The currency is an environmental abomination and investors should be pleased the founder has said so
Elon Muskâs talent for publicity has saved Tesla a fortune in advertising. Photograph: Brendan Smialowski/AFP/Getty
Elon Muskâs talent for publicity has saved Tesla a fortune in advertising. Photograph: Brendan Smialowski/AFP/Getty
Thu 13 May 2021 14.31 EDT
Last modified on Thu 13 May 2021 15.23 EDT
Elon Musk moves in mysterious ways, so it would be foolish to assume that his new sceptical stance on bitcoin will last longer than his previous cheerleading. But he has now landed on the right spot: bitcoin is an environmental abomination.
FTSE 100 trimmed its losses as Wall Street sees strong gains after jobless claims
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FTSE 100 trimmed its losses as Wall Street sees strong gains after jobless claims
The UK s blue chip index cut losses, following US markets that are shrugging off inflation fears
FTSE 100 down 41 points
Dow up 1.3%
5.10pm: FTSE largely salvaged what was almost a severely negative day
The FTSE 100 ended 41 points lower, 0.6%, at 6,963 after falling as low as 6,823 earlier in the day.
Mining stocks were among the laggards due to weak iron ore price, according to media reports. Rio Tinto Group (LON:RIO) shares fell more than 4% to £6,304, and Anglo American PLC stock lost nearly 4.5% to £3,250.50.
Departing fund manager James Anderson has called on his successors to become more unreasonable and more distinctive as his fund recorded the highest annual shareholder return in its history.
Scottish Mortgage Investment Trust s net asset value (NAV) rose 111 per cent in the year to March 31, beating its strong performance in the periods following both the Global Financial Crisis and the Great Depression.
The rise was also almost three times that recorded by the FTSE-All World Index, the yardstick by which the fund measures its overall performance, over 370 per cent up on its level five years ago and 708 per cent higher over the last decade.
Slings and arrows? Yes, but shareholders are still sitting on an outrageous fortune , though Around 5% of SMIT s portfolio is invested in Amazon
April may be the cruellest month but May has been harsh on Scottish Mortgage Investment Trust PLC (LON:SMT).
The shares have fallen from about 1,260p at the end of April to around 1,090p now, which is a fall of 13.5%.
If you bought Scottish Mortgage Investment Trust (SMIT) shares at the beginning of the year around six quid, you are probably not too fussed and if you bought them five years ago at 250p my one question is, what’s the weather like in the Bahamas this time of year?