Cairn ploughs on in the North Sea January 17, 2017 Cairn Energy says it has the funds to fuel its projects through to production. The independent oil and gas explorer expects first oil from its Catcher and Kraken developments east of the Shetland Islands this year. The wells are expected to produce 25,000 barrels of oil equivalent per day. Simon Thomson, Chief Executive, Cairn Energy PLC said: “Cairn [...]
Sterling rockets as Theresa May reveals Parliament will vote on Brexit January 17, 2017 Sterling has shot up after Theresa May’s flagship speech on Brexit, as the Prime Minister announced there will be a vote in both house of Parliament on triggering Article 50. Chancellor Philip Hammond also announced the UK would be leaving the EU’s Single Market, which was then confirmed shortly afterwards in the Prime Minister’s speech. [...]
Gold is up ahead of Trump’s inauguration and May’s Brexit speech January 16, 2017 Gold prices were up 0.48 per cent in morning trading, rising above $1,200 per ounce as political uncertainty looms. Ahead of Donald Trump's inauguration this week, gold was trading at $1,201.90 per ounce, on course for its sixth straight session of gains, while the US dollar weakened, analysts at Accendo Markets said. Read more: Trump's golden flowering: [...]
The company behind the Airlander “flying bum” is planning to IPO in London January 16, 2017 The British company behind the world's biggest airship is planning to list on London's junior market. Hybrid Air Vehicles, the maker of the Airlander hybrid aircraft nicknamed the flying bum for its appearance, will seek to raise £50m with a float pencilled in for the end of 2017 or early 2018 on London's Alternative Investment Market. HAV [...]
Has the bond bull run’s bubble burst? Unpicking the Trump effect and other influences that will shape the bond market in 2017 January 16, 2017 The election of Donald Trump as US President shocked the world and shocked the world’s markets. Yet that early reaction quickly morphed into euphoria, as stock indices in America experienced huge inflows and hit record highs. For investors left high and dry as trillions of dollars drained from safer fixed income bonds into riskier equities, the [...]
Sterling falls below $1.20 as Pacific markets open following reports Theresa May will pursue hard Brexit January 15, 2017 The pound slumped more than one per cent to a three-month low this evening, on fresh concerns the government is preparing to pursue a hard Brexit. As market trading resumed in Australia and New Zealand, sterling fell by as much as 1.6 per cent to $1.1983, taking it below $1.20 for the first time since the [...]
Volatile sterling can’t stop FTSE set for second week of records January 13, 2017 The FTSE 100 looked set to round out a second week of record gains at lunchtime on Friday, as sterling performance wobbled in volatile trading. Sterling rose as high as $1.2233, but cable has since retreated to trade almost flat at the time of publication. Performance against the euro has fallen more steeply, with losses [...]
Out-of-depth traders among reasons for the seriousness of last year’s sterling flash crash January 13, 2017 The bank for central banks has today pointed the finger at inexperienced traders as one of the causes of last October's sterling flash crash. On 7 October last year, sterling plummeted around nine per cent against the US dollar in the early hours of trading in Asia, although it bounced part way back again quickly [...]
Turkish lira resumes its sell-off after brief rally on tightened liquidity from central bank January 13, 2017 The Turkish lira has suffered a fresh sell-off after briefly rallying against the dollar from record lows when the country’s central bank moved to tighten liquidity. The US dollar rose against the lira on Friday by over 1.5 per cent to over 3.8272 Turkish lira. The dollar had strengthened to record highs of 3.9415 Turkish [...]
Why banks could actually prove a less stressful part of your portfolio January 13, 2017 | City Talk Market consensus tells us the banking sector remains a risky place for investors to put their money. After all, the prevailing wisdom runs, banks are cyclical, poorly capitalised and in lousy shape for the next downturn, as and when it comes. Of course, as contrarian investors, we believe market consensus and prevailing wisdom primarily exist [...]
