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FTSE slips again on Brexit fears but gold climbs and housebuilder Berkeley rises

Discussion in 'Market News' started by Lily, Jun 16, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    Investors remain concerned over Brexit and state of global economy

    As leading shares slide back after Wednesday’s gains, with Brexit fears, falling oil prices and concerns about the latest Bank of Japan and Federal Reserve actions, there are a few bright spots.

    With investors seeking havens for their cash, gold and silver are in demand, which has helped push up precious metal miners. Randgold Resources has risen 255p to £68.65, while Fresnillo is up 45p at £12.57.

    Whilst we believe Berkeley remains a very well managed business, we do not believe the business is immune to the weakening conditions that are being experienced in the inner London new build housing market.

    With a rather negative Federal Reserve holding off on a June rate-hike, and stating that it expects a ‘slower path’ for any future rise, the markets had little reason for cheer this Thursday, the European markets returning to the red after yesterday’s dead cat bounce...

    The usual Brexit fears are to blame for the resumption of the index’s decline, with Brent Crude’s dive below $48.50 per barrel failing to help matters either...

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