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Economic News News

Economic news

UK could fall into a recession after Brexit, say economists

UK could fall into a recession after Brexit, say economists

Fri, 24 June 2016

(ShareCast News) - The UK could fall into a recession forcing the Bank of England to ease monetary policy further after the country voted for Brexit on Friday, according to a Reuters poll of economist... [more]

Private investors using Brexit selloff as buying opportunity, says Hargreaves Lansdown

Private investors using Brexit selloff as buying opportunity, says Hargreaves Lansdown

Fri, 24 June 2016

(ShareCast News) - Private investors are using Friday's Brexit-fuelled stock market selloff as a buying opportunity, according to Hargreaves Lansdown's senior analyst, Laith Khalaf. He said 80% of the... [more]

Proxama's losses widen; share placing announced

Proxama's losses widen; share placing announced

Fri, 24 June 2016

(ShareCast News) - Mobile payments and marketing company Proxama reported a wider pre-tax loss in the year ending 31 December 2015, but revenue increased and the company announced plans for a £2m shar... [more]

Brexit has 'significant implications' for the UK, says FCA

Brexit has 'significant implications' for the UK, says FCA

Fri, 24 June 2016

(ShareCast News) - Brexit "has significant implications for the UK", the Financial Conduct Authority warned on Friday. The financial regulator said it was in very close contact with the firms it super... [more]

HSBC believes BoE should hold off from cutting Bank Rate

HSBC believes BoE should hold off from cutting Bank Rate

Fri, 24 June 2016

(ShareCast News) - HSBC cut its forecast for economic growth in the UK in 2016 and 2017, while revising its forecast for inflation sharply higher in anticipation of a weaker pound. Significantly, a 's... [more]

Analysts weigh in on Brexit

Fri, 24 June 2016

(ShareCast News) - As the UK's shock decision to leave the European Union sent risk assets tumbling - with investors pouring into safe havens such as gold, gilts and the yen - analysts weighed in with... [more]

Brexit: BoE ready to underpin sterling, says Carney

Fri, 24 June 2016

(ShareCast News) - Bank of England governor Mark Carney said the bank was ready to support sterling after the currency plunged in the wake of the UK's decision to leave the European Union. Carney ... [more]

Swiss central bank intervenes to cut franc

Fri, 24 June 2016

(ShareCast News) - The Swiss National Bank (SNB) acted quickly in the currency markets after the UK voted for a Brexit from the European Union, sending the pound plummeting and l money flow to the tra... [more]

BoE monitoring developments closely

Fri, 24 June 2016

(ShareCast News) - The Bank of England has issued a statement to say it is monitoring developments closely. "It has undertaken extensive contingency planning and is working closely with HM Treasury, o... [more]

European stocks to drop up to 15%; recession by year-end, says Exane

Fri, 24 June 2016

(ShareCast News) - European equities could fall 10% to 15% in the next few days, said Exane BNP Paribas, while a UK recession by the end of this year looks likely. "Financial markets will likely react... [more]

Brexit will cause protracted political and economic uncertainty, says Morgan Stanley

Fri, 24 June 2016

(ShareCast News) - The UK's decision to leave the European Union will lead to profound and protracted political and economic uncertainty, Morgan Stanley said on Friday. This in turn will lead to a wea... [more]

Brexit: Bank of England 'monitoring developments closely'

Fri, 24 June 2016

(ShareCast News) - The Bank of England issued a statement early on Friday, as the pound plummeted and world markets were sent into shock as a result of the UK's decision to leave the European Union. S... [more]

Brexit: Market futures turn sharply lower

Fri, 24 June 2016

(ShareCast News) - Stock index futures were sharply lower in both the UK and the US, as voters in the United Kingdom chose to leave the European Union. In London, the FTSE futures were pointing to an ... [more]

Brexit: Cameron resigns; sees new PM by October as markets nosedive

Fri, 24 June 2016

(ShareCast News) - UK Prime Minister David Cameron resigned on Friday, saying he expected to see a replacement by October after Britain voted 52% to 48% to leave the European Union as £200bn was wiped... [more]

Brexit: Results confirm UK votes to leave EU, pound at 30-year low

Fri, 24 June 2016

(ShareCast News) - Britain has voted to leave the European Union, results confirmed on Friday morning, sending sterling crashing and leading economists to slash their growth forecasts for the economy.... [more]

Asian markets crash as Brexit eyed, yen strengthens as Kurdo 'carefully monitors'

Fri, 24 June 2016

(ShareCast News) - Asian stock markets were in turmoil on Friday morning, a vision of the future for the European open, as the UK appeared to be on the verge of a Brexit from the EU, causing consterna... [more]

Sterling smashed as Leave lead grows and BBC calls Brexit

Fri, 24 June 2016

(ShareCast News) - Sterling was down almost 10% against the dollar and 6% lower versus the euro on Friday morning as, with more than half of referendum results counted, Britain looked to have voted to... [more]

Opinium poll shows lead for 'Leave', Newcastle result blows a hole in the pound

Fri, 24 June 2016

(ShareCast News) - A fresh poll from Opinium has 'Leave' ahead at 45.0% with support for 'Remain' clocking in at 44.0%. As of 00:22 BST cable was lower by 2.56% to 1.4496, having hit 1.4436 at 00:20... [more]

YouGov re-contact poll puts 'Remain' at 52.0%, report says

Thu, 23 June 2016

(ShareCast News) - The result of YouGov's re-contact poll puts 'Remain' at 52.0% versus 'Leave' at 48.0%, Sky reports. As of 22:10 BST cable is higher by 0.73% to 1.4986. To take note of, in a resear... [more]

Financial markets' pricing looks sound, Pantheon Macroeconomics says

Thu, 23 June 2016

(ShareCast News) - Financial markets' move on Thursday to price-in a 'Remain' vote looked "sound" but meant the scope for further gains in sterling assets was close to being exhausted, albeit with one... [more]

UK population growth surpasses half-a-million in 2015, ONS says

Thu, 23 June 2016

(ShareCast News) - The population of the UK grew by more than half a million in 2015 to reach 65.1m, according to the latest official estimates. Net migration accounted for almost two thirds of the in... [more]

Barclays tells clients it will not take new FX stop-loss orders

Thu, 23 June 2016

(ShareCast News) - Barclays reportedly stopped accepting new so-called 'stop-loss' orders from its clients dealing in foreign exchange markets. Observers believed the move was motivated both by a desi... [more]

US new home sales fall more than expected in May

Thu, 23 June 2016

(ShareCast News) - Sales of new US single-family homes declined more than expected in May, official data released on Thursday showed. According to figures from the Commerce Department, new homes sales... [more]

Markit's flash US manufacturing PMI bounces back

Thu, 23 June 2016

(ShareCast News) - Markit's flash manufacturing purchasing managers' index printed at a three-month high of 51.4 in June, up from 50.7 in May and ahead of economists' expectations for a reading of 50.... [more]

Result of referendum far from a foregone conclusion due to high number of undecideds, HSBC says

Thu, 23 June 2016

(ShareCast News) - The result of the referendum on the country's membership of the European Union was far from a foregone conclusion and even a vote to 'Remain' would not lift all of the uncertainties... [more]