Latest news with #PatrickArmstrong
Business Times
13-06-2025
- Business
- Business Times
Europe: Shares tumble as Israel-Iran conflict escalates
EUROPEAN shares closed lower on Friday (Jun 13) as Israel's wide-scale strike against Iran triggered a broad market selloff, with investors rushing to safe-haven assets amid an already uncertain trade environment. The pan-European Stoxx 600 index fell 0.9 per cent, briefly hitting its lowest level in three-weeks. The index also marked its fifth consecutive declining session and longest losing streak since September 2024. Israel launched a barrage of strikes across Iran, saying it had attacked nuclear facilities and missile factories. The news sent global risk assets lower and investors moved into traditional safe havens like the dollar and gold. Though Washington said it had no part in the attack, US President Donald Trump, Israel's main ally, suggested that Iran had brought the attack on itself by resisting a US ultimatum in talks to restrict its nuclear programme. Most regional stock bourses finished in the red, with Germany's DAX ending 1.1 per cent lower after data showed German inflation eased to 2.1 per cent in May, confirming preliminary data. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'If this is over quickly, we'll see a fairly quick recovery and the markets basically are discounting the possibility that this drags out,' said Patrick Armstrong, chief investment officer at Plurimi Wealth. 'Our view is that it probably will be very short lived because Iran isn't in a position to respond meaningfully, given the power dynamics between the two countries', he added. Most Stoxx sub-sectors clocked losses, with auto stocks leading declines, down 2.2 per cent. Travel and leisure also dropped 2 per cent – with airline operators ICAG, Lufthansa and Ryanair among the biggest laggards as many airlines cleared out of the airspace over Israel, Iran, Iraq and Jordan and crude oil prices surged. Energy stocks advanced 0.6 per cent as crude oil prices jumped close to 6 per cent on worries about a disruption in Middle East oil supplies. Shipping groups Maersk advanced 4.2 per cent and Hapag-Lloyd gained almost 1 per cent, respectively, as analysts flagged upside risks to freight rates amid the supply disruptions. Defence companies also jumped, with Germany's Rheinmetall up 2.7 per cent and UK's BAE Systems adding 2.9 per cent. A measure of European volatility also shot up to its highest level since May 26. The benchmark index Stoxx 600 posted a weekly decline, as investors were unimpressed by the outcome of US-China talks earlier this week, and had doubts over an EU trade deal with the US before Trump's Jul 8 tariff deadline. REUTERS
Business Recorder
13-06-2025
- Business
- Business Recorder
European shares tumble as Israel-Iran conflict escalates
European shares closed lower on Friday as Israel's wide-scale strike against Iran triggered a broad market selloff, with investors rushing to safe-haven assets amid an already uncertain trade environment. The pan-European STOXX 600 index fell 0.9%, briefly hitting its lowest level in three-weeks. The index also marked its fifth consecutive declining session and longest losing streak since September 2024. Israel launched a barrage of strikes across Iran, saying it had attacked nuclear facilities and missile factories. The news sent global risk assets lower and investors moved into traditional safe havens like the dollar and gold. Though Washington said it had no part in the attack, U.S. President Donald Trump, Israel's main ally, suggested that Iran had brought the attack on itself by resisting a U.S. ultimatum in talks to restrict its nuclear programme. Most regional stock bourses finished in the red, with Germany's DAX ending 1.1% lower after data showed German inflation eased to 2.1% in May, confirming preliminary data. 'If this is over quickly, we'll see a fairly quick recovery and the markets basically are discounting the possibility that this drags out,' said Patrick Armstrong, chief investment officer at Plurimi Wealth. 'Our view is that it probably will be very short lived because Iran isn't in a position to respond meaningfully, given the power dynamics between the two countries'. Most STOXX sub-sectors clocked losses, with auto stocks leading declines, down 2.2%. Travel and leisure also dropped 2% - with airline operators ICAG, Lufthansa and Ryanair among the biggest laggards as many airlines cleared out of the airspace over Israel, Iran, Iraq and Jordan and crude oil prices surged. Energy stocks advanced 0.6% as crude oil prices jumped close to 6% on worries about a disruption in Middle East oil supplies. Shipping groups Maersk advanced 4.2% and Hapag-Lloyd gained almost 1%, respectively, as analysts flagged upside risks to freight rates amid the supply disruptions. Defence companies also jumped, with Germany's Rheinmetall up 2.7% and UK's BAE Systems adding 2.9%. A measure of European volatility also shot up to its highest level since May 26. The benchmark index STOXX 600 posted a weekly decline, as investors were unimpressed by the outcome of U.S.-China talks earlier this week, and had doubts over an EU trade deal with the U.S. before Trump's July 8 tariff deadline.
CNBC
13-06-2025
- Business
- CNBC
Geopolitical fears ease as investors turn to gold, defense for stability
Gina Sanchez, CEO of Chantico Global, and Patrick Armstrong, CIO of Plurimi Wealth, say markets are looking past Iran-Israel tensions. Defense, gold, and inflation-protected bonds stand out.
