At the close: Pound picks up and FTSE 100 falls down August 22, 2016 Sterling moved higher today as the shine came off the stock markets in afternoon trading. Today, 31 was the magic number for the pound. After flirting with setting a new 31-year low last week, the currency climbed back above what has become a crucial $1.31 barrier to stand at $1.3131 at pixel time against the greenback. The pound [...]
Investment bank issues warning about “dangerous” trend of shorting the fear index August 22, 2016 One of the world's top investment banks has warned that financial markets are entering "dangerous" territory as investors eye up increasingly exotic products in the search for returns. In a note to clients, entitled "dangerous yield chasing", the Bank of America Merrill Lynch (BoAML) today raised a "red flag" over the "worrisome trend" of investors selling [...]
Study shows low market volatility leads to banking crises August 22, 2016 Beware the calm before the storm. A new report has found periods of low volatility in the financial markets increase the chance of a banking crisis. Researchers from the London School of Economics (LSE), the University of Chile and the US Federal Reserve studied more than 200 years of economic history across 60 countries, finding spells of more predictable [...]
Aim-listed explorer Europa Oil & Gas finds up to 600m barrels of oil off Irish coast August 22, 2016 Aim-listed Europa Oil & Gas said today that one of its licences in the Atlantic basins, just off the coast of Ireland, potentially contains between 300m and 600m barrels of oil equivalent. Europa has a 100 per cent interest in, and is operator of, seven licences in the Atlantic basins offshore Ireland including LO 16/22, which covers [...]
Insulation firm Autins set for £26m Aim IPO August 22, 2016 Autins Group, a car insulation manufacturer that reduces noise from the engines of Bentleys and Range Rovers, will begin trading on London’s junior Alternative Investment Market (Aim) today. Autins has raised £26.6m through a placing of new and existing shares, giving the group a market capitalisation of around £37.1m. The group plans to use the [...]
Misys moves closer to London’s biggest float of 2016 by appointing City advisers August 21, 2016 Misys has appointed City advisers for what would be the biggest stock market float in London this year. The banking software developer, which is owned by US buyout firm Vista Equity Partners, is planning a £5.5bn initial public offering (IPO). Read more: Misys could return to the stock exchange City PM has confirmed a report that [...]
At the close: EasyJet brightens up drab day in the City August 19, 2016 It's August. It's raining. It's Friday. It was never going to be easy for the traders still at their desks to get going. And it showed, with the FTSE 100 yawning to a 0.2 per cent loss for the day, clocking off at 6,858. That was down slightly on the week after the bluechip index [...]
Sterling slides as nervy traders cash in August 19, 2016 The pound has tumbled against both the dollar and the euro this afternoon, dampening an otherwise strong week for the currency. After strong post-referendum inflation and retail sales figures had put some steam behind sterling on Wednesday and Thursday, traders started to reassess the dizzying heights of $1.31 and €1.16. Against the US dollar, the pound lost [...]
Oil bulls spooked as Brent Crude touches $51 a barrel August 19, 2016 The black stuff bull run has edged back in early morning trading, after oil prices hit a two-month high at the end of an impressive winning streak for the commodity. Brent Crude, the international benchmark, tipped past $51 a barrel overnight, before easing back to stand at $50.56 as the London markets opened and profit-taking kicked in. The [...]
Oil re-enters bull market as it shrugs off rising Saudi exports August 18, 2016 Oil thundered back into bull market territory today, despite rising exports from de facto Opec leader Saudi Arabia. Brent crude, the global benchmark, swelled 0.92 per cent to $50.31 per barrel on London's ICE Futures Exchange this afternoon. Its US counterpart, West Texas Intermediate crude, rose 1.75 per cent to $47.61. Both benchmarks are now up [...]
