26th January 2013
1) Twitter’s prospective share price hits a staggering $9bn as the Telegraph reports. The micro-blogging firm has agreed a deal where fund manager Blackrock will buy the shares of some Twitter employees, giving it a rough stake of one per cent. That suggests a $9bn valuation. Nice if you hold shares at the moment, but prospective investors should remember they are going to be buyers not those lucky sellers or at least not yet.
2) The UK economy contracted by 0.3 per cent in the last quarter of 2012 though this could be subject to revisions. We can’t say if that makes a ratings downgrade or a triple dip inevitable. But Mindful Money economist Shaun Richards says its worse than it looks.
3) The stock market does not necessarily mirror the British economy as the stock market hit a four and half year high on Thursday.