Oil prices fall as Brexit vote roils the market June 27, 2016 Oil prices gave up earlier gains this afternoon as the dollar rallied and traders continued to digest the fallout from last week's Brexit vote. Brent crude, the global benchmark, fell 3.28 per cent to $46.82 a barrel this morning, while West Texas Intermediate crude, the US benchmark, slumped 1.05 per cent to $48.85. Read more: Oil [...]
At the close: Markets take a clobbering as sterling slides and uncertainty reigns June 27, 2016 Traders and investors were left bloodied by a volatile session on the markets today. The FTSE has closed down 2.55 per cent at 5,982.20, with a fifth of FTSE 100 companies racking up double digit price falls. The internationally focused blue-chip index outperformed mid-caps however as the FTSE 250 – mostly made up of companies that trade in the [...]
Challenging times for challenger banks as shares plunge after Brexit June 27, 2016 Challenger banks are finding Brexit life challenging, their share prices suggest. While the likes of Barclays and Royal Bank of Scotland (RBS) have experienced falls of more than 18 per cent on Monday, some challenger banks have fared even worse. [custom id="161"] Shortly after 3pm on Monday, Shawbrook Group's shares were down 26 per cent [...]
Market mayhem: US stocks plunge at the open, dragged down by financials as Goldman Sachs’ share price falls to three year lows June 27, 2016 US stocks have tripped at the open, following mounting loses across Europe as the reality of last week's Brexit vote sets in. The major US markets have extended a sharp sell off from Friday as investors worry over the global implications of the UK's vote to leave the European Union, despite the best efforts of senior [...]
UK bond yields fall to a new record low, despite looming debt downgrades June 27, 2016 Borrowing costs for the UK government have dropped to their lowest on record as investors flock to the safe haven of government debt in the midst of Brexit uncertainty. Yields on the benchmark 10-year Treasury bonds plunged to 0.94 per cent, down an unprecedented 0.14 percentage points – or 14 basis points – since yesterday. It is [...]
Slim cyber silver lining for Barclays as the lender’s techies flee Brexit all-nighter for the Cyber Security Awards June 27, 2016 Not everyone at Barclays is having a bad start to the week. Suffice it to say, things aren't going well for the lender right now. It was suspended from trading on Monday after share prices fell more than 18 per cent as the fallout from last week's Brexit vote continues. As most financial services firms watched the results come in on Thursday with baited [...]
Diageo’s share price is up as sin stocks hold firm amid Monday stock market turmoil June 27, 2016 Diageo investors will be toasting their stocks today as the alcoholic drinks maker was one of the strongest FTSE 100 risers on Monday. By 1.30pm (GMT) Diageo was the sixth-highest riser, with its shares gaining 2.3 per cent to reach 1,922p, on a day when banking giants Barclays and Royal Bank of Scotland both fell more than 10 [...]
Trading suspended in Barclays and RBS as European bank shares crash June 27, 2016 Trading in bank shares was temporarily suspended on multiple occasions today as the value of European lenders tumbled in response to the vote to leave the EU. Financial giants Barclays and Royal Bank of Scotland (RBS) both fell more than 18 per cent by lunchtime as markets increasingly turned on stocks perceived to be most at risk from prolonged uncertainty [...]
Sterling plummets to a new 31-year low against the dollar June 27, 2016 Sterling has crashed to a new 31-year low against the dollar as markets continue to digest the implications of the UK's vote to leave the European Union. The pound dropped by 3.3 per cent this morning to $1.3180 – lower than during the chaos that engulfed the currency markets on Friday morning. As the polls closed [...]
Gold gains for second day as nervous investors rush into the safe-haven June 27, 2016 Gold surged for a second day as nervous investors sought refuge from a storm rippling through financial markets following the UK's vote to leave the European Union. Spot gold swelled 0.76 per cent to $1,325.70 an ounce this morning, while US gold added 0.55 per cent to $1,329.70. The precious metal has risen nearly 25 per cent [...]