Latest news with #HargreavesLansdown
Yahoo
4 hours ago
- Business
- Yahoo
European stock markets opened higher despite escalating Israel-Iran conflict
Israel's attack on Iranian nuclear and military targets caused the price of oil to surge more than 7% on Friday since Tehran is one of the world's major producers of oil, despite sanctions by Western countries limiting its sales. A wider war could slow the flow of Iranian oil to its customers and keep prices of crude and gasoline higher for everyone worldwide. But early Monday, those concerns appeared to abate slightly. Oil prices were still volatile on the fourth day of the Israeli-Iran crisis, before giving back a bit of their gains. On Monday morning, the US benchmark crude oil was traded at $73.71 per barrel. Brent crude, the international standard, cost $74 per barrel, down from Friday but still 7% higher than the price before the missile fire started. Military strikes between Israel and Iran are fuelling concerns that oil exports from the Middle East could be significantly disrupted. However, there is currently no indication that the oil flow is impacted, and concerns are running high. Meanwhile, major oil companies are being rewarded on the stock market: BP and Shell both gained more than 1% in the Monday morning trade in Europe. Related Oil prices surge, Europe's markets open lower on Israel Iran strikes What's at stake for Europe if the Strait of Hormuz is blocked? 'Gains in oil majors and defence contractors have helped to push the FTSE 100 onto a positive footing in early trade,' said Susannah Streeter, head of money and markets at Hargreaves Lansdown financial services company. Shares in the FTSE 100's top banks were also rising on inflation fears that could result in higher key interest rates. Standard Chartered rose nearly 3%, Barclays and Natwest were up by more than 1% by 11 am CEST. Also strengthening the banking sector's gains in London, Metro Bank shares soared by more than 14% following speculation that investment firm Pollen Street Capital would take over the lender, Sky News first reported over the weekend. Investors in London also gained confidence after data for May showed a 6.1% year-on-year jump in retail sales in China, the world's second biggest economy. However, it was coupled with lower-than-expected growth in industrial output, which still rose 5.8% from the previous year. After 11 am in Europe, Britain's FTSE 100 inched up 0.3% to 8,876.26. Germany's DAX gained 0.2% to 23,572.39 and the CAC 40 in Paris edged 0.6% higher to 7,728.66. The futures for the S&P 500 and the Dow Jones Industrial Average were up 0.5%. During Asian trading, Tokyo's Nikkei 225 added 1.3% to 38,311.33, while the Kospi in Seoul gained 1.8% to 2,946.66. Hong Kong's Hang Seng surged 0.7% to 24,060.99 and the Shanghai Composite Index added 0.4% to 3,388.73. The price of gold has climbed as it remains a safe haven asset. An ounce of gold added 1.4% on Friday, but gave back some of its gains on Monday morning, and was traded at around $3,437 an ounce. Prices for US Treasury bonds are also on the rise when investors are feeling nervous, but Treasury prices fell Friday, which in turn pushed up their yields, in part because of worries that a spike in oil prices could drive inflation higher. Inflation in the US has remained relatively tame recently, and it's near the Federal Reserve's target of 2%. However, concerns remain high that it could accelerate due to President Donald Trump's tariffs. A better-than-expected report Friday on sentiment among US consumers also helped drive yields higher. The preliminary report from the University of Michigan stated that sentiment improved for the first time in six months after Trump put many of his tariffs on pause, while US consumers' expectations for future inflation eased. In currency trading early Monday, the US dollar gained to 144.18 Japanese yen from 144.03 yen. The euro rose to $1.1582 from $1.1533. The Middle East conflict is set to be the focus of the G7 meeting of leaders of wealthy nations in Canada this week. There are also hopes that Trump will sign more trade deals, which keeps trade optimism a bit higher. 