by Dave Evans of binary.com Markets stabilised on Friday after the Swiss National Bank dropped a large boulder in the calm waters of the EUR/CHF, with ripple effects across the FX world. The move was completely unexpected and with other fears dominating trader’s radars, the SNB action is an archetypal “Black Swan” as made famous by…
It may be said that from King Canute onwards we have seen history littered with examples of hubris losing out to forces beyond its control. For the financial markets the best example in recent history was of course the pound been kicked out of the ERM in 1992. This came as a result of an…
By Amy McLellan, The oil price is continuing to inflict pain across the sector, with even the biggest companies pulling projects, shedding jobs and cutting back on expenditure. FTSE100 company Tullow Oil on Thursday announced US$2.7 billion of pre-tax write-offs and impairments and slashed 2015 spending plans from US$1 billion at the start of 2014…
The Markets The Swiss National Bank has stopped maintaining the Franc’s peg against the Euro and has also reduced interest rates by 50 basis points to -0.75%. Following the news, the Euro dropped dramatically, bottoming out at 0.80 against the Franc before seeing a partial recovery. The decisions had not been expected in many quarters,…
By Alastair Ford Copper prices have fallen sharply in the wake of a downgrade from the global economy from the World Bank, and as the number of put options in the market multiplies. The World Bank’s revised figures show the global economy growing at three per cent over 2015, as against the 3.4 per cent…
FTSE 100 Associated British Foods (ABF) – revenue for the 16 weeks ended 3rd January 2015 was 3% ahead of the same period last year at constant currency, and was 1% ahead at actual exchange rates. Expects a marginal decline in adjusted earnings per share for the group for the full year. Tullow Oil (TLW)…
By Amy McLellan The highly anticipated Badada-1 wildcat in Block 2B in Kenya’s Anza Basin has spudded, a potential play-opener that will be closely watched by shareholders in Canada’s Taipan Resources and AIM-quoted Tower Resources. Legal wrangles had threatened to delay the drill in November but, as predicted by the parties involved, an injunction was…
By Stewart Dalby A year ago the managers of LGO Energy, which was then called Leni Gas & Oil, talked about production from Trinidad, and in particular from the flagship Goudron field, reaching 2000 bopd. But it seemed more like a wistful dream rather than a meaningful target. LGO had been picking the low lying…
The Markets The World Bank cut its economic forecasts for 2015 and 2016 in a new note issued this morning. The Bank said that sluggish Eurozone performance, the state of Japan’s finances and slowing growth in a number of major emerging markets were the main reasons for its decision. Global growth of 3% is now…
Everyone seems to be concerned with what is seen as the largest economic tragedy of all time – deflation. If prices in Europe continue following the recent trend people are at risk of buying their bread, meat, fish, and clothing for less than usual. Can you imagine how chaotic paying less for your food, for…
