Before the bell: What you need to know before the US market open June 15, 2016 Fed day is here chair Janet Yellen is unlikely to do anything that would surprise the markets. We'll have the decision at 7pm London time and then wait to hear from the lady herself at 7:30pm. Here's what you need to know before the market open at 14:30 London time. US futures are pointing up [...]
Goldman Sachs declares end to oil price recovery June 15, 2016 Goldman Sachs has dismissed what's been described by some analysts as a recovery in the global oil markets. The uber bear said it expects a "modest" deficit in the coming months due to current prices, before the market returns to surplus early next year. Rising demand, falling US oil output as well as supply disruptions [...]
What to look out for from the Federal Reserve’s interest rate decision this evening June 15, 2016 For a few brief hours this evening, markets will turn their attention away from next week's EU referedum. Eyes will drift across the pond, to the most powerful central banker in the world, Janet Yellen. Tonight the US Federal Reserve's rate-setting Federal Open Market Committee (FOMC) will update the market on its latest economic thinking and [...]
Rarer than a unicorn? This venture capital firm just floated in London June 15, 2016 Draper Esprit, the European firm which has backed startups such as LoveFilm, Graze and Lyst has made its stock market debut in a rare move for a venture capital firm.. With a dual listing on Aim and Ireland's Enterprise Securities market (ESM), shares on London's junior market were up as much as four per cent on the [...]
Hollywood Bowl strikes for £280m London IPO June 15, 2016 Hollywood Bowl Group, the UK's largest 10-pin bowling operator, will float on the London Stock Exchange next month in a deal valuing it at around £280m. The group, which runs 54 bowling centres around the country, has been striving to modernise the popular pastime with Americana-themed diners, licensed bars and interactive scoring systems that "customers didn't even know they wanted". Steve [...]
Record employment eases pre-referendum pressure on household finances June 15, 2016 Households' confidence in their own financial situation rebounded this month in the latest sign that uncertainty around the EU referendum does not appear to be weighing on the economy too heavily. The Markit household finances index, which measures how optimistic or pessimistic UK households feel jumped up from a 22-month low of 42.3 in May [...]
How the ONS single-handedly knocked £100,000 off the average UK house price in April June 15, 2016 Eagle-eyed house price watchers may have spotted something fishy about the official house price figures for April. Yep: in the figures, published yesterday, the average UK house price was almost £100,000 lower than last month – dropping from £292,000 in March to just £209,000 in April. Are those jitters over the EU referendum really having that bad an [...]
Unemployment rate hits lowest level for 11 years and wage growth holds up June 15, 2016 The unemployment rate has fallen to its lowest level in 11 years, as EU referendum fears and the introduction of the national living wage failed to hold back UK firms. Falling from 5.1 per cent last month to five per cent, the headline unemployment rate in the three months to the end of April was the [...]
Stocks and sterling show signs of life in mini-recovery after market rout June 15, 2016 Markets jumped in the first minutes of trading this morning and the pound rose against the dollar, clawing back some of yesterday's losses. The FTSE 100 climbed 0.8 per cent at the open, but was still below 6,000 points at 5,972 following yesterday's rout. Standard Chartered, Anglo American, Antofagasta, Glencore, Burberry and Tesco were the [...]
With 10-year German bunds now yielding less than nothing, are bond markets a disaster waiting to happen? June 15, 2016 Tim Price, manager of the VT Price Value Portfolio, says Yes. Almost certainly, yes. With 10-year German bond yields having turned negative, there is now $11 trillion worth of sovereign debt around the world that yields less than nothing. And yet there has never been more debt in the system. The word “madness” springs to mind. [...]
