Banks, Financial

Banking app targets millennials who want help budgeting

Graduate debt, rent and high living costs have made it hard for millennials to save for a house, a pension or even a holiday. For Ollie Purdue, a 23-year-old law graduate, this was reason enough to launch Loot, a banking app targeted at tech-dependent 20-somethings who want help to manage their money and avoid falling […]

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Eurozone inflation climbs to highest since April 2014

A welcome dose of good news before next week’s big European Central Bank meeting. Year on year inflation in the eurozone has climbed to its best rate since April 2014 this month, accelerating to 0.6 per cent from 0.5 per cent on the back of the rising cost of services and the fading effect of […]

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Wealth manager Brewin Dolphin hit by restructuring costs

Profits at wealth manager Brewin Dolphin were hit by restructuring costs as the company continued to shift its focus towards portfolio management. The FTSE 250 company reported pre-tax profits of £50.1m in the year to September 30, down 17.9 per cent from £61m the previous year. Finance director Andrew Westenberger said its 2015 figure was […]

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Travis Perkins and Polymetal to lose out in FTSE 100 reshuffle

Builders’ merchant Travis Perkins and mining company Polymetal face relegation from the FTSE 100 after their recent performances were hit by political events. The share price of Travis Perkins has dropped 29 per cent since the UK voted to leave the EU in June, as economic uncertainty has sparked concerns among some investors about the […]

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RBS share drop accelerates on stress test flop

Stressed. Shares in Royal Bank of Scotland have accelerated their losses this morning, falling over 4.5 per cent after the state-backed lender came in bottom of the heap in the Bank of England’s latest stress tests. RBS failed the toughest ever stress tests carried out by the BoE, with results this morning showing the lender’s […]

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Categorized | Equities

European stock rally slows but copper and financials still rising

Posted on November 11, 2016

European stock markets followed peers in Asia with signs that the post-US election rally is slowing down at the start of trading on Friday, but financial groups and companies hoping to benefit from Donald Trump’s plans for increased infrastructure spending continued to benefit.

At the start of trading:

  • The FTSE 100 is down 0.08 per cent
  • The FTSE 250 is down 0.29 per cent
  • Germany’s Dax is up 0.26 per cent
  • The Europe-wide Stoxx 600 index is up 0.65 per cent

At the individual stock level, insurance and asset management group Standard Life is top of the FTSE 100, with shares up 3.3 per cent at publication time. Shares in copper miner Antofagasta are up 3 per cent after climbing as much as 20 per cent yesterday on the back of a surge in the price of copper.

3i, the private equity group which has been shifting its focus to concentrate particularly on infrastructure investments, is the third biggest riser, up 2.8 per cent.

The Eurozone-wide Euro Stoxx Banks Index is up 1.4 per cent, with Ubi Banca and Deutsche Bank the biggest risers, up 3 per cent and 2.7 per cent respectively. In the UK, Barclays is also up 1 per cent and Royal Bank of Scotland up 0.8 per cent.

Gold miners, in contrast, are among the biggest fallers, after benefiting from the initial uncertainty following Donald Trump’s unexpected victory. Mexico-based miner Fresnillo is bottom of the FTSE 100, with shares down 4.4 per cent, while Randgold and Polymetal are down 3.4 per cent and 2.6 per cent respectively.