Sterling slips back from $1.30 after John Bercow blocks Brexit vote October 21, 2019 Sterling dropped back from a six-month high against the dollar this afternoon after House of Commons speaker John Bercow refused to let the government put its deal to parliament for the second time in three days. Read more: Speaker Bercow could obstruct Boris Johnson’s bid for Brexit deal vote The pound opened around 0.6 per [...]
Is oil’s relationship with energy stocks slipping? October 21, 2019 | City Talk Our chart of the month shows that the link between energy stocks and oil appears to be on the slide. What’s happening? Typically, the US energy sector trades in tandem with oil prices. The sector is largely made up of household names like Exxon and Chevron, involved in exploration and production. They are known as [...]
Bank of England deputy suggests Brexit deal could see rates rise October 18, 2019 Deputy Bank of England governor Dave Ramsden has said he thinks gradually increasing interest rates could still be the right path if Britain achieves a smooth exit from the European Union. Read more: PM Johnson scrambles to save Brexit deal ahead of key Saturday vote Threadneedle Street has repeatedly struck a more hawkish tone than [...]
Can cryptocurrencies wean the world off the US dollar? October 17, 2019 | City Talk There has been a huge shift in the global economy over the past 60 years. The US is still one of the biggest economic forces around the globe, but its influence on the world stage has waned as emerging economies have developed. The US accounted for as much of 40 per cent of the world’s gross [...]
Pound reverses gains as DUP rejects Boris Johnson’s Brexit deal October 17, 2019 The pound has dramatically reversed course from this morning’s five-month high to trade flat against the dollar as optimism about a new Brexit deal has faded. Read more: Boris Johnson hails ‘great’ new deal Sterling rocketed over one per cent against the dollar this morning to the $1.29 level not seen since May after Prime [...]
Rathbone Brothers’ shares fall as it warns on tighter profit margin October 17, 2019 Shares in Rathbone Brothers fell sharply this morning after reporting its profit margin will narrow over the next two-to-three years. Shares in the investment management company were down 8 percent to 2,190p in the morning’s trading, despite an 11 per cent annual increase in third quarter operating income. Read more: Rathbone Brothers boosts profits but [...]
Administrator freezes another Woodford fund after bruising day October 16, 2019 The administrators of Neil Woodford’s money management empire have announced the suspension of another of his funds, the £253m Woodford Income Focus Fund, over fears customers will rush to withdraw their money. The move follows the resignation of Woodford as manager of the fund yesterday, a day when the formerly-lauded stockpicker shuttered his investment company [...]
Shares in Neil Woodford’s listed fund continue to fall after bruising day October 16, 2019 Shares in Neil Woodford’s investment trust have fallen again in early trading following a bruising day which saw the once-lauded fund manager’s empire collapse. Woodford was yesterday dismissed as the manager of his flagship Equity Income Fund (WEIF) and resigned from the Woodford Patient Capital Trust (WPCT) and Income Focus Fund. Read more: Woodford winds [...]
Sterling edges back as markets await outcome of Brexit talks October 16, 2019 Sterling has slipped against the dollar and euro as traders nervously wait to see whether Britain can secure a last-minute Brexit deal with the European Union. The pound was 0.12 per cent lower against the dollar by 8.10am UK time, buying $1.275. It had fallen 0.29 per cent against the euro to buy €1.154. Sterling [...]
How the wind-up of the Woodford fund will hit investors October 16, 2019 If the Neil Woodford scandal has been a slow-motion car crash, this must be the part where it finally hits the wall. Last night, it was announced that Woodford Investment Management will close. This followed news earlier in the day that the firm’s flagship Woodford fund would be wound up, putting an end to months [...]
