Housebuilder shares rise as Brexit fears look like a thing of the past August 24, 2016 Rumours of housebuilders' demise are greatly exaggerated. Builders were among the big winners on the FTSE 100 for the second day in a row this morning, after strong results from Persimmon yesterday suggested they are weathering the Brexit storm. Persimmon was up 2.5 per cent at 1,918p in mid-morning trading, while Barratt was up 2.7 per cent at 499.3p. [...]
Shoreditch tech startup LoopUp to float on London Stock Exchange junior market today August 24, 2016 Shoreditch conference call startup LoopUp floats on the London Stock Exchange’s junior market today. The initial public offering (IPO) values the company at £40.8m and has raised gross proceeds of £8.5m at a placing price of 100p. The startup makes software to streamline the process of conference calling for businesses, reducing muffled noises and allowing [...]
Sterling stops the Brexit slide by hitting three-week high August 23, 2016 The pound has climbed higher again today as the trickle of strong post-referendum data boosts the outlook for the beleaguered currency. Sterling briefly touched above $1.32 this morning, a three-week high, before falling back to stand at $1.3187, up 0.4 per cent on the day and nearly four cents clear of last week's low. The pound also [...]
Before the bell: What you need to know before the US market open August 23, 2016 The sun is shining in London, the FTSE 100 is higher, and across the pond markets look set for a rise on the opening bell. Here's what you need to know before the US market open at 2:30pm London time. US futures are pointing higher ahead of the open. The S&P is up by 0.24 per cent, [...]
Silver’s performance has been stellar this year, but will loose monetary policy and industrial demand allow it to maintain its surge? August 23, 2016 As Team GB celebrates second place on the Rio medals table, silver has seldom looked so good. It would appear that investors agree. Since the start of the year, the price of gold has risen over 25 per cent, but silver has outpaced it, rising by more than 30 per cent. It’s now at $18.89 [...]
At the close: Pound picks up and FTSE 100 falls down August 22, 2016 Sterling moved higher today as the shine came off the stock markets in afternoon trading. Today, 31 was the magic number for the pound. After flirting with setting a new 31-year low last week, the currency climbed back above what has become a crucial $1.31 barrier to stand at $1.3131 at pixel time against the greenback. The pound [...]
Investment bank issues warning about “dangerous” trend of shorting the fear index August 22, 2016 One of the world's top investment banks has warned that financial markets are entering "dangerous" territory as investors eye up increasingly exotic products in the search for returns. In a note to clients, entitled "dangerous yield chasing", the Bank of America Merrill Lynch (BoAML) today raised a "red flag" over the "worrisome trend" of investors selling [...]
Study shows low market volatility leads to banking crises August 22, 2016 Beware the calm before the storm. A new report has found periods of low volatility in the financial markets increase the chance of a banking crisis. Researchers from the London School of Economics (LSE), the University of Chile and the US Federal Reserve studied more than 200 years of economic history across 60 countries, finding spells of more predictable [...]
Aim-listed explorer Europa Oil & Gas finds up to 600m barrels of oil off Irish coast August 22, 2016 Aim-listed Europa Oil & Gas said today that one of its licences in the Atlantic basins, just off the coast of Ireland, potentially contains between 300m and 600m barrels of oil equivalent. Europa has a 100 per cent interest in, and is operator of, seven licences in the Atlantic basins offshore Ireland including LO 16/22, which covers [...]
Insulation firm Autins set for £26m Aim IPO August 22, 2016 Autins Group, a car insulation manufacturer that reduces noise from the engines of Bentleys and Range Rovers, will begin trading on London’s junior Alternative Investment Market (Aim) today. Autins has raised £26.6m through a placing of new and existing shares, giving the group a market capitalisation of around £37.1m. The group plans to use the [...]