Oil prices shake off losses after strong US economic data July 15, 2016 Oil prices crept into positive territory this morning, as official data pointed to solid demand in the world's largest economy. The Commerce Department said retail sales growth accelerated in May. Meanwhile, a separate release showed inflation rose for the fourth consecutive month. Read more: Oil slide leads to call from RAC for savings on the forecourt This [...]
UK stocks in a post-Brexit world – industrials, healthcare and biotech can still do well, despite the weakening pound July 15, 2016 The UK’s decision to vote Leave sent share prices tumbling, and the more domestically-focused FTSE 250 has been left worst off. Mark Martin, manager of the Neptune UK Mid Cap fund, explains the areas he’s still finding attractive – and the ones he’s avoiding On the Friday after Brexit, the FTSE 250 mid-cap index had [...]
Why Brexit will be no problem for London’s IPO market in the long term July 15, 2016 The UK has a new captain. In the immediate aftermath of the referendum vote David Cameron said he was not the captain to steer the ship. In among the volatility in the markets and with sterling, some said HMS UK was listing. Many also thought it meant the backlog of IPOs, which had been held [...]
Airline and travel shares fall after Nice attack July 15, 2016 Airlines and travel stocks were among the FTSE 100's biggest fallers this morning, after a suspected terror attack in Nice which killed 84 people. EasyJet was the index's worst-performing stock in early trading, falling 2.3 per cent to 1,144p, while International Airlines Group, the parent company of British Airways, followed, falling 1.5 per cent to 419.3p. Travel stocks were also [...]
At the close: FTSE 100 gives up its gains after Bank of England puts rate rise on hold until August July 14, 2016 The Bank of England dashed market hopes of a further rate cut for at least another month today, sending the FTSE 100 off its 11-month highs. Having rallied to a peak of 6,743.42 before the Bank of England's decision, the FTSE 100 crashed to earth, closing down 0.2 per cent at 6,654.47 points. Most analysts thought the Bank would [...]
The biggest tech IPO of the year is here – and Line popped July 14, 2016 The biggest tech IPO of the year is here, as Line goes public in a dual listing on the Tokyo and New York stock exchanges. The Japanese messaging firm is the sixth most used messaging app in the world, boasting 218m users. Priced at $32.84, shares popped nearly 30 per cent, opening at $42 per share [...]
Gulf Keystone shares plummet as shareholders effectively wiped out July 14, 2016 Kurdish oil producer Gulf Keystone tumbled today after a desperately-needed funding agreement left shareholders with next to nothing. They will hold on to just five per cent of the company, with bondholders owning a majority stake. Read more: North Sea oil workers back strike action as tensions mount Its shares tanked as much as 44.04 per cent to [...]
Circle Oil secures breathing space as debt repayments loom July 14, 2016 Circle Oil was thrown a lifeline today, as it struggles with an increasingly uncertain financial situation. The oil explorer, which recently halted trading of its shares, said that the World Bank's International Finance Corporation (IFC) kicked back a revaluation of its current borrowing agreement. It also delayed any repayments due under that arrangement to 5 August. Read more: Circle Oil shares tumbles as it announces [...]
Before the bell: What you need to know before the US market open July 14, 2016 The Bank of England has kept interest rates on hold, stunning the market and sending the pound sharply upwards. Here's what you need to know ahead of the US market open at 2:30pm London time. US futures are pointing higher, signalling what could be another day of broken all-time-highs for indices. The S&P is up [...]
US shale lowest-cost option for future oil production July 14, 2016 The large underground deposits of shale gas in the US are the lowest-cost option for future oil output. About 60 per cent of production that's cost-effective with crude at $60 per barrel is in US shale, compared to about 20 per cent accessible by deep well drilling, according to energy consultancy Wood Mackenzie. Read more: North Sea oil [...]
