FT News Briefing cover image

FT News Briefing

Digital cash and culture wars

Sep 15, 2023
09:01
Snipd AI
Arm shares jump 25% on first day of trading, ECB raises interest rates to all-time high. Podcast explores digital cash in culture wars, European Central Bank's challenges of high inflation and reduced growth forecasts, concerns about privacy and anonymity in central bank digital currencies.
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Podcast summary created with Snipd AI

Quick takeaways

  • Shares in chip designer Arm jumped by 25% on its first day of trading, boosting confidence in the IPO market.
  • The European Central Bank raised interest rates to combat high inflation, but market reactions suggest investors believe rate increases may have reached their peak.

Deep dives

AUM's Successful IPO Signals Confidence in the Market

The British chip designer AUM experienced a successful initial public offering (IPO), with its shares jumping 25% on the first day, making it the largest U.S. listing in almost two years. This positive performance is expected to boost confidence in the IPO market overall, as upcoming listings for grocery delivery app Instacart and marketing software group Clavio are anticipated to test investor appetite.

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