Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money

71% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

5 Top Stories

ExxonMobil Pivots to Lithium; National Spectrum Strategy; Wise’s Bumper Profits

Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.

Oil and Gas Giant Pivots to Lithium

ExxonMobil [XOM] on Monday announced that, starting in 2027, it is to begin producing lithium, with a view to becoming a player in the electric vehicle (EV) battery supply chain. The oil major said it had already begun work on its underground saltwater reservoirs in the US state of Arkansas, where it has bought rights to 120,000 acres of land.

US Opens Airwaves to Commercial 5G

The US government on Monday launched its National Spectrum Strategy, which calls for government agencies to work towards ceding space in telecommunications airwaves, so that commercial providers like AT&T [T] and Verizon [VZ] can meet demand for 5G. Lael Brainard, Director of the National Economic Council, told Bloomberg the plan allows for “more transparent, more coordinated” airwave management.

Wise Sees 280% Jump in Profit

UK fintech Wise [WPLCF] on Tuesday reported bumper half-year results. Revenue was at £498.2m, a 25% year-on-year jump, while before-tax profit was at £194.3m, a 280% jump. The firm mentioned higher interest rates as a tailwind in this regard. Elsewhere, crypto media group The Block has been valued at $70m in a sale to Singapore-based venture capital group Foresight Ventures.

New Financing for Rivian Plant in Georgia

On Monday Rivian [RIVN] announced that it is to raise nearly $15bn in debt to fund a manufacturing plant in the US state of Georgia. The EV maker has previously said that the plant would be commissioned by 2024 and put out 400,000 vehicles a year. The bonds will be issued by the Georgia Department of Economic Development and the Joint Development Authority of Jasper, Morgan, Newton and Walton Counties.

Tencent Music’s Modest Beat

Tuesday saw Tencent Music Entertainment [TME] report third quarter (Q3) results. Growth in paid subscriptions to its music streaming platform helped the company beat revenue estimates: revenue fell to RMB6.57bn, above analyst consensus of RMB6.31bn, according to LSEG, formerly Refinitiv. This comes despite a 24% revenue decline for the company’s social entertainment segment in Q2, following a Beijing crackdown on online gambling.

Disclaimer Past performance is not a reliable indicator of future results.

CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.

CMC Markets does not endorse or offer opinion on the trading strategies used by the author. Their trading strategies do not guarantee any return and CMC Markets shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein.

*Tax treatment depends on individual circumstances and can change or may differ in a jurisdiction other than the UK.

Continue reading for FREE

Latest articles