06262016Sun
Last update: Sun, 26 Jun 2016 05am

Stocks and Bonds

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US Treasury prices jumped on Friday on safe-haven buying as rattled investors evaluated the repercussions of Britain's vote to leave the European Union, but bonds gave up some early gains in the US trading session. The British vote forced Prime Minister David Cameron to announce his intent to resign by October and dealt the biggest blow to the European project of greater unity since World War Two.

The following transactions member to member subsequently reported on Saturday (June 25, 2016).

The following were the cross transactions between client to client & financial institutions here on Saturday (June 25, 2016).

Britain has voted to leave the European Union, forcing the resignation of Prime Minister David Cameron and dealing the biggest blow since World War Two to the European project of forging greater unity. Global financial markets plunged on Friday as results from a referendum defied bookmakers' odds to show a 52-48 percent victory for the campaign to leave a bloc Britain joined more than 40 years ago.
Global stock markets lost about $2 trillion in value on Friday after Britain voted to leave the European Union, while sterling suffered a record one-day plunge to a 31-year low and money poured into safe-haven gold and government bonds. Oil prices slumped by more than 4 percent amid fears of a broader economic slowdown that could reduce demand. US crude shed $2.36 to $47.77 a barrel while Brent fell 4.7 percent to $48.50 before.
Finance Minister Ishaq Dar Friday said that economic parameters have recorded significant improvement over the last three years and it is time to accelerate the growth momentum of economy. He was addressing the Presidents of banks in a meeting held at State Bank of Pakistan. He highlighted that foreign exchange reserves position has improved significantly over last three years and appreciated the role of SBP and banks in this improvement.
India and Pakistan inched closer Friday to joining a regional security and economic bloc led by Russia and China, a move seen to boost the importance of the organisation. "We expect that our partners will be able to accede as quickly as possible, by our next meeting in Kazakhstan" next year, Russian President Vladimir Putin said after the two countries signed memorandums on joining, the Kremlin website said. Putin spoke at the summit in the Uzbek capital of Tashkent of the bloc known as the Shanghai Cooperation Organisation (SCO).