05272016Fri
Last update: Fri, 27 May 2016 11am

Europe

Markets - FXMM - Europe

Sterling hedging cost highest since 2009 before Brexit vote LONDON: The cost of hedging against swings in sterling rose to seven-year highs on Thursday while currency options indicated strong demand from investors betting on the pound's weakness less than a month before a British vote on EU membership.While betting markets suggest Britons will opt to remain in the European Union, most polls are neck to neck, though of late they show that those wanting to stay are edging ahead.But hedge funds and asset managers are taking no chances, seeking to protect their exposure to UK markets through the derivatives route.Some of the latest opinion polls hint at a robust lead for the "Remain" campaign although traders are wary of a sharp sell-off if there are any indications that the "Leave" camp is gaining ground before the vote. As such, many remain cautious and expect more volatility in coming weeks.Many analysts reckon a vote to leave the EU on June ...

Markets - FXMM - Europe

Russian rouble stronger as Brent rises over $50/bbl MOSCOW: The Russian rouble traded stronger early on Thursday, helped by the Brent crude price rising over $50 a barrel and a slightly weaker U.S. dollar on global markets.At 0715 GMT, the rouble was 0.4 percent stronger against the dollar at 65.22 and had gained 0.3 percent to trade at 72.87 versus the euro.Brent, a global benchmark for Russia's main export, rose over $50 for the first time in nearly seven months.It was up 0.6 ...

Markets - FXMM - Europe

Sterling drops after data shows UK business investments slowing LONDON: Sterling retreated from 3-1/2 month highs against the euro and fell against the dollar on Thursday after data showed business investment in Britain dropping in annual terms for the first time in three years amid uncertainty around the Brexit vote.The Office for National Statistics confirmed the economy grew 0.4 percent in the January-March period, as expected in a Reuters poll. Business investment fell by 0.4 percent year-on-year in the first quarter after rising 3.0 ...

Markets - FXMM - Europe

Sterling 1-month hedging costs at 7-year high as Brexit vote looms LONDON: The cost of hedging against swings in sterling rose to seven-year highs on Thursday while currency options indicated record demand from investors betting on the pound's weakness with less than a month to go to a British vote on the European Union.While betting markets suggest Britons will opt to remain in the EU, most polls are neck to neck, though of late they show that those wanting to stay are edging ahead. Hedge funds ...

Markets - FXMM - Europe

Russian rouble stronger as Brent rises over $50/bbl MOSCOW: The Russian rouble traded stronger early on Thursday, helped by the Brent crude price rising over $50 a barrel and a slightly weaker US dollar on global markets. At 0715 GMT, the rouble was 0.4 percent stronger against the dollar at 65.22 and had gained 0.3 percent to trade at 72.87 versus the euro.Brent, a global benchmark for Russia's main export, rose over $50 for the first time in nearly seven months.It was up ...

Markets - FXMM - Europe

Sterling 1-mth hedging costs at 7-year high as Brexit vote looms LONDON: The cost of hedging against sharp swings in sterling over the next month rose to seven-year highs on Thursday as options contracts rolled over to capture the date of the result of the British vote on the European Union. With less than a month to go before the vote, expectations are growing that Britain will opt to stay in the EU. Nevertheless, hedge funds and asset managers are not taking chances by seeking to ...

Markets - FXMM - Europe

Serbia's central bank sells euros to support dinar BELGRADE: The Serbian central bank sold euros on the local interbank market on Thursday to support the dinar, which remained weak a day after the institution sold 15 million euros to bolster the domestic currency, dealers said. The central bank, which keeps the dinar in a managed float versus the euro, began selling as the dinar traded at a rate of around 123.15, roughly the same as a day earlier.Dealers said the pressure on the ...