'It's a big week in terms of decisions on interest rates and the direction of monetary policy," Streeter said. "The Federal Reserve is expected to keep rates on hold this week but comments from chair Jerome Powell will be closely watched for future direction of policy.' Meanwhile, there is a monetary policy meeting of the Bank of England this week, where 'policymakers are expected to press pause on rate cuts,' Streeter explained, citing the potential impact of higher energy costs. Meanwhile, the UK government's infrastructure plans are going to be revealed in more detail this week. 'The 10-year strategy, worth £725 billion (€850.8 bn), is the backbone of the Starmer administration's plan to kickstart growth,' Streeter said. Sign in to access your portfolio
France 24
a day ago
- Business
- France 24
How Trumponomics has shaken global markets
Many investors are pulling money out of the United States, the mighty dollar has lost its lustre and Wall Street is being outpaced by European stock markets. Here is a look at the financial roller-coaster ride. US stocks under pressure After years of global dominance, US stocks are feeling the heat -- and Europe is the main beneficiary. Wall Street's S&P 500 index has gained just two percent since the start of the year, compared with 16 percent for Frankfurt's main index. Growth at the exchanges in London (eight percent) and Paris (three percent) is also outstripping Wall Street. Kevin Thozet from the investment firm Carmignac pinned the blame firmly on Trump. The president's flip-flopping on tariffs had created a "high level of uncertainty" about their potential impact on growth, Thozet told AFP. Dollar slides The dollar has lost 10 percent of its value against the euro in the past six months, "its worst performance in 30 years", according to Robert Farago, an analyst at the British investment firm Hargreaves Lansdown. Trump's tariffs are the main culprit but the global reserve currency is also suffering from concerns about the size of the US debt -- exacerbated by a budget proposal from the president that many analysts say will be hugely expensive. While some have suggested the Chinese yuan could become a dollar alternative, ECB chief Christine Lagarde has touted the euro, discussing in May its potentially greater "international role". But any currency attempting to topple the dollar faces plenty of challenges. "The yuan is not convertible, and the euro is too fragmented," said Jean Lemierre, chairman of the board of directors of BNP Paribas. Debt worries American debt is a cornerstone of the financial system, as the rest of the world lends to the United States in search of a safe investment. But Jamie Dimon, head of JPMorgan Chase, said in early June that the level of US debt was a "real problem" and that bond markets were facing a "tough time". In a sign of the loss of confidence, interest rates on 30-year US Treasury bonds surpassed the symbolic five percent mark at the end of May. "I've always told clients they need US debt if they want an asset that remains intact even in a disaster, but I think that's no longer the case," said Alexandre Hezez, a strategist at Banque Richelieu. Steve Sosnick, chief strategist at US-based Interactive Brokers, told AFP the fact the dollar was falling while rates were rising was "a sign there's money moving out of the US". Winners: gold, crypto Investors have long regarded gold as the ultimate safe harbour in a crisis, and the clamour for the metal has seen its value jump by almost 30 percent since the start of the year. Major central banks have also had a hand in pushing up the price, as they look to gold as a more sure bet than dollars to hold in their reserves. Meanwhile, Trump has leant heavily into cryptocurrencies with investments of his own and official measures to bring the assets into the mainstream. Bitcoin passed $100,000 for the first time just after the US election, increasing almost 60 percent in a year. Oil uncertainties Trump made it a priority to bring down oil prices so that US inflation would come down. Crude oil fell below $60 per barrel in April, its lowest price since 2021. But that was because investors spooked by Trump's tariffs were anticipating weaker demand worldwide if economies slowed. The military escalation between Israel and Iran has seen prices climb again to around $75 a barrel.
