From Pimco As we enter another period of accelerated Brexit negotiations, how can investors best navigate the next few weeks and months? Our assessment is that a number of U.K. assets have already priced in a significant chance of a disruptive Brexit, but there is scope for further moves in either direction, depending on the path the negotiations take. Base
Nord Stream 2 at issue From UK Breaking News UK Foreign Secretary Boris Johnson has told MPs that the UK will “consider” imposing sanctions on Russian gas post Brexit. European Union sanctions on Russia currently exclude oil and gas, but Mr Johnson said he would consider all possibilities once the UK “takes back control of our sanctions policy”. Mr Johnson
PM Theresa May’s snap election backfires in the U.K., weakening the pound; dollar strengthens; oil drops A snap election in the U.K resulted in a hung parliament, weakening the governing Conservative’s position ahead of Brexit. Conservatives won 318 seats with a majority requiring 326 seats. The Labour Party won 261 seats, followed by the pro-independence Scottish National Party with 34.
From Stratfor British Prime Minister Theresa May secured a major victory Feb. 8, when the House of Commons approved a bill to authorize the government to start formal negotiations to leave the European Union. After three days of debate, the bill was approved without any amendments; all proposals to reform it were voted down. The so-called “Brexit bill” passed 494-122.
From Law.com Less than two weeks after acting on the cancelled initial public offering of the U.K.’s largest private gym chain, capital markets lawyers at Freshfields Bruckhaus Deringer have once again seen their work go to waste with software company Misys pulling its 4.5 billion pounds ($5.5 billion) IPO. Private equity firm Vista Equity Partners, which owns Misys, had already cut the
In exchange for $425 million in cash, Royal Dutch Shell (ticker: RDS) has sold off the company’s stake in assets held in the Gulf of Mexico, the transaction is expected to close in October. The sale agreement bodes well for its disposal talks in the North Sea, Gabon and New Zealand, according to sources, signaling buyers will meet its expectations
Oil started the day on a slight upswing, but following today’s Petroleum Weekly Status Report issued by the EIA, the price began to plummet, ending the day down 4.76%. Initial reports coming last night from the American Petroleum institute (API) showed a draw on inventories of 6.7 million barrels. However, the API was just setting up the EIA for disappointing
Eyes of the World Should be on the BOJ As the markets tread into the ‘post-Brexit’-world after the UK voters cast in favor of the United Kingdom leaving the European Union, the chips are beginning to fall and countries half a world away are feeling the effects of the decision. There have been many financial market effects felt around Britain
Markets see the largest single-day selloff in history following the Brexit, currencies react The surprise decision by the United Kingdom to leave the European Union triggered the largest single-day selloff in history, according to Standard & Poor’s Dow Jones Indices. The Brexit vote was proceeded by a $2.08 trillion selloff, a sharper decline than even the one that followed the
Markets take a dive as U.K. votes to leave the European Union In a referendum that essentially split the country, the United Kingdom voted to leave the European Union Thursday, a move most market experts did not believe would take place. The U.K. voted 52% to 48% to leave with a 72.2% voter turnout. Markets around the world took a
The UK Votes Tomorrow whether to Exit or Stay in the EU; UK Polls are Split Down the Middle In less than 24 hours, the UK will vote whether or not to stay in the European Union or exit the EU. According to the latest EU referendum poll of polls analysis in the Financial Times, 44% in the UK want to remain, 44% want
WTI and Brent crude oil prices down 4.1% and 3.9%, respectively, today Oil prices continued to fall for a sixth consecutive day, today, while concerns over the possible exit of U.K. from the European Union pulled markets down. Concerns over the future of the E.U. and its currency, along with more bullish statements from the U.S. Federal reserve, strengthened the
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