Bittersweet trading day leaves FTSE shy of record October 5, 2016 The FTSE 100 came close to an all-time closing high yesterday as shares were boosted by the fall in the pound. A lower pound lifts the earnings potential of some of the UK’s biggest companies that count their revenue in dollars and dominate the FTSE 100. When the closing bell rang at 4.30pm the blue-chip [...]
Krispy Kreme sold to US parent as UK floatation plans deserted October 4, 2016 US doughnut chain Krispy Kreme is buying the UK business from its private-equity owner. Earlier in the week Krispy Kreme UK abandoned its planned £200m London initial public offering after a bid from its US parent. No financial details were disclosed but it’s thought the price tag is in the region of the planned IPO, [...]
With the FTSE 100 close to an all-time high, are UK markets heading for a fall? October 4, 2016 Jason Hollands, managing director of Tilney Bestinvest, says Yes. While it’s incredibly difficult to accurately call the top of a market, what we do know is that equities never rise relentlessly in a linear fashion, and the current bull market has run on for a very long time now, despite the headwinds of weak global growth [...]
Euro leaps on ECB quantitative easing tapering rumours October 4, 2016 The euro has shot up in late afternoon trading on rumours the European Central Bank is considering proposals for how to taper its quantitative easing programme. The euro jumped from £0.8730 against the pound, which was already suffering amid Brexit speculation, to £0.8787 in a 0.5 per cent pounce. Against the dollar, the single currency recovered [...]
Oil prices settle above $51 as Opec deal optimism abounds October 4, 2016 Oil prices hit a four-month high today as investors felt increasingly optimistic about the ability of Opec to agree its first production cut in eight years. Brent crude, the global benchmark, rose 0.45 per cent to $51.12 per barrel in late afternoon trading. West Texas Intermediate crude swelled 0.08 per cent to $48.85. Investor sentiment has [...]
Housebuilder shares on the road to recovery after Brexit vote falls October 4, 2016 Housebuilders' shares are on the road to recovering the losses they sustained after the Brexit vote on the back of chancellor Philip Hammond's announcement of a £5bn stimulus package for the industry. Hammond said yesterday that he would be setting aside money to encourage developers to build on surplus public land and to fund more [...]
Gold prices hit lowest level since EU referendum October 4, 2016 Gold prices have dipped to their lowest level since the referendum in a big morning of movers-and-shakers on the global money markets. An ounce of the yellow stuff on the spot exchange markets will set you back $1,292 this morning, down 1.5 per cent from yesterday's close. That is the lowest price for gold since the UK [...]
FTSE 100 smashes through 7,000 as investors cheer falling pound October 4, 2016 The FTSE 100 smashed past the 7,000 mark this morning as the falling pound continued to keep investors' spirits high. The market opened at 7,004 points, 0.28 per cent up on yesterday's closing price, before rising more than one per cent to 7,054 points in early trading. Although the market edged towards the psychologically important milestone yesterday, it finished [...]
Sterling drops below post-Brexit vote low to its weakest since 1985 October 4, 2016 Sterling has dropped this morning to its weakest since 1985, dipping by 0.5 per cent to $1.2779. The pound has been in decline since Prime Minister Theresa May announced the timetable for Brexit negotiations over the weekend, and plunged even further this morning. Sterling has also been pulled down by concerns over the possibility of a [...]
Oil briefly rises above $51 per barrel, buoyed by Opec optimism October 3, 2016 Oil briefly rose above $51 per barrel today as investors weighed optimism over oil cartel Opec’s ability to agree on a production cut against the stubborn oversupply. The group is meeting next month in Vienna after signalling at a summit last week in Algeria that they could reach their first output agreement in eight years. Brent crude, the [...]