Int'l Business Times
a day ago
- Business
- Int'l Business Times
How Trumponomics Has Shaken Global Markets
US President Donald Trump has taken just a few months since his election to upend global financial markets with his economic policies. Many investors are pulling money out of the United States, the mighty dollar has lost its lustre and Wall Street is being outpaced by European stock markets. Here is a look at the financial roller-coaster ride. After years of global dominance, US stocks are feeling the heat -- and Europe is the main beneficiary. Wall Street's S&P 500 index has gained just two percent since the start of the year, compared with 16 percent for Frankfurt's main index. Growth at the exchanges in London (eight percent) and Paris (three percent) is also outstripping Wall Street. Kevin Thozet from the investment firm Carmignac pinned the blame firmly on Trump. The president's flip-flopping on tariffs had created a "high level of uncertainty" about their potential impact on growth, Thozet told AFP. The dollar has lost 10 percent of its value against the euro in the past six months, "its worst performance in 30 years", according to Robert Farago, an analyst at the British investment firm Hargreaves Lansdown. Trump's tariffs are the main culprit but the global reserve currency is also suffering from concerns about the size of the US debt -- exacerbated by a budget proposal from the president that many analysts say will be hugely expensive. While some have suggested the Chinese yuan could become a dollar alternative, ECB chief Christine Lagarde has touted the euro, discussing in May its potentially greater "international role". But any currency attempting to topple the dollar faces plenty of challenges. "The yuan is not convertible, and the euro is too fragmented," said Jean Lemierre, chairman of the board of directors of BNP Paribas. American debt is a cornerstone of the financial system, as the rest of the world lends to the United States in search of a safe investment. But Jamie Dimon, head of JPMorgan Chase, said in early June that the level of US debt was a "real problem" and that bond markets were facing a "tough time". In a sign of the loss of confidence, interest rates on 30-year US Treasury bonds surpassed the symbolic five percent mark at the end of May. "I've always told clients they need US debt if they want an asset that remains intact even in a disaster, but I think that's no longer the case," said Alexandre Hezez, a strategist at Banque Richelieu. Steve Sosnick, chief strategist at US-based Interactive Brokers, told AFP the fact the dollar was falling while rates were rising was "a sign there's money moving out of the US". Investors have long regarded gold as the ultimate safe harbour in a crisis, and the clamour for the metal has seen its value jump by almost 30 percent since the start of the year. Major central banks have also had a hand in pushing up the price, as they look to gold as a more sure bet than dollars to hold in their reserves. Meanwhile, Trump has leant heavily into cryptocurrencies with investments of his own and official measures to bring the assets into the mainstream. Bitcoin passed $100,000 for the first time just after the US election, increasing almost 60 percent in a year. Trump made it a priority to bring down oil prices so that US inflation would come down. Crude oil fell below $60 per barrel in April, its lowest price since 2021. But that was because investors spooked by Trump's tariffs were anticipating weaker demand worldwide if economies slowed. The military escalation between Israel and Iran has seen prices climb again to around $75 a barrel.
Finextra
a day ago
- Business
- Finextra
Validus appoints Daniel Johnson from Hargeaves Lansdown as CTO
Validus Risk Management (Validus), a leading software and tech-enabled services platform for financial risk management, today announces the appointment of Daniel Johnson as Chief Technology Officer (CTO). 0 Based in London and reporting to CEO Kevin Lester, Daniel will lead on developing the company's technology strategy as it continues to scale operations and develop its product offering. With over 15 years of experience working in both large and small tech-driven organisations, Daniel brings significant technical and leadership experience. Most recently, Daniel spent four years at Hargreaves Lansdown, the UK's largest and most successful online investment platform, as Chief Digital Platforms Officer. Prior to Hargreaves Lansdown, Daniel worked as CTO for a number of successful software businesses helping them to build scale and efficiency. The appointment follows the announcement, in February 2025, of a $45 million growth equity investment from FTV Capital. In addition to supporting the company's continued expansion into the APAC, US and European markets, the investment will enable Validus to accelerate its go-to-market efforts and invest in technology and product innovation. Commenting on his appointment, Daniel Johnson said: 'I'm delighted to be joining Validus at such an exciting time for the business. I look forward to working with the team to continue driving product innovation and leading the firm's ongoing development from a technology perspective.' Kevin Lester, CEO of Validus Risk Management, added: 'We are committed to regularly evaluating our technology stack and strategy to ensure we can most effectively support our clients. With his deep expertise, focus on continuous improvement and technology innovation, Daniel is a valuable addition to our executive team as we continue to deliver on our ambitious growth plans.' Earlier this month, Validus announced the opening of its new Singapore office and the appointment of Shawn Koh as Head of Asia Client Coverage, to lead operations across APAC following growing client demand for its services in the region.
