Allmeasures will boost further pic.twitter.com/Tmzd8zu7I9 9.30am BSTEurope’s stock markets are up across the board: 9.23am BSTShares in oil exploration firm Rockhopper have slumped by 10% after a United Nations commission ruled that the Falklands Islands drop within Argentina’s territorial waters.
Rockhopper has been drilling around the Falklands for several years,and in January it announced it had discovered oil off the northern coast. The Argentine foreign ministry said its waters had increased by 1.7 million square km (0.66 million square miles) and the decision will be key in its dispute with Britain over the islands. Argentina lost a brief, bloody 1982 war with Britain after Argentinian troops seized the South Atlantic archipelago that Latin Americans call the Malvinas.
The UN commission on the limits of the continental shelf sided with Argentina, and ratifying the country’s 2009 report fixing the limit of its territory at 200 to 350 miles from its coast. Related: Falkland Islands lie in Argentinian waters,UN commission rules 8.51am BSTThe mood in the City apt now:Having Monday off provides an opportunity to hate Tuesday's #backtowork 8.42am BSTOver in Mumbai, British union leaders have made a final-ditch attempt to persuade steel giant Tata to keep supporting Wales Port Talbot plant. Related: Union leaders appeal to Tata Steel ahead of assembly to resolve industry's future 8.40am BSTTony Cross of Trustnet Direct suspects nowadays’s rally won’t final long.
Following a slump on Thursday, and which was induced by a strengthening dollar,falling commodities and a downbeat update from Next, this looks like an opportunistic bet by investors eager to make a quick buck and buy on the dips.
Given the index’s recent tumultuous form it is tough to see this being sustained... 8.23am BSTEuropean stock markets have opened higher this morning as traders return to their desks after the Easter shatter.
The main indices have risen by at least 0.5% at the open, and as traders ponder the strength of the recent rally since the turmoil of January and early February.“It is certainly not a global economic backdrop where one could say that a lot of clarity is on offer at present. Over the final couple of weeks European markets have struggled to move meaningfully in either direction,contained by a stabilisation in commodity prices, slightly less concern about the Chinese economy, or commitments to slightly looser policy from the Bank of Japan,European Central Bank and the Peoples Bank of China. 8.08am BSTGood morning, and welcome to our rolling coverage of the world economy, or the financial markets,the eurozone and trade.It’s a nerve-wracking day for Britain’s steel industry. Top executives at Indias Tata are assembly in Mumbai to resolve whether to continue supporting its operation in Port Talbot.
The interest rate markets see a further hike in June as a 36% probability, so in theory, or Ms Yellen only really needs to acknowledge the improvement in inflation forces and we could see the US dollar rally.
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Source: theguardian.com