Dwindling FX volumes – except for China – are a systemic risk as hedge funds abandon currency markets says BIS December 11, 2016 High-risk investors are abandoning the foreign exchange markets, potentially leaving the financial markets more vulnerable to systemic dangers, according to a group of top central bankers. The decline in foreign exchange volumes has also allowed China’s renminbi to gain market share, according to the Bank for International Settlements (BIS). Currency markets have “changed in favour of [...]
Optimistic investors see FTSE 100 edging higher in 2017 according to a new poll by Interactive Investor December 11, 2016 NEARLY three quarters of investors believe that the FTSE 100 index will continue to climb in 2017, with 35 per cent predicting it will end between 6,800 and 7,100. Interactive Investor, the online investment platform, conducted the poll of over 9,000 investors between 21 and 24 November. Rebecca O’Keeffe, head of investment at Interactive Investor, [...]
Spreadbetters wary of fresh clampdowns from watchdogs December 11, 2016 Spreadbetters are likely to be watching their backs this week, as financial watchdogs crack down on their market. The UK's Financial Conduct Authority (FCA) last Tuesday revealed it was planning to impose stricter rules on contract for difference (CFD) products, saying it was concerned customers did not fully understand the risks involved. German regulator Bafin followed suit [...]
Oil prices set to lift as non-Opec states including Russia and Mexico join efforts to pump up prices December 11, 2016 Oil prices are expected to jump this week after 11 oil-producing countries agreed on Saturday to join the Organisation of the Petroleum Exporting Countries (Opec) in an output cut. Kazakhstan, Russia, Mexico and Bahrain were among the non-Opec nations that agreed to reduce production by 558,000 barrels per day (bpd) for the first six months [...]
BP’s CEO has vowed to double North Sea oil production in the next four years December 10, 2016 UK’s oil major BP (NYSE:BP) will double its production in the North Sea to 200,000 barrels of oil per day, chief executive Bob Dudley said in an interview with Energy Voice in Aberdeen on Wednesday. “You will see portfolio changes for us in the North Sea, but you may see us invest in other projects [...]
At the close: FTSE 100 boosted by late Sky surge on 21st Century Fox takeover bid December 9, 2016 The FTSE ended the week looking very healthy indeed – its best week since July. It was up 22.66 points to 6,954.21 bolstered by a Sky surge. US media firm 21st Century Fox tabling a takeover bid for Sky of £10.75 per share in cash, prompted shares to rise sharply. Sky’s share price shot up [...]
IPOh yeah: How newly listed companies outperform the market December 9, 2016 It has been a tough year for London’s flotation market, with the number of big initial public offerings (IPOs) falling significantly on 2015 levels. In addition, there have been a raft of high-profile IPOs pulled by companies, which have cited challenging market conditions. But, according to a new study, the few companies that have completed [...]
Why this is a disqualifying offence for a value investor December 9, 2016 Some people apparently just will not be told. While past performance is no guide to the future, despite all the evidence a value-based approach outperforms over time, investors’ money is increasingly clustering in more non-value-oriented offerings – sometimes known as ‘growth’ but probably more accurately called ‘momentum’ funds. The current situation is starkly illustrated by the following [...]
Spreadbetters hit again as German regulator announces a clampdown December 8, 2016 Times got tougher for spreadbetters today as the German regulator revealed plans for more red tape for the market. Bafin's announcement that it is preparing to apply more rules to the market for contracts for difference (CFDs) comes just two days after the Financial Conduct Authority (FCA) unveiled similar plans. In particular, Bafin is concerned price fluctuations might [...]
Oil rises ahead of weekend meeting between Opec and non-Opec producers December 8, 2016 Oil markets were choppy today as traders got jittery ahead of a weekend meeting of Opec and non-Opec producers. Prices dipped in London afternoon trading after Russian news agency Tass reported the meeting, due to be held this Saturday in Vienna, could be postponed. However, a Russian energy ministry spokeswoman later said there were no [...]