Pre-tax profit at online trader Plus500 plunges over 80 per cent August 13, 2019 Trading website Plus500 saw pre-tax profit plunge by over 80 per cent in the first half of the year compared to a year earlier, which it blamed on a lack of volatility in the markets providing its customers fewer opportunities to make money. Read more: Plus500 shares plummet as revenue collapses but bosses salaries climb [...]
Asian stock markets fall as embattled Hong Kong leader urges calm August 13, 2019 Hong Kong leader Carrie Lam has said the protests that have rocked the city for over two months have caused “severe wounds” and that the recovery will be a long process. Read more: Hong Kong airport cancels flights for Monday amid protests As Lam spoke this morning (afternoon in Hong Kong), Asian stock markets slipped [...]
Ring time: Open outcry trading sessions to be extended by London Metal Exchange August 12, 2019 The London Metal Exchange is set to extend its final open outcry trading sessions, backing its historic method of buying and selling on the floor over a potential shift towards electronic platforms. Frenzied five-minute dealing windows are to be doubled to 10 minutes on the trading floor of the world’s oldest and largest market for [...]
Yen and bonds bullish as trade war fears weigh on global stocks August 12, 2019 Concerns that US-China trade tensions and a no-deal Brexit could spark a recession boosted the yen and bond markets today, while stock markets suffered once again. Early gains for European and Asian stocks soon faded and Wall Street futures were already in the red as traders geared up for another potentially volatile week. Read more: [...]
Tanzania allows Acacia to restart gold exports, but bigger problems remain August 12, 2019 The Tanzanian government today lifted a ban which stopped Acacia Mining from exporting gold from its biggest mine, as a dispute between the two sides continues. The gold miner was slapped with the ban a month ago, facing claims that it had broken mining regulations in the country. Read more: Acacia accepts increased takeover bid [...]
Expectations for UK economy fall to lowest level since 2011 August 12, 2019 Public expectations for how the UK economy will fare over the next 12 months are at their lowest level in more than seven years, according to a new report released today. The Office for National Statistics (ONS) has said the outlook for the general economic situation for the year ahead is worse than at any [...]
Sterling recovers after tumbling to ten-year low against euro August 12, 2019 The pound has bounced after tumbling to a ten-year low against the euro this morning following a report from the Institute for Government (IfG) think tank that said MPs are unlikely to be able to stop a no-deal Brexit. Sterling dropped to €1.072 shortly after midnight. It fell to its lowest point since the depths [...]
Shares rise as Tullow Oil sees great start to Guyana drilling campaign August 12, 2019 Tullow Oil today hailed an “excellent start” to a South American drilling campaign as the company made a major discovery off the coast of Guyana. The discovery shows that the Jethro-1 well will likely hold over 100m barrels of oil, chief executive PaulMcDade said. The discovery is ahead of expectations. Read more: Tullow facing delays [...]
Saudi Aramco Indian investment ‘among biggest ever’ August 12, 2019 Saudi Aramco is set to take a 20 per cent stake in the oil to chemicals arm of India’s Reliance Industries, a deal which is being touted as the among the biggest inward investments in Indian history. The deal, which values the business at $75bn (£62bn) including debt, is the third major investment by the [...]
European stock markets bounce after rough week August 12, 2019 European stocks have opened higher as calm returned to the market following a sharp sell off on Friday driven by the US-China trade war. Read more: US stock markets fall with Donald Trump ‘not ready’ for deal with China The FTSE 100 was 0.6 per cent higher by 8.30am, Germany’s Dax had climbed 1.1 per [...]