Financial markets rocked as Leave campaign gains clout June 15, 2016 Financial markets were rocked yesterday as referendum jitters wiped around £30bn off the value of the UK’s top companies and sent investors fleeing for safe havens. The FTSE 100 crashed below the 6,000 mark, ending the day at 5,923 – its lowest finish since 24 February. The blue-chip index has now lost six per cent – [...]
IMF raises fresh alarm over Chinese debt time bomb June 14, 2016 Excessive Chinese borrowing is one of the most serious threats to the world economy, the International Monetary Fund (IMF) has declared, as it urged policymakers to press ahead with reforms. Concluding its annual health check of the world’s second biggest economy, the IMF said getting a grip of the debt problem — particularly in the [...]
At the close: £30bn wiped off FTSE 100 as Brexit fears mount June 14, 2016 Financial markets were plunged into turmoil today as the latest Brexit opinion polls sent investors running for the hills, wiping tens of billions off the value of the UK's leading companies. The FTSE 100 shed two per cent to end the day at 5,923.53 – its lowest close since 24 February – knocking roughly £30bn [...]
European Central Bank to do “whatever it takes” to limit turmoil following Brexit vote June 14, 2016 Europe's top central bankers are ready to announce they will do "whatever it takes" to contain the spillover of Brexit on the financial markets. The European Central Bank (ECB) is reportedly preparing to make a high-profile pledge on 24 June in the event that the UK votes to leave the EU to provide as much assistance as possible to [...]
North Sea to warn government subsea sector risks losing world-leading position June 14, 2016 North Sea oil and gas leaders will deliver a stark warning to the government tomorrow, saying that the subsea sector risks losing its world-leading position. Industry body Subsea UK is leading a delegation to tell Westminister what it must do to help the embattled sector, which focuses on the exploration, drilling and development of oil fields located [...]
The pound is feeling the pressure of the latest Brexit polls June 14, 2016 Sterling has continued its sharp decline this morning as another set of opinion polls showed the Leave side pulling ahead with just nine days to go until the EU referendum. The pound has lost 1.1 per cent against the US dollar so far today to stand at $1.4117 in early afternoon trading – a two-month low. It also fell against [...]
IEA says global oil markets appear to be balancing June 14, 2016 The International Energy Agency has joined the rising crescendo of voices which have said oil markets are moving towards balance. "At halfway in 2016, the oil market looks to be balancing," according to the IEA's widely watched monthly oil report released today. But this wasn't enough to lift investors' confidence, with oil prices staying below $50 per barrel. Read [...]
Before the bell: What you need to know before the US market open June 14, 2016 Brexit fears are dragging down markets and Germany's 10-year bond yield has turned negative. Here's what you need to know before the market open at 14:30 London time. US futures are pointing down again today, suggesting the bad start to the week is going to continue. The S&P is off by 0.22 per cent. The Nasdaq is 0.26 [...]
Time Out’s share price flops on London market debut June 14, 2016 Time Out Group, the 48-year-old city guide publisher turned food market owner, is not having the best start to its life as listed company. Shares fell as low as 133p, more than 10 per cent below its 150p flotation price, this morning. There was a slight up-lift directly after the open but it could not be [...]
Muted demand for extra sterling in Bank of England special auction June 14, 2016 UK lenders tapped up the Bank of England for an extra £2.5bn worth of cash in the first of a series of extra liquidity auctions ahead of the EU referendum. Threadneedle Street has added three extra rounds to its monthly bout of asset-swapping with UK banks, where it lets them get their hands on currency reserves [...]
