Time Out’s share price flops on London market debut June 14, 2016 Time Out Group, the 48-year-old city guide publisher turned food market owner, is not having the best start to its life as listed company. Shares fell as low as 133p, more than 10 per cent below its 150p flotation price, this morning. There was a slight up-lift directly after the open but it could not be [...]
FTSE 100 drops below 6,000 to new three-month low on Brexit fears June 14, 2016 The FTSE 100 crashed below 6,000 points this morning as investors fled from risky assets in the run up to the EU referendum. The benchmark London index sank 1.3 per cent in the first 90 minutes of trading to stand at 5,967, below the key 6,000 barrier last breached in February. Already at a three-month low, [...]
Oil falls back below $50 as global growth fears weigh June 14, 2016 Oil tumbled today as global growth fears cast a dark cloud over signs that the embattled market could be starting to recover. Brent crude, the global benchmark, slumped 1.30 per cent to $49.70 per barrel, dropping for the fourth consecutive day. Meanwhile, the US benchmark, West Texas Intermediate crude, shed 1.40 per cent to $48.20. Read more: 120,000 UK jobs lost [...]
Brexit concerns prompt market’s fear index to hit highest level in three months June 13, 2016 Wall Street’s CBOE Market Volatility Index (Vix) aka the Fear Index crossed the 19-level for the first time since 10 March thanks to jitters in the global market including Brexit concerns. Vix, a yardstick for measuring fear or volatility in financial markets, added 2.56 points or 15 per cent to 19.59. Factors that affected the index [...]
At the close: FTSE 100 sinks as Brexit fears send sterling to two month lows June 13, 2016 Resource stocks made up the majority of only a handful of risers on the FTSE 100 today as investors fretted over Brexit and sterling took a beating. The FTSE 100 closed at 6,044.97 – down 1.16 per cent on the day – and at its lowest level in three months. In March it was trading as low as 6,036, though had [...]
Opec keeps global oil demand forecast unchanged, sending the price of oil off its recent highs June 13, 2016 The one-time global oil cartel Opec (the Organization of the Petroleum Exporting Countries) has kept its forecasts for global oil supply and demand unchanged. The 13-member oil producing group reckons the second half of 2016 will continue to see oil markets rebalancing after the price of oil almost doubled in the first six months of the year – from [...]
EU referendum: Sterling and FTSE fall as Brexit fears weigh June 13, 2016 Brexit jitters have hit markets and sterling this morning with just 10 days until the UK goes to the polls. The FTSE 100 shed over one per cent as it opened before settling slightly near 0.5 per cent down. "Sliding bond yields, growth concerns and more opinion polls showing the Leave camp solidifying their lead in the [...]
UK Oil and Gas Investments’ share price leaps over six per cent – then falls back as firm buys further acreage in the Weald Basin June 13, 2016 UK Oil & Gas Investments (Ukog) has paid £3.5m to buy another licence in the Weald Basin, near Gatwick Airport. Shares in the company were up 6.35 per cent as trading began this morning, but have since fallen back and are currently down 1.11 per cent. Ukog previously announced it had discovered a massive amount of oil [...]
Meet the man behind the Uber of the exchange world June 13, 2016 In less than eight years, Bats Europe has gone from being a one-man operation in a Canada coffee shop to the largest stock exchange on the continent by market share and value traded. But despite its growth, the company’s chief executive – and first employee – Mark Hemsley still likes to emphasise its small business charm. “We’re not [...]
Asian stocks fall amid fears UK will vote to leave the European Union June 13, 2016 Financial markets are preparing for falls today after Asian stocks experienced the biggest intraday falls in over two months due to building worries that Britain may vote to leave the European Union in the upcoming referendum. The pound suffered when trading opened. Sterling fell to $1.4159 in early Asian trade, its weakest since April 18. There [...]