now only just getting to around $65 per pound. Whilst it makes energy once again potentially more expensive, it is the quick, carbon free energy source that many governments are seeking. 

Sources: Bloomberg, IG, Financial Times, Nasdaq, Yahoo Finance

Zoe Burt