Yahoo
02-06-2025
- Business
- Yahoo
Hyyve and MoveMate Partner to Simplify Real Estate Moves Across Canada
TORONTO, June 02, 2025 (GLOBE NEWSWIRE) -- Hyyve, Canada's first performance-based residential real estate marketplace where top agents bid upfront to earn a home seller's or buyer's business, is excited to announce a new strategic partnership with MoveMate, Canada's leading tech-enabled moving services platform. Both proudly Canadian companies, this collaboration brings seamless, on-demand moving support directly into the Hyyve platform- helping users manage every stage of their real estate journey, from listing and buying to moving day. With MoveMate set to integrate in Q3 2025, Hyyve users will be able to book trusted, competitively priced moving services with ease - whether preparing to list a home, relocating to a new property, or coordinating buyer-side logistics. MoveMate's commitment to speed, reliability, and transparent pricing aligns perfectly with Hyyve's mission to give Canadians more control, choice, and confidence in every transaction. 'Partnering with MoveMate strengthens our commitment to delivering a truly integrated, end-to-end residential real estate experience,' said Patrick Armstrong, CEO of Hyyve. 'Just as agents compete to earn your business on Hyyve, MoveMate brings a customer-first, tech-driven approach to moving. It's a natural extension of what we're building.' Launching in Toronto in June 2025, Hyyve is reimagining how Canadians choose real estate agents by enabling them to bid upfront with cash incentives, customized marketing plans, and flexible commissions. Unlike traditional agent referrals, Hyyve puts sellers and buyers in control - allowing them to compare proposals, see who's truly invested in earning their business, and make an informed choice with no obligation to select an agent. Because agents are competing, they put their best foot forward - delivering stronger offers, clearer value, and greater accountability, rather than assuming the business is guaranteed through a referral. The addition of MoveMate expands that innovation beyond agent selection - right into the moving truck. 'Hyyve is a bold and forward-thinking platform in the Canadian proptech space,' said Lucas Francioli, CEO at MoveMate. 'We're excited to partner with them to make moving simpler, smarter, and more transparent for Canadians.' MoveMate has completed over 35,000 moves across major Canadian cities and maintains a stellar 4.7-star rating on Google - further reinforcing its reputation for trusted service and a user-friendly booking experience. This integration builds on Hyyve's growing network of Canadian strategic partnerships, including Frank Mortgage (mortgages), Ownright (online legal closings), Bidmii (home renovations), AI HomeDesign (AI-enhanced photos and virtual staging), iCommission (commission advances for real estate agents), and Carson Dunlop (home inspections) - positioning Hyyve as Canada's most comprehensive residential real estate marketplace, supporting every step of the real estate journey. To learn more, visit and A video accompanying this release is available at the following link: Contact: Patrick Armstrong, CEO, Hyyve Inc. marketing@ in to access your portfolio
CTV News
30-05-2025
- General
- CTV News
100km walk in honour of fallen military and emergency services members
Patrick Armstrong and Heather Pham are getting ready to take part in a 100 kilometre walk this weekend, which will raise money to buy defibrillators to donate in honour of Ontario's fallen soldiers, paramedics, police officers, and firefighters. 'I personally believe that it is our duty as the living to tell the stories of those that have gone before,' said Armstrong. Armstrong started the Dave Mounsey Memorial Fund in honour of his beloved friend and fellow OPP officer Dave Mounsey, who was killed in the line of duty in 2006. To date, 207 defibrillators have been donated by the Mounsey Fund to be placed in arenas, churches, community centres, and businesses across Ontario. One such defibrillator was recently donated to the North Huron Fire Department in honour of OPP Const. Vu Pham, killed in the line of duty in March 2010. Vu's son Jordan is a volunteer firefighter for the department. 100 km In a Day fundraiser Heather Pham with her son Jordan, donating a defibrillator to the North Huron Fire Department in May 2025, in honour of Vu Pham, an OPP officer killed in the line of duty in 2010. Jordan Pham is a volunteer firefighter with the North Huron Fire Dept. (Source: North Huron Fire Department) 'It's just so helpful for the family members to know that they're not alone, and that the sacrifice will always be remembered. Their loved ones will always be remembered,' said Heather Pham, Vu's wife. Heather Pham and two of her sons will be one of 20 families walking with Armstrong and members of the Mounsey Fund across Perth County this weekend. Their other son Josh Pham won't be there. He'll be on shift with the Parry Sound OPP, following in his late father's footsteps, starting in the same detachment 30 years after his father did. 'Josh has been for a long time talking about joining the OPP. So, I knew that it was coming. I'm not going to say that it was easy to see him drive off for his first shift, but as a parent, I want to support and honor his goals and dreams, despite my own anxieties,' said Heather. 100 km In a Day fundraiser Heather Pham with her son, Josh, who is now an OPP officer, following in his late father Vu's footsteps, seen in May 2025. (Source: Heather Pham) Along with Pham, fallen emergency responders like Captain Graham Emslie of the Sarnia Fire Service, who died in the line of duty in 2016, will be honoured during the 100 km walk. Members of North Perth Deputy District Fire Chief Ken Rea's family will take part. Rea died in the line of duty in Listowel in 2011. Master Corporal Anthony Klumpenhouwer will also be remembered. The Perth County native died in Afghanistan in 2007. 'We have the honour, not only of donating defibrillators out to the public, but to remember these fallen heroes and their families,' said Armstrong. 100 km In a Day fundraiser Patrick Armstrong walking in the 2024 100 km In a Day fundraiser. (Source: Dave Mounsey Memorial Fund) 'My family and I participate in the 100 Kilometre In a Day every year. And we will do so for as long as the fund continues to remember the sacrifice of our fallen first responders. In doing so, they create time and space to keep their memory alive. And not just for the family members, but for the community as a whole,' said Heather Pham. You can learn more and donate to buy more defibrillators, by following this link. You can follow their progress over the weekend, by following Dave Mounsey Memorial Fund on Facebook.
