Market Pulse
FX round-up: Sterling cautious as Farage quits and markets mull Article 50
Sterling turned in cautious performances on major crosses as investors continued to mull the financial and economic implications of the non-binding Brexit referendum, while UK politics remained in a muddle.
UK GDP loss could reach 4.5% by 2019, IMF´s Lagarde reportedly says
IMF Managing Director Christine Lagarde reportedly said UK gross domestic product could be anywhere between 1. 5 and 4. 5 percentage points lower by 2019 than would have been the case had it remained within the European Union, CNBC reported.
Rio Tinto sells coal mine for A$1 as industry struggles
Mining giant Rio Tinto sold its interest in a coal mine in Australia for A$1 as the commodity market continues to struggle.
Free movement of people should not be negotiated, says Liam Fox
The free movement of people should not be part of Brexit negotiations about a trade deal with the European Union, according to a candidate for prime minster on Monday.
Europe close: Italian banks weigh, Basic Resources jump on stimulus hopes
European stocks fell on Monday amid low trading volumes due to the US Independence Day holiday, as investors continued to mull over the implications of Britain’s decision to leave the European Union and fretted about Italy´s banking sector.
London close: Stocks fall as Brexit fears drag on sentiment
UK equities closed lower on Monday as worries about the fallout of Brexit continue to weigh on sentiment.
Ryanair cancels 102 flights due to French strikes
Ryanair has cancelled 102 flights on Tuesday due to air traffic control (ATC) strikes in France, the airline said on Monday.
Angela Eagle says she will run against Corbyn if he doesn't quit
Labour’s Angela Eagle on Monday said she would run against Jeremy Corbyn as leader of the party if he refused to step down.
Fixed-income, global equity funds popular post Brexit
Fixed-income and global equity funds are enjoying an uptick in money inflows in the wake of UK's non-binding Brexit referendum, which sent jitters racing through investment community both before and since polling day.
FTSE 100 movers: Miners shine but REITs slump on Brexit-fuelled downgrade
London’s FTSE 100 was down 0. 8% to 6,527. 02 in afternoon trading as investors continued to mull over the implications of Brexit.
LSE shareholders approve Deutsche Boerse merger
London Stock Exchange said on Monday that shareholders have voted overwhelmingly in favour of its merger with Deutsche Boerse.
Italian government stands ready to aid banks, even against EU rules if necessary
Rome has made plans to inject funds into its ailing banking system should signs of severe systemic distress emerge, the Financial Times reported.
Andrea Leadsom launches bid to become Tory PM
Andrea Leadsom launched her bid to become the next prime minister and leader of the Conservative Party on Monday, vowing to follow through with Brexit and end the free of movement of people.
The 600 Group sells property, comments on Brexit exposure
The 600 Group has sold a property for £2. 0m, and advised shareholders of several factors that it says reduce the risks associated with post-Brexit trading.
UK construction PMI drops to seven-year low
The pace of UK construction slowed more than expected in June, data released on Monday showed.
Michael Woolley appointed CFO of EG Solutions
Michael Woolley has been appointed chief financial officer of optimisation software company EG Solutions with immediate effect.
London-listed REITs slump as Liberum downgrades on Brexit risks
Liberum downgraded its ratings on British Land, Land Securities, Intu Properties and Hammerson as it pointed to greater occupier uncertainty in London City offices and retail following the UK’s decision to leave the European Union.
Johnston Press to sell Isle of Man titles for £4.25m
Newspaper publisher Johnston Press has agreed to sell its titles on the Isle of Man to UK-based publisher Tindle Newspapers for £4. 25m in cash.
Aminex says Kiliwani North-1 output hits 30 mmcf/day
Aminex said that, over the weekend, gas production from the Kiliwani North-1 well in Tanzania reached 30 mmcf per day with stable pressure recordings at that rate.
Rose Petroleum subsidiary advances to Cuba deal talks
Rose Petroleum said wholly owned subsidiary Rose Gypsum Ltd has been selected to exclusively proceed into the detailed negotiations phase of a gypsum contract in Cuba.