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Neelie
Verlinden

Market Analyst
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Funding Circle, Coinbase, GE: Top Trending Financial Tweets - Week 39

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09/28/2018 | 03:28pm CET

We’ve had yet another event-filled week drawing to a close. From Funding Circle's IPO, Coinbase's bundles and the Nikkei's 27-year high, to GE and Italy's deficit: here’s this week’s selection of top trending financial tweets.



#7 Funding Circle’s 1.5 billion GBP listing

Peer-to-peer lending platform Funding Circle made a positive market debut this week. The company’s IPO valued the British firm at no less than 1.5 billion GBP, CNBC reports. The listing is great news for the London Stock Exchange too, since the latter is trying to attract large tech firms.


#6 Italy continues to create tensions

Italian assets tumbled this week as populist leaders Matteo Salvini and Luigi Di Maio set a budget deficit target that that threatens the country’s financial stability, Bloomberg reports.

As a consequence, ten-year yields went up as much as 37 basis points to 3.26%, the biggest increase since May.


#5 Japan’s Nikkei hits 27-year high

On Friday, the Japanese Nikkei reached its highest level in 27 years on the back of a lower yen and better projections for corporate earnings, Reuters reports.

According to the same article, the Nikkei went up to 24 286.10 points, the strongest since 1991, on renewed optimism over the global economy and hopes of a boost in exporter’s earnings thanks to the weaker yen.


#4 Coinbase’s bundles

On Thursday, cryptocurrency exchange Coinbase announced that it is going to add a new feature called Coinbase Bundle to its offering, TechCrunch reports. Users will be able to buy a market-weighted sampling of five cryptocurrencies that are available on Coinbase: Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ethereum Classic.

According to the same TechCrunch article, the idea is that a bundle of coins offers users a starter pack for cryptocurrency trading on the platform with stakes of their choosing.


#3 Shoes on sale for $17 million

In Dubai (where else), a jeweler has put a pair of shoes encrusted with diamonds on sale for $17 million this week, Reuters TV reports. The shoes - a pair of golden pumps made of golden leather decorated with more than 100 carats of flawless diamonds set on white gold - are displayed on the top floor of the Burj Al Arab hotel.


#2 GE is worth less than $100 billion

A not so great week for American multinational GE. For the first time since the Great Recession in 2009, the conglomerate is worth less than $100 billion, CNN Money reports.

Declining profits and a rising debt have pushed GE’s shares down by 35% this year - only four S&P 500 companies have had a worse 2018 so far.


#1 The impact of a WhatsApp message

On Friday, the Indian company Infibeam Avenues Ltd. saw its market value tumble by 71% after a WhatsApp message raised concerns about the e-commerce company’s accounting practices, Bloomberg reports.

According to the same article, the WhatsApp message alleged - among other things - that Infibeam has given unsecured, interest-free loans to its units. The company’s stock fell as much as 73% and closed 71% lower at 58.45 rupees on Friday.



And that’s the last round-up of September all done. Of course, we’ll keep on top of the latest Tweets and we’ll continue to bring you the most trending financial micro-messages from the web. See you back here next week.


Source: www.scoopnest.com

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 0.95% 23892.07 Delayed Quote.-4.22%
NASDAQ 100 1.01% 6554.6097 Delayed Quote.0.81%
NASDAQ COMP. 0.96% 6846.1891 Delayed Quote.-2.17%
NIKKEI 225 -0.48% 21017.84 Real-time Quote.-5.53%
S&P 500 0.94% 2569.22 Delayed Quote.-4.77%

Neelie Verlinden
© MarketScreener.com 2018
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