Yahoo
2 days ago
- Business
- Yahoo
Oil prices ease but remain at four-month high amid Iran-Israel conflict
Oil prices eased back on Wednesday morning but remained at their highest point since February, as the conflict between Iran and Israel entered its sixth day. Brent crude futures (BZ=F) fell 0.5% to $76.08 a barrel, at the time of writing, while West Texas Intermediate futures (CL=F) declined 0.3% to trade at $74.60 a barrel. The two countries have continued to launch missile strikes at each other, with questions over whether the US will join Israel's strikes against Iran. Read more: FTSE 100 LIVE: Stocks rise as UK inflation slows ahead of Bank of England decision In a social media post on Tuesday, US president Donald Trump called for Iran's "unconditional surrender". Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: "Given that a quarter of global oil supplies flow through the narrow Strait of Hormuz off the Iranian coast, there is increasing concern that a prolonged war will lead to a significant disruption of supplies." She pointed out that brent crude futures were now around 10% higher than they were when the attacks on Iran began. "Already it appears some ships are avoiding the region," said Streeter. "There's not an exodus yet, but companies are operating with extreme caution, and a closure of the strait would disrupt global supply chains." Despite fears of an escalation of the conflict in the Middle East, gold prices were steady on Wednesday morning. Gold futures (GC=F) were trading at $3,401.80 an ounce at the time of writing, while the spot gold price stood at $3,386.14 per ounce. The precious metal rose as Iran-Israel tensions ramped up, with gold futures crossing the $3,400 mark. Investors tend to turn to gold in times of economic and political uncertainty as it is considered to act as a safe-haven investment. Stocks: Create your watchlist and portfolio In a note on Monday, however, Citigroup (C) lowered its price target for gold, expecting it to fall below the $3,000 level by late 2025 or early 2026. The bank cited declining investment demand and an improving global growth outlook. Michael Cuggino, Permanent Portfolio Family of Funds president and portfolio manager, told Yahoo Finance on Tuesday that despite Citi's lowered price target his firm believes gold is a "substantial part of a longer term portfolio, as an alternative to cash, as an alternative to the economic system, as a hard asset, as a hedge against the dollar, economic and inflation risk, whether it's real or perceived." He added: "If you look at the case for it, central banks are buying very strongly around the world. The Fed is likely going to be cutting versus raising, that's bullish for gold long term." The pound edged higher against the dollar (GBPUSD=X) on Wednesday, up 0.1% to $1.3453 at the time of writing, as investors weighed inflation data and looked ahead to central bank interest rate decisions. Data released by the Office for National Statistics (ONS) on Wednesday showed that UK inflation fell to 3.4% in May, which was in line with expectations. That compared to a jump in inflation to 3.5% in April, driven by a wave of household bill increases. However, the ONS said an error in vehicle tax data meant that this figure had been overstated by 0.1%. It explained on Wednesday that in line with its revisions policy, the April headline figure had not been amended but that the corrected information had been used when producing the May index, instead. Danni Hewson, head of financial analysis at AJ Bell (AJB.L), said: "Whether the headline rate has fallen slightly or held steady, it's still significantly above the Bank of England's target of 2%" She said that market expectation of an interest rate cut by the BoE's monetary policy committee (MPC) when it meets tomorrow had "actually climbed slightly to 12% and looking at today's figures there could be a degree of wiggle room. Read more: UK inflation slows to 3.4% in May as transport costs ease "Both core inflation and service sector inflation have fallen in the past month, and rate setters may want to get ahead of potential volatility in order to stimulate a flatlining economy which looks perilously close to toppling towards stagflation," said Hewson. "But with such uncertainty and volatility, staying put might seem like the only smart move." Investors will also be keeping an eye on the US Federal Reserve's latest interest rate decision, which is due to be announced later on Wednesday, with the central bank expected to keep rates on hold again. Meanwhile, in other currency moves, the pound was little changed against the euro (GBPEUR=X), trading at €1.1696 at the time of writing. More broadly, the FTSE 100 (^FTSE) rose slightly, up 0.2% to trade at 8,850 points at the time writing. For more details, on broader market movements check our live coverage here. Read more: Why the UK's AIM is struggling 30 years on What you need to know about UK's private stock market Pisces This under-claimed benefit could help boost your pensionError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
