Retail and manufacturing slowdown hits the logistics industry June 7, 2016 Logistics firms are being squeezed by a higher cost of doing business and increasing pressure from struggling retailers and manufacturers, according to a new report. Barclays found 49 per cent of businesses said trading conditions had become more difficult over the last six months, as its measure of confidence hit its lowest level since the [...]
Argentine confectioner Havanna lists in the country’s first local IPO since 2013 June 6, 2016 Havanna, an Argentinian confectioner, has listed on the Buenos Aires Stock Exchange. It’s the country’s first local listing since 2013 and has been taken as a further sign of economic recovery in Argentina. In May financial group Grupo Supervielle SA raised $280m (£193m) when it listed in New York and Buenos Aires. Havanna placed a [...]
Lord Stern delivers stark warning to Mark Carney’s climate task force June 6, 2016 A leading economist said oil, gas and coal firms risk financial ruin if they ignore global climate agreements, in a stark warning to the task force set up by Bank of England governor Mark Carney. Lord Nicholas Stern, who is renowned for his work on climate change, warned: "Business models reliant on the assumption that governments were [...]
Fed’s Yellen concerned by recent shock jobs report but remains “cautiously optimistic” June 6, 2016 The recent jobs report that showed a slow down in the number of jobs the US economy is adding has been called "concerning" by the Fed chair Janet Yellen. Her remarks will reinforce market expectations that the US interest rate will be held steady. Bloomberg average estimates of an interest rate hike in June fell to two [...]
At the close: FTSE 100 bulldozes over Brexit concerns as oil and metal prices climb June 6, 2016 The FTSE 100 managed to kick off the week with a rise today, finishing up one per cent at 6,273.40 points. A jump in commodity prices managed to offset fears of Brexit that dragged down house builders. A flurry of recent polls have put the leave campaign neck-and-neck with remain as the 23 June vote draws nearer. The news [...]
Bond yields in the developed world hit a record low – even the EU referendum won’t stop them falling June 6, 2016 Bond yields across the advanced world have touched a record low. The fall comes as the US looks set to delay its next interest rate hike, the effects of quantitative easing and negative interest rates continue to take hold and political uncertainty mounts. The yield on Bloomberg's global developed sovereign bond index dropped to 0.62 per cent – [...]
Before the bell: What you need to know before the US market open June 6, 2016 Markets are hoping for clarity from Fed chair Janet Yellen later and a British exit from the European Union is looking more likely as a poll gap narrows. Here's what you need to know before the US market opens at 14:30 London time. US stocks are pointing up in the pre-market. The S&P is up by 0.13 per cent, the [...]
Sterling slips again after latest opinion polls show strong support for Brexit June 6, 2016 The pound has yet again borne the brunt of the twists and turns of the EU referendum campaign, with another big drop in the value of the currency today after more opinion polls showed the Leave side on top. Sterling has lost 0.7 per cent against the US dollar today, falling to a three-week low of $1.4406, [...]
Oil, copper, gold, zinc: Commodities rally as dollar softens after US jobs shocker June 6, 2016 The dollar's pain was commodities' gain this morning, as the weaker greenback reinvigorated the typically ailing asset class. It helped oil push through the $50 mark, while copper, gold and zinc hit multi-week highs. Most metals had a torrid time last month due to the stronger greenback. But it traded near three-week lows today, making dollar-traded commodities cheaper [...]
SMEs have a gloomy view of the economy, as uncertainty over the upcoming EU referendum vote and higher wage bills take their toll June 6, 2016 The summer weather has done little to boost SME owners' moods, with research out today showing that many have lost confidence in the economy. According to the study by Close Brothers, only one in five SMEs said they were confident that the economy could deliver a steady recovery, while more than a quarter said they were [...]