Gold prices hit a seven-year high as traders fled to safe havens after the Iran crisis deepened following the assassination of commander Qassim Soleimani. The precious metal climbed to $1,585 an ounce, its highest level since April 2013, while oil rose above $70 a barrel for the first time since the September rocket attacks on Saudi Aramco facilities. European markets fell sharply at the open, before recovering later in the session as US traders struck a wait-and-see stance. Tensions between Washington and Tehran have escalated sharply since Mr Soleimani was killed by an airstrike in the early hours of Friday.
128,000 sq ft retail park is set to be converted into warehouses for online sellers in a landmark deal that underlines the changes sweeping the industry. Prologis, the world’s largest warehouse company, has bought Ravenside retail park for £51.4m from the investment manager M&G. The site in Edmonton, north London had been owned by an M&G property fund which has blocked withdrawals by investors after a stampede for the exits due to the crisis gripping the high street. Tenants include Mothercare, which is closing as part of a decision to shut all of its UK stores, as well as a 60,000 sq ft Wickes branch, Carpetright and Tapi Carpets.
Transport for London has confirmed fresh delays to Crossrail, the east-west train line that has already blown its budget by billions of pounds. Outgoing TfL commissioner Mike Brown confirmed the rail link – Europe’s biggest infrastructure project – will not start until September 2021. Crossrail was originally budgeted to cost £15.9bn. Current estimates of the final bill are £18.25bn. London Mayor Sadiq Khan had hoped to open Crossrail, known as the Elizabeth Line, in December 2018. However, a string of problems, in particular with the testing of signalling, has led to repeated delays.
Questor: easyJet (EZJ) clever use of data and ability to react to new challenges make it a buy. Questor share tip: the low-cost airline is exploiting pricing anomalies, cutting cancellations and choosing where it expands with care
