European banking shares skid lower as FTSE 100 sinks June 10, 2016 European banking shares finished sharply lower today, making their biggest intraday decline since the beginning of February. The Stoxx 600 Banks index finished 4.2 per cent lower, its biggest one-day fall since 11 February. It was pushed down by the likes of Deutsche Bank, which skidded 4.6 per cent to €14.06, and Credit Suisse, which fell 3.8 per cent [...]
120,000 UK jobs lost from the oil price crash June 10, 2016 Over 120,000 jobs are expected to have been lost between 2014 and the end of this year because of the severe hit inflicted on the UK oil industry from tumbling global prices. The strain of low oil prices has caused massive layoffs and cost-cutting across the sector and in related industries over the last 24 months. New employment figures released [...]
Magazine publisher ignores London IPO Time Out to target pre-referendum float June 9, 2016 Time Out magazine is planning to float on the alternative investment market (Aim) next week, with an initial public offering (IPO) valuing the company at £195m. The magazine publisher said it will issue 60m ordinary shares at 150p, raising £90m in gross proceeds. Liberum Capital is acting as Time Out’s nominated adviser and sole bookrunner. Read [...]
Why an England Euro 2016 defeat will wipe billions off stock markets June 9, 2016 After a disappointing 2014 World Cup, the nation is eagerly awaiting the start of Euro 2016. With a 100 per cent record in the qualifiers, and currently priced at 8/1 fourth favourites, England are quietly confident that they can at least emulate their semi-final appearance 20 years ago. But it shouldn’t only be football fanatics [...]
Oil prices rise despite US stockpile data on China demand and Nigerian production problems June 8, 2016 Oil prices have risen for a third consecutive day today, hitting eight month highs. The rise is in spite of US data showing a surprise build in petrol stockpiles. On-going production problems in Nigeria, as well as a better outlook for demand in China spurred on the market. Gasoline stocks added one million barrels. Analysts had pencilled in a fall. Inventories of crude [...]
At the close: FTSE 100 makes it four positive days on the bounce as commodity prices climb June 8, 2016 A rebound in commodity prices gave a boost to the resources and energy heavy FTSE 100 today, moving it ahead of European markets. The index rose by 16.99 points, or 0.3 per cent, to 6,285.21 points, making today its fourth positive session on the bounce. Oil prices continued their recent rally, climbing to their highest price in around eight months. [...]
Now you can trade shares on Facebook Messenger with chatbots June 8, 2016 As if Facebook weren't already taking over your life (and the rest of the world), soon, it could be the place where you're trading shares. An online broker in Britain has revealed that it completed a live share trade using the messaging app – understood to be a world first – and plans to make this widely [...]
Turkish delight: McVitie’s owner melts biscuits into same £3.6bn company as Godiva June 8, 2016 McVitie’s biscuits have been melted into the same company as chocolatier Godiva. Yildiz Holding, the Turkish owner of Godiva Chocolatier, Ulker, DeMet’s Candy Company and McVitie’s maker United Biscuits, has brought the brands together to form Pladis. The $5.2bn (£3.6bn) revenue company will be London-headquartered and aims to float on the London Stock Exchange as a FTSE 100 firm as [...]
UK set to miss out on Euro 2016 stock market bump June 8, 2016 As national teams land in France ahead of Euro 2016, city workers may be looking forward to letting one eye drift from the Bloomberg terminal towards live blogs and TV coverage. However, while summer is usually seen as a quiet period for the stock markets, CMC Markets have found that performance at the tournament could drive performance [...]
Brent crude and WTI: US oil hits fresh 2016 high on softer dollar, supply outages June 7, 2016 Oil prices raced to a fresh 2016 high today, energised by expected falls in crude stockpiles and supply outages. Brent crude, the global benchmark, swelled 1.2 per cent to $51.17 per barrel this afternoon, after hitting an intra-day peak of $51.30 earlier, its highest since October. West Texas Intermediate crude, the US benchmark, jumped 0.8 per cent to [...]