Aberdeen Asset Management poised to take advantage of weakness in wake of Brexit vote July 25, 2016 Aberdeen Asset Management is better placed than its competitors in the wake of a spate of investment fund redemptions according to chief executive Martin Gilbert. Speaking to City A.M. this morning, Gilbert said: “We are very much an emerging markets house, so theoretically we should come out of it better. Much more so than some [...]
Galliford Try’s share price jumps seven per cent after company announces it will meet targets July 12, 2016 Galliford Try's share price jumped seven per cent today after the housebuilder shrugged off Brexit woes and announced it will be meeting targets when it posts its full year results in September. Housebuilders have been hit by some of the worst FTSE falls since the referendum – but Galliford Try has been an exception to [...]
Embrace road pricing to build the infrastructure we actually need without government borrowing October 27, 2016 It is odds on that Philip Hammond will announce in the Autumn Statement that government spending constraints will be relaxed to facilitate investment in infrastructure. We will be told that the government should borrow and invest more and that this will promote growth in the long run. This argument might have merit if it were not for [...]
Housebuilding shares are being hammered by Brexit June 24, 2016 Shares in FTSE 100-listed housebuilders were hammered in early morning trading as investors panicked over the outcome of the EU referendum. Shares in Taylor Wimpey lost a third of their value, falling to 128.9p in early trading, while Persimmon fell 27.5 per cent to 1,520p and Berkeley Group fell 26.9 per cent to 430.2p. Meanwhile, Berkeley [...]
The first item in Theresa May’s in-tray: A Brexit-induced recession July 11, 2016 Theresa May will be the next UK Prime Minister, and sterling and the FTSE 250 rose almost immediately. Markets think that May will be more pro-EU than Andrea Leadsom, the tribune of the europhobic Tory grass roots. But don’t imagine that domestic political uncertainty was the only reason for the recent falls in the currency [...]
Before the bell: What you need to know before the US market open August 24, 2016 It's another scorcher in London and the FTSE 100 is feeling the heat, though European markets are broadly mixed as they digest the Bank of England's latest bond-buying spree. Here's what you need to know before the market open at 2:30pm London time. The S&P is up by 0.8 per cent in the pre-market, while the Nasdaq [...]
Philip Hammond has warned against attempts to lure key financial services sectors to mainland Europe after Brexit September 8, 2016 Chancellor Philip Hammond has hit back at Francois Hollande after the French president suggested that euro clearing could move to Continental financial centres in the aftermath of Brexit. Just days after Britain voted to leave the EU, Hollande said that “other financial centres in the bloc'” should prepare to carry out euro clearing if Britain [...]
Say what you like about the EU referendum – but Brexit isn’t going to hit UK house prices June 13, 2016 Why leaving or staying will have no impact on house prices In the run-up to next Thursday’s referendum, there have been some flabbergasting claims made by both sides. Suppositions made include the premise that leaving the European Union would lead to war and recession (although it was not made clear in what order these will [...]
Nearly a fifth of Londoners are less likely to sell their home post-Brexit June 29, 2016 Nearly a fifth of Londoners say they are less likely to sell their property after Britain voted to leave the European Union. A survey of UK homeowners found an average of 12 per cent are less likely to put up a 'for sale' sign in the next three years – and the figure rises to 18 per cent of [...]
There’s no reason London can’t stay the number one global financial centre outside the EU July 4, 2016 The chancellor’s press conference last week reassured the markets in a volatile period. He said that the UK economy faces these fresh economic challenges from a “position of strength.” This is a point I have reiterated many times over the past few days, when visiting the economic hubs of Dallas and Chicago. The most frequently [...]