Black Monday: Shares in National Bank of Greece, Eurobank and Piraeus are collapsing August 24, 2015 Share prices at Greek banks have fallen by more than a quarter as the combination of the global crash and uncertainty around a Grexit weight heavy on the financial sector. Athens Stock Exchange had fallen by seven per cent in mid-afternoon trading – but it was the banks that were hit hardest. The [...]
Black Monday: Gordon Brown’s former spad Damian McBride thinks you should stockpile food and water to ride out the crash August 24, 2015 Worried about Black Monday? You're not the only one. Although you might not be reaching the same conclusion Damian McBride has. Gordon Brown's former spad has tweeted some urgent advice on the back of this morning's stock market tumbles – and it sounds like he is taking the crash pretty seriously. If any [...]
The “fear index” Vix soars to highest level in years as Asian, European stock markets slump August 24, 2015 The so-called fear index has jumped to its highest level in years this morning as markets in Asia and Europe slumped. The Vix index leaped to 28.03 points in mid-morning trading, up 46.45 per cent, having opened up 22.55. Its European counterpart the VSTOXX has also shot up, peaking at a high of 35 in [...]
Black Monday: Billions wiped off FTSE 100 as it falls below 6,000 after China shock August 24, 2015 The FTSE 100 fell below the psychologically significant 6,000 mark this afternoon for the first time since 2012, after stocks in China closed more than eight per cent lower. The market dipped below 5,900 points, more than five per cent lower, at lunchtime, its lowest point this year. Meanwhile, Germany's Dax fell 4.5 per cent and [...]
Oil prices hit six-year lows as global commodities rout continues August 24, 2015 As global equities continue to plummet, commodities are doing the same. After Bloomberg's commodity index sank to a 16-year low overnight, oil prices continued their rout this morning, with both WTI and Brent crude falling to six-and-a-half year lows. Read more: Black Monday? FTSE edges towards 6,000 Brent crude was down 3.65 per cent at [...]
China’s economic slowdown: There’s been blood on the trading floor this Black Monday – but should we be afraid of what’s to come? August 24, 2015 The Chinese government and regulators are currently learning some of the more harsh lessons that their Western counterparts have found out over the last century or so. You can fight free markets as much as you want but sooner or later you will lose. Monday’s 8.5 per cent fall in the Shanghai Composite, when [...]
China’s economic slowdown: Commodities plunge to 16 year low as China fears push oil prices down further August 24, 2015 Commodity companies’ shares have been hit hard by crashing oil prices and “Black Monday” market fears that China’s slowdown will worsen a global oversupply of raw materials. Bloomberg’s commodity index, a basket tracking 22 different raw materials, tumbled to 86.3542 today, its lowest level since 1999, as commodity prices continue to slump amid a global [...]
China’s economic slowdown: Shares in Shanghai Composite, Hang Seng, Taiex and Nikkei close down August 24, 2015 Markets throughout Asia collapsed on Monday amid concerns over China's slowdown, prompting comparisons with the region's financial crisis in the early 1990s. The Shanghai Composite closed 8.49 per cent down, wiping out all 2015 gains so far and marking the largest drop since 2007. Taiwan’s Taiex closed down 4.8 per cent, though during trading it [...]
Chaos on European markets as FTSE 100 tumbles, while S&P 500 crashes below 2,000 points August 21, 2015 The FTSE 100 clocked its biggest weekly loss this year, falling 2.8 per cent to 6,187.6 points, while US markets were equally hit, with the S&P 500 crashing below 2,000 for the first time since February. Meanwhile, the pan-European FTSEurofirst 300 closed down three per cent, its worst one-day fall since October. Britain's top share [...]
From TfL Tube strike and Greek debt crisis to awful colleagues and FTSE woes: Here’s what got us talking this week August 21, 2015 There was a flypast. There was a bus in someone’s front garden. And somewhere – or perhaps everywhere – the sound of prosecco corks being popped overtook those of champagne. Here’s what got us talking this week 1. Our colleagues To be fair, it’s something we probably discuss most weeks, and we’re not alone. Perhaps that’s [...]