Brexit deal defeat triggers huge uncertainty: what next? January 16, 2019 | City Talk Sterling rose in vote aftermath from €1.115 to €1.128; FTSE 100 fell more than 40 points in early trading In event of no deal, Schroders forecasts 2019 UK recession Market expectations that soft Brexit is now more likely seem premature Azad Zangana, Senior European Economist & Strategist, says: As had been widely expected, parliament has [...]
Shares in asset manager Ashmore fall amid ‘challenging’ emerging markets January 15, 2019 Assets under management at Ashmore Group edged upwards in the three months to 31 December against “challenging markets”, the asset manager said in a trading update today. The emerging markets specialist saw the value of its funds rise $300m (£235.2m) to an estimated $76.7bn. Read more: Top adviser joins firm aiming to ‘open up’ emerging markets The [...]
Ethereum hard fork: What is it, when will it happen and what will it do to prices? January 15, 2019 Tomorrow marks the first major event in the world of cryptocurrencies in 2019, which could bring about a range of consequences from price swings to falling user numbers. But what do analysts think will actually happen? The so-called hard fork, which will see the Ethereum network upgrade its code to sit on a new version [...]
Brexit: How the pound might react to parliament’s crunch vote tonight January 15, 2019 Sterling has been plagued by volatility in recent months as uncertainty around Brexit has heightened. Theresa May's withdrawal agreement has come under pressure from all sides, and she was forced to postpone a December vote on her deal until tonight, when MPs will get their say at 7pm. But what will happen to the pound? [...]
Profiting from the retail revolution: What’s hot and what’s not? January 15, 2019 It turns out that so-called Super Thursday wasn’t so super after all. Despite being lauded as a day when retailers boast strong figures from the festive period, last Thursday proved to be a mixed basket of results. With consumers feeling the pinch and Brexit-sized uncertainty looming large over the high street, it’s not surprising that [...]
Brexit high noon spells danger for currency traders January 15, 2019 Theresa May’s ultimate showdown has finally arrived. The high-stakes parliamentary vote on her Brexit plans is due later today, and the outcomes vary wildly – from soaring success to complete political collapse. Currency traders lie in wait, hoping not to be caught on the wrong side of a sterling trade, which could whip wildly in [...]
Premier slips on oil spill as financing reports hit share price January 14, 2019 Premier Oil tried to calm stormy markets today as its shares dropped as much as 12.5 per cent after reports it was considering issuing more shares to buy oil fields in the North Sea. The company said it was looking at potential sites in the UK, but stressed it had not yet decided to bid [...]
Newmont forms world’s largest gold miner with $10bn deal for Goldcorp January 14, 2019 Newmont Mining Corporation will balloon to become the world’s largest gold company as it buys Goldcorp in a deal valued at $10bn (£7.8bn). The share-based deal will produce a new global behemoth, bringing together two companies who produced a combined 7.9m ounces of gold in 2017, giving it strong leverage over global gold prices. Read more: Shareholders [...]
Bank earnings the next big threat to Buffett’s portfolio after Apple profit warning? January 14, 2019 | City Talk Warren Buffett may invest for the long haul, but surely any money manager must wince at the thought of losing a $4 billion chunk of their portfolio. Apple shares tanked at the start of the year after CEO Tim Cook issued the company’s first profit warning in 12 years, blaming the US-Sino trade war and [...]
Stock markets slide as Chinese data reveals impact of US-China trade war January 14, 2019 European stock markets have tumbled after weak Chinese trade data laid bare the impact of the US-China trade war. China’s export and import figures fell dramatically in December, going against analysts’ predictions of a rise. Read more: Markets lift as US-China talks reach conclusion Negotiations between the two nations concluded last week without a resolution, although [...]