EU referendum: Economic scare stories are getting dangerous June 20, 2016 With just days to go until the country votes, and after a pause following the tragic and appalling events of last week, referendum campaigning has resumed. The Remain camp has been gaining ground, but its lead is not comfortable enough for David Cameron to sleep easily. Warnings about the potential impact of Brexit on the economy [...]
Week ahead: Volatile markets are forecast ahead of the referendum June 20, 2016 Recent wild swings in the FTSE 100 are expected to continue until the European Union referendum on Thursday as polls show the electorate evenly split on the decision. At last week’s close, the FTSE rose from a four-month low, up 1.2 per cent, to 6,021.09 points. It was, however, down 1.5 per cent for the week, [...]
EU referendum: Stock markets and currencies poised for unprecedented volatility before Brexit vote June 20, 2016 Financial markets are bracing themselves for one of the most volatile weeks of trading in living memory ahead of the EU referendum. Analysts said this week could unleash “chaos” on the stock markets, with volatility already sky-high and indexes across the world bouncing up and down on the slightest whiff of referendum news. Sterling, meanwhile, [...]
Nigeria finally drops dollar peg but will this revive the country’s fortunes? June 20, 2016 After several decades, Nigeria has finally abandoned its currency peg to the US dollar. Hampered by low global oil prices, the African economy has lost some lustre. But will a devaluation be enough to turn its fortunes around? The Central Bank of Nigeria’s decision to allow the naira to float freely has been welcomed by [...]
Hold on to your hats: Markets brace for referendum turmoil June 20, 2016 Financial markets are braced for one of the most volatile weeks of trading since the height of the financial crisis in 2008. As referendum campaigning resumes following its suspension after the horrific murder of MP Jo Cox last Thursday, analysts said this week could unleash “chaos” on already volatile stock markets. Ranko Berich, head of analysis [...]
Too close to call: New polls reveal EU divide as campaigning resumes June 19, 2016 The latest polling indicates Britain's decisio on EU membership is too close to call as campaigning resumed for the first time since the murder of MP Jo Cox. With just four days left until the country heads to the ballot box, several polls put the two sides neck and neck while Remain clawed back some of the gains [...]
EU referendum: IMF says an acrimonious Brexit would spark recession and permanently knock UK economy June 18, 2016 The economy could be plunged into recession, unemployment would jump and wages tumble if the UK votes to leave the European Union, the International Monetary Fund (IMF) has warned today. In its latest assessment of the dangers of walking away from the EU, the IMF said the consequences would be “negative and substantial” while household incomes would [...]
BP says natural gas overtakes coal as dominant US power source for the first time ever June 17, 2016 The world's largest economy burned more natural gas than coal for the first time ever last year. It coincides with a spate of bankruptcies within the embattled US coal industry, with embattled coal producers Peabody, Arch Coal, Patriot and Alpha Natural Resources all filing for bankruptcy in the last year. Spencer Dale, former Bank of England MPC [...]
At the close: Sterling stable and FTSE 100 fizzes June 17, 2016 Markets ended the day on the up as the moratorium in the EU referendum campaign allowed markets to compose themselves ahead of what is certain to be one of the most volatile weeks since the financial crisis. The FTSE 100 recovered some lost ground to close above the benchmark 6,000 point mark – but only just. [...]
Brexit fears prompt multi-million pound outflows from UK funds June 17, 2016 Rising Brexit fears prompted a huge outflow from UK equity funds in the week to Thursday. Data compiled by Bank of America shows that nervous investors withdrew $1.1bn (£769m) during this period, which marks the second largest outflows in the past decade behind last year's nail-biting General Election. Read more: No, Brexit won't hit house prices – [...]
