This unicorn is leaping on its IPO June 23, 2016 Tech bubble? What tech bubble? Twilio shares have surged on its IPO, leaping as much as 70 per cent on its debut on the New York Stock Exchange. Shares surged as high as $25.50 after pricing at $15 per share, giving it a market capitalisation of more than $2bn Read more: These are the seven [...]
EU referendum: Banking stocks rule the roost as Brexit camp slips back June 23, 2016 Banking stocks have stormed up the FTSE 100 today, as markets react as if we've already had the result of the EU referendum. The bluechip index charged higher in morning trading as a number of opinion polls released late last night and today showed the swing back towards Remain was holding right up until polling day. [...]
Sterling spreads its wings to hit 2016 high against the dollar as EU referendum voting kicks off June 23, 2016 Any jitters over the outcome of the EU referendum were well and truly quelled this morning, after sterling soared to hit its highest this year against the dollar, topping $1.49 for the first time since December. The pound was up 1.4 per cent at $1.4911 in late morning trading, while it rose 0.64 per cent against [...]
EU referendum: What will individual company share prices do after the vote? June 23, 2016 The stock market may have started today on a high, but nobody expects tomorrow's open to be quite so smooth. Whatever the vote, analysts are expecting movement. UBS warned 20 per cent could be wiped off the FTSE 100 in the event of a vote to leave – a move which would take the index down [...]
EU referendum: Markets cast their votes early as sterling and FTSE 100 rally as polls open June 23, 2016 We may not know what the result of the referendum will be until the small hours, but the markets seem to understand which way the country is heading already. After polls last night showed a swing to Remain in the final days of campaigning, the pound rallied against the dollar, hitting its highest level of [...]
Waning Brexit fears fail to keep oil above $50 after disappointing data June 22, 2016 Crude slipped below $50 per barrel this afternoon following lacklustre US oil data, with investor calm ahead of the EU referendum failing to provide enough support. Brent crude, the global benchmark, slipped 1.50 per cent to $49.86 per barrel, while West Texas Intermediate crude, the US benchmark, fell 1.48 per cent to $49.11. The Energy Information [...]
At the close: Remain relief rally starts early as FTSE 100 climbs ahead of Brexit vote June 22, 2016 Perhaps all the decision makers were taking a breather. Maybe the big sellers have switched onto nights ahead of tomorrow. Or, has everybody in the City had enough of referendum news and just decided to ignore the potentially tumultuous event about to take place? There were just a few of the questions being asked to [...]
Saudi may resume swing producer status once the oil market recovers June 22, 2016 Saudi Arabia could resume its mantle as the world's major swing producer, with the ability to determine oil prices, once the battered global market has recovered. The de facto Organisation of Petroleum Exporting Countries (Opec) leader effectively abandoned this role in 2014, as it kept production steady despite tumbling crude prices to crush the emergent US shale [...]
These money transfer startups are restricting services on referendum day June 22, 2016 Several of the UK's fast growing online money transfer companies have said they will restrict their services on the day of the EU referendum. The unprecedented step is due to the potential volatility of currency markets on Friday. Startup Azimo has said it will temporarily suspend money transfers from 6am on Thursday morning when polls open, until "things have settled [...]
EU referendum: Financial markets are looking calm – for now June 22, 2016 This time tomorrow, polls will be open, voters will be dripping into town halls, churches and school gyms to conduct their civic duty by putting a tiny mark next to a few words on a bit of paper and dropping it into a crusty old wooden box. That moment of calm – behind the curtain [...]