Buyer, beware: Bitcoin collecting could dig a hole in your pockets January 6, 2017 The rally in bitcoin over the past week, culminating in its rise to a three-year high yesterday, should provide vindication to policymakers in the UK over their approach to the cryptocurrency. For while other governments have adopted less-than-welcoming approaches to the technology, the UK was embracing it wholeheartedly. As bitcoin began to grab headlines in [...]
Renminbi continues two-day rally as China’s government steps in to limit capital outflows January 5, 2017 China’s currency continued its sharp two-day rally on Thursday as investors react to the prospect of tighter government controls on capital outflows announced at the end of last year. China’s renminbi has sharply jumped off lows approaching Rmb7 to the dollar as traders and businesses rush to secure the currency outside of the country. Renminbi has [...]
Happy housebuilders push FTSE 100 to yet another high January 5, 2017 The FTSE 100 hit yet another record high today, after it was pushed up by housebuilders following encouraging results from Persimmon. It's the second time this week the index has set an intraday record, having jumped to 7,205 points on Tuesday. However, sluggish trading caused it to slip back, and it finished just below 7,200 points, [...]
Oil prices lift as Saudi Arabia looks to bolster Opec deal with customer talks and US crude inventories have unexpected fall January 5, 2017 The price of the black stuff lifted more than one per cent today as Saudi Arabia started talks to support an Opec-led production cut and a report showed the amount of oil the US keeps in reserve fell last week. Global benchmark Brent crude was up 1.5 per cent, or $0.83, to $57.29 a barrel [...]
Three important investment lessons to take from 2016 January 5, 2017 Did anybody anywhere in the world put an accumulator bet on the UK voting to leave the European Union, Donald Trump winning the US presidential election and Leicester City winning the Premier League? The bookmakers believe not and you’d think they might have noticed – after all, these events were considered so unlikely that just [...]
Sparkling plan: Private equity owner of jewellery company Aurum considering stock market float as well as sale January 4, 2017 The London Stock Exchange could be be set for another jewel in its crown. The private equity owner of high-class jeweller Aurum Holdings, which is behind high street chain Goldsmiths, is considering options for floating the company. Apollo Global Management, which acquired the firm for a reported £180m in 2012, has appointed Jefferies bankers to [...]
Risk-filled 2017 drove gold investor sentiment to its highest level since 2012 last month, according to BullionVault January 4, 2017 Investor sentiment for gold hit its highest year-end level since 2012 at the end of last year, in anticipation of a risk-filled 2017, according to data from BullionVault. The metals trading platform's Gold Investor Index ended 2016 at 55.5, higher than the previous 12 months' average of 54.3 and comfortably above the 53.0 reading of December [...]
Investment banking fees plunged in 2016, but analysts predict 2017 pick-up January 4, 2017 Global investment banking fees fell seven per cent last year, with the UK’s plunging even further, thanks to a decline in flotations, equity raisings and mergers and acquisitions (M&A) activity. However, the decline was less marked in the second half of 2016, and analysts are predicting a recovery this year. Thomson Reuters found global investment banking [...]
Cashless era could leave bureaux de change out of pocket January 4, 2017 January is a time when many of us start to think about the summer and where we want to disappear to on holiday. And anyone looking ahead to an overseas vacation or a business trip will have to consider travel money at some point. But the way British consumers pay for things when abroad is changing [...]
The FTSE 100 has reached another record high January 3, 2017 The FTSE 100 smashed a new record as investors returned to their desks after the New Year break. London’s blue chip index briefly broke through the 7,200 points mark before paring to just below 7,180 points at the close – yet another record-breaking measure. It recorded a rise of over 60 points on Tuesday to peak at [...]