The pound reaches $1.25 against the dollar on yen trading as May announces desire for business-friendly Brexit November 21, 2016 The pound gained in value in Monday afternoon trading, reversing some of the losses inflicted over the past few weeks. The pound rose over one per cent from the previous close of $1.23 against the dollar, breaking the $1.25 mark. Sterling was up over 1.2 per cent against the yen, to over ¥138.65, while it gained [...]
Oil continues upward moves despite dollar strength as Putin raises Opec cut hopes November 21, 2016 Oil prices continued their upward move since Friday on expectations that Opec would agree to a production cut at their next meeting. The rise came despite the US dollar’s continued move higher, which usually has a negative effect on commodities traded in dollars. Futures for West Texas Intermediate, the US oil benchmark, were up more [...]
Nasdaq just hit a a record high November 18, 2016 The Nasdaq index just hit a new record high. The index rose 0.2 per cent to at 5,342.09 in the minutes of opening trade, moving past its previous intraday high of 5,342.88 on 22 September. The US stocks are also near record highs following the election of Donald Trump to become the next President of the USA. The [...]
Brent crude and West Texas Intermediate crude oil prices rebound as dollar surge weakens and Opec hopes revive November 18, 2016 Oil prices rebounded this morning after a surge in the US dollar weighed on the black stuff and took Brent crude below $46 and US sweet crude under $45. Brent crude flat at $46.49 a barrel this morning, lifting from a low of $45.78, as optimism that the Organisation of the Petroleum Exporting Countries (Opec) managed [...]
Euro under pressure as US dollar heads for 10th day of gains November 18, 2016 The euro is heading for its 10th day of declines against the US dollar due to positive data following Donald Trump's win in the race to the White House. At time of writing, the euro was down 0.2 per cent against the dollar at $1.0604. The currency is on its longest run of losses since [...]
Spot gold prices fall to five-and-a-half-month low and edge closer to $1,200 an ounce following US interest rake hike hints November 18, 2016 The price of gold fell to a more than five-month low again this morning, edging closer towards $1,200 an ounce, as US interest rate hints led the dollar to rise against most major currencies. Spot gold prices fell by around one per cent to below $1,205 an ounce this morning, before a slight rebound that took [...]
Not selling itself short: SVG Capital puts the first tranche of its shares up for sale November 17, 2016 The starting gun was today fired on the winding-up of SVG Capital (SVG) following a tumultuous couple of months late this summer. Investors will be able to sell up to £350m of the company's shares from today, priced at 715p each. The offer will be open until 15 December and is part of a series of tender offers that [...]
The fourth emergency service’s shares head northwards after debt refinancing announcement November 17, 2016 Motoring group the AA today announced plans for a balance sheet shake-up in the hope of cutting some of its hefty interest costs. Shares in the company jumped over two per cent after it revealed plans to refinance hundreds of millions of pounds of its corporate debt pile, a move the AA said would save the company £8m [...]
Premier Oil share price rises as it announces refinancing plans are nearing completion November 17, 2016 Premier Oil's share price rose slightly this morning after the group announced that it's in the final stages of talks on its refinancing, and said it is on track to meet production guidance for the year. The stock was up 0.73 per cent in late morning trading. The company said it would reach its production [...]
How far will Trump’s war on climate change go? November 17, 2016 In a world of post-truth democracy, it is fitting that President-elect Donald Trump's new director of the Centre for Energy and Environment “is not a climate scientist. I'm just… the informed layman.” It would be truly fascinating and terrifying to take a peek at what Myron Ebell is reading. On the one hand, he believes [...]