Welcome back: Aberdeen Asset Management lifts suspension on property fund July 13, 2016 Aberdeen Asset Management has today lifted the suspension on its property fund, one week after several asset managers put the brakes on their funds. Last week, Aberdeen announced that it would be suspending trades on its Aberdeen UK Property Fund and the Aberdeen UK Property Feeder Unit Trust to protect the value of the fund for [...]
Bull or bear? FTSE’s in a bull market but bond investors are predicting gloom July 13, 2016 Investment markets are being driven by two trends, as bonds predict a gloomy outlook of low growth, but optimistic equities surge into a bull market. The FTSE 100 closed above 6,282 this week, a rise of more than 20 per cent from the low of 5,537 it touched on 11 February. A bull run’s a promising [...]
Oil slide leads to call from RAC for savings on the forecourt July 13, 2016 Motoring group the RAC is wasting no time in jumping on the falling oil price to urge retailers to slash prices at the pumps. The price of oil has dipped lately on fears of a global slowdown in demand and an uptick in supply from the likes of Iran and Saudi Arabia. A barrel of [...]
Opec has warned that the Brexit vote will weigh on European oil demand as it pumps more oil than at any time in recent history July 12, 2016 Diminished former oil cartel Opec has cautioned the UK's recent vote to quit the European Union could dampen oil demand across the continent. The warning comes alongside data that showed Opec countries between them pumped more oil than at any time in recent history, sparking fears the supply glut may not clear in the second half of the year. The [...]
The pound is on its best run against the Japanese yen in three years July 12, 2016 Sterling is on course for its best performance against the yen in over three years after Theresa May was named as the successor to Prime Minister David Cameron. A 1.9 per cent rise for the pound sent it to a one-week high of $1.3246, while against the safe haven Japanese yen sterling climbed almost four per [...]
Oil hovers rebounds from two-month low as traders eye Opec monthly report July 12, 2016 Oil pushed away from a two-month low today as supply squeezes threatened to re-emerge. Brent crude, the global benchmark, jumped 1.82 per cent to $47.09 per barrel this morning. Meanwhile, West Texas Intermediate crude, the US benchmark, swelled 1.52 per cent to $45.44. Read more: UK's largest oil and gas engineer Amec clinches two North Sea contracts Traders told Reuters that this [...]
UK’s largest oil and gas engineer Amec clinches two North Sea contracts July 12, 2016 Amec Foster Wheeler said today that it has won two North Sea contracts with oil explorer Repsol Sinopec. The FTSE 250-listed firm has agreed to provide labour at seven offshore sites across Scotland, in addition to looking after the modifications and repairs. Read more: Oil further below $50 as economic storm clouds gather over Asia Both contracts are for [...]
Why it could be a happy summer for stock market investors July 12, 2016 Are risk assets shaping up for a summer rally? That’s the question investors are asking themselves after Friday’s non-farm payrolls report. It’s raising hopes that the US economy is on a more stable footing than thought. It’s good news for risk sentiment – provided the Federal Reserve holds the line in commentary this week with [...]
Foreign currency: With sterling down against the euro and US dollar, here’s how to make your holiday money go further this summer July 12, 2016 Unless you’re holidaying in South Africa, Brazil, Russia or a number of other countries whose currency has fallen more steeply than sterling this year, you should brace yourself for considerable increases in the cost of hotel rooms, car hire and dining out. Market uncertainty around Brexit has led sterling to fall against a basket of other [...]
Well, this is awkward: Sterling leaps as Leadsom announces she is quitting Tory leadership race July 11, 2016 Andrea Leadsom may well fancy a holiday after her short-lived campaign for the Tory top spot, and she'd get a good rate if she hurries to the Bureau De Change too. The pound surged against the dollar as the Tory leader hopeful announced that she was pulling out of the race. Read more: Theresa May set to be appointed [...]