As the CBI upgrades its forecasts, is stronger UK growth sustainable amid global turmoil? August 24, 2015 Vicky Pryce, chief economic adviser at CEBR, says Yes After three per cent growth last year, the UK is continuing to perform better than many other Western economies. The CBI’s upgrade of its growth forecast from 2.4 per cent to 2.6 per cent for the whole of 2015 builds on a couple of quarters of [...]
Black Monday: Equities bloodbath continues on US markets as Dow Jones and S&P 500 plummet August 24, 2015 US markets continued the trend set by global markets, plummeting in mid-morning trading, with the the S&P 500 and Dow Jones both trading more than four per cent down. That followed huge falls in Asia and Europe, with the FTSE 100 tumbling below 6,000 for the first time since 2012, while stocks in China fell [...]
Black Monday 2015: Biotech firm RainDance Technologies cancels IPO following global sell-off August 24, 2015 US biotech firm RainDance Technologies has pulled out of plans to publicly list on Nasdaq. Read more: Black Monday: Bloodbath continues on US markets as Dow Jones and S&P 500 plummet In a regulatory filing released today, the Massachusetts-based company cited the fall in global markets as the reason for its decision. The [...]
Black Monday: Shares in National Bank of Greece, Eurobank and Piraeus are collapsing August 24, 2015 Share prices at Greek banks have fallen by more than a quarter as the combination of the global crash and uncertainty around a Grexit weight heavy on the financial sector. Athens Stock Exchange had fallen by seven per cent in mid-afternoon trading – but it was the banks that were hit hardest. The [...]
Black Monday: Gordon Brown’s former spad Damian McBride thinks you should stockpile food and water to ride out the crash August 24, 2015 Worried about Black Monday? You're not the only one. Although you might not be reaching the same conclusion Damian McBride has. Gordon Brown's former spad has tweeted some urgent advice on the back of this morning's stock market tumbles – and it sounds like he is taking the crash pretty seriously. If any [...]
The “fear index” Vix soars to highest level in years as Asian, European stock markets slump August 24, 2015 The so-called fear index has jumped to its highest level in years this morning as markets in Asia and Europe slumped. The Vix index leaped to 28.03 points in mid-morning trading, up 46.45 per cent, having opened up 22.55. Its European counterpart the VSTOXX has also shot up, peaking at a high of 35 in [...]
Black Monday: Billions wiped off FTSE 100 as it falls below 6,000 after China shock August 24, 2015 The FTSE 100 fell below the psychologically significant 6,000 mark this afternoon for the first time since 2012, after stocks in China closed more than eight per cent lower. The market dipped below 5,900 points, more than five per cent lower, at lunchtime, its lowest point this year. Meanwhile, Germany's Dax fell 4.5 per cent and [...]
Oil prices hit six-year lows as global commodities rout continues August 24, 2015 As global equities continue to plummet, commodities are doing the same. After Bloomberg's commodity index sank to a 16-year low overnight, oil prices continued their rout this morning, with both WTI and Brent crude falling to six-and-a-half year lows. Read more: Black Monday? FTSE edges towards 6,000 Brent crude was down 3.65 per cent at [...]
China’s economic slowdown: There’s been blood on the trading floor this Black Monday – but should we be afraid of what’s to come? August 24, 2015 The Chinese government and regulators are currently learning some of the more harsh lessons that their Western counterparts have found out over the last century or so. You can fight free markets as much as you want but sooner or later you will lose. Monday’s 8.5 per cent fall in the Shanghai Composite, when [...]