Monthly Archive: May 2017


Pound falls below $1.28 on UK hung parliament fears – business live

All the day’s economic and financial news, as the City braces for next week’s general election.

Latest: YouGov suggests Theresa May could fall short of majorityComing up: Eurozone unemployment and inflation data
General election: May and Corbyn to miss BBC debate as campaign gets personal – politics live

8.44am BST

Sterlin has also lost ground against the euro this morning, losing 0.4% to €1.145.

That means one euro is now worth 87.33p (compared to 76p before last June’s EU referendum).

The importance of politics as a market driver currently can’t be overstated. Perhaps that shouldn’t surprise anyone when the economic backdrop is relatively dull.

This morning, the pound is the main victim again as a YouGov poll points to a possible hung parliament as the Conservatives risk losing seats in next week’s election. We’re supposed to treat polls with suspicion but needless to say, we remain bullish of EUR/GBP even if I’ve lost my bet that it would trade above 0.90 by the start of this week

8.38am BST

Kathleen Brooks of City Index is sceptical about YouGov’s prediction, arguing that the pollster’s methodology is too untested to make such sweeping claims.

She thinks it most likely that the Conservatives will win a small majority, but fears that even this could hit the pound.

We think there is a chance of a deeper sell off back towards $1.20 if it looks like Theresa May won’t have a big enough mandate to agree a trade deal with the UK. The prospect of no deal from the Brexit negotiations has spooked investors and may continue to do so after this election. This could weigh on sterling and the broader FTSE 350 index.

We would expect the political uncertainty that could arise from a hung parliament and a potential change in leadership would weigh heavily on the pound and the FTSE 100.

Although we can’t discount the times/yougov poll, it is a lone voice calling for hung parliament. Also, it uses untested methodology…

8.33am BST

YouGov’s shock forecast that the Conservative Party could lose 20 seats in next week’s election is the talk of City this morning.

The suggestion that Britain could be left with a hung parliament next week has cast a cloud of uncertainty over the financial markets, says Neil Wilson of ETX Capital.

A hung parliament is the nightmare scenario for May. It would constitute a massive personal failure and undoubtedly make for great domestic political uncertainty at the worst possible moment for Britain.

If Mrs May fails to get the thumping majority she hopes for, her position will be a lot less secure than before she called the snap election.

8.08am BST

A new forecast that Britain could be left with a hung parliament next week has knocked the pound.

Sterling fell below $1.28 after YouGov analysis , published in The Times, suggested that Theresa May could be left 16 seats short of an overall majority.

In the currency market, it is the British Pound which has attracted the most attention as the latest polls from YouGov shows that the big gamble by Theresa May could cost her majority lead in parliament. This is not something which she has pictured but again, the same story goes for David Cameron when he took the gamble for the Brexit vote. The YouGov poll shows that her party could lose as much as 20 seats and Labour could gain nearly 30 additional seats. So much for all the rhetoric “making her hand strong in the parliament”.

This has taken a toll on the British pound, and it has lost ground against a basket of currencies.

Investors are worried about a hung parliament, and if we get more polling data which confirms that the possibility of a hung parliament is more real, we could see the British pound losing ground against the dollar and the Euro. We do think that the sterling-dollar pair could drop all the way to 1.26 mark if we break the support of 1.2752.

Tonight: we reveal YouGov’s first seat by seat projection of the campaign – suggests Tories fall 16 seats short of overall majority

“The poll allows for big variations, however, and suggests that the Tories could get as many as 345 seats on a good night, 15 more than at present, and as few as 274 seats on a bad night,”

The pound is trading below $1.28 this morning as new poll suggests Theresa May could fall short of a majority. AB9 #GE2017 #GBPUSD

7.53am BST

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

Continue reading…


How to Make Money


Birth of the Solar System

Join David Kaplan on a virtual-reality tour showing how the sun, the Earth and the other planets came to be. Journey to the Birth of the Solar System 360 VR QUANTA MAGAZINE Website:

The post Birth of the Solar System appeared first on The Big Picture.


Six-day war: Israeli paratrooper and Palestinian recall conflict 50 years on

Yitzhak Yifat, who features in David Rubinger Western Wall photograph, and ex-soldier look back: ‘He said, “Please stop.” And then he took the famous picture’

Dr Yitzhak Yifat, an Israeli paratrooper in 1967, was the central figure in David Rubinger’s famous photograph of three Israeli soldiers celebrating the capture of the Western Wall.

I was 23 then and a corporal. When Gamal Abdel Nasser [the Egyptian president] blockaded the Suez canal, Israelis were being called up. I wasn’t called up at first – I was a teacher then – but on 23 May I was back home in Tel Aviv when I heard the doorbell ring. I opened it. I saw a boy and girl, both soldiers. They had my call-up order and in a few minutes I had prepared a backpack.

Related: Veteran Israeli photographer David Rubinger dies aged 92

Related: The six-day war: why Israel is still divided over its legacy 50 years on

Continue reading…


BA flight disruption at Heathrow set for third day

Some short-haul flights from Heathrow continue to be disrupted by a worldwide computer crash.

Older posts «