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 [...]
Bank of England chief economist Andy Haldane wants “muscular” easing to help economy post-Brexit vote July 15, 2016 The Bank of England's chief economist has said it must act "promptly as well as muscularly" to counteract the effects of Britain's vote to leave the European Union. In a speech delivered a week after the EU referendum, Andy Haldane said that Threadneedle Street should ease monetary policy to protect the economy and jobs. Read more: [...]
Eurozone pulls itself out of deflation in June – just July 15, 2016 The Eurozone definitely managed to heave itself out of deflation in June, its official statistics authority confirmed today – but only just. Figures published this morning by Eurostat confirmed inflation hit 0.1 per cent in June, up from minus 0.1 per cent in May. The figure was pushed up by inflation in restaurants and cafes, rents and tobacco [...]
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 [...]
Flood of stimulus underpins Chinese growth in second quarter July 15, 2016 Easy monetary policy helped the Chinese economy expand slightly faster than expected in the second quarter, data published today showed. Official data suggested gross domestic product grew 6.7 per cent between April and June from a year-ago, unchanged from the first quarter, and slightly ahead of market expectations of a dip to 6.6 per cent. Read more: The South [...]
Brexit: It’s early days, but UK business has been getting on with it July 15, 2016 It is less than three weeks since the British people voted to leave the EU. In that time, much of the media response has been verging on hysterical. The political establishment, City and even bookmakers simply did not see Leave coming. Figures who were top of their game a month ago have fallen on their swords: [...]
The Bank was right to hold rates – even a cut in August would be a shot in the dark July 15, 2016 Three weeks on from a dramatic referendum result, we have little hard information about how the economy is responding. There have been indications that business confidence and consumer confidence have been affected by the shock outcome. But there has also been a lot of political turbulence, and it is understandable that this has affected the consumer [...]
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 [...]
