FT News Briefing Europe’s IPO boom, Bitcoin hits new record, China’s corn spree
Feb 12, 2021
The European IPO market has surged to its best start in five years, fueled by tech listings. Disney's streaming service welcomed 8 million new subscribers, pushing its total to nearly 150 million. In cryptocurrency news, Elon Musk's enthusiasm for digital currencies is stirring discussions about broader adoption. Meanwhile, China's unprecedented corn purchases are dramatically impacting global grain prices, marking a significant shift in agricultural markets.
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European IPO Boom
- European IPOs had a strong start in 2021, raising nearly €8.5B.
- E-commerce companies, benefiting from the pandemic, drove 70% of the equity sold.
Disney+ Growth vs. Pandemic Impact
- Disney+ added 8M subscribers in December, reaching 95M total.
- Pandemic-related hardships impacted theme parks and movies, but streaming growth offsets investor concerns.
Bitcoin's Rise
- Bitcoin hit a record high of over $48,000 after Tesla's $1.5B investment.
- MasterCard and BNY Mellon also announced new cryptocurrency services.