Asian stocks fall amid fears UK will vote to leave the European Union June 13, 2016 Financial markets are preparing for falls today after Asian stocks experienced the biggest intraday falls in over two months due to building worries that Britain may vote to leave the European Union in the upcoming referendum. The pound suffered when trading opened. Sterling fell to $1.4159 in early Asian trade, its weakest since April 18. There [...]
Remain campaign can’t rely on Labour voters June 13, 2016 With just 10 days to go until Britain votes on its membership of the European Union, how much ammunition do the two sides have left? The Leave camp feel they’re on to a winner with talk of Turkey joining the EU, not least with immigration remaining top of the list of public concerns. Number 10 [...]
With a June rate rise apparently off the cards, has the US Fed left it too late to normalise monetary policy? June 13, 2016 Neil MacKinnon, global macro strategist at VTB Capital, says Yes. The US Federal Reserve got the ball rolling by raising interest rates back in December and looked for an additional four increases this year. This was promptly shelved following the slide in markets in January. My view is that the Fed kept interest rates too low [...]
Week ahead: Investors watch BoE and sterling as EU vote nears June 13, 2016 Brexit braying and the Bank of England’s interest rate decision will be closely followed by investors this week. Ahead of the BoE’s announcement on Thursday we’ll hear from the US Federal reserve, and though markets are not expecting a move from either, investors will be paying close attention to the language used by policy makers. [...]
Brexit bank headache, 7 years of limbo: What Europe said on Brexit today June 12, 2016 Top leaders in Europe's finance world have spoken out on the Brexit debate on Sunday, with warnings of a headache for German banks and seven years of "limbo" in negotiations. German banks would be hit if Britain voted to leave the European Union, the head of the country's financial watchdog has warned. The heavy exposure of [...]
These are likely to be the most pro-Europe places in Britain June 12, 2016 Where in Britain are the biggest supporters of remaining in Europe? According to one bookie, and perhaps surprisingly, it's not London which is expected to produce the biggest support for the Remain camp in the upcoming referendum, now less than two weeks away from the crunch vote. It's Edinburgh which Ladbrokes pegs as coming out as the top [...]
Farage on Brexit sterling slump: “So what?” June 12, 2016 Brexit supporter and Ukip leader Nigel Farage has said it won't matter if sterling falls if Britain votes to leave Europe in the upcoming referendum. "Even if sterling were to fall a few percentage points , so what?" he said, speaking on the BBC's Andrew Marr Show on Sunday morning. "It's a floating currency and it will [...]
Pensions are at risk from Brexit, David Cameron warns June 12, 2016 State pensions could be put at risk if Britain voted in favour of leaving the European Union Prime Minister David Cameron has warned. Free buss passes and TV licenses for pensioners would also be at risk from a "black hole" in the public finances, as would National Health Service and defence spending, he said. The government's commitment [...]
Pound falls to two-month low against the dollar after poll finds 10-point lead for Brexit June 11, 2016 The pound has dropped to a two-month low against the dollar after a new EU referendum poll showed a 10-point lead for Leave over Remain. A survey of 2,000 people by ORB for the Independent found a 55 per cent backing for Brexit and 45 per cent support for staying in the EU. Read more: Sterling steady [...]
European banking shares skid lower as FTSE 100 sinks June 10, 2016 European banking shares finished sharply lower today, making their biggest intraday decline since the beginning of February. The Stoxx 600 Banks index finished 4.2 per cent lower, its biggest one-day fall since 11 February. It was pushed down by the likes of Deutsche Bank, which skidded 4.6 per cent to €14.06, and Credit Suisse, which fell 3.8 per cent [...]