12072016Wed
Last update: Wed, 07 Dec 2016 05pm

Europe

Markets - FXMM - Europe

Sterling jumps as government loses Brexit ruling LONDON: Sterling surged by more than 1 percent on Thursday after a UK court ruled against government plans to begin the formal process of leaving the European Union without seeking the approval of parliament. The ruling offered hope to investors who worry Prime Minister Theresa May's cabinet is set on a "hard Brexit" and believe it might be tempered by a stronger hand for MPs, a majority of whom supported the status quo in June's referendum.Sterling rose above $1.24 for the first time in more than three weeks and European banking stocks, another big source of concern in the process, gained 1.5 percent. UK midcaps, more geared to the domestic economy than their bluechip peers, jumped nearly 2 percent, significantly outperforming the more globally-focused FTSE 100. The daily spread between the moves of the two indexes was poised to hit its highest since 2009. "The High Court ruling ... is ...

Markets - FXMM - Europe

Trump worries hit dollar; pound boosted by Brexit court ruling LONDON: Politics dominated currency markets on Thursday as US election worries kept the dollar weak against the yen while sterling rose more than one percent after a UK court ruled parliament would have to approve the start of Brexit talks. The dollar recovered some ground to trade at less than $1.11 per euro, helped by a Federal Reserve meeting on Wednesday that again pointed towards a rise in interest rates next month, also likely to ...

Markets - FXMM - Europe

Sterling surges towards $1.25 after BoE statement LONDON: Sterling jumped 1.5 percent to a four-week high on Thursday as UK government bond yields shot up, after the Bank of England scrapped plans to cut interest rates and said the chances of a rate hike had risen. The pound reached $1.2488 after the BoE's inflation report, its strongest since Oct. 7 - the day a "flash crash" briefly sent sterling plunging 10 percent in a matter of minutes. That left it almost 2 ...

Markets - FXMM - Europe

Sterling gains after Brexit ruling goes against government LONDON: Sterling jumped briefly past $1.24 for the first time in more than three weeks on Thursday after a UK court ruled the government must seek parliamentary approval to begin the formal process of leaving the European Union. The pound rose by just under a full cent to $1.2450 before retreating on signs that, as many in markets had expected, the government could appeal the ruling at a hearing in early December."Sterling has rallied again ...

Markets - FXMM - Europe

Sterling jumps above $1.23 for first time in 3 weeks LONDON: The pound jumped to its highest in three weeks against a broadly weaker dollar on Wednesday as the greenback suffered from worries that Donald Trump would win the US presidential election. Sterling climbed after news that London's High Court will deliver its verdict on Thursday on whether British parliament as a whole - rather than just the ruling Conservative government - must invoke Article 50, which will begin the formal process of leaving the ...

Markets - FXMM - Europe

Dollar slumps, yen and franc surge as Trump rattles markets LONDON: The dollar slumped and the Swiss franc and Japanese yen surged on Wednesday as investors worried by the prospect of a Donald Trump presidency sought out safe havens for their money.The yen, driven lower in the past month as investors abandoned long-term bets on it strengthening past 100 yen per dollar, gained more than half a percent to hit its highest since Oct. 21 against the dollar.The franc hit its highest in a month ...

Markets - FXMM - Europe

Sterling hits 2-week high against broadly weaker dollar LONDON: Sterling hit a two-week high against a dollar weakened by worries about the U.S. presidential election on Wednesday, as investors waited for construction sector data for the latest clues on the health of the British economy.The battered pound has recovered almost 1 percent this week , boosted by the news that Bank of England Governor Mark Carney would extend his tenure until 2019.Carney's decision eased concerns about perceived attacks on the Bank's independence in ...