FTSE falters on Brexit and growth fears but Inmarsat flies high

Discussion in 'Market News' started by Lily, Jun 13, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
    Likes Received:
    Leading shares under pressure but maritime deal lifts satellite group

    Leading shares have started the week on a downbeat note, as the cocktail of concerns gripping markets over the past few days shows little sign of easing.

    More disappointing Chinese data, with industrial production and retail sales both below expectations, renewed worries about the state of the global economy. Investors are also cautious ahead of the latest meetings from the US Federal Reserve, the Bank of Japan and Bank of England, both of whom are widely expected to stick to the status quo. But there is enough uncertainty to keep markets on their toes.

    [EU referendum] polls show it’s now too close to call and markets are responding with some very twitchy activity. Sterling has shed more than 2% in two sessions to retrace its April lows, while implied one-month volatility for cable [pound/dollar] is at its highest since the depths of the financial crisis in 2008.

    Stocks across Europe are in negative territory and it’s hard to see much upside until next Thursday’s referendum produces a result.

    This is a very important strategic alliance for Inmarsat. [It] deepends our valuable partnership and ... also significantly strengthens Inmarsat’s position in the global maritime business.

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