FTSE 100 finishes higher for the third week in a row – but pound dips July 15, 2016 After a day of trading in negative territory, the FTSE 100 managed to heave itself into the green in the minutes before the bell, finishing 0.2 per cent higher, at 6,669.2 points. That meant the index finished up on the beginning of the week for the third time since the EU referendum. Today's rise was [...]
Gold loses shine as it heads for first weekly loss since May July 15, 2016 Bullion's longest rally in more than two years could draw to a close today, as an improving global outlook hit investor appetite for the safe haven. After six weeks of gains, bullion came under pressure this week, down 2.5 per cent so far. It's been hit by strong economic data out of the US, as [...]
Oil prices shake off losses after strong US economic data July 15, 2016 Oil prices crept into positive territory this morning, as official data pointed to solid demand in the world's largest economy. The Commerce Department said retail sales growth accelerated in May. Meanwhile, a separate release showed inflation rose for the fourth consecutive month. Read more: Oil slide leads to call from RAC for savings on the forecourt This [...]
UK stocks in a post-Brexit world – industrials, healthcare and biotech can still do well, despite the weakening pound July 15, 2016 The UK’s decision to vote Leave sent share prices tumbling, and the more domestically-focused FTSE 250 has been left worst off. Mark Martin, manager of the Neptune UK Mid Cap fund, explains the areas he’s still finding attractive – and the ones he’s avoiding On the Friday after Brexit, the FTSE 250 mid-cap index had [...]
Bank of England chief economist Andy Haldane wants “muscular” easing to help economy post-Brexit vote July 15, 2016 The Bank of England's chief economist has said it must act "promptly as well as muscularly" to counteract the effects of Britain's vote to leave the European Union. In a speech delivered a week after the EU referendum, Andy Haldane said that Threadneedle Street should ease monetary policy to protect the economy and jobs. Read more: [...]
Eurozone pulls itself out of deflation in June – just July 15, 2016 The Eurozone definitely managed to heave itself out of deflation in June, its official statistics authority confirmed today – but only just. Figures published this morning by Eurostat confirmed inflation hit 0.1 per cent in June, up from minus 0.1 per cent in May. The figure was pushed up by inflation in restaurants and cafes, rents and tobacco [...]
Why Brexit will be no problem for London’s IPO market in the long term July 15, 2016 The UK has a new captain. In the immediate aftermath of the referendum vote David Cameron said he was not the captain to steer the ship. In among the volatility in the markets and with sterling, some said HMS UK was listing. Many also thought it meant the backlog of IPOs, which had been held [...]
Airline and travel shares fall after Nice attack July 15, 2016 Airlines and travel stocks were among the FTSE 100's biggest fallers this morning, after a suspected terror attack in Nice which killed 84 people. EasyJet was the index's worst-performing stock in early trading, falling 2.3 per cent to 1,144p, while International Airlines Group, the parent company of British Airways, followed, falling 1.5 per cent to 419.3p. Travel stocks were also [...]
Flood of stimulus underpins Chinese growth in second quarter July 15, 2016 Easy monetary policy helped the Chinese economy expand slightly faster than expected in the second quarter, data published today showed. Official data suggested gross domestic product grew 6.7 per cent between April and June from a year-ago, unchanged from the first quarter, and slightly ahead of market expectations of a dip to 6.6 per cent. Read more: The South [...]
Brexit: It’s early days, but UK business has been getting on with it July 15, 2016 It is less than three weeks since the British people voted to leave the EU. In that time, much of the media response has been verging on hysterical. The political establishment, City and even bookmakers simply did not see Leave coming. Figures who were top of their game a month ago have fallen on their swords: [...]