FTSE 100 index trades higher ahead of Federal Reserve minutes and UK employment and wage data as Glencore, Anglo American, Rolls-Royce and tourism companies share prices rise February 17, 2016 The FTSE 100 index traded higher this morning as all eyes turn to UK employment and wage data, as well as the latest Federal Reserve minutes. The UK's blue-chip index rose 1.27 per cent to 5,936 points in mid-morning trade, led higher by Glencore, Anglo American and Rolls-Royce despite the price of oil falling back slightly. "Despite yesterday’s slide [...]
Pakistan’s parliament has become the world’s first to run entirely on solar power February 17, 2016 Pakistan has become the world's first parliament to be powered entirely by solar, according to media reports. Most of the energy generated will be used to power parliament, with anything that's left over being fed into the national grid. Parliamentary speaker, Ayaz Sadiq, said: "The solar panels in the house generate 80 mega-watts of electricity, [...]
Gold price starts falling again after seeing a turnaround in early trading today February 16, 2016 The gold price has plunged by 2.85 per cent to $1,203.97 per ounce, its biggest single-session point drop in almost a year, after rallying earlier in the day to $1,213.95. Investors had thought the commodity's two-day losing streak was at an end given the 0.38 per cent gain in early trading but the turnaround has not [...]
Gold price rally returns as it snaps two-day losing streak February 16, 2016 The gold price rally returned today, ending a two-day losing streak, as ongoing concerns over the global economy returned a sparkle to its safe-haven status. Spot gold rose 0.38 per cent to $1,213.95 an ounce in mid-afternoon trade. Earlier, it had fallen as low as $1,190.40, having shed 2.3 per cent yesterday, its biggest one-day loss [...]
What happens when you talk markets on Facebook February 16, 2016 What do you do when everyone is active on Facebook except you? You get with the programme. How do you do that? You (naively) say yes to going live for your company on Facebook to “do a little Q&A session on the markets”. What happens then? First you freak out as you discover how “personal” [...]
What a week: Over $1 trillion wiped off global stock markets including the FTSE 100 and Dow Jones since Monday February 12, 2016 Trading floors throughout the world were overwhelmed by fear yesterday, as investors pulled cash out of risky assets and sent stock markets plunging further into the red. Around $1.2 trillion has been wiped off the value of global equities since the start of the week, with banks bearing the brunt of widespread concern that another [...]
US stocks end lower as banks including Bank of America, Citigroup and Goldman Sachs are walloped February 11, 2016 Despite their best efforts, US stocks followed the rest of the world's stock markets lower. The Dow Jones finished the day 1.6 per cent lower, at 15,660 points, while the S&P 500 finished 1.23 per cent lower, at 1,829 points. And while the Nasdaq had a late rally, jumping into the green for a few [...]
Why bank share prices are falling: Liquidity levels are borderline economic recession – and the world is facing another funding crisis February 11, 2016 Global investors are rushing to ‘safe’ assets. Many government bond yields have turned negative and gold, so long out of fashion, is spurting higher. Financial markets are cyclical and typically suffer sell-offs every 8/9 years: 1966, 1974, 1981, 1990, 1998, 2007/08 and now 2015/16. Yet, there is a smell of panic across the trading floors [...]
FTSE 100 index closes higher as bank shares rise and Janet Yellen’s remarks calm markets despite the continued fall of miners February 10, 2016 The FTSE 100 index closed higher today as banks recouped some of the losses they made yesterday and US Federal Reserve chair Janet Yellen calmed markets. The index closed 0.71 per cent higher at 5,672.3 points. "Fed Chair Janet Yellen’s testimony was always going to be aimed at provoking the least reaction possible in her testimony to the House Financial [...]
Federal Reserve chair Janet Yellen flags risk to growth from financial market turmoil February 10, 2016 US interest rates could stay on hold for longer if the current financial market volatility persists. Federal Reserve chair Janet Yellen warned that continuing swings in financial markets could partially derail the economy's growth, and said financial conditions had already become "less supportive". However she dismissed the idea that the Federal Reserve may need to [...]