FTSE 100 index opens up as oil prices surge lifting oil companies and miners including Anglo American and Glencore ahead of the Bank of England’s interest rate decision February 4, 2016 The FTSE 100 index opened up this morning as markets priced out a further interest rate increase by the Federal Reserve this year, in turn causing the dollar to slide and the price of oil to rally. The UK's blue chip index rose 1.46 per cent to 5,924 points ahead of the Bank of England's latest [...]
Deutsche Bank, Uni Credit, Standard Chartered share prices drop: European bank shares are tanking February 3, 2016 Shares in leading banks tumbled throughout Europe today, with Deutsche Bank and Standard Chartered falling by 6.02 per cent and 4.29 per cent respectively. A sea of red engulfed the sector as fears spread of slowing economic growth and credit losses from energy companies hobbled by low oil prices. Brenda Kelly, head analyst at London Capital [...]
Gold looks set to lose it’s shine in 2016 as markets calm down February 2, 2016 Gold, the perceived safest of havens, is unlikely to keep its gains in 2016, according to a survey of 31 gold watchers by the London Bullion Market Association. Those surveyed produced an average price of $1,103 a troy ounce, down from the current price of $1,125.3. The predictions ranged from $1,225 at the most bullish [...]
Brent crude and WTI: Oil price rally fades on China data, slim chances of Opec deal February 1, 2016 The black stuff's rally proved short-lived today, with Brent and WTI prices tumbling on waning hopes of an emergency meeting between Opec members and weak economic data from China. Brent crude, the international benchmark, shed 3.7 per cent to $34.66 per barrel. Meanwhile, West Texas Intermediate (WTI) crude, slumped 4.82 per cent to $32 per barrel. Oil had [...]
Is Parma ham really bad for you? We sent someone to Italy’s Emilia-Romagna region to eat as much as they could January 29, 2016 W e had only meant to stop for a light lunch. But in a quiet square in the tiny town of Piacenza, waiting staff at the Taverna In busied themselves bringing plate after plate of unbearably delicious looking fare. There was a platter of cheese featuring crumbly gorgonzola, fat chunks of salty parmesan and creamy, [...]
US GDP growth misses expectations and puts pressure on the Fed to loosen monetary policy January 29, 2016 US economic growth missed expectations in the fourth quarter, reinforcing fears that the Federal Reserve was too hasty last month when it raised rates for the first time in almost a decade. Gross domestic product (GDP) rose by 0.7 per cent during the last three months of the year, the US Department of Commerce said [...]
FTSE 100 hovers close to 6,000 after Bank of Japan unveils shock interest rate cut January 29, 2016 The FTSE briefly edged above 6,000 points again this morning as investors cheered a shock decision by the Japanese central bank to cut one of its main interest rates to negative. The bank cut its benchmark rate to -0.1 per cent, effectively meaning it will charge lenders interest for excessive reserves parked in its coffers. The news caused Japanese [...]
US Fed leaves interest rate on hold amid global market volatility January 27, 2016 The US Federal Reserve has voted to keep interest rates on hold at 0.5 per cent, following the first rate rise for almost a decade in December. All but one member voted to leave the benchmark rate that banks offer to lend to each other overnight, known as the Federal Funds rate, between 0.25 per cent [...]
FTSE 100 index closes up ahead of Federal Reserve statement as Sage Group and Glencore surge January 27, 2016 The FTSE 100 index closed higher on Wednesday, after having opened lower this morning ahead of the Federal Reserve's statement. The UK's blue-chip index closed 1.33 per cent up at 5,990 points. "Global equity prices continue zigzagging on a muddy route. The oil market remains in bears’ hands above $30," said Ipek Ozkardeskaya, market analyst at London Capital Group. [...]
US services PMI disappoints, but consumer confidence climbs as Fed meets over interest rates January 26, 2016 The latest US services purchasing managers index (PMI) has come in below expectations, further adding to the challenge faced by the US Federal Open Market Committee (FOMC), who are deciding on whether to change the benchmark interest rate over the next 18 hours. Markit's flash services PMI came in a bit below expectations for January, [...]