Euro and pound get a Thanksgiving relief from the stronger dollar November 24, 2016 The euro is enjoying a small rally on as the US celebrates Thanksgiving, after it hit its lowest level since March 2015 against the US dollar, still riding high as investors continue to adjust in post-election market turmoil. The pound held off the dollar in Thursday’s trading to rally slightly back towards $1.25 while US traders are on holiday. [...]
Gold catches a bug as the dollar’s surge shows no sign of abating and Fed rate rise looks all but a certainty November 24, 2016 Gold has continued to fall this morning on the back of yet more highs for the US dollar, reaching lows not seen since February. The currency’s strength combined with strong US data and minutes from the Federal Reserve’s Open Markets Committee (FOMC) to send gold far below the $1200/oz level. In morning trading a small [...]
Stock market winners and losers after Autumn Statement: Estate agents hit after chancellor scraps letting fees November 23, 2016 Estate agents Foxtons, appear to have been the biggest losers from the Autumn Statement on the stock exchange today after chancellor Philip Hammond announced plans to scrap letting agents’ fees. Estate agents: losers Foxtons' share price fell 14 per cent to 105pon the day of the Autumn Statement. The estate agent’s shares were already down [...]
Brent crude and West Texas Intermediate crude oil prices lift as Iraq indicates it will cut production and US stockpiles fall November 23, 2016 Oil prices were lifted this evening after Iraq signalled it is willing to "shoulder responsibility" for part of Opec's planned production cut and data showed US crude inventories declined by 1.3m barrels. Iraq, a key member of the 14-member consortium, had previously called for it to be exempt from efforts to strike a final slash to output [...]
Here’s what UK tech thinks of the £400m promised for VC startup investment November 23, 2016 Startups are set for a boost from the chancellor's Autumn Statement, as Philip Hammond announced plans to plough £400m into venture capital. The funds will come via the British Business Bank and it's expected to unlock as much as £1bn for startups itching to scale up as it will encourage private investment. Of particular focus will [...]
The pound’s down and the FTSE 100’s higher as markets brace themselves for the Autumn Statement November 23, 2016 The pound fell against both the dollar and the euro, while the FTSE 100 edged higher as markets braced themselves ahead of chancellor Philip Hammond's first Autumn Statement. The pound stayed below $1.24, falling 0.3 per cent against the dollar to $1.2391 in late morning trading, and dipping 0.3 per cent against the euro to [...]
Another exchange tie-up: Bermuda and Channel Islands follow the lead of London and Frankfurt November 23, 2016 The Channel Islands Securities Exchange (CISE) and Bermuda Stock Exchange (BSX) are exploring options for working closer together. The exchanges have signed a memorandum of understanding to explore co-operation across both the commercial and regulatory aspects of their businesses. Under the memorandum, the exchanges will look into ways of working together, including “cross-fertilisation of regulatory [...]
CMC Markets profit slumps 30 per cent in first half of the year on lack of trading activity November 23, 2016 Profits dropped almost 30 per cent in the first half at online trading group CMC Markets, the group revealed today, due to a lack of client trading activity. The figures Profit before tax dropped 29 per cent to £18.8m from £26.5m, while net operating income was down four per cent to £75.5m from £78.9m. Earnings per [...]
Brent crude oil price dips after eyeing $50 a barrel and West Texas Intermediate crude also slides November 22, 2016 The benchmark oil price pared back earlier gains today, after edging close to $50 a barrel. Brent crude rose as high as $49.96 before losing around one per cent, or 51 cents, on the Monday’s close to reach $48.39 a barrel during early evening trading in London. West Texas Intermediate crude, the US benchmark, slid 1.7 [...]
Uranium prices set to “explode” in 2018, according to Berkeley Energia executive November 22, 2016 Uranium prices are set to "explode" in two years as demand from Western utilities and China will give the heavy metal a major uplift, according to a London-listed mining executive. Spot uranium prices, currently trading at around $18.50 a pound, could be set to almost triple in 2018, Paul Atherley, managing director of Spain-based uranium miner [...]