EU referendum: Banking stocks rule the roost as Brexit camp slips back June 23, 2016 Banking stocks have stormed up the FTSE 100 today, as markets react as if we've already had the result of the EU referendum. The bluechip index charged higher in morning trading as a number of opinion polls released late last night and today showed the swing back towards Remain was holding right up until polling day. [...]
EU referendum: What will individual company share prices do after the vote? June 23, 2016 The stock market may have started today on a high, but nobody expects tomorrow's open to be quite so smooth. Whatever the vote, analysts are expecting movement. UBS warned 20 per cent could be wiped off the FTSE 100 in the event of a vote to leave – a move which would take the index down [...]
Sir James Dyson on EU referendum: “To remain would be an act of self-harm” – as Tate & Lyle boss Gerald Mason backs Leave June 22, 2016 Hours before the polls open, Sir James Dyson has renewed his support for a Brexit, saying remaining in the EU would be an "act of self-harm". In a column for The Times, Dyson – who has already been a vocal supporter of the Leave camp – said tomorrow's vote was "about control of our future". "As the [...]
Business leaders sign letter backing Britain remaining in the EU June 22, 2016 The bosses of more than half of the UK's biggest companies have called for voters to back Britain staying in the EU in tomorrow's vote. Directors from 51 FTSE 100 companies have signed a letter to voice their support for the UK remaining in the EU, saying a British exit "would put jobs at risk". [...]
Five of the best: Ethical banks to stash your savings June 22, 2016 Banks have been mired in scandal over the last decade. The 2008 financial crisis has been followed by countless investigations and fines. Big banks have variously been caught out for mis-selling products, violating sanctions and manipulating prices of gold, silver, currencies, and libor interest rates. Not surprisingly, headlines have been filled with ire over banks’ unseemly [...]
At the close: Calm before the storm for FTSE 100 and sterling June 21, 2016 Referendum news was – unsurprisingly – talk of the town today, though there was no repeat of the violent volatility witnessed on the financial markets in recent days. The FTSE 100 extended its winning run, shaking off losses at the start of the session to close up 0.4 per cent at 6,226. Meanwhile, after a [...]
These are the seven fintech startups being backed by Mastercard June 21, 2016 Mastercard is backing seven fintech startups hoping to change the way we use money and disrupt the finance world. London startups Revolut and Everledger are among the tech firms chosen for Mastercard's six month Start Path programme from among more than 500 applications from 60 countries. The startups, from as far afield as Israel and Argentina and announced at London [...]
Cash is still king: Why hard cash continues to be a vital asset class for investors June 21, 2016 To many, cash represents an opportunity cost, an opportunity lost. These investors believe cash is a temporary holding medium between risk-assets, held unwillingly, often for a lack of better ideas. That is a limiting, myopic view. Cash is a core asset class, not a blank canvas from which to create an investment. Sometimes – even [...]
What will happen to UK equities if we leave the European Union? June 21, 2016 The pound and the FTSE soared yesterday, as the Remain camp wrestled back its lead in the polls. But the outcome of Thursday’s EU referendum is far from clear, with pundits saying that voter turnout will be pivotal in determining whether the UK stays or leaves. If Article 50 is triggered and sterling dives, what should [...]
Say what? EU referendum week gets off to a stonking start as sterling and FTSE close higher – pushed up by banking and housebuilding shares June 20, 2016 Investors may have been bracing themselves for a disastrous pre-referendum week – but things got off to a pretty good start today, with sterling hitting its highest since May, and banking shares bouncing back after a less-than-impressive performance last week. The FTSE 100 closed three per cent per cent higher – soaring above 6,000 points to hit 6,204. Meanwhile, the pound [...]