Shares in precious metals miners Randgold Resources (RRS), Fresnillo (FRES) and Polymetal (POLY) are among the major UK 100 beneficiaries of the US Federal reserve holding off from rising rates last night, at least for another few months. The Fed’s message was clearly designed to be a hawkish hold (“be prepared, it’s coming”) with talk…
The UK’s banks are putting in highly divergent performances on the UK 100 this morning. Why is this? Interest rate inaction from BoJ Governor Kuroda has been met with a rubbing of hands and a lick of the lips from globally present Barclays, the best performer on the index this morning up over 3%. Asian…
The upcoming OPEC-led meeting of the world’s leading oil producers in Algiers throws up the possibility of seeing a production freeze for the long-suffering crude oil market. With prices in the midst of a $45.5 to $50 price range this September, the potential for a reaction from Saudi Arabia et al. during the September 26-28…
The UK 100 looks set to close 1% to the bad this week, maintaining its downtrend from late last week. However, it would be grossly unfair to leave you thinking only negatives as we move into the weekend. Even if the media does its best in tomorrow’s papers to focus on the handsome group of…
Shares in Royal Bank of Scotland (RBS) are proving the biggest drag on the UK’s UK 100 index this morning. This is after overnight news of a $14bn US legal challenge against German giant and sector peer Deutsche Bank for the mis-selling of retail mortgages backed securities (RMBS) that contributed to the financial crisis. This is never…
16 Sept Proactive Investors Accendo Markets said of the Deutsche news: “This is never good news for a sector so intricately linked, especially when aimed at making an example of Europe’s largest (it’s almost equivalent to its market cap!), suggesting that an end to all those years of litigation is a way off yet.” It added:…