Before the bell: What you need to know before the US market open July 5, 2016 The Bank of England has slashed its capital requirements for UK banks, the pound is at a new 31 year low, and Australia's central bank has held interest rates unchanged at 1.75 per cent. Here's what you need to know before the US open at 2.30pm London time. US futures are pointing south after coming back from [...]
Fitbug turns to crowdfunding as it takes aim at corporate fitness July 5, 2016 Wearable fitness tracker maker Fitbug is turning to crowdfunding as it seeks to raise £2.6m. Crowdfunding platform SyndicateRoom is offering investors enterprise investment scheme (EIS) shares, on the same terms of institutional investors. Fitbug, which is listed on the London Stock Exchange’s alternative investment market (Aim), has already raised £852,000 through institutional investors. This leaves up to £1.76m [...]
Roar: Dragon Capital brings Vietnam investment opportunity to the world – via London July 5, 2016 The London Stock Exchange today welcomes a new entrant at a time when several firms are understood to be postponing and calling off flotations after the UK’s Brexit vote. The flagship fund of investment management company Dragon Capital, Vietnam Enterprise Investments Limited (VEIL), today begins trading on the main market with a launch price of 250p. [...]
Columbia Threadneedle commits to London as asset managers plan Brexit discussions July 4, 2016 Fund manager Columbia Threadneedle has committed to keeping its European headquarters in London after Brexit. The company confirmed it has “begun the process of applying to expand the scope of our Luxembourg-based management company to enable us to establish an asset management presence in the EU”. Read more: Brexit is not proving an asset to [...]
Trading suspended on UK real estate fund after post-Brexit vote outflows July 4, 2016 Trading has been suspended on Standard Life Investments’ UK real estate fund in response to increased outflows. The suspension, which came into force at midday on Monday, is in response to “exceptional market circumstances” after the UK’s Brexit vote. Read more: Commercial real estate share prices hit as future of City looks uncertain The company [...]
Crowdcube is eyeing a massive new round of investment via crowdfunding July 4, 2016 Crowdcube is defying the Brexit jitters raising its own new round of funding via, where else, but its own round of crowdfunding. One of the early pioneers of the equity crowdfunding concept, the site has revealed ambitious new plans to raise more than £5m from investors. “In just five short years we have firmly established our position as [...]
Week ahead: Brexit fears set to hang over FTSE earning reports July 4, 2016 The market is bracing itself for a slew of Brexit induced profit warnings this week as we enter the early stages of reporting season. After the UK’s shock vote to leave the European Union triggered a sharp sell off, the FTSE 100 has rebounded strongly – pushed on by international earners. The blue-chip index ended [...]
Retail investors snap up shares in bumper week for trading platforms amid Brexit volatility July 1, 2016 Last week's referendum sparked waves of volatility on the financial markets, triggering interventions from the Bank of England and causing trading to be suspended on a handful of the UK's biggest companies. Banking shares were butchered. Housebuilders were demolished. But, the FTSE 100 now stands at a 10-month high after it became clear some of the big [...]
At the close: Just as things settle down Carney makes sure everyone’s still on their toes June 30, 2016 Just as the political situation had stolen the limelight from the markets in the aftermath of the UK's vote for Brexit, Mark Carney grabs it back. Carney, the governor of the Bank of England (BoE), told markets earlier this afternoon to expect a cut in interest rates as he warned the economy was in for a period of [...]
Before the bell: What you need to know before the US market open June 30, 2016 The Fed's stress tests were failed by two European banks further buffeting stocks hit by the Brexit vote, while Wall Street lenders have announced share-buyback plans. Here's what you need to know before the US market open at 2:30pm London time. Futures are pointing down ahead of the open, with the S&P off by 0.16 per [...]