Canada is the world’s best-performing investment market this year July 5, 2016 Canada has been the best-performing stock market in the world this year, defying the knock-on effects of Brexit carnage to give investors double-digit returns. The MSCI Canada index has risen 15.5 per cent year to date in US dollar terms compared to just 1.6 per cent from the MSCI All Countries World index. Many global stock [...]
Before the bell: What you need to know before the US market open July 5, 2016 The Bank of England has slashed its capital requirements for UK banks, the pound is at a new 31 year low, and Australia's central bank has held interest rates unchanged at 1.75 per cent. Here's what you need to know before the US open at 2.30pm London time. US futures are pointing south after coming back from [...]
Roar: Dragon Capital brings Vietnam investment opportunity to the world – via London July 5, 2016 The London Stock Exchange today welcomes a new entrant at a time when several firms are understood to be postponing and calling off flotations after the UK’s Brexit vote. The flagship fund of investment management company Dragon Capital, Vietnam Enterprise Investments Limited (VEIL), today begins trading on the main market with a launch price of 250p. [...]
Columbia Threadneedle commits to London as asset managers plan Brexit discussions July 4, 2016 Fund manager Columbia Threadneedle has committed to keeping its European headquarters in London after Brexit. The company confirmed it has “begun the process of applying to expand the scope of our Luxembourg-based management company to enable us to establish an asset management presence in the EU”. Read more: Brexit is not proving an asset to [...]
Trading suspended on UK real estate fund after post-Brexit vote outflows July 4, 2016 Trading has been suspended on Standard Life Investments’ UK real estate fund in response to increased outflows. The suspension, which came into force at midday on Monday, is in response to “exceptional market circumstances” after the UK’s Brexit vote. Read more: Commercial real estate share prices hit as future of City looks uncertain The company [...]
Week ahead: Brexit fears set to hang over FTSE earning reports July 4, 2016 The market is bracing itself for a slew of Brexit induced profit warnings this week as we enter the early stages of reporting season. After the UK’s shock vote to leave the European Union triggered a sharp sell off, the FTSE 100 has rebounded strongly – pushed on by international earners. The blue-chip index ended [...]
Retail investors snap up shares in bumper week for trading platforms amid Brexit volatility July 1, 2016 Last week's referendum sparked waves of volatility on the financial markets, triggering interventions from the Bank of England and causing trading to be suspended on a handful of the UK's biggest companies. Banking shares were butchered. Housebuilders were demolished. But, the FTSE 100 now stands at a 10-month high after it became clear some of the big [...]
At the close: Just as things settle down Carney makes sure everyone’s still on their toes June 30, 2016 Just as the political situation had stolen the limelight from the markets in the aftermath of the UK's vote for Brexit, Mark Carney grabs it back. Carney, the governor of the Bank of England (BoE), told markets earlier this afternoon to expect a cut in interest rates as he warned the economy was in for a period of [...]
Before the bell: What you need to know before the US market open June 30, 2016 The Fed's stress tests were failed by two European banks further buffeting stocks hit by the Brexit vote, while Wall Street lenders have announced share-buyback plans. Here's what you need to know before the US market open at 2:30pm London time. Futures are pointing down ahead of the open, with the S&P off by 0.16 per [...]
Buyout giant raises £5.7bn for European fund June 29, 2016 European private equity firm Cinven has raised €7bn (£5.7bn) from investors for its sixth fund. The fund was raised in four months and was oversubscribed for its original target of €5.5bn. Cinven’s last raising put together a fund of €5.7bn in December 2014, and led to investment in 17 companies, and 40 acquisitions. Over 90 [...]