The pound clawed back more of the ground lost following the referendum on European Union membership this morning after the release of strong services sector data. Markit’s Business Activity Index rebounded to 52.9 in August, from 47.4 in July, sending sterling up 0.3% to $1.333. “Today’s improvements are in line with the string of robust
Sterling leapt 1.4% today as markets welcomed the restoration of some stability in British politics following the referendum on European Union membership. With Theresa May installed as prime minister, investor confidence in the pound was lifted and it hit $1.31 halfway through Tuesday after languishing in the high twenties before the news. Equities markets, particularly the
Richard Buxton has said the possibility of ‘Brexit’ is one of three big risks UK equities investors face this year. The manager of the Old Mutual UK Alpha Fund and CEO of Old Mutual Global Investors sees interest rate rises and manufacturing weakness as the other two main worries. “A serious risk facing investors in UK
With a Federal Reserve interest rate rise looming large and the Bank of England believed to be not a long way behind, there is an obvious case to be made that UK commercial property has had its time in the sun for now. This is not necessarily the reality though with some seeing plenty of
What has generally been considered a rock-solid, safe but boring bet has turned into the most interesting name on any index, at least for this week and the next few. Germany’s famous car maker saw its shares plummet around 30% as the news hit markets, but it has already recovered a big chunk of that
