Gold is up ahead of Trump’s inauguration and May’s Brexit speech January 16, 2017 Gold prices were up 0.48 per cent in morning trading, rising above $1,200 per ounce as political uncertainty looms. Ahead of Donald Trump's inauguration this week, gold was trading at $1,201.90 per ounce, on course for its sixth straight session of gains, while the US dollar weakened, analysts at Accendo Markets said. Read more: Trump's golden flowering: [...]
The company behind the Airlander “flying bum” is planning to IPO in London January 16, 2017 The British company behind the world's biggest airship is planning to list on London's junior market. Hybrid Air Vehicles, the maker of the Airlander hybrid aircraft nicknamed the flying bum for its appearance, will seek to raise £50m with a float pencilled in for the end of 2017 or early 2018 on London's Alternative Investment Market. HAV [...]
Has the bond bull run’s bubble burst? Unpicking the Trump effect and other influences that will shape the bond market in 2017 January 16, 2017 The election of Donald Trump as US President shocked the world and shocked the world’s markets. Yet that early reaction quickly morphed into euphoria, as stock indices in America experienced huge inflows and hit record highs. For investors left high and dry as trillions of dollars drained from safer fixed income bonds into riskier equities, the [...]
Sterling falls below $1.20 as Pacific markets open following reports Theresa May will pursue hard Brexit January 15, 2017 The pound slumped more than one per cent to a three-month low this evening, on fresh concerns the government is preparing to pursue a hard Brexit. As market trading resumed in Australia and New Zealand, sterling fell by as much as 1.6 per cent to $1.1983, taking it below $1.20 for the first time since the [...]
Volatile sterling can’t stop FTSE set for second week of records January 13, 2017 The FTSE 100 looked set to round out a second week of record gains at lunchtime on Friday, as sterling performance wobbled in volatile trading. Sterling rose as high as $1.2233, but cable has since retreated to trade almost flat at the time of publication. Performance against the euro has fallen more steeply, with losses [...]
Out-of-depth traders among reasons for the seriousness of last year’s sterling flash crash January 13, 2017 The bank for central banks has today pointed the finger at inexperienced traders as one of the causes of last October's sterling flash crash. On 7 October last year, sterling plummeted around nine per cent against the US dollar in the early hours of trading in Asia, although it bounced part way back again quickly [...]
Turkish lira resumes its sell-off after brief rally on tightened liquidity from central bank January 13, 2017 The Turkish lira has suffered a fresh sell-off after briefly rallying against the dollar from record lows when the country’s central bank moved to tighten liquidity. The US dollar rose against the lira on Friday by over 1.5 per cent to over 3.8272 Turkish lira. The dollar had strengthened to record highs of 3.9415 Turkish [...]
Why banks could actually prove a less stressful part of your portfolio January 13, 2017 | City Talk Market consensus tells us the banking sector remains a risky place for investors to put their money. After all, the prevailing wisdom runs, banks are cyclical, poorly capitalised and in lousy shape for the next downturn, as and when it comes. Of course, as contrarian investors, we believe market consensus and prevailing wisdom primarily exist [...]
London set for biggest IPO in six years as warehouse giant plots 2017 float January 12, 2017 London is set for its biggest float in more than half a decade, Morning Wire can reveal. Private equity giant Blackstone is aiming to list warehouse business Logicor, which is valued at around €13bn (£11bn), on the London Stock Exchange in 2017. Sources told Morning Wire the initial public offering (IPO) could come in the first [...]
Rising sterling pushes down FTSE on big day of results for retailers January 12, 2017 A strengthening pound pushed the FTSE 100 slightly down from its record opening level amid a slew of results from major retailers. The pound rose as high as $1.2317 against the US dollar as greenback continued its retreat from 14-year highs. Sterling was broadly flat against the euro in morning trading. The FTSE was broadly [...]