Donald Trump, Burberry and a £1bn property plan: Today’s City headlines

Global markets seesawed wildly on Wednesday in the wake of Donald Trump’s stunning US election win as traders attempted to second-guess the impact of the controversial new President-elect on shares, currencies and bonds.

US Election 2016: What does Donald Trump’s win mean for business?

US Election: Diary from the London trading floor.

Market report: Banks face worst of early Trump dump but construction stocks surge.

Drug shares rallied strongly on Wednesday on relief that the next American president will be Donald Trump and not Hillary Clinton.

Property expects on Wednesday predicted Donald Trump’s victory in the US election, could lead to an uptick in demand for London residential buildings.

Sainsbury’s chief executive Mike Coupe today defended the supermarket’s £1.4 billion takeover of Argos, saying he was “more confident than ever” that the deal would deliver much-needed growth.

Burberry looked out of fashion on Wednesday as the British design house failed to match the pace of its luxury rivals, posting falling sales and profits.

A turbulent trio of airline results flew in from Flybe, Wizz Air and Emirates today as carriers are battered by the bleak economic outlook and security fears.

Rio Tinto on Wednesday admitted it has suspended its head of energy and informed US and UK corporate authorities after discovering $10.5 million payments made to a consultant on a $20 billion project in Africa.

Entrepreneurs

Meet the Australian investment firm that wants to build a 2m sq ft property in London where Chinese companies can exhibit goods.

Comment

Anthony Hilton says no one can know what to expect from Donald Trump, so investors across the world are hedging their bets, looking for safety and running for cover.

Jim Armitage says “President Trump” might be utterly depressing on a human level, but for investors, it’s not half the catastrophe the economists and pundits predict.