Monthly Archives: June 2016

Gedesen Holdings Limited: situation in France will improve

Capital Gains Tax changes are going to attract new customers to real estate market. Changes will be made for locals and foreigners, Gedesen Holdings reports. CGT (Capital Gains Tax) has been changed to produce healing effect on real estate market of France. Formerly the property owners had to pay CGT each year (up to 40% each year) Non residents of…

Mexico raises rates to shore up peso

©Dreamstime Mexico’s central bank announced a higher than expected 50 basis point hike in its benchmark interest rate to contain inflation and shore up a peso that has taken a beating since Britain voted to leave the EU a week ago It was the second time this year that the Bank of Mexico, or Banxico, led by Agustín Carstens, had…

Soyabean and corn planting surges in US

A spring grain rally has prompted US farmers to plant more corn and soyabeans, raising the prospect of a supply deluge at the end of the year. A record 83.7m acres (33.9m hectares) of soyabeans will be planted this year, with farmers seeding the most ever in states such as Minnesota, North Dakota and Ohio, the government said on Thursday….

RBS misses out on FTSE 100 rally

©PA Expectations of a summer rate cut sent the FTSE 100 surging to its highest level since August. But Royal Bank of Scotland missed out on the rally. Morgan Stanley, one of RBS’s three house brokers, turned cautious on the shares in the wake of the EU referendum vote. As well as weaker loan volumes and pressure on net interest…

Irish shares are not smiling

©Bloomberg Earlier this year, Ireland commemorated the centenary of the Easter Rising — the rebellion that set it on the path to independence from Britain. For the country’s investors, a more recent “independence day” has been a rather less happy occasion. Between the close of trading on June 23 — the day of the UK’s referendum on EU membership —…

Pound resumes slide after Carney speech

©Reuters The pound resumed its post-Brexit decline after a two-day rally, dropping more than 1 per cent after Bank of England governor Mark Carney announced likely monetary easing over the summer. Telling journalists that the BoE’s objectives included some “ruthless truth-telling” about the economic consequences of Brexit, Mr Carney said the big moves in sterling in the 48 trading hours…

Oil leads commodity price gains

©Bloomberg Brent crude, the international oil marker, fell as much as $1.08, or 2.2 per cent Oil prices have risen around 34 per cent in the last six months, on target for the best start to the year since 2009 and helping commodities outperform other major asset classes during the first half of the year. Data show total returns from…

Brexit – Europe plots a bank heist

On a rainy June morning in Paris, five dozen men and women gathered in a basement in La Défense, the city’s financial district. Over bitter coffee and fluffy croissants, the great and the good of French politics, business and finance had gathered to plot a heist. Podcast Brexit and the City What will Brexit mean for the City of London?…

Darden Restaurants disappoints Wall St

©Bloomberg Molson’s sale of debt will help fund the company’s full takeover of brewery MillerCoors Darden Restaurants, the owner of well known chains including Olive Garden and Capital Grille, saw its stock fall in morning trading on Wall Street after a disappointing earnings announcement. The company’s shares opened markedly lower and were trading 4.34 per cent down at $63.10 going…

Haven sectors are having a good crisis

As Mark Bristow, chief executive of Randgold Resources, roared across Africa on the closing stages of a charity motorbike safari last week, the gold miner’s share price was likewise speeding to an all-time high. The miner had been caught in an unexpected updraft caused by the UK’s decision to leave the EU on Friday last week. Even as most investors…