Brexit concerns prompt market’s fear index to hit highest level in three months June 13, 2016 Wall Street’s CBOE Market Volatility Index (Vix) aka the Fear Index crossed the 19-level for the first time since 10 March thanks to jitters in the global market including Brexit concerns. Vix, a yardstick for measuring fear or volatility in financial markets, added 2.56 points or 15 per cent to 19.59. Factors that affected the index [...]
At the close: FTSE 100 sinks as Brexit fears send sterling to two month lows June 13, 2016 Resource stocks made up the majority of only a handful of risers on the FTSE 100 today as investors fretted over Brexit and sterling took a beating. The FTSE 100 closed at 6,044.97 – down 1.16 per cent on the day – and at its lowest level in three months. In March it was trading as low as 6,036, though had [...]
Opec keeps global oil demand forecast unchanged, sending the price of oil off its recent highs June 13, 2016 The one-time global oil cartel Opec (the Organization of the Petroleum Exporting Countries) has kept its forecasts for global oil supply and demand unchanged. The 13-member oil producing group reckons the second half of 2016 will continue to see oil markets rebalancing after the price of oil almost doubled in the first six months of the year – from [...]
EU referendum: Sterling and FTSE fall as Brexit fears weigh June 13, 2016 Brexit jitters have hit markets and sterling this morning with just 10 days until the UK goes to the polls. The FTSE 100 shed over one per cent as it opened before settling slightly near 0.5 per cent down. "Sliding bond yields, growth concerns and more opinion polls showing the Leave camp solidifying their lead in the [...]
UK Oil and Gas Investments’ share price leaps over six per cent – then falls back as firm buys further acreage in the Weald Basin June 13, 2016 UK Oil & Gas Investments (Ukog) has paid £3.5m to buy another licence in the Weald Basin, near Gatwick Airport. Shares in the company were up 6.35 per cent as trading began this morning, but have since fallen back and are currently down 1.11 per cent. Ukog previously announced it had discovered a massive amount of oil [...]
Meet the man behind the Uber of the exchange world June 13, 2016 In less than eight years, Bats Europe has gone from being a one-man operation in a Canada coffee shop to the largest stock exchange on the continent by market share and value traded. But despite its growth, the company’s chief executive – and first employee – Mark Hemsley still likes to emphasise its small business charm. “We’re not [...]
Asian stocks fall amid fears UK will vote to leave the European Union June 13, 2016 Financial markets are preparing for falls today after Asian stocks experienced the biggest intraday falls in over two months due to building worries that Britain may vote to leave the European Union in the upcoming referendum. The pound suffered when trading opened. Sterling fell to $1.4159 in early Asian trade, its weakest since April 18. There [...]
European banking shares skid lower as FTSE 100 sinks June 10, 2016 European banking shares finished sharply lower today, making their biggest intraday decline since the beginning of February. The Stoxx 600 Banks index finished 4.2 per cent lower, its biggest one-day fall since 11 February. It was pushed down by the likes of Deutsche Bank, which skidded 4.6 per cent to €14.06, and Credit Suisse, which fell 3.8 per cent [...]
120,000 UK jobs lost from the oil price crash June 10, 2016 Over 120,000 jobs are expected to have been lost between 2014 and the end of this year because of the severe hit inflicted on the UK oil industry from tumbling global prices. The strain of low oil prices has caused massive layoffs and cost-cutting across the sector and in related industries over the last 24 months. New employment figures released [...]
Magazine publisher ignores London IPO Time Out to target pre-referendum float June 9, 2016 Time Out magazine is planning to float on the alternative investment market (Aim) next week, with an initial public offering (IPO) valuing the company at £195m. The magazine publisher said it will issue 60m ordinary shares at 150p, raising £90m in gross proceeds. Liberum Capital is acting as Time Out’s nominated adviser and sole bookrunner. Read